No the idiot is you who thinks that trading bitcoins for shit you don't really need will support the price.

unlike credit cards that have large equipment costs or subscription costs.. accepting bitcoin is cheap and free of contracts, thus even if they dont see customers use it for months, the business can still offer bitcoins without any worry about costs...

so are you an idiot??

Yes of course. 99,9% of store which accepts bitcoin for payment converted instantly bitcoin to fiat and with this they exercise much pressure to market.

newegg do not sell groceries or consumables that need purchasing every week. they know that their business model is such that peopl will only buy a TV/computer once every 4 years.

their business model is not based on repeat business everyweek.

newegg, overstock dont really care about repeat business of large goods and all negative points raised about bitcoins usability have nothing to do with raising the market price nor raising merchants desires to continue accepting bitcoin.

for instance overstock CEO see's the real benefits of bitcoin and is not worried about any negative crap said in this topic, he see's the bigger long term picture

I never claimed it was the primary reason for the falling price.

thats a myth too.. miners are not selling out instantly. most of the exchange markets are not doin much FIAT bank transfers in comparison to daily trade volume..

well over 90% of price movements is done by bots/daytraders who play with the prices, without withdrawing/depositing

The miners are suppose to sell, there job is to mine not to hord. No Gold miners is hording gold, they sell it instantly.

No, it really won't.

At this stage in the game there is no plausible scenario where "the whole thing falls apart". Sorry your get rich quick scheme is taking longer than you hoped. No wait, I'm not sorry at all. Grow up and Fuck off.

I agree with OP about spending more bitcoin to get the bitcoin economy going, but buying stuff with coins we are holding is not going to help. We need to buy bitcoin from exchanges first, then use those coins to buy stuff.

Once the smart contracts come into play and even your grandmother has to register her car online through the blockchain by paying with Bitcoins, that's when things will really get real. You have to look at the big picture. Blockchain was created with Bitcoin(p2p payment system) and once the network was large enough and stable, add the smart contracts. Bitcoin is the payment system for the smart contracts using the blockchain. That's been the plan since 1994, it hasn't changed, it's all documented in great detail through the entire process.