News for hackers. Stuff that matters.

A comment on Bitcoin Is Fundamentally Flawed. Parent comment

Re:Bitcoin Is Fundamentally Flawed by vshastry on Monday April 08, 2013 @01:55PM (#5513315)
no, 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.
[ Parent | on HN ]
Re:Bitcoin Is Fundamentally Flawed by matthew-wegner on Monday April 08, 2013 @02:15PM (#5513467)
Not 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...

[ Parent | on HN ]
Re:Bitcoin Is Fundamentally Flawed by Houshalter on Tuesday April 09, 2013 @12:36AM (#5516464)
The 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.
[ Parent | on HN ]
Re:Bitcoin Is Fundamentally Flawed by mpyne on Tuesday April 09, 2013 @02:41PM (#5520170)
Tell that to the merchant who needs to make payroll this month, not in the long run.
[ Parent | on HN ]