Originally Posted by Syan48306
Clearly, you haven't traded bitcoins or follow it closely. Should newegg go live with Bitcoins, it would further legitimize bitcoin as a form of currency. It doesn't matter if Newegg just dumps it back onto the market, it'll be an insignificant amount that they're dumping anyway. It's only tens of thousands of dollars when you've got people executing 100 coin buys and sells ie. up to hundreds of thousands of dollars.
In any case, this news will cause a panic buy which will make the price shoot up. That's when you sell your own coins and make a profit!
That depends if this gets any media coverage, since what Newegg does it not really taking the Bitcoin in (since they just dump them again).
We can agree that there may be an rise in Bitcoins, but that will be due to media coverage and people will then think it will get more value, and no one will sell and people want in = price goes up.
It will course a panic buy due to the possible media coverage and the belief that the coins value will rise.
NOT because Newegg begins using it as a payment; AGAIN, why should people first buy a coin, and then use it on Newegg, when they could just use the dollar instead (same price if no fees on transaction) = no fees and time wasted.