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Or they immediately bough more bitcoin to replace the bitcoins they used. Or they had so many bitcoins that they're happy with the price rise and the purchases
by tlrobinson 13y ago
Or they immediately bough more bitcoin to replace the bitcoins they used. Or they had so many bitcoins that they're happy with the price rise and the purchases were insignificant.
Unless all of your wealth is already in Bitcoin then buying something with bitcoin isn't really any different than not buy butcoins with your other currency.
- dragontamer 13y agoTell me. Was the 10,000 BTC Pizza worth it? https://bitcointalk.org/index.php?topic=137.0 https://bitcointalk.org/index.php?topic=137.0 When the price of BTC goes up by orders of magnitude over the course of a couple of years, people are discouraged from making purchases of any kind.
- nkuttler 13y agoReally not sure why I can't reply to dragontamer, but yes, the 10000 BTC was worth it. It's one of the reasons why one BTC is worth $1000 today. Without this transaction we probably wouldn't be talking about it.
- dragontamer 13y agoFYI: Click on "link" and it is always possible to reply to someone. Usually, you are locked out of responding directly to someone for a few minutes. (The Hacker News way of talking is... bothersome. It is very difficult to hold quality conversations here). So clearly, YOU value the fact that someone paid BTC for pizza two years ago. And you continue to value the fact that people are spending BTCs as a currency. But can you not see that this dramatic rise in prices discourages future spending? Will you buy a pizza today for 1 BTC? For 0.01 BTCs? Or are you going to continue to hoard BTCs and hope the bubble goes even higher? People spending BTCs is the true value of Bitcoin, and the promise of the future. I'm worried what will happen when people stop spending BTCs because they've all turned into speculators.