Quote from: jjc326 on July 22, 2014, 02:19:53 PM

Quote from: defaced on July 22, 2014, 01:43:00 PM

Quote from: thepowerx on July 22, 2014, 01:23:26 PM

More and more company accepting bitcoin as mean of payment.
But why bitcoin still down, anyone can give me some reasonable explaination?

Perhaps because everyone who accepts btc is doing it as a middle man payment and dump directly to fiat.

Lets say you buy a couch from overstock. Overstock takes btc but instantly dumps btc to get usd. So merchants are a double edge sword if all they want BTC for is the news coverage.

I think the price has already "factored in" that many new entities are using Bitcoin more and more. Agree with prior poster and everyone getting it and then dumping it into fiat as well. I think BTC will need some more positive news, like new regulatory discussions, or some really big entity to accept it to cause the price to increase. Just because it's used more does not mean the price will go up. In fact I think at some point BTC is better off if the price stays the same with less volatility.

I agree, as a currency, BTC is better stable. As an investment instrument for day traders, they want volatility. But imagine if the USD had 100% swings. Today a bigmac cost $3 tomorrow it cost $6 and the next day it cost $1, its hard to do anything during those times and the economy would come to a grinding halt.