Quote from: An amorous cow-herder on July 24, 2014, 06:14:24 PM

Quote from: BTCtrader71 on July 24, 2014, 03:28:04 PM

Many early adopters intend to use bitcoin as a currency, and to hold it as a long term investment. Doing both at the same time means replenishing what you use as you go along. When I buy something online, I use bitcoin if I have the chance, but I prefer to deplete my USD savings rather than my bitcoin savings, so I do a quick USD -> btc -> purchase. If it's a miniscule amount then I might not bother with the USD -> bitcoin step, but if a bunch of miniscule purchases added up, then I would still eventually replete my bitcoin holdings.

Ok, here´s the thing i dont get. Why would anyone want to do that?
So you loose money on the exchange (fees), pay the transaction fee and dont get any fancy things like cash back you would get using a credit card. So, basicly you are paying a premium for being able to use bitcoin?

Yep, this is my other theory, is that Bitcoin will NEVER be popular for regular domestic purchases, even online. The regular consumer simply will choose credit cards, every single time (unless for some reason anonymity is highly valued).

Bitcoin will shine in international trade/purchase, and also legal grey areas, such as gambling, adult business and drugs. Bitcoin has become THE currency of the Dark Net Markets, Bitcoin also enabled Dark Net economy to thrive and grow exponentially. Eventually, the physical shadow economy of the world will pick up Bitcoin too. It's simply better.