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On the flipside, doesn't this also incentivize vendors to accept BTC?
by matthew-wegner 14y ago
On the flipside, doesn't this also incentivize vendors to accept BTC?
- vshastry 14y agono, because if persons with BTC hoard them as a value store rather than spending them as a currency, the merchant won't see (significant) spending from BTC holders.
- deleted 14y ago[deleted]
- matthew-wegner 14y agoNot all sellers pin their BTC values to USD. What if I were offering you a $400 video card for $300 of BTC? (This is especially true of Silk Road prices, by the way). I have a suspicion that many people are spending their "hoarded" bitcoins, and also immediately moving to buy/mine more...
- Houshalter 14y agoThe only reason to hoard bitcoins is if you plan on spending them eventually. In the long run the same amount of bitcoins will get spent.
- mpyne 14y agoTell that to the merchant who needs to make payroll this month, not in the long run.