Zealots and Criminals, Is no one using bitcoin for legitimate purchases?
It was Paypal President David Marcus that said "The big question is whether [Bitcoin] is going to go mainstream or stay limited to just a few zealots and criminals." I started my bitcoin business, stampbit.com, with the intention of finding out for myself. Its been two months since i have started and have seen very little interest for this bitcoin version of USPS click'n'ship. No its not instant like clicknship, nor can i reasonably compete with my supplier on price, but then again i am trying to provide something that may prove inaccessible to anyone without a paypal account or credit card, and do it in a way thats much more convenient that how USPS does.
But you'd think after two months i'd get the hint, no one cares! Yet i realized it was not only me when i stumbled upon bitcoinstore.com who so generously posts their sales figures in order to urge buyers to take the initiative and support bitcoin by allowing them to remain competitive. For these last two months ive seen these figures climb at a snails pace, in line with my own business. So maybe by business was just a bad idea, but what about bitcoinstores? Their prices are CHEAPER than its competitors newegg and BHPhoto! And they have all the same features as their competitors. Its only shortfall is that its selection is not as vast, but for a new businesses its selection is quite generous. So why then is bitcoinstore not beating them?
And how do we create that price stability?
Alright so maybe bitcoin is just so small of an economy that it would not be reasonable to expect any business to thrive solely on it. How big of an economy is bitcoin exactly, in terms of USD? Looking at blockchain.info's USD transaction volume chart we can see the daily transaction volumes this past month reach a low of 1 Million per day to a high of 12.5 Million. That is Per Day. How much of that do you think is going towards legitimate bitcoin business?
http://postimg.org/image/wcvwaz2gb/
But you'd think after two months i'd get the hint, no one cares! Yet i realized it was not only me when i stumbled upon bitcoinstore.com who so generously posts their sales figures in order to urge buyers to take the initiative and support bitcoin by allowing them to remain competitive. For these last two months ive seen these figures climb at a snails pace, in line with my own business. So maybe by business was just a bad idea, but what about bitcoinstores? Their prices are CHEAPER than its competitors newegg and BHPhoto! And they have all the same features as their competitors. Its only shortfall is that its selection is not as vast, but for a new businesses its selection is quite generous. So why then is bitcoinstore not beating them?
- Price fluxations put all the risk on buyers.
- No one wants to take any risk when they have cheap, easy, safe, fiat.
And how do we create that price stability?
- E-commerce.
Alright so maybe bitcoin is just so small of an economy that it would not be reasonable to expect any business to thrive solely on it. How big of an economy is bitcoin exactly, in terms of USD? Looking at blockchain.info's USD transaction volume chart we can see the daily transaction volumes this past month reach a low of 1 Million per day to a high of 12.5 Million. That is Per Day. How much of that do you think is going towards legitimate bitcoin business?
http://postimg.org/image/wcvwaz2gb/