i think there's a screw loose somewhere around here.

buyers who have been holding their BTC are being given a real life chance to exchange them for something of value.  those BTC don't just disappear into thin air when being used to buy a BJ whether they use them directly or exchange them for USD's first before buying the BJ.  

someone has to now hold those BTC other than the original buyer.  thus, they've exchanged hands and you achieve money velocity which helps the Bitcoin economy.  this is economics 101.

i never said there was a difference btwn those 2 scenarios. 

i said they both have a net positive effect on the Bitcoin economy by causing BTC to exchange hands, ie, BTC is being used for productive purposes.

this has been facilitated by the HF policy of BTC-only pricing.

i think this is where your understanding of economics fails miserably:

you're using the term "cashing out" by the buyer or HF when someone buys a BJ as some sort of negative for the Bitcoin economy.  you think that it hurts the Bitcoin economy as if that buyer is "giving up" on Bitcoin in general.

nothing is further from the truth.  what's really happening is that BTC is now being allowed to circulate and create positive effects.  you're completely forgetting that there is someone else on the other end of that transaction who "wants" those BTC's, either the cc company or HF, thus creating an offsetting positive for the Bitcoin economy. 

someone always has to hold those BTC; they don't disappear.  whoever is holding them at a given time are typically those who "want" to hold them b/c they are bullish on Bitcoin.

You're trying to spin yet again.  I merely pointed out that there is no difference who cashes out, the buyer or HashFast, as far as bitcoin economy is concerned.


Cyperdoc, i'm beginning to feel guilty for assuming malice on your part -- you obviously think that money velocity is increased by simply exchanging one currency for another, as many times as needed.
Let me help you:
If you think that cashing out BTC into dollars increases BTC velocity, or that *buying BTC with dollars* increases BTC velocity, do this:

1.  Buy BTC with dollars from yourself, then sell it to yourself for the same amount.
2.  You're an honest guy, you probably won't cheat yourself, so your risks are minimal.
3.  ? ? ?
4.  Velocity!!!

would you please stop the strawman arguments?

i keep talking about what is really going on here by HF having a BTC-only policy.  that policy IS helping the Bitcoin economy.

otoh, you keep using this strawman argument of buying and selling to yourself as some sort of evidence that they aren't.  of course, the latter doesn't improve the Bitcoin economy.  but that is not what HF is doing, is it? 

They probably haven't thought of that, those techy types -- head in the clouds, so scattered when it comes to money.  I think it's a great idea.  Cypherdoc, please don't forget to thank the gentleman.

Cypherdoc, if they cash out BTC to fiat, BTC economy is not helped.
Otherwise, the best thing for BTC economy is "OMG SELL ALL THE COINS!1!"  It is not.  
Selling coins for dollars is not good for BTC economy.  
It makes no difference to BTC economy.  
It does not constitute velocity.  
Get it?

Fud?  But that's exactly what you have suggested.  Unless they are using my pre-order money to fund development and production, in which case they're cashing those coins out to dollars, and it makes no difference what BTC does.  If they're playing the market with my coin, and the price falls, will they be asking me for more money?  


I'm replying to your assertion: "they think it's easier and more direct for the buyer instead of making them go thru an intermediate step of a cc company"  
If they are indeed worried that it's too inconvenient for their customers to use credit cards, why *disallow* credit card use?  Why not leave the option on the table?  Or are you trying to be too clever?
 

I'm not attacking your character, though character is exactly what a spokesman is selling.  And the attack is far from a straw man -- you have regaled us with tales of your credit card daring-do to game those companies.  Well played.


Please go back and reread my posts.  Slowly.  Learn them by heart.  Knowledge is power, Cypherdoc.

Cypherdoc, have you noticed that nowhere in the wikip example do you have an instance of money being exchanged for another currency?  Would you like to guess why that is, or are you going to keep flailing?  

Edit:  When HashFast sells BTC for dollars:

a:  BTC velocity is increased.
b.  Dollar velocity is increased.
c.  HashFast velocity is increased.
d.  None of the above.
e.  All of the above.

    Increases the what for what when they have to sell it for dollars???  What happens to prices when market supply is increased?   

UR a lolacoster.  End of story.