Post
Topic
Board Economics
Re: Keeping Bitcoin Price High
by
msweb
on 30/06/2013, 22:58:08 UTC
Haven't read all the replies. But here is where the idea of 'buying something nice instead' fails. We are still not at the point where a business can function without any fiat money at all. Imagine the business that is taking your Bitcoins needs to cover their costs with USD (or similar) and is likely forced to sell some or even all of the coins through exchanges. That leads to the same effect in having a prize drop. It might be worse because they don't care about the maybe already low prize, they just want to get their costs covered with almost no risk. This could lead to a much worse prize drop. I'm not saying all the business will do it, but I think most of 'em will.