Topic: Will INCREASED adoption DECREASE price per coin? - page 2. (Read 2294 times)
I used to own an online shop and between the credit card fees, anti-fraud systems you have to shell out for, and the fraudulent chargebacks the cost of taking a card for payment is easily over 5% for many web stores. I'm sure once they get comfy with BTC you will see more and more of them willing to split this windfall of savings with their customers in order to encourage more of them to stop using cards.
Speaking as a consumer, if a business would offer me 1% or more extra discount vs what I can achieve using credit card points, then I would switch to paying with BTC, assuming I can get the BTC at-cost via something like Circle. I'd be willing to switch in 99% of my online purchasing. I know without hesitation that the reputable online stores I generally purchase from like Amazon are not going to rip me off, so I'd rather save the extra percent or two. The only case I might be hesitant is some really obscure website that I've never bought from.
So once I get my Circle invite I'm planning to start buying a bunch of those 3% off gift cards and use those for most of my spending. I'm guessing this idea may be starting to take off as you can see in the recent surge in BTC transactions:
https://blockchain.info/charts/n-transactions-excluding-popular?showDataPoints=false×pan=2year&show_header=true&daysAverageString=7&scale=0&address=
So once I get my Circle invite I'm planning to start buying a bunch of those 3% off gift cards and use those for most of my spending. I'm guessing this idea may be starting to take off as you can see in the recent surge in BTC transactions:
https://blockchain.info/charts/n-transactions-excluding-popular?showDataPoints=false×pan=2year&show_header=true&daysAverageString=7&scale=0&address=
The only way I could imagine this being the case is if people had no incentive to save and coins. The limited supply makes it so this won't happen for long if there is such a demand.
I am reading articles about how increased adoption of Bitcoin may actually decrease its price. I've heard that these businesses, like Overstock, instantly convert Bitcoins right to USD, and therefor this somehow decreases the prices.
Conventional wisdom would suggest that increased adoption increases the price... But adoption has increased and the price is down over its high of $1200. Obviously MANY factors contribute to its price.
I'm HODLING... And I have a lot of buy orders in the 400-300 range. I picked off some 490 coins yesterday.
Anyways...can someone argue for and against this theory?
Conventional wisdom would suggest that increased adoption increases the price... But adoption has increased and the price is down over its high of $1200. Obviously MANY factors contribute to its price.
I'm HODLING... And I have a lot of buy orders in the 400-300 range. I picked off some 490 coins yesterday.
Anyways...can someone argue for and against this theory?
Well, let me give you a short answer, consumers don't have much reason to buy btc for the sole purpose of spending it. Now, on the other hand, merchants got a very good reason to adopt bitcoin (lower fees). If anyone can provide a killer argument for why consumers ought to buy btc (to spend) instead of just using their CC, then please do so. That argument would have to have a broad appeal. So pls, no conspiracy nuts claiming the dollar will die, etc. The general public don't care about that.
Personally...I would much prefer credit cards over bitcoin. if I charge something on Amex, I get consumer protection, I pay no fees, and I get a month to pay it off.
As a business OWNER...bitcoin is better than credit cards. No fees, instant money in the bank.
If someone combines Bitcoin with some sort of credit card features (fraud protection, insurance, delayed payment, no fee transactions) that would be awsome.
And as a business owner you also have the advantage to protect you from fraud of stolen credit cards/disputes , as a bitcoin transaction is like cash, irreversible.
I am reading articles about how increased adoption of Bitcoin may actually decrease its price. I've heard that these businesses, like Overstock, instantly convert Bitcoins right to USD, and therefor this somehow decreases the prices.
Conventional wisdom would suggest that increased adoption increases the price... But adoption has increased and the price is down over its high of $1200. Obviously MANY factors contribute to its price.
I'm HODLING... And I have a lot of buy orders in the 400-300 range. I picked off some 490 coins yesterday.
Anyways...can someone argue for and against this theory?
Conventional wisdom would suggest that increased adoption increases the price... But adoption has increased and the price is down over its high of $1200. Obviously MANY factors contribute to its price.
I'm HODLING... And I have a lot of buy orders in the 400-300 range. I picked off some 490 coins yesterday.
Anyways...can someone argue for and against this theory?
Well, let me give you a short answer, consumers don't have much reason to buy btc for the sole purpose of spending it. Now, on the other hand, merchants got a very good reason to adopt bitcoin (lower fees). If anyone can provide a killer argument for why consumers ought to buy btc (to spend) instead of just using their CC, then please do so. That argument would have to have a broad appeal. So pls, no conspiracy nuts claiming the dollar will die, etc. The general public don't care about that.
Personally...I would much prefer credit cards over bitcoin. if I charge something on Amex, I get consumer protection, I pay no fees, and I get a month to pay it off.
As a business OWNER...bitcoin is better than credit cards. No fees, instant money in the bank.
If someone combines Bitcoin with some sort of credit card features (fraud protection, insurance, delayed payment, no fee transactions) that would be awsome.
Indeed, now let's just wait and see if any of the bulls can provide the argument that is found wanted. I have been here since summer of 2011 and have yet to see it. I believe there is a good reason for that. Now, why doesn't the price react to good news? Most likely because the majority of bitcoiners understand this.
I am reading articles about how increased adoption of Bitcoin may actually decrease its price. I've heard that these businesses, like Overstock, instantly convert Bitcoins right to USD, and therefor this somehow decreases the prices.
Conventional wisdom would suggest that increased adoption increases the price... But adoption has increased and the price is down over its high of $1200. Obviously MANY factors contribute to its price.
I'm HODLING... And I have a lot of buy orders in the 400-300 range. I picked off some 490 coins yesterday.
Anyways...can someone argue for and against this theory?
Conventional wisdom would suggest that increased adoption increases the price... But adoption has increased and the price is down over its high of $1200. Obviously MANY factors contribute to its price.
I'm HODLING... And I have a lot of buy orders in the 400-300 range. I picked off some 490 coins yesterday.
Anyways...can someone argue for and against this theory?
Well, let me give you a short answer, consumers don't have much reason to buy btc for the sole purpose of spending it. Now, on the other hand, merchants got a very good reason to adopt bitcoin (lower fees). If anyone can provide a killer argument for why consumers ought to buy btc (to spend) instead of just using their CC, then please do so. That argument would have to have a broad appeal. So pls, no conspiracy nuts claiming the dollar will die, etc. The general public don't care about that.
Personally...I would much prefer credit cards over bitcoin. if I charge something on Amex, I get consumer protection, I pay no fees, and I get a month to pay it off.
As a business OWNER...bitcoin is better than credit cards. No fees, instant money in the bank.
If someone combines Bitcoin with some sort of credit card features (fraud protection, insurance, delayed payment, no fee transactions) that would be awsome.
I am reading articles about how increased adoption of Bitcoin may actually decrease its price. I've heard that these businesses, like Overstock, instantly convert Bitcoins right to USD, and therefor this somehow decreases the prices.
Conventional wisdom would suggest that increased adoption increases the price... But adoption has increased and the price is down over its high of $1200. Obviously MANY factors contribute to its price.
I'm HODLING... And I have a lot of buy orders in the 400-300 range. I picked off some 490 coins yesterday.
Anyways...can someone argue for and against this theory?
Conventional wisdom would suggest that increased adoption increases the price... But adoption has increased and the price is down over its high of $1200. Obviously MANY factors contribute to its price.
I'm HODLING... And I have a lot of buy orders in the 400-300 range. I picked off some 490 coins yesterday.
Anyways...can someone argue for and against this theory?
But if many people start seeing the discounts offered by merchants if you buy with bitcoin, im sure some people will be interested in buying btcs to purchase goods.
There is not much movement as the prices still stuck little above the $500 mark
If anyone can provide a killer argument for why consumers ought to buy btc (to spend) instead of just using their CC, then please do so.
Thats the thing i also dont see anywhere. And well, that a pretty cruicial piece.That argument would have to have a broad appeal. So pls, no conspiracy nuts claiming the dollar will die, etc. The general public don't care about that.
The "dollar will die" argument always makes me laugh. The whole financial system and government breaks down, but sure, the ISPs will just keep the internet going in that apocalyptic scenario ... I am reading articles about how increased adoption of Bitcoin may actually decrease its price. I've heard that these businesses, like Overstock, instantly convert Bitcoins right to USD, and therefor this somehow decreases the prices.
Conventional wisdom would suggest that increased adoption increases the price... But adoption has increased and the price is down over its high of $1200. Obviously MANY factors contribute to its price.
I'm HODLING... And I have a lot of buy orders in the 400-300 range. I picked off some 490 coins yesterday.
Anyways...can someone argue for and against this theory?
Conventional wisdom would suggest that increased adoption increases the price... But adoption has increased and the price is down over its high of $1200. Obviously MANY factors contribute to its price.
I'm HODLING... And I have a lot of buy orders in the 400-300 range. I picked off some 490 coins yesterday.
Anyways...can someone argue for and against this theory?
Well, let me give you a short answer, consumers don't have much reason to buy btc for the sole purpose of spending it. Now, on the other hand, merchants got a very good reason to adopt bitcoin (lower fees). If anyone can provide a killer argument for why consumers ought to buy btc (to spend) instead of just using their CC, then please do so. That argument would have to have a broad appeal. So pls, no conspiracy nuts claiming the dollar will die, etc. The general public don't care about that.
I am reading articles about how increased adoption of Bitcoin may actually decrease its price. I've heard that these businesses, like Overstock, instantly convert Bitcoins right to USD, and therefor this somehow decreases the prices.
Conventional wisdom would suggest that increased adoption increases the price... But adoption has increased and the price is down over its high of $1200. Obviously MANY factors contribute to its price.
I'm HODLING... And I have a lot of buy orders in the 400-300 range. I picked off some 490 coins yesterday.
Anyways...can someone argue for and against this theory?
Conventional wisdom would suggest that increased adoption increases the price... But adoption has increased and the price is down over its high of $1200. Obviously MANY factors contribute to its price.
I'm HODLING... And I have a lot of buy orders in the 400-300 range. I picked off some 490 coins yesterday.
Anyways...can someone argue for and against this theory?
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