Facebook will push their facebook credits system - not bitcoin. They have already applied for licenses to be a Money Service Provider (MSB) in multiple US states, and are looking for an e-license in Europe. They are gunning for Western Union first - then will go after the banks - this is a centralised competitor for bitcoin not an adopter. http://www.bloombergview.com/articles/2014-04-14/who-would-use-facebook-as-a-bank |
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So... The bottom is finally in?
hope so - but don't jinx it |
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So if you sell now with 50% means you still own 50% of your invest. If the price turns in 4-5 month from 100 or 200 back to higher ranges, buy back in and at the end you got more btc then now for same money.
Can you guarantee that it will ever be that range, i.e. do you sell futures to that effect? If not, shut it. How should I guarantee that ? But its pure market logic. And if you watch the btc charts with the last years its always ups and downs. But waiting till your invest is 90% or more loss is plain stupid. A good commander would never leave his troops in the fight until last man standing. He would get as many back to new formations as soon they keep losing man. A good commander always keeps troops in reserve so that he can add in more force if necessary. The key is timing when to add the reserves for best effect. |
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It's almost like Freddie Mercury predicted the BTC market in the 70's.
Bohemian Rhapsody
Is this the real life?
Is this just fantasy?
Caught in a landslide,
No escape from reality.
Open your eyes,
Look up to the skies and see,
I'm just a poor boy, I need no sympathy,
Because I'm easy come, easy go,
Little high, little low,
Anyway the wind blows doesn't really matter to me, to me.
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i have talked to friend about bitcoin. he is investment banker. he said, that bitcoin is not really interesting for him and banks wont join yet. the volume is simply too low for the big money.
imagine that 100million usd is peanuts for wallstreet. if they would pump money into bitcoin, the price would explode short term but they would have trouble to sell at a profit because the volumes are too low.
so i agree with my friend, i think its too early for wall street.
what do you think about this?
Wall Street is a very diverse environment with lots of different types of investors with different risk appetite and different return requirements. For the vast majority of wall street Bitcoin is not a proposition in the short term, for a small minority it is very much on their radar screen - that is why bitpay, circle, coinbase etc are able to source venture capital. Most of Wall Street is far more likely in the short term to invest in things it understands, things with dividends and cashflows, ie corporates than it is in buying a bitcoin or lots of them - but others will see that bitcoin offers other things. Bitcoin is an option like play in the financial world, and it is not particularly correlated with stocks and bonds - thus it offers diversification - wall street likes diversification. The IRS tax ruling is a positive - it delivers some certainty- Wall Street likes certainty and hates uncertainty Bitcoin maturing and engaging with regulators is a positive - Wall Street does not want to get arrested for investing in bitcoin or bitcoin startups, they also want to IPO those startups they won't be able to do that without a regulatory environment. Barry Silberts industrial level exchange will be a positive - Wall Street is not going to buy coins on BitStamp unless Bitstamp relocate to London or NY. Things are going in the right direction for Wall Street to have more involvement in bitcoin or crypto currency, but you will have to be more patient that this forum is generally wont to be. |
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What he actually said was that he had had serious enquiry from 10 plus firms looking at putting money into bitcoin - and these are firms who do not look at things unless they can invest $50mm, so call it $500,000,000 of interest, so at $450 a coin, approx 1 million coins , or 8% of current outstanding, approximately twice the traded float.
In terms of new coin supply assuming price stability, that's 20 difficulty periods worth of coin , or approximately all the coins that will be mined this year from now.
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One of the hedge fund managers on one of the panels at the inside bitcoin conference in New York described Bitcoin at the moment as akin to an option with no expiry date. (standard financial option contracts have an expiry/maturity date)
that is you pay an upfront premium with a known downside (circa $450 at the moment) for a potential 10+ times payout.
You can decide if its a cheap enough option, but its definitely one worth holding in my opinion.
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Bitcoin will never rise again.
It just rose from $416 to $458, your statement is invalid  a 10% bounce after a 70% drop is not a change in trend. Keep in mind that if a market falls 50% and then bounces back up 50%, you're still 25% lower than where you started. C'mon, you pussies, I lowered my buy order to $559 and still no takers. Where's all the "the worst is behind us" sentiment now? You won't actually spot the change in trend until after it has happened - until then you will think it is a bulltrap. |
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We also have to remember that since quite recently, lots of investment money is going to angel investment rather than bitcoin itself directly. Big investors see the possibility of getting higher returns than bitcoin in launching a successful bitcoin service.
The future is software, not some rent-seeking paid service. People will increasingly do business directly, with the help of software they control. Middlemen are increasingly being cut out. And yet these investors continue to invest in middlemen. The investors continue to invest in the middlemen because at the moment they see the ability expressed by Anonymint above to build the centralized offchain "banks" or clearing houses that will enable the transaction levels and the instantaneous "risk free" transactions necessary for widespread adoption. Coinbase/bitpay/circle will become offchain repositories which offer instantaneous btc transfer between their members and their members fiat accounts. They will make bitcoin easy to buy and easy to use, ideally managing to reduce the cost of acquiring bitcoin to below the benefits gained by transacting online with bitcoin, and thus being able to offer an incentive to their users (both consumers and merchants) to transact online in bitcoin rather than fiat, ie: enabling merchants to offer goods online for bitcoin at a discount to fiat currency prices (including the cost of bitcoin acquisition). This is a necessary requirement to push mass adoption of bitcoin, the price for it will be off chain transactions, centralisation, the potential for government control and hence the ability to recreate the fiat system using bitcoin. The software solution is to address these issues within bitcoin's code or through the creation of an alt-coin which addresses these issues. The financing for this will not come from venture capital, as there is no return in it -much easier to free-ride. |
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The only thing that is going to increase the price, is people buying bitcoin. But they aren't doing that. That's why you see no jump in price with the Stripe news, and continued price falling even with the TON of merchant integration since the $1200 mark. People can't spend what they don't have and people are afraid of bitcoin. Now the IRS has basically destroyed any near-term chance at bitcoin being used as a currency. So what would make it go up to $10,000? A miracle. What would make it drop to sub-100? Everything you see happening now.
[/quote]
Would you please get off this IRS impacts bitcoin rubbish - those of us who are not American and don't live in the US don't give a flying feck what the IRS say.
Also just to get some facts down - the IRS 1099 form only applies to corporates not to individuals , so individuals do not have to account for each individual bitcoin transaction. If they make gains on their bitcoin they should be paying either income tax or capital gains tax anyway - that doesn't change.
As for corporates who "receive" bitcoin via bitpay or another payment processor, their gains are zero as they never actually receive the bitcoin , bitpay just give them cash - now bitpay might have to do some extra work - but that's why they are in business anyway.
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Given the anti-corruption drive that the new Chinese leadership embarked on last year is it not likely that certain more tech savvy, slightly misinformed, but entirely corrupt individuals within the People's Republic thought that they could use bitcoin as a way to move their wealth to places that the Chinese authorities would be unable to trace them? (think bitcoin is anonymous - misinformed)
This might explain the desperate acquisition of coins on Chinese Exchanges in the last month or two of 2013 as well as the fact that the recycling of these coins onto western exchanges has depressed the price since. (by this I mean down to the 800/600 area.)
By this stage I would expect that these individuals are already out of bitcoin and in USD or EUR in bank accounts all over the world.
When the Chinese leadership officials caught on to the wheeze, it would be an obvious and simple step for them to stamp on it, hard, this has forced others in China who were involved for less nefarious reasons to exit the market or scale back their investments - driving us to this $400 area.
It may also explain why exchanges are being targeted piecemeal - those more guilty (in the eyes of the leadership), or least protected politically - are punished/closed/impacted first with others later or to a lesser extent.
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IRS cant hold us! I do not live in USA but i wish this IRS thing will never happen - keeping record for one year of each smallest transaction is SICK! They will understand it after short while! Bitcoin for USA! And about the price --- stabilizing they understood that, this is on purpose to harm bitcoin and they'll harm and kill bitcoin, Ripple will take its place within few months. This is life. individuals do not have to fill out form 1099. so for the vast majority this is inconsequential. They should be paying taxes on gains on bitcoins anyway. |
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when reading or interpreting anything from the PBOC always remember Alan Greenspan most accurate words
"Since becoming a central banker, I have learned to mumble with great incoherence. If I seem unduly clear to you, you must have misunderstood what I said"
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Why is everyone still treating the China news as unconfirmed? I assumed the second drop was due to its confirmation.
In a shorter timeframe, is obvious inverse head and shoulders obvious to anyone else? The problem are those walls to $530.
because it is not actually confirmed yet - there is no official comment from the PBOC and the only source remains Caixen (sp?) That said given the problems in the Chinese Banking and Shadow Banking systems it is hardly surprising that an almost closed system would be looking very hard at mechanisms that are outside of their control and which enable capital flight. |
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If China did ban bank accounts of exchanges, this would be the best thing ever.
1. BTC China and Huobi will be forced to develop exchange market based on individual bank accounts transacting with one another directly.
2. The publicity from the ban will raise people's awareness of bitcoin in china. People will try to understand what is going on and why the PBOC feels so threatened.
3. After the initial drop in price, people will realise that life goes on. The PBOC cannot succesfully ban everyone's bank account.
That would never happen, have you ever used banks b4? sound like some teenage's dream It's called direct funds transfer. Another method would be to trade bitcoin without ever actually buying it. It would be reasonable complex to do, requiring an account margining system, but there is no reason whereby you could not trade a bitcoin derivative on an exchange. If the cash never actually buys a bitcoin the PBOC cannot complain. |
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Soon price of btc will reach $10k
Igorr, can you confirm? For a given defintion of "Soon" |
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We are CURRENTLY OVERPRICED.
It wouldnt surprise me if we overtime went to BTC = 100dollars or less. I think the current price is way high.
the rumor i heard is china central bank is squeaking about banning BTC again..I"m half a mind to say 'do it already' I have 10.2k in a neptune 4Th likely unit from KNC if i can buy BTC for 6K the amount it would mine...i"ll punt that direction (half the reason i'm keeping it now is just i like to mine) so anyway that is the thread of talk right now..... conflicted Searing The rumour was that the PBOC had ordered a halt to bitcoin trading by April 15th The PBOC have now denied this rumour on their official microblog. Price drop on FUD again. |
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I was wondering that there is no thread about this topic here. Have read it in the german news 3 hrs ago. On golem.de or heise.de you can almost read weekly something new about Bitcoins. I count this as a good sign that Bitcoin will go mainstream soon.
you are right. mainstream media is writing about bitcoin everyday in germany. just google bitcoin in the news section. back to topic: it is a b s o l u t e l y impossible to understand how 200 000 coins can get "lost" unnoticed. maybe the authorities found some of the coins mk tried to steal and the "uups they were lost" story is a cover-up  articles in The Economist on bitcoin as well this week. |
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