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BitCoin's price seems to be stabilizing a bit, which means it's less deflationary. This I think is whats starting to encourage people to use it for commerce ins
by pelle 14y ago
BitCoin's price seems to be stabilizing a bit, which means it's less deflationary. This I think is whats starting to encourage people to use it for commerce instead of just holding.
It will be interesting to see what happens to these initiatives next time there is either an upward or downward move in price.
- mtgx 14y agoThe bigger the economy behind it starts to become, the less it will be affected by speculation-based transactions, too. So in the future I doubt we'll see crashes like the one from $30 to $10 again. Does anyone know if Paypal gave a reason for blocking Bitcoin? Is it simply because it can be a competitor in the future? Oh well, more market for Coinbase and the others then.
- cwkoss 14y agoI think they have a general policy against using PayPal to exchange digital currencies? The _real_ reason is that lots of scammers used paypal to buy bitcoins, and would then initiate a chargeback. High chargeback rates are painful for payment processors, and lead them to dropping those merchants with the highest rates.
- dangrossman 14y agoFraud issues aside, I'd be surprised if there weren't regulatory concerns, especially considering how many countries PayPal is licensed in. Currency exchange might not be covered by their money transmission and banking licenses in all regions. The U.S. federal government has shut down other "virtual currency" companies in the past as well.
- peterjancelis 14y agoBeing deflationary is a feature, not a bug. But I agree bitcoin needs to stabilize in its variance even more so than it already has.