Topic: Zealots and Criminals, Is no one using bitcoin for legitimate purchases? - page 5. (Read 5542 times)

If you advertised anonymous ship n click on Silk Road you'd probably get a lot of business lol

Lot's of bitcoins went to buy Asics, pizza and amazon credits. Lot's are used to buy virtual visa cards too

One telltale sign of legitimate business transaction volume comes from a press release from major bitcoin transaction processor bitpay, which claims a reported volume of 5.2 million in the month of march. According to the aforementioned chart, a volume of $130,643,703 occurred on all major exchanges during the month of march. 5.2 Million of $130 Million is 4%, this is including precious metal dealers who act as a proxy currency for coin sellers who wish to remain anonymous. That a legitimate business must compare itself to a criminal enterprise as some sort of symbol of merit reveals the state that bitcoin is in. What this then becomes in not an issue of who is profitable, or whether the price will ever become stable enough to be useful as a currency, but what congress will think when it comes time to determine whether this new currency has enough legitimate use to warrant keeping it legal. Unlike the speculators that plague the markets in hopes of using this new technology as a manipulative get rich scheme, we bitcoin entreprenurs actually believe in this currency enough to ride our whole business on it, but as we are finding out the hard way it looks as if we might be the only ones.



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It was Paypal President David Marcus that said "The big question is whether [Bitcoin] is going to go mainstream or stay limited to just a few zealots and criminals." I started my bitcoin business, stampbit.com, with the intention of finding out for myself. Its been two months since i have started and have seen very little interest for this bitcoin version of USPS click'n'ship. No its not instant like clicknship, nor can i reasonably compete with my supplier on price, but then again i am trying to provide something that may prove inaccessible to anyone without a paypal account or credit card, and do it in a way thats much more convenient that how USPS does.

But you'd think after two months i'd get the hint, no one cares! Yet i realized it was not only me when i stumbled upon bitcoinstore.com who so generously posts their sales figures in order to urge buyers to take the initiative and support bitcoin by allowing them to remain competitive. For these last two months ive seen these figures climb at a snails pace, in line with my own business. So maybe by business was just a bad idea, but what about bitcoinstores? Their prices are CHEAPER than its competitors newegg and BHPhoto! And they have all the same features as their competitors. Its only shortfall is that its selection is not as vast, but for a new businesses its selection is quite generous. So why then is bitcoinstore not beating them?  

• Price fluxations put all the risk on buyers.
• No one wants to take any risk when they have cheap, easy, safe, fiat.
  

And how do we create that price stability?

• E-commerce.
  

Alright so maybe bitcoin is just so small of an economy that it would not be reasonable to expect any business to thrive solely on it. How big of an economy is bitcoin exactly, in terms of USD? Looking at blockchain.info's USD transaction volume chart we can see the daily transaction volumes this past month reach a low of 1 Million per day to a high of 12.5 Million. That is Per Day. How much of that do you think is going towards legitimate bitcoin business?



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