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    Author Topic: Pricing commodities in bitcoin - blah  (Read 1106 times)
    jostmey (OP)
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    August 22, 2011, 06:00:20 PM
    Last edit: August 22, 2011, 06:31:37 PM by jostmey
     #1

    What is important is getting people to start buying stuff with bitcoins.

    Right now the value of bitcoin is almost completely determined by the demand from people speculating on bitcoin.

    More vendors selling bitcoin merchandise are needed to change this. Every vendor who values their merchandise in bitcoin is helping to anchor the value of the currency to the commodities they sell. In short, they are pseudo-backing the currency with a commodity.

    If this does not happen, the value of bitcoin will likely continue to float around wildly as people try to decide its worth as a stock. I personally believe bitcoins have very little worth as a stock. But that is just my little opinion.

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