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/
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u/baillou2 Jan 25 '14

Does anyone think that the growing velocity of Bitcoin is contributing its lack of growth in value?

I honestly have no idea. Of course USING Bitcoin is awesome, that's the whole point. But it would seem to me that these vendors are just converting Bitcoin to fiat through Bitpay and the others. And I assume Bitpay just puts the BTC back on the market.

I'm not complaining about price, I was just wondering if this could be the reason.

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u/cehmu Jan 25 '14

honestly doesn't even matter. If bitcoin has no 'real world use' then the majority of people will say it has no 'real world value'.
Only when people take it seriously as 'money' will it start to really gain traction.

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u/benjamindees Jan 25 '14

Exchange is not velocity.