Quote from: manfred on October 24, 2014, 06:17:49 PM

Quote from: JimminyCricket on October 24, 2014, 06:07:08 PM

Quote from: hamiltino on October 24, 2014, 05:59:54 PM

99.9% of the time, paying with bitcoin goes through a payment processor such as bitpay, bitpay instantly sells your bitcoins for FIAT hence putting sell pressure on the market. So basically if people take your advice right now and start buying products with bitcoins, the price will fall.

No that is a myth.

The reason the BTC price is falling is that miners are selling immediately, and not hoarding.

The miners are suppose to sell, there job is to mine not to hord. No Gold miners is hording gold, they sell it instantly.

I'm inclined to disagree!
Holding gold reserves are equally important as that of capital raises (since 90% of the time that is what gold offtake is utilised for).
This topic itself requires a very deep discussion but I do assure you that it is not common practice to immediately sell off gold produced.

However in the broader topic of this discussion, I do agree that the future success of bitcoin and CryptoCurrencies in General is that of accessability. It is the key argument in the positives that Bitcoin poses to users. For Bitcoin to truly serve it's purpose of creation and to compete with conventional currency Bitcoin must become conventional currency itself be that in it's own form or indirectly via immediate FIAT exchange.