Bitcoin Forum

Why? Because it makes a great mental method to calculate usd<>btc.
I love that's it's $100 right now so I know exactly my value in btc.

You mean up again?

the price is going down.. it fell to $88 and now its going down again.

Never mind then a lot of new asic companies dumping btc.

Well, so is $1000 = 1BTC actually ;)

Exactly next resistance is 1000 or 10 :/

i prefere 1000 $ :)

I prefer $10 :)

ok, I prefere 10$ tomorrow (because I will have some money comming in) and then the day after 1000$  ;)

Yes 10 first then 1000
See I'm somewhat right it's holding on to 100.

Little secret: It won't be 10

Could be since these asic companies are dumping millions

Don't think the companies are dumb enough to manipulate the market down as it then cuts into their profits.  It is more than likely someone looking to capitalize on shorts of BTC/lower prices.

It seems plausible they keep stopping at $100 and it's bitpay, do they really care? They could be trying to buy cheap. Great position to be a manipulator.

Well it can be 100 cents right? Touch wood.  But the last time I saw the price in Mtgox it was exactly $100.

I am a savant

Mental math resistance points (like $100) don't consistently apply in large liquid markets like forex, (look at the JPY/USD exchange rate jumping all over the place the last few weeks)  I definitely don't see any evidence they exist in BTC/USD.  

This volatility could be in part due to it being a weekend in most of the markets BTC trades in, or simply endemic to a currency with total market cap around $1B USD, either way I still think it's a great asset to hold over the long-term, but not a place to park your rent money.

True but forex has too many pips and both sides are a currency. Here we have only usd usually and btc still in whole units.

If you think forex has too many pips you should stay away from BTC altogether with its 8 decimal places.  I'm not sure what you mean by BTC still in whole units, also BTC can be exchanged into many varieties of fiat besides USD.

No one pays attention to the decimal places, yet.

Based on what?  All I see is an opinion with nothing to back it up.

Technical analysis is all opinion

Does bitpay have enough fiat money to keep all most of earned btc waiting for a better price in the future?

I don't think bitpay has millions of dollars. And I doubt they want to mess with other people's money. It would be shady exchanging it themself as they can find the "lowest" price to sell at. Selling at an exchange keeps it official. They sell the same day and wire it. They can keep their cut in btc though.

They certainly do have millions of dollars[1], but I agree they wouldn't fuck with speculation when they have a steady revenue stream that does not depend on price.

1. http://m.techcrunch.com/2013/05/16/an-offer-you-cant-refuse-bitcoin-startup-bitpay-raises-2m-led-by-founders-fund-the-vc-run-by-the-paypal-mafia/

Yeah they are new paypal 1% of all transactions. They couldn't afford any shady exposure. If they made an exchange it would be conflict of interest.

But what pisses me off is why the hell do these companies get investors when they don't need it? They dilute their own interest. They don't need capital at all.

Connections can mean a lot more than capital.  Raising money from Peter Thiel in the payment processing space carries a certain cache with it.  Also as Tony Gallippi pointed out they hadn't yet run through their last round of funding, but they were going to have to raise some more along the way to being able to bootstrap the rest of their growth.