Good morning Bitcoinland.

Still creeping up nicely after that lovely dip a couple of nights ago... currently $4222USD/$5205CAD (Bitcoinaverage).

AltcoinCash is also still hanging in there at $670USD/$842CAD (Coinmarketcap).

Let's see how things go when segwit is fully activated.

Fun.  

Maybe we Canadians are less panicky.  

Bingo. That's one of the things that keeps me reassured during the FUD storms and squabbles.

The really big players aren't "whale" traders. They're successful businessmen with vested interests and they know not to get panicked.

$4.1kUSD

Looks like we're getting back on track.

I hope everyone's enjoying the cheap coins they bought last night.

The masses aren't even aware of Bitcoin, let alone the scaling debate.

The vast majority of people either have never heard of Bitcoin or are barely aware of its existence. Most of those who know about it don't really understand it.

Ignorance breeds fear and apprehension. It certainly doesn't lead to people putting in their hard-earned money.  This is why public adoption is so low and why we're still basically in the early adopter phase.

As public awareness and education grows. so will adoption. The s-curve of adoption is still a long way from going vertical. When that happens, we'll see the 6-digit prices many speculate about.

 
I did ask the store owner about it and he said he just rents the floor space to the machine operator for a small fee.

I've never seen anyone else using it but my friend told me she saw a young woman using it one night. Several other people have told me they've used it or were planning to use it. In the past when ATMs were scarcer, I sometimes had to stand in line to use a machine. Now I can just run up the street any time and buy my coins quickly, cheaply and 100% anonymously.

When it was first installed, I didn't realize the fees were dynamic and I told the owner I didn't expect to use it often because the buy fees were too high and I almost never sell. I later mentioned how often I was using it and asked how well he was doing with it. That was when he told me he had no direct involvement.
____

I see we're back over $4kUSD per coin. That was an excellent little buying dip.

Onward and upward please.  

Good morning Bitcoinland.

I see we've recovered somewhat from last night's dip... currently $3948USD/$4957CAD (Bitcoinaverage).

Meanwhile AltcoinCash has also crept back up a little... $670USD/$844CAD (Coinmarketcap).

Let's see what the next 48 hours bring.


https://www.instacoinatm.com/index-en.html



They operate both buy-only and buy-and-sell machines. The one I use is buy-and-sell and is located in a 24/7 convenience store in downtown Toronto.

As I stated in the past, their dynamic pricing is suited to dip buyers. I've gotten low buy fees during dips before (<2%) but never actually got a negative fee before.

LOL Too late. It's already back up over zero.

Zany though. I'd never seen a negative fee before.

Just back home. Bought the dip again ($3610USD).

This time the atm fee was -3.4%. They actually paid me to buy their coins. Amazing.  

Still got some fiat free, enough for a couple more dips. Gotta free up some more cash tomorrow.

This is obviously a great buying opportunity.

Just got back from buying the dip ($3812USD) with a 1.7% ATM fee. Waiting for first confirmation.

Still have more fiat to spend if it goes lower.

This reminds me of the uncertainty dumps preceding most big turning points. We saw it before the ETF decision and again before the fork.

It's probably best to buy a bit at a time as the price decreases.

lol?

Lawl.

 

FTFY

BTC down <5%, BCH down >20%.

Good morning Bitcoinland.

Still going basically sideways I see, but down a little... currently $4015USD/$5052CAD (Bitcoinaverage).

AltcoinCash also down. I hope I didn't wait too long to convert them to real bitcoins. Oh well, at least I didn't sell when they were worth half what they are now.

Anticipation.

They have dynamic fee pricing. People buy, they raise buy fees and lower sell fees, and vice versa.

It's great for dip buyers. You get the lowest fees when the price is lowest.

Me too. Got home from the bar and saw the price.

Caught the bottom with 2.4% ATM buy fee. Lucky timing.

I don't think it's black or white. The price is determined by both the production cost and speculation.

For the first year Bitcoin was mined strictly as an academic exercise and speculation.

It wasn't until May 22, 2010 that it actually became worth something when a $20 pair of pizzas was sold for 10,000 bitcoins.

That was when Bitcoin was really launched with a value of $0.002 per coin.

There's no denying that price and difficulty are now closely correlated. The question is which is the chicken and which is the egg.

Good morning Bitcoinland.

Still going sideways... currently $4106USD/$5167CAD (Bitcoinaverage).

AltcoinCash is also going sideways... $723USD/$910CAD (Coinmarketcap).

Neither a rally nor a dip this weekend. I guess a lot of people are waiting to see what happens on Wednesday.

I'm guessing it won't be as dramatic as some people think.

I'll hold both and wait.

I'm basically a holder at heart and it's the first altcoin I've ever held a significant amount of.

I also think it will be pumped even higher in an attempt to sway miners over. The last couple of days have been telling.