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1504
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Economy / Speculation / Re: BitPay is FREE for MERCHANTS - How they finance they business?
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on: August 03, 2014, 09:59:08 AM
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agreed, same thought
VC / funds / etf / whales are involved
So this means selling bitcoins for buying things means transferring bitcoins to institutional players. Only idea which I can get in such case is: HODL & STOP spending bitcoins. Bitcoins are starting to be store of value instead transactional mechanism. |
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1505
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Economy / Speculation / BitPay is FREE for MERCHANTS - How they finance they business?
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on: August 03, 2014, 09:45:06 AM
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A couple days ago a read an announcement that merchants can now start using BitPay service FOR FREE.
Because we all know that "There is not such thing as a free lunch ..." I started asking myself a question how they finance their business.
Only possibility which I found is that they are selling bitcoins to funds & other big players which have interest to get a lot of bitcoins with price low as much as it possible. So they are willing to pay let say additional x% markup instead buyng on exchanges.
What are your thoughts?
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1506
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Economy / Speculation / Re: This Bitfinex Credit Bubble cannot end well
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on: July 17, 2014, 10:13:10 AM
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I have a solution for Bitfinex issue:
- on 21th Bitfinex or some of their friends sells 5000 BTC at market price, bitcoin price drops to 500 USD
- new rules starts immediatelly afterwards
- price continues to drop, margin calls accelerates price drop
- at 1 USD a big chunk of money is waiting to buy everything (part of money from 5000 previously sold bitcoins)
- remaining money is used to push bitcoin price higher above 700 USD - and new baloooon is triggered
All those 5 steps are done within a minute. Only bitcoins changed their owners...
Don't give them ideas... They can actually sell coins from hot wallet which don't belong to them, actually they belong to their customers. It is a scenario which has 100% probability to be successful. Market is not regulated... |
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1507
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Economy / Speculation / Re: This Bitfinex Credit Bubble cannot end well
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on: July 17, 2014, 05:33:03 AM
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I have a solution for Bitfinex issue:
- on 21th Bitfinex or some of their friends sells 5000 BTC at market price, bitcoin price drops to 500 USD
- new rules starts immediatelly afterwards
- price continues to drop, margin calls accelerates price drop
- at 1 USD a big chunk of money is waiting to buy everything (part of money from 5000 previously sold bitcoins)
- remaining money is used to push bitcoin price higher above 700 USD - and new baloooon is triggered
All those 5 steps are done within a minute. Only bitcoins changed their owners...
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1509
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Economy / Speculation / Re: This Bitfinex Credit Bubble cannot end well
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on: July 14, 2014, 09:51:20 PM
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selling again... 150 BTC and price dropped 3 USD. Only God can help those people who will have highly leveraged positions on 21th, when thousands of BTC will be sold.
I am a bull, but now i will close my position with lose and wait for flash crash below 500 USD..
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