An interesting question that for me highlights how there's too much emphasis on retail acceptance of Bitcoin. Which doesn't matter much. Taking bitcoin payments isn't any different to any other currency, the retailer is just offering payment through a third party provider. When i go to a US or European site they offer the same for my £. They dont want my £, they will have the payment processed and given in their local currency.
Really, there's not much advancement of Bitcoin until it is wanted as the currency, until it is used for direct payment of goods and services. Until Nestle takes payment of Bitcoin for a delivery of a shipment of chocolate or baby milk; until BP takes payment of Bitcoin for a shipment of lubricants. And then holding them and using them to pay their payments to their supply chain that use Bitcoins.
Online retailers accepting bitcoins are just exploiting a self-publicising niche market. It generates some headline and gets a few $'00,000 through the tills that might have gone elsewhere or more likely not spent. Theres not real economic growth as those BTC just go straight back into the currency exchange market.
+1
This post totally nailed it. Sometimes I think is funny how people overreact when a new company accept BTC payments, then as we see parallely the price of BTC goes down. All those companies do is dump the BTCs as they get them.
The situation will only change its tide when they start paying suppliers, doing payrolls and giving bonuses to their employees also in BTC.
As I stated a week ago, I totally agree.
https://twitter.com/EtherCoins/statuses/499623131183841280Eth.
I think your both missing the point. People say the issue with Bitcoin is they don't have much use for it other then speculating on the future price. That issue is being addressed when they have the option to use Bitcoin for their everyday purchases. Now if someone needs something and can use a Bitcoin that is one less reason to deny Bitcoin's value. The fact that companies don't use Bitcoin to pay their employees and suppliers is not something people should be worried about now.
Businesses accepting Bitcoin means people have a reason to use Bitcoin. The larger the amount of users of Bitcoin will lead to more holders and that means less supply= more demand and a higher price. We should be celebrating the victory and not fixating on problems that may be out of our immediate control, it only adds to more fud and being spread. This could very well be the first step to something like that taking place, who knows.
