Post
Topic
Board Speculation
Re: BitPay is not Bitcoin....persistent foreign exchange risk costlier than CC.
by
loanexpress
on 25/04/2013, 00:30:19 UTC
I think you're missing an important point.

Yes, a lot of the bitcoin believers as you call them are hoarding and saving now. But as those bitcoins gain in value people are going to want to start spending them. For instance when BTC hits $1000 or above you can bet people want to start spending and buying luxuries with their new-found wealth. And all that value is already in BTC. Also the spenders would prefer staying in BTC and transacting directly rather than having to convert to USD and then having to answer awkward questions from the IRS etc.

So as a merchant, why would you not try and establish a foothold now in what is surely going to be a very profitable newly wealthy class of consumers?