Post
Topic
Board Bitcoin Discussion
Re: Why we shouldnt worry if Amazon doesnt accept btc!
by
pening
on 20/08/2014, 21:26:58 UTC
...
I think your both missing the point.  People say the issue with Bitcoin is they don't have much use for it other then speculating on the future price.  That issue is being addressed when they have the option to use Bitcoin for their everyday purchases.  Now if someone needs something and can use a Bitcoin that is one less reason to deny Bitcoin's value. ...

Yes, it does give Bitcoin more purpose and credibility, its one less reason to deny Bitcoin's use.  Not necessarily its value.  Here's the deeper economic point: its depleting its value, as you valued the purchased item more than you did the Bitcoin.  With normal currency this isn't an issue as the vendor values the currency.  However here they don't, and promptly offload immediately.  This is not a good thing long term, its a constant selling pressure on the currency.