Re: Ironically, the best way (for the bitcoin ecosystem) to spend your bitcoins is..
So, we all know that with merchant acceptance and people using bitcoin more, the price goes down because most of the merchants convert (sell) the bitcoin to fiat at the moment of the purchase.
However, there's a way to avoid a sell-order when using your bitcoin to purchase things: using services like PurseIO or Brawker!
Therefore, ironically enough, the best way (for the bitcoin ecosystem) to spend your bitcoin, is using it with merchants that still don't support it...
I wonder if there could be a way to convince BitPay to implement the best of both worlds here? Whenever a purchase is made, don't put an immediate-sell order on the market, but just place a bid (offering the customer a small discount in exchange for a small delay to confirm the transaction maybe?).
However, there's a way to avoid a sell-order when using your bitcoin to purchase things: using services like PurseIO or Brawker!
Therefore, ironically enough, the best way (for the bitcoin ecosystem) to spend your bitcoin, is using it with merchants that still don't support it...
I wonder if there could be a way to convince BitPay to implement the best of both worlds here? Whenever a purchase is made, don't put an immediate-sell order on the market, but just place a bid (offering the customer a small discount in exchange for a small delay to confirm the transaction maybe?).
The best thing for bitcoin price may not necessarily be the best thing for Bitcoin.
Merchants who accept bitcoin may negatively impact bitcoins' price in the short term (if they convert it to fiat), but they are good for Bitcoin in the long term.
That's a good point. However, one of the best ways to raise bitcoin awareness is, unfortunately, btc value being higher.
That's like the "need experience for job" && "need job for experience" conundrum...
I'm really interested in seeing how it'll change in the coming years.