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Originally Posted by Shifty86
I agree that's you shouldn't get to excited about that. That being said I've had a few friends (who are not into bitcoin at all) say it needs to be accepted by more legimate merchants before they'll start using or looking at it. Also I would assume a good portion of the people that currently spend bitcoin immediately rebuy more after spending it.
They can say all they want about adopting, but they aren't going to do it even if 100 merchants they use adopt. This is like the same people who say its too expensive and won't adopt until it goes down in price, then when it does, they say it isn't worth anything and will wait for it to go up to buy, then complain it's too expensive. Their words don't mean ****. Having a few big name merchants adopt is nice, and Overstock covered that nicely. It's somewhat of a thing where it keeps people from saying "oh, the drug currency".
Sure, a small minority rebuy, and playing the Bitcoin Rube Goldberg machine of exchanging Bitcoins for fiat for services to turn fiat back into Bitcoins is idiotic. But there are no shortage of idiots in the Bitcoin space.