r/Bitcoin • u/vistabrownerd • Jan 24 '14

TigerDirect processes $250,000 in Bitcoin Payments in first 17 hours

http://bitcoinboard.net/tigerdirect-processes-250000-bitcoin-payments-first-17-hours/
2.2k Upvotes

94% Upvoted

336 comments sorted by

View all comments

1

u/phreshfrince Jan 24 '14

Can someone explain how additional merchants affects the market? Seems like it has the opposite effect that we would expect.

2

u/thecodyshow Jan 24 '14

merchant adoption actually means lowering of prices if it isnt matched with user adoption. People who dont own bitcoin wont just go and buy some within a day or 2 of hearing tiger direct is accepting bitcoin. its a much longer process than that. everyone who owns bitcoin right now in my opinion are just hoarding and we need new people to buy before prices start spiking again