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comment by JakobVirgil
JakobVirgil  ·  3893 days ago  ·  link  ·    ·  parent  ·  post: Will bitcoin eat itself?

A very possible scenario but the first bit has to happen for bitcoin to become mainstreamed one really can not expect the retailers to buy and hold for liquidity issues alone. unless their vendors also accepted bitcoin I guess the dream scenario for bitcoiners.

If one of these major Bitcoin accepting retailers demanded that their suppliers accepted bitcoin then we gots a story.





mk  ·  3893 days ago  ·  link  ·  

I can see the suppliers accepting it as it could reduce transaction fees. However, they might do the same and quick swap for fiat. Currently only BTC customers and speculators are contributing to BTC's store of value. If merchants or suppliers had any incentive to hold it for a while, that could become a significant contribution and really get the ball rolling. Perhaps if suppliers liked BTC transactions, merchants might be willing to hold it for days at a time, particularly if its still attractive with swap premiums priced in to limit exposure.