None of these companies are going to accept bitcoins directly. Payment through a payment processor is not bullish. It indirectly causes selling pressure on exchanges.
The reasons we didn't see much selling pressure after Overstock is because so few are actually buying things with bitcoin. Overstock did 500k sales total since Jan 9. 125k was on the first day... That is a huge dropoff. Bitcoin = failcurrency.
The reasons we didn't see much selling pressure after Overstock is because so few are actually buying things with bitcoin. Overstock did 500k sales total since Jan 9. 125k was on the first day... That is a huge dropoff. Bitcoin = failcurrency.
Don't you think you've heard this point quite a few times already but that it doesn't actually add up?
If people pay with Bitcoin then that means they will buy Bitcoin to begin with.
And for all those who decide to buy some Bitcoin, perhaps spurred on by the fact that they learn they can spend it at Overstock, Ebay and many other places, how many do you think will buy some and then immediately spend all of it? Almost no-body.
Merchants adopting Bitcoin will lead to more and more new customer wallets, the owners of most of which will buy more Bitcoin than they need to spend immediately, leading to more and more fiat moving to Bitcoin over the long term.
Why can't anyone follow the merchant-adoption idea to its logical conclusion - More Bitcoin will be bought than spent.