Bitcoin Forum

http://blogs.wsj.com/venturecapital/2013/05/07/coinbase-nabs-5m-in-biggest-funding-for-bitcoin-startup/

Isn't the cost of complying with FINCEN $25m? I think they need at least $30-40m to comply fully with regulation.

Guys, this is a huge deal!

Do they call you Mr. Silver Lining? ;D

Another big development and the price just sits there. Excellent buying OP.

Liquidated my short position at $110. This is big and I'm a bull now.

Source?

wow, big news ;D

I'm confused.


Why is this big news?


How is Coinbase different from other places to buy bitcoin?

Uh... the price hasn't followed the news for a month...

*facepalm*

I've bought back in as well, not because of this news but I just felt bullish suddenly when I looked at the charts and ask/bid depth.

read the article and you will know, thank you

Biggest infusion of venture capital yet into the Bitcoin ecosystem, by far. It was big news a few months ago when Coinbase raised half a million, so this news is ten times as big - though it's true that back then there wasn't much big news at all so it stuck out more.

Its made up. Fake news

Cheers

*double facepalm*

Thanks.

They call me crazy because I diverted some of my spare cash away from alcohol and into Bitcoin  ;D

About fucking time.

Now maybe we'll be able to buy and sell bitcoin there, instead of just selling.

I use Coinbase!

Very impressive, kudos to coinbase on their massive success.

There wasn't any real news for a month. This is real news. Price already up 2% in a matter of hours.

There was plenty of news, good and bad.

2% is nothing compared to the daily volatility.

Plenty of news about Bitcoin, sure. But contrary to popular belief most already know about it. The news does not cover anything big that happened in Bitcoin.

CoinLab's lawsuit was news, and was when I took out my short (and sure enough, CoinLab's news brought price down).

This is the only real good news we've had in a month or so.

Except Bitcoin on a 30-min Chinese government CCTV-2 report.

When the Coinlab news broke, the price was already going down.

The fabulous coverage of Bitcoin at Techcrunch wasn't a good news for you?

What about the China half hour report and the following 25k Bitcoin-Qt download?

You mean 50k Bitcoin-Qt download, right?

Should have mentioned in 24h  :D

What? The price is a Bitcoin new barometer.
The only constant I've seen, in 3 years is Bitcoin can be used as a medium of exchange, and it won't inflate past 21Milion. 

That isn't news. Nothing "new" was covered in the report. Most people already know about Bitcoin, and the report is unlikely to do much.

partly do to me... keep buying them daily on there. but it does take a week to prosses so buy for the long not the short.

^^This. People just aren't trading on news, at least not like they used to (probably a good thing, though.)

The recent bumps and dumps we've had have only been loosely related to news stories happening at the time; we've seen a pretty steady press saturation so press doesn't have the impact it once did.

Where were you shorting?

how do you not know this already?

Bitfinex.com

This got me thinking, (a trend reputing itself) in 2011 /12 I stopped watching the price and just focused on the economic principles (and the news) at play in Bitcoin.

Every now and then I would have an overwhelming urge to invest, and I would check out the market and make my call, it worked well (well not great, just well, ultimately I called bubble around $13, otherwise life would have changed.)

So my thought, I haven't found myself price watching now for a few weeks, and just reading the news, and I have occasionally thought now this story is bullish but like PayPal CEO John Donaho, mentioning Bitcoin, and have just looked to see if it has an impact on the price, and yes, it sure does, up 30-40%, or Bitcoin foundation members suing each other, and secure enough its down, or China publishing news on Bitcoin and sure enough it is up.

This news (Coinbase) to me is the biggest, it implies more infrastructure, so yes short term bull trap in a bear market, but this is looking strong for long-term growth. 

I doubt. Once the US Feds deregulate it without any warning.. BTC will go to zero to a penny!

USA will now way have 1 BTC = 100US$

They would want 1 US$ = 100 BTC << REALITY!!

First you call the OP fake news. Then this. Just go...

Another:

This is exactly like oil speculation except oil companies manage to bump up the price constantly.

Needless to say this is pure speculation and nothing else. Look at the market right now.

People with five million dollars don't dump it into companies which are supported by speculation alone.  Period.

I think you misunderstood what I meant, I was referring to OPs price claim. The second line I mean. The first was a generality towards the majority of the speculation board.

and in BTCs case aren't the people with five million dollars able to play with the price to their hearts content?

I mean no disrespect Sensei. I have much to learn from those more experienced than I.

Edit: if you were talking about oil companies well thats self explanatory. Monopolies and all that jazz.

Ahh.

But no - I don't think five mill is enough to totally control the market.  In fact, I suspect that some of the whales are getting fucked.  The bitcoin people with their new wealth do stuff that experienced speculators would never expect.  It must be frustrating to a professional in this market.  I have no sympathy.

I learn more every day here - I just wish I was better at unlearning.

A TV report is not news.

I'm absorbing as much as I can as well. In my case, I learn fast, discarding is easy and have suburb instincts and sense. BUT, there is one thing hampering me.

Bad luck. I'm still bleeding because of missing the mark by 50 cents. fml

Anyways I don't know what to think about the whales. I mean, those 1000 sell order walls, this and that. I really hate the idea of rich pricks gaming the market while screwing everyone else.

I don't think he meant that the TV report was news.

I think he meant that the existence of the report itself was the news, regardless of its content.

If you learn how to predict the whale behaviors you can ride their tails and make some money along with them.

I don't worry about it any more.  And really, if it wasn't for the whales right now, bitcoin would be much, much smaller - and growing much more slowly.  They'll get their fiat dollars and then they'll go away to the next thing, for the most part:  looking for the adrenaline pump they feed on.

But in the long run, we'll get the things that bitcoin is for.

Fair trade.

In the grand scheme of things, this doesn't seem like much to me. At $110/BTC, $12 million dollars worth of BTC are mined per month.

Warren Buffett, on Bitcoin: “I’ll put it this way, of our $US49 billion we haven’t moved any of it to Bitcoin" (WSJ Blog)

Usually the cognitive dissonance created when someone believes they are smart and skilled and are faced with the reality of failure or bad decisions is solved in the brain by blaming it on "bad luck".  Don't be that guy dude.

Maybe next time spread your asks and bids out a bit so that you incrementally buy on the dips and sell on the rises in price.

Either TA is bunk and all of trading for Alpha is luck, in which case your instincts and sense is a moot issue, or it isn't and your instinct and sense will win out long-term and no "bad luck" will keep you from profiting long-term.

I've made money in my trades so far, but I'm not convinced it's due to any sort of superior tactics but most likely just luck.  I'll need a much longer history of trading to get a better feeling for how well my strategies are working out.

We had a dip to 98 yesterday where I was able to get back in for a small BTC profit, I'd be surprised if we didn't get another opportunity like that or better in the near future.  Good luck man.

hell yeah! Munger is correct. It's rat poison... poison for the rats. These bankster rats.

You forgot this:

1.    United States    0%    0%    3%    9%    0%    2%    37%    928,407
2.    China    0%    0%    1%    2%    0%    1%    65%    258,086
3.    Germany    0%    0%    4%    6%    0%    1%    31%    206,545

China in second place now...