Accepting bitpay payment is not equivalent to accepting bitcoin.
True, but they are leveraging the power of bitcoin through the possibility of international payments (without chargebacks). It's not ideal, but it is the first step and still an enormous marketing vehicle for bitcoin adoption. Second, wordpress isn't representative of anything.
Yes, actually it is. It's a flag in the ground to say hey, we are "risking it", using this payment method. This is an enormous step. Reddit isnt far behind I imagine and that will also have a big impact. I disagree on the EFF front however. Bitcoin IS still in a legal grey area (officially) and in order to ensure they stay fighting the good fight (and that their enemies dont have any reason at all to come after them), they need to stay away until its set. Its only egg on the face of bitcoin if you dont understand this point. |
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It sets a precedent which is not even close to priced in yet.
so you're saying that that single business venture is worth more than a doubling of value for every single one of 10 million coins? I am continually amazed at all of the smart people around here who can't see the larger picture. Yes, this "single business venture" by the 4th largest site on the internet sets a (legal & commercial) precedent which allows others to easily follow in their footsteps. None of the big guys wanted to go first, but now that someone has its much easier to convince the CFO's in other companies to follow suit. And they are. Bitpay had signed up close to 1000 subscribers before the announcement (in total) and they now have over 2000 and another 1000 requests coming in per month. THIS is the metric people need to be paying attention to. |
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Overpriced?  Check out the market cap numbers, the signups bitpay is now doing post WP (which is increasing adoption widely btw) and you will find that the real speculators havent even begun to start gnawing at it yet. We are seeing slow, sustainable growth based and its not for nothing. The tide is turning and the mainstream is starting in. 2 years from people will look back at the WP announcement as the turning point for the currency. It sets a precedent which is not even close to priced in yet. |
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On Jun 2011 there were a huge rumors around internet about bitcoin. Even ZDNET wrote a bubbled article. Btw, i heared too about bitcoin from there. I came in with my money to trading. I guess many ppl also came that time not with empty wallets. And what? Did that changed futher collapse? You are so fucking native. Oh shit! Now the wires from WP users arriving! Lots of wires, trillions of dollars. Bitcoin will go to Mars to help Curiosity. We all will be reacher than Bernanke! FEDs sucks! Dollar will collapse! WHOHHAAA! So where are your wires? I bet the total balance on gox didnt changed even by 1%. You are fucking bublemakers. In 2011, adoption by the mainstream was still theoretical. Now it is actually happening. This is not an insignificant difference. Speculation causes bubbles (as you pointed out, that part of the WP announcement is over), building an actual economy will create metered stability in a gradually increasing price. See the difference? And yes, I am so fucking native  |
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Hehe. You think regular user will read about bitcoin, install bitcoin-qt, wait for a sync with computer total hang go to irc and buy bitcoins? Maybe he will read what is irc?  You know what is sales via bitpay? When you purchase goods/services via bitpay for 100 BTC - that amount is dropped on market. So what do you expect of wordpress? Speculative jump of bitcoin enthusiasts buyers? It was completed. New users are hard to enter bitcoin now, run it now and understand it now because of its complexibility, HDD killing and... I talked about that earlier here. Who says they need the qt client? I have never used it. Its far easier to get bitcoins now than it was just a few months ago (especially in the us) and this will be reflected in the prices in the coming weeks/ months. All of these businesses accepting bitcoin is an absolutely essential step and at the same time huge marketing for bitcoin. Ignore that at your own folly. Re: wordpress speculation jump completion, the speculators did in fact push it up a bit, but in terms of the larger effect this will have on the market, this announcement is far from fully priced in. It wont be priced in for months/ years and we are talking multiples of change, not 10%. The speculators are far too few at this point to have baked in the true value of what this means for the price. I'm not sure if you really don't see the larger picture or you are just trolling on this. Re: HDD that whole thing (along with this entire thread actually) is just FUD. I could choose a few lines of my own based on indicators that say exactly the opposite. I, however am not looking to manipulate the price via lines I pulled out of my ass and a failed offering to satan. |
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Yeah I understand your logic, but I have far less faith in these indicators you use. I do not think they predict anything really, they can affect the price however given the sentiment - because they are in essence a self fulfilling prophecy.
There is far too much moving forward for bitcoin right now to keep it down. Just the wordpress announcement plus the insane amount of sign ups that bitpay is doing post WP announcement is large enough of an indicator for me of where the market is going.
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Just got back home from vacation, and what do you know. Adam is still being a bear  yup I'm still waiting for a measly drop to 12.50, come on Mr. M I'm not asking for much! Mr. M has been selling for weeks dude, he is pure fiat right now |
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I honestly dont see way up from here. Either down or sideways.
I see good way up from mid-11s/sub-12s.
Quoting this for use three days from now |
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Gold collapsing, Bitcoin up.
Did the number of your subscribers rose lately? no. i wish. my problem is that there are a few guys around here who love to troll the hell out of me which does not help  and i'm not one to just hit the ignore button. (which doesn't help either) Try open sourcing things. In that world, people who demonstrate a significant expertise in a particular field are often retained by those who value said expertise. In exchange for money. I'll bet a few of those who 'troll you' incessantly actually have some respect for, and interest in, your insights and find you to be out in front in certain lines of thought...even if they disagree somewhat with your synthesis. Indeed, this thread, which shows little sign of abating or being terminated by TPTB, has proven a pretty decent vehicle for some open-source philosophical work. thanks for the words of encouragement. you are a good man. my family thinks i'm opinionated as well so i probably need to take part of the blame here. i'm guess i'm spoiled as i don't have a boss and no one's opinion matters except mine in my business. after all, ppl only come to the business for me and me alone as i'm pretty good at what i do. the trolls here are the most counter-opinion i take in my life if you can believe that. maybe that's why i can't ignore them?  what i do with the newsletter is purely a hobby which i enjoy. i only do it to get a small reward for all the time i spend analyzing markets. i think it's good advice but everyone is free to disagree. it probably is good advice, but its next to impossible to figure out exactly what you are advising on when you advise. I would have kept paying for it, but your messages were just too cryptic. |
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are you implying an uptrend?!  |
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prepare for panic stability
I think this just sneaked in to be the best comment of 2012. Great job! i concur lol also ill go on record as saying i believe weve seen the last of the daggers down. 14 by the end of the year |
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its still very much alpha, not even beta yet (though thats what they are calling it and i am in it). But from what I can see so far, if it does take off, this will be the catalyst which takes both ripple and bitcoin over the moon leaving fiat behind. They both complement each other using this system.
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Lucif, you might get your precious coins back, but it will likely take a few weeks/ months.
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Seems as if my prediction was right. Some dumps, some craziness over the weekend, but by Monday morning nothing to drastic has changed.
still 2 more days of weekend left  Heh, fair enough. Expecting a Christmas Day Massacre? Well, expecting something to happen, yeah. Based on the pattern, could be either way in the next 48 hours or so |
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Seems as if my prediction was right. Some dumps, some craziness over the weekend, but by Monday morning nothing to drastic has changed.
still 2 more days of weekend left |
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Just wait, it's still coming. 10 day looks lol.
Could just as easily go the other way from that picture though |
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could be a long few days until wednesday.
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But, how do you really feel Charlie?
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