Or are we hoarding coins for potential investment returns?
People are hording bitcoin and using it mainly as a speculation instrument.
Topic: Why would sales in Bitcoins decline on Overstock? - page 3. (Read 2786 times)
People are hording bitcoin and using it mainly as a speculation instrument.
I'm not a huge holder in bitcoin. I've been buying a bit each paycheck for about 6 months so I'm up to 7 now. I have made a few purchases from Overstock myself and I must admit I've stopped purchasing things there because of the price drops.
Even when I did purchase things from Overstock I always repurchased the same amount of bitcoin. I think I've stopped temporarily because instead of buying those items on Overstock I've told my wife to not shop there for now because I use that money to purchase more bitcoin at these sale prices rather than acquiring more goods.
Once the price hits the 700-800 or more range, then I'll be in a more holding pattern and I'll feel more comfortable just making purchases in bitcoin and replacing what I use.
Even when I did purchase things from Overstock I always repurchased the same amount of bitcoin. I think I've stopped temporarily because instead of buying those items on Overstock I've told my wife to not shop there for now because I use that money to purchase more bitcoin at these sale prices rather than acquiring more goods.
Once the price hits the 700-800 or more range, then I'll be in a more holding pattern and I'll feel more comfortable just making purchases in bitcoin and replacing what I use.
Most people buying would've been long term holders of bitcoin. I guess most of them bought what they needed. There's no incentive for someone who doesn't already own some to go out and buy BTC just to pay that way.
It's also a classic case of deflation in action. People are waiting for a rise to spend more.
If and when they open up international sales they'll get another big boost.
It's also a classic case of deflation in action. People are waiting for a rise to spend more.
If and when they open up international sales they'll get another big boost.
Everyone have been looking for big retail companies to come on board, with digital currency.
Thing is, the Bitcoin community is not supporting this.
It was reported that on the 9th January 2014, when Overstock became the first major retailer in the world to start accepting Bitcoin, they made sales worth US$126,000 in Bitcoin.
As of 13 March 2014, Overstock Bitcoin income had shrunk to under 1% of their normal daily cash intake.
Source "http://en.wikipedia.org/wiki/Overstock.com"
My question is this. Why not support these ground breaking companies?, to proof to the rest of the retailers, that bitcoin has huge potential income.
Or are we hoarding coins for potential investment returns?
Thing is, the Bitcoin community is not supporting this.
It was reported that on the 9th January 2014, when Overstock became the first major retailer in the world to start accepting Bitcoin, they made sales worth US$126,000 in Bitcoin.
As of 13 March 2014, Overstock Bitcoin income had shrunk to under 1% of their normal daily cash intake.
Source "http://en.wikipedia.org/wiki/Overstock.com"
My question is this. Why not support these ground breaking companies?, to proof to the rest of the retailers, that bitcoin has huge potential income.
Or are we hoarding coins for potential investment returns?
It's because of the bear market. Wealth effect at a higher btc/usd price will spur more retail sales in BTC. What is the difference between saving and hoarding?
Everyone have been looking for big retail companies to come on board, with digital currency.
Thing is, the Bitcoin community is not supporting this.
It was reported that on the 9th January 2014, when Overstock became the first major retailer in the world to start accepting Bitcoin, they made sales worth US$126,000 in Bitcoin.
As of 13 March 2014, Overstock Bitcoin income had shrunk to under 1% of their normal daily cash intake.
Source "http://en.wikipedia.org/wiki/Overstock.com"
My question is this. Why not support these ground breaking companies?, to proof to the rest of the retailers, that bitcoin has huge potential income.
Or are we hoarding coins for potential investment returns?
Thing is, the Bitcoin community is not supporting this.
It was reported that on the 9th January 2014, when Overstock became the first major retailer in the world to start accepting Bitcoin, they made sales worth US$126,000 in Bitcoin.
As of 13 March 2014, Overstock Bitcoin income had shrunk to under 1% of their normal daily cash intake.
Source "http://en.wikipedia.org/wiki/Overstock.com"
My question is this. Why not support these ground breaking companies?, to proof to the rest of the retailers, that bitcoin has huge potential income.
Or are we hoarding coins for potential investment returns?
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