What igorr, mah87 or fonzie does can be justifiably called trolling. Jorge is just being obstinate obnoxious.
FTFY |
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why is it rising in china with volume, while Stamp is dumping with just a few coins??
is huobi volume fake??
If you're looking at Huobi on bitcoinwisdom, it's been stuck like that for a full 8 hours now. Something's broken. |
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So let me see if I got this straight:
1) People think that if these coins sell for a discount to market price, then they'll immediately get dumped on the market.
2) But if these coins go for a premium over market price, then the buyer will hold them forever.
Completely binary outcome, eh?
(This short sighted thinking is why the majority of bitcoiners will never be wealthy)
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Here is one possible way this could work and be simple to implement. The customer would see a simple bitcoin transaction. In detail:
1) The Starbuck's Point of Sale terminal would have a bitcoin payment icon which when clicked starts the process.
2) The dollar value of the order is immediately passed to Coinbase (or similar) which take the dollar value of the order, converts to Bitcoin at the current rate and adds a small transaction cost (to cover Coinbase costs).
3) The Starbuck POS terminals then displays a QR code with the Coinbase generated address and the Bitcoin transaction value provided by Coinbase.
4) The customer then scans the QR code with their own phone and taps to pay the Bitcoin value to Coinbase.
5) The original order value is then immediately credited by Coinbase to Starbucks in the local currency. The sale is complete.
All Starbucks has to do is to use an interface provided by Coinbase. The Starbucks internal systems only see the original local dollar value.
Coinbase (or similar) does the Bitcoin part of the transaction and bears any risk. Obviously no-one is going to wait around in a coffee shop for the normal Bitcoin confirmation.
The customer sees a pure Bitcoin transaction which happens immediately. The customer has no idea a third party is involved.
This is the system that Coinkite employs; a POS handheld system that settles immediately on their internal system afaik. Don't Coinbase and BitPay merchant services already do this? IIRC, they are already doing off-exchange transactions (that post immediately) if the client wallet and merchant service are the same. |
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Yeah, I hate these douche bags that just backpedal instead of just admitting they were wrong. And boy, how wrong they are going to be.
I'm sure Paul Krugman, Peter Schiff, and Warren Buffett will just stubbornly hold out to the bitter end, never admitting that bitcoin has merit. Paul especially, since he has written so much as a naysayer.
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Well if Wall Street is "moving in" or has been moving in, I'd make them pay "at the counter" like Joe Public has to. But of course, that's not gonna happen. They'll try to buy them in bulk off-exchange or at an auction, or for cheap from some stupid Chinese miner who can't pay his power bill.
I'd make them have to pay a premium for market entry. A serious premium. Hopefully most of the early adopters sitting on thousands of coins have some values and refuse selling out to a bunch of Wall Street or Banking cronies.
Bitcoin - for the people, by the people, yes?
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My gf sees the potential and understands most of the technology, but she feels it's overpriced, even after my countless explanations on how the decimal works...
So what will she say when the price/btc hits $10K, $50K or even $500K? That it's definitely too overpriced to buy one at that point? This is fundamentally what most people who have not researched bitcoin don't fully understand, that current price/btc (think of it as purchasing power or value per btc) is completely meaningless in the short term. In order for bitcoin to work as a worldwide currency, purchasing power/btc has to grow way beyond what someone with average means could purchase (unless they had a lot of fiat to convert). They'll just acquire whatever amount of bitcoin they can at whatever the equivalent going rate for bitcoin is. It's the same reason that Gold spot price is listed as price/troy ounce, because price/pound or price/ton doesn't work for the average Joe any more. I really can't wait until the price/coin grows beyond what most people can afford, so that they can see that having a "single" bitcoin becomes completely meaningless in the grand scheme. It'll all just be bits or whatever the current denomination du jour is. |
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I think this is a sign that bitcoin is slowly starting to win over Joe Public, at least exposure-wise. Hopefully all of college and professional sports will start to adopt/accept bitcoin. Now we just gotta get bitcoin into other places where it matters to Joe Public. Like McDonalds, Walmart, Costco, Home Depot, and AutoZone.  |
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JP Morgan Chase. They'll hold out until hell freezes over.
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Do yourself a favor OP, instead of sweating over buying a single coin, buy 10 instead. Give her one, and keep the other 9 for yourself (and keep it secret). And then hold. For at least a year. When bitcoin goes to the moon a year later, dump the girlfriend and spend it on hookers and blow. Bitcoin > girlfriends |
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Just speaking as a consumer, if I can buy bitcoin without fees and spend it at merchants that provide a better discount than my credit cards' 1% reward points
This and this. If these two things happen, then the late adopter mass consumers will eventually get won over. If not, then it's doubtful, sadly. Today bitcoin still remains a very inconvenient and costly way to pay for shit. |
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Which would place touching the previous ATH into late Q3/early Q4 2014, and actually making a new one into 2015.
I'm okay with that, matches my own (fuzzy, LT) ideas pretty well, but this is probably a hard sell to the salivating bulls that want to break $1000 in 2 weeks from now.
As much as I'd like to see a rally in 2014, I'm secretly hoping for one in early 2015 instead. Reason being, a) I plan to sell some and for tax purposes would like that to happen after Jan 1st 2015 so I don't have to report any gains until 2016, and b) because I think the rally will go much higher the longer it holds off. |
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Please add "Whenever the whales decide we should rally" otherwise itīs a strong biased poll, which cannot reflect the the true sentiment. Thanks.
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Were balancing around 600 for days now. I feel safe to post this.
<snip>
Nice one  Made me grin like an idiot. I think the tag line should be: "Consistency. Stability. Impervious to FUD." |
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So I just came across an old spreadsheet I used to track my orders on bitcoinica and calculate my zhoutong price... These are the orders I had in on bitcoinica when it went bust with about $700 in it.... <snip> Granted they wouldn't all have filled in the end, but they were nervous times. I spent hours arguing with myself about whether I should buy more coins for more than $3 and how much I should hold back to buy on dips. I was making a real play for the vladimir club hehe Didn't turn out quite as I expected That is amazing. So I'm guessing you had (or still have) hundreds of coins from back in the day? |
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I think online gaming sites like Steam, GOG, and GameTap integrating bitcoin payment seems like a no-brainer and a win-win. I predict it's just a matter of time before they will.
But a massive upward effect on the price? I doubt it, as we've seen good news announcements don't really seem to move the market that much.
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$600!!   Again 600, let see how long it will go. Wake me up when we get back to $683. |
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Oh good, another thread predicting 5000+ prices "This Summer " based on nothing except "But Bitcoin!". Can we see one of these threads with some actual facts and reasoning to justify these prices other than "Lol srsly totally undervalued cause Bitcoin will save teh world"?
Dude, seriously? Why should the price be at ~$150/btc in Oct 2013, then $1000/btc merely 2 months later? Why should the price be ~$600/btc now instead of still at ~$4/btc as it was 2 years ago? "But Bitcoin!" Yes, that. Bitcoin hasn't fundamentally changed in years, it is still the same. So there are no facts that the "Bitcoin" from 4 years ago is really any different that the "Bitcoin" of today. Please. Remove. Head. From. Ass. And. Research. Deeper. "Tis better to be silent and be thought a fool, than to speak and remove all doubt."-Abraham Lincoln |
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