Re: [2015-01-29] McDonald’s might start accepting Bitcoin soon
Why am I the only person, not happy about this? Just what we need.... another HUGE organization, who come in, adopt Bitcoin to get them a new source of income.
They then take ALL those Bitcoins, and convert them to fiat to pay their bills. This drive the price of Bitcoin lower, due to a increased in dumped coins on the exchange and then that force the trolls and shills to come out of hiding. {They only come out, when the price is low... screaming "Bitcoin is DEAD"}
Bring the REAL Bitcoin merchants... like Overstock, who have it's best interest at heart and I will gladly SUPPORT them.
They then take ALL those Bitcoins, and convert them to fiat to pay their bills. This drive the price of Bitcoin lower, due to a increased in dumped coins on the exchange and then that force the trolls and shills to come out of hiding. {They only come out, when the price is low... screaming "Bitcoin is DEAD"}
Bring the REAL Bitcoin merchants... like Overstock, who have it's best interest at heart and I will gladly SUPPORT them.
. Companies accepting bitcoin whoever they are is not a bad thing. There are always people buying back the bitcoins. Do you really expect for everyone just to buy coins to hoard them? Not all businesses can keep some or all of their coins and it would probably be bad business practice for them to do so.So you saying ALL companies use ALL their profits, and never go to a bank and deposit it in a savings account?
Nope, I disagree with you.
A business does keep some capital back as a saving for a rainy day... The problem with Bitcoin/Merchants are that they use Bitcoin as a vehicle to get more money, and then they hoard none of it, and they just convert back to fiat. They will then pay their overheads and deposit the rest in a savings account at a bank.
If more merchants kept that disposable income in BTC, the price would have gone up and they would be getting more interest than they currently get at a bank.