Re: GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY :)
What are these people basing this on?
Math, Common Sense, and History say that a merchant will dump crypto as soon as they get it. Even a small (~$5,000/day) merchant would drive the price of XPY down an extra decimal place or two every day. There has to be liquidity (Buy Bid) depth enough to absorb a merchant or it simply does not work. XPY is no where near being able to support real merchants. "Somebody" told these idiots that merchants accepting XPY will instantly drive the price up and they never stopped to think about the way it actually works.
Math, Common Sense, and History say that a merchant will dump crypto as soon as they get it. Even a small (~$5,000/day) merchant would drive the price of XPY down an extra decimal place or two every day. There has to be liquidity (Buy Bid) depth enough to absorb a merchant or it simply does not work. XPY is no where near being able to support real merchants. "Somebody" told these idiots that merchants accepting XPY will instantly drive the price up and they never stopped to think about the way it actually works.
I believe that was if they are accepting it for above market value.
Like, if you grant that a large merchant with millions of items will start accepting xpy at a $20 valuation, then I could see how that would make the price go up.
The problem is that no proof of such merchant has materialized.
It just doesn't make sense for a merchant to do that. In real life if I give a merchant $20 for a widget, he puts some money in his pocket, and buys another widget (or something else to sell for me). If I give a merchant a paycoin for a widget, what is he going to do next? That paycoin is not enough to buy another widget (or anything really). No one has ever explained what the people (merchants, gaw, honors program, whatever) that pay $20 or give away $20 worth of product for 1 xpy were going to do with that xpy after they got it. There is no way to believe the $20 number (or any number really) without that explanation.