Bitcoin Forum

A tweet from Max Keiser:
https://twitter.com/maxkeiser/status/505451583912820736


"Bitcoin price will double on this news: UK seeking to bar Russia from using SWIFT banking network – report http://on.rt.com/a9n8ml "

Someone should tweet him back saying "But Max, Russia already ban bitcoin! "

LOL i hate this clown so much, i wish i'm close to meet him to show his true skin.

Im hoping people will begin to move away from comments like these.

Bitcoin price only goes up when consumer adoption begins.  And we are not to that point yet. 

Demand en masse must occur for the price to rise.  We are still in merchant adoption phase.

-B-

If bitcoin's value would double it will be still under the previous ATH... when a news which will triple the price?

i prefer bitcoins price to rise due to actual adoption of people using bitcoin to send funds to UK<->Russia because they cant use FIAT. i do NOT want bitcoin to rise on the fake news of speculation of the news.

ACTUAL usage to cause bitcoin rise is best. as its more sustainable to create higher resistance points.

News doesn't move bitcoin. This is one more example. The Russian situation is definitely something to watch though

Bitcoin did not double on the news, nor will it likely cause the price of bitcoin to move. It has long been known that economic sanctions are going to be placed onto russia as punishment for their involvement in the ukraine.

So they have to get the whole EU to agree to this? That could take forever, if it's even possible to get them all to agree to the same thing at the same time

Yea if bitcoin just moving on news then we are already touching 10000$ but its need something more then these news

They all agreed on the euro. I would not be surprised if all of europe were to agree to this however I don't think the russians would be buying bitcoin in masse because of this. There are few ways to use bitcoin in russia and the government is not exactly friendly towards bitcoin

I think not

first of all, it's not even sure if the sanctions go through, and what effect the sanctions will have.

second, Russia banned bitcoin and it's unlikely they'll allow bitcoin to be used.

Yes, i know you can still use bitcoin even if it's not allowed bu your government, but as you can see from china, people do not really want to do illegal things, especially if they do not understand the benefit yet.

I dont see how this news is good for bitcoin in any way, let alone that it will double the value.

technically the ATH is €3200 now (about $4100) so the price needs to increase by 9 times to reach ATH. (Although the previous ATH was a flash rally and lasted only a few hours and only on one exchange and only for euros)

Isn't Max Keiser on this forum as well? (I think I saw that somewhere lol)
You could create a thread asking him to talk to you. xD

But I also don't think this news will double the price of bitcoin. There have been several other good news recently that had no effect on the price, so I don't think this will help. As others said, only widespread adoption is likely to work on the long term.

The more interesting story is the potential for a currency crisis with the British Pound and/or the state of affairs for Scotland should they secede (which, for the long-term, I definitely think they should but in the short-term it will be painful for them). Of course, even this involves countervailing impacts. On the one hand, more people might use Bitcoin for remittance purposes, temporarily. On the other hand, it makes the dollar a stronger reserve currency which weakens gold and probably Bitcoin at least in dollar denominated value.

All of these things are, of course, speculation. Meh.

Nowadays everybody dismisses this saying that price isn't affected by news.

Back when news did affect price people would have said that it would affect news.

This is pure nonsense.  It rose a billionfold without consumer adoption.

but seriouscoin, bitcoin is not optional, is mandatory

News is already built in basically a non event.

its not. not this kind of news. no way in hell.

I think max saying its going to double on this news is nuts. but hes got the right idea, banks and or governments regulating and controlling what its peoples can or cannot do with "their" money, will only further bitcoin's cause.

No.

Paypal itself made nothing to the price.

And it is a promise too, nothing concrete so far.

Bitcoin needs another monster wave of speculative bagholders for the pyramid to continue. Will that ever come, who knows. Til' then...Russia, Paypal, and every other boogeyman the btc shills throw at you dont mean shit.

IMO news affect price but there might be some time lag.

News affects people's view of the long term usability of Bitcoin instilling investor confidence and buy orders. News can affect bitcoin price, whether or not bears like to admit it. The stock market is not immune to news, why should bitcoin be?

Of course news can affect price, we've seen that with China and MtGox for instance. The MtGox fiasco probably did the most damage to confidence and the image of BTC in the public eye and could explain why the price is still in a lull despite all the good news recently. But there are also many more factors involved and markets can ignore fundamentals and stay irrational for a very long time so it seems like news often does absolutely nothing. It also depends on the kind of news obviously, as news about a critical bug in the protocol will have a much bigger impact than some news about some online webshop accepting Bitcoin. I don't know how this particular news will affect the market but I doubt it will immediately double because of this. It could however lead to more awareness to the idea that maybe we do need a decentralized currency not under the control of any governments or big businesses.