All my retail and service businesses now accept bitcoin for payment. We even have a Bitcoin sticker next to our Visa/MC sticker on the front doors.
I don't redeem my bitcoin income for USD ever. I either hold it, or I use it to buy from others that sell via Bitcoin. I figure that's the most I can do to keep demand high and volatility low.
I talked with some other localish business owners about starting a new movement/motto in regards to showing people that you're dedicated to Bitcoin, not just dedicated to income. More details to come, but I think it could help volatility.
Topic: Traders vs miners (Read 530 times)
Traders vs miners.. Id go with traders
When bitcoin gains more common legitimacy, which it will inevitably will, we will see more stability. Also, don't forget what money actually is
Bitcoin is young. I'm afraid that volatility will be quite common in the short run...Anyway, stability is not just good for miners, but for merchants in general.
thanks for your inputs, but that kind of theoretic. as of me, I spent bitcoins much more, then I spent flat money to pay for living.
more I think about it more depressing it looks, it seems that it is not a miners who make money, but traders who manipulate market.
Where in this equation falling goods hard to see in near future at least.
Mostly it is just mental things, if you can control and fix your attitude, then miner can be a trader too. Or miner can hire a trader. At current situation miners is just like piggy bank for traders.
more I think about it more depressing it looks, it seems that it is not a miners who make money, but traders who manipulate market.
Where in this equation falling goods hard to see in near future at least.
Mostly it is just mental things, if you can control and fix your attitude, then miner can be a trader too. Or miner can hire a trader. At current situation miners is just like piggy bank for traders.
If you want to improve the stability, get more places to accept Bitcoin, and use more bitcoin at places that do accept it.
Bitcoin isn't really an accepted form of currency. By accepted, I mean believe that it's legitimate. It's going to take time. Try not to forget what money really is. It's the flow of goods and services. When the quantity of people that use it goes up, the economy will improve be. I'd rather have a volatile currency than hyperinflation which puts the future generations in debt
Traders need volatility and miners need stability. Traders will not hesitate to destroy bitcoins rate, while miners revenues depends on stable bitcoins. I'm miner, so it was really depressing to see btc rate going down recently, especially with difficulty going up and amount of mined bitcoins going in opposite direction.
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