Quote from: ChicagoSchooler on April 06, 2015, 04:05:12 PM

Quote from: crazyearner on April 06, 2015, 03:59:56 PM

That site only has a fraction of listed business accepting bitcoin.

Where?

Quote from: crazyearner on April 06, 2015, 03:59:56 PM

With places like bitpay and coinbase making it simple to integrate into websites and use for payment that site only has a fraction of business and growing every month for more business to accept payments.

Don't those services convert immediately to conventional currencies?

Looks like BTC holders are the suckers.

The site you have in OP http://spendbitcoins.com/places/ only small part of the sites that accept it. Most known ones are on it but theirs maybe 50 to 100k business using BTC if not more and smaller and unlisted business using in towns across the globe.

Yes both them can convert on the fly to Fiat but can also just stock it up and have a reserve of funds to put into it too so they can stock up on BTC for the future. I know a few company's who do this set reserves aside for the items they sold and off set it.

Some do sell instantly some who are bigger will save or even do a split on it so that if it does spike up they get 2 to 3x the value back. Is like me buying BTC at $200 then selling at current price . Or buying at current price of $255 or items to that value holding the coin I received for items and waiting for value of BTC to go up and get more for that stock sold etc.

Quote from: NeuroticFish on April 06, 2015, 04:16:16 PM

Quote from: ChicagoSchooler on April 06, 2015, 04:05:12 PM

Don't those services convert immediately to conventional currencies?

Looks like BTC holders are the suckers.

Those shops are inside a country which has its own currency in which they have to buy the goods they (re)sell and they pay the taxes.
I think that you expect too much if you think that they will put away more bitcoin than their profit.
Clearly, only few will do even that. If the market trend will go upside, the number of holders will also rise.

The only "suckers" are the only ones that bought at 1000$ and around.
Some bought at under 1$. They are not that gloomy as you...

Someone buying at $1000 I was buying/selling at them prices well buying at 800s and making as it was going up. Sold off around $1200 area and a squeeze more when it peeked and plummeted down due to gox falling apart but the ride was insane but at same time seen so many got shafted gonna take a lot of work to ever pass the $1,000 area unless BTC gets adopted more and used more and more demands for it.