Post
Topic
Board Speculation
Re: I am predicting a spike above $3
by
cypherdoc
on 22/10/2011, 15:00:34 UTC
i submit that any merchant who believes in Bitcoin, especially if he has speculative juices in him, accept Bitcoin in payment hand over fist to accumulate as many as possible now w/o expending USD's before the true equilibrium value of Bitcoin is achieved, which IMO is WAY higher than what it is today.  thats my opinion.

Spoken like a true gambler. A merchant has to pay for his stuff in $/EURO/Yen whatever. Gambling on the rise of "foreign" currencies is not what a merchant does, its what a speculator does. A merchant will want to protect himself from currency swings through hedging, even for swings as minor as what have between dollar and euro's etc. The volatility of bitcoin makes that a complete joke.

spoken like a linear thinking, uncreative, narrow-minded conservative.  but thats ok.  you act like Bitcoin has had many decades to prove itself but failed.  the market is thin b/c its so new.  of course theres volatility.  do you think gold is a bad investment given its volatility over the last decade despite it being close to the best investment over that period of time? 

IMO, the easiest or safest way to "gamble" on the future of Bitcoin is to offer services or goods for it, put them away for safe keeping, then wait.  of course he can't do this for 100% of his income but if he has a profitable USD business and he believes in Bitcoin, why not do it this way?