Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Fatman3001
on 28/11/2014, 16:25:26 UTC
Quote from: hdbuck on November 28, 2014, 02:52:36 PM
Quote from: Fatman3001 on November 28, 2014, 02:19:34 PM
Quote from: hdbuck on November 28, 2014, 02:11:45 PM
Quote from: RUEHL on November 28, 2014, 02:06:24 PM
Quote from: catena5260 on November 28, 2014, 10:09:15 AM
We will see a recover after the black friday.

Won't we?

Some fear huge BTC spending from the first Black Friday by large retailers offering use of Bitcoin (Dell, Overstock, Expedia, Newegg, etc...).

Retailers don't keep BTC, they dump to FIAT.  

So essentially, when you spend BTC on items you are essentially dumping it on the open exchange.

Yup +1
Hold you mofos

If nobody uses XBT, retailers are not going to offer the option and we will have no more user adoption. No usage, no value. So spend like a mofo and buy back instead!

Its not because you dont spend btc that you dont use em.. Roll Eyes
Use It as a store of value. Hoard and reduce overall supply. Then let macro economy do its shit.

Édit: otherwise you Will just get burned by trading bots and banks and miss thé next train

I am not sure if we really disagree but I will try to rephrase myself. If nobody spends XBT to buy stuff or transfer value in some kind of transaction then you will all soon be hodling monopoly money. Its utility as a digital currency is what makes it valuable, It is what separates it from a pyramid scheme. If you need something and you get a black friday discount + Bitcoin discount, that adds up. Any movement in XBT value would have to be pretty radical if it's going to offset that before you buy back in.