bitpay does not dump on exchanges

[cafucafucafu]

i wonder if coinbase does

https://www.youtube.com/watch?v=z8sNiawoG8o&feature=youtu.be

[Lauda]

This is actually quite interesting and surprising. As far as I recall I haven't seen anyone ever saying that they don't. It was a general idea that they were instantly converting and that it was pushing the price down.
They should have spoken out sooner. I'm going to assume that they don't really have people working there that are following this community (at least not closely).

This is actually why some people have been avoiding merchants that have been cooperating with Bitpay. There was also a list of merchants that do not exchange Bitcoin to fiat (I believe that it was in this very section).

[unamis76]

I'm interested in the impact that a major "dump" by bitpay would have in the market. Are there any recent or real time values of bitpay's volume?

I remember reading a while back that they had quite a bit of volume... Enough to push the market down quite a lot.

[NorrisK]

So if I understand this correctly, the investors that invested in bitpay will get the bitcoin that they have in the end? And therefore they are not allowed to sell bitcoin? Is this the easiest way for the investment companies to get bitcoin without the need of shady exchanges?

[Gleb Gamow]

i wonder if coinbase does

https://www.youtube.com/watch?v=z8sNiawoG8o&feature=youtu.be

I'm not sure, but something tells me that Jason said a tad too much about BitPay's business model.

Sonny Vleisides of BFL passed over ten million dollars through BitPay treating it as an exchange oppose to just a third-party payment processor.

[fatguyyyyy]

if bitpay does not dump its coins on exchanges what, exactly, does it do with them? horde?

[sherbyspark]

Thats something new to hear. I believe bitpay is the biggest payment processor for people who wish to buy something using their bitcoins. Doing this would actually be good for the price if they happen to hold it for a decade as said in the video.
Bitpay should have made this public a long time back. Coins being dumped is one fear I always had and never used it for large sized transactions.

[krach]

The "investors" that they sell to, they can dump on exchanges, hedge ect. If they sold the coins they would need to
get a trading desk , a whole dept for selling the coins and not just "dump". imo

[jbrnt]

This is my take on the video:

Bitpay do not dump their coins on exchanges. They do dump them, just not on exchanges. They sell the coins to "investors" and pay fiat to their clients. Some of the investors may not be selling the coins, but some can. the "investors" buy coins from bitpay, so they buy less from exchanges. Same effect on the exchnage price, different mechanism.

[Unbelive]

if bitpay does not dump its coins on exchanges what, exactly, does it do with them? horde?

lol it seems they do. They want to get all. Anyone knows how much bitcoins they hoarded so far? It has to be a lot.

[franky1]

This is actually quite interesting and surprising. As far as I recall I haven't seen anyone ever saying that they don't. It was a general idea that they were instantly converting and that it was pushing the price down.
They should have spoken out sooner. I'm going to assume that they don't really have people working there that are following this community (at least not closely).

This is actually why some people have been avoiding merchants that have been cooperating with Bitpay. There was also a list of merchants that do not exchange Bitcoin to fiat (I believe that it was in this very section).

i've been saying it for years.. its not been a secret at all

[franky1]

if bitpay does not dump its coins on exchanges what, exactly, does it do with them? horde?

lol it seems they do. They want to get all. Anyone knows how much bitcoins they hoarded so far? It has to be a lot.

no, no, no

they pay wages to their staff in bitcoin and they also have private OTC trades they do with investers and venture capitalists..

there was big news ages back that bitpay got 32million.. in exchange the investor gets bitcoins..

there are many many ways to swap bitcoin for fiat without using the exchanges. and its more suprising that the community are so transfixed on exchanges that they completely ignore the other ways..

[Gleb Gamow]

if bitpay does not dump its coins on exchanges what, exactly, does it do with them? horde?

lol it seems they do. They want to get all. Anyone knows how much bitcoins they hoarded so far? It has to be a lot.

no, no, no

they pay wages to their staff in bitcoin and they also have private OTC trades they do with investers and venture capitalists..

there was big news ages back that bitpay got 32million.. in exchange the investor gets bitcoins..

there are many many ways to swap bitcoin for fiat without using the exchanges. and its more suprising that the community are so transfixed on exchanges that they completely ignore the other ways..

Here's a 1,000 BTC sent to Bitstamp: https://www.walletexplorer.com/wallet/BitPay.com-old?page=194

[amiryaqot]

This is actually quite interesting and surprising. As far as I recall I haven't seen anyone ever saying that they don't. It was a general idea that they were instantly converting and that it was pushing the price down.
They should have spoken out sooner. I'm going to assume that they don't really have people working there that are following this community (at least not closely).

This is actually why some people have been avoiding merchants that have been cooperating with Bitpay. There was also a list of merchants that do not exchange Bitcoin to fiat (I believe that it was in this very section).

i think so that is surprising fact the insight story of bitpay come out in interesting way but that is just one side story any official spokesman of bitpay can clear the whole situation after this video but i am still in doubt they can dump their coins on exchanges for fiat to recover their expenses to pay salary and for other stuff.    

[sherbyspark]

no, no, no

they pay wages to their staff in bitcoin and they also have private OTC trades they do with investers and venture capitalists..

there was big news ages back that bitpay got 32million.. in exchange the investor gets bitcoins..

there are many many ways to swap bitcoin for fiat without using the exchanges. and its more suprising that the community are so transfixed on exchanges that they completely ignore the other ways..

There are definitely more ways to convert your bitcoins into fiat, but its extremely hard to sell a large amount off the exchanges. Considering they get a large amount every now and then , they might be selling it to the private investors who can buy a large amount without getting the price up.  But that again is any day better than them selling it on the exchanges.

[manselr]

The "investors" that they sell to, they can dump on exchanges, hedge ect. If they sold the coins they would need to
get a trading desk , a whole dept for selling the coins and not just "dump". imo

Yeah, at the end of the day people are going to end up doing whatever they want with their money. If they want to dump, they will dump. They don't dump, someone else will.
We shouldn't be worried about people dumping their coins, but about demand lowering. As long as there is demand, who cares if people dump.

[Don007]

The "investors" that they sell to, they can dump on exchanges, hedge ect. If they sold the coins they would need to
get a trading desk , a whole dept for selling the coins and not just "dump". imo

Yeah, at the end of the day people are going to end up doing whatever they want with their money. If they want to dump, they will dump. They don't dump, someone else will.
We shouldn't be worried about people dumping their coins, but about demand lowering. As long as there is demand, who cares if people dump.

It's all about the relation between the supply and the demand. But I agree with you, we should worry about decreasing demand. Now more and more people know about Bitcoin, we should experience an increase in demand (which increases the current value too). There will always be people selling or dumping their coins; there's no way to stop that. Increasing the demand for Bitcoin is the way to go.

[franky1]

The "investors" that they sell to, they can dump on exchanges, hedge ect. If they sold the coins they would need to
get a trading desk , a whole dept for selling the coins and not just "dump". imo

Yeah, at the end of the day people are going to end up doing whatever they want with their money. If they want to dump, they will dump. They don't dump, someone else will.
We shouldn't be worried about people dumping their coins, but about demand lowering. As long as there is demand, who cares if people dump.

It's all about the relation between the supply and the demand. But I agree with you, we should worry about decreasing demand. Now more and more people know about Bitcoin, we should experience an increase in demand (which increases the current value too). There will always be people selling or dumping their coins; there's no way to stop that. Increasing the demand for Bitcoin is the way to go.

nah.. the way to go is for people to stop blindly folowing the crappy exchanges that use php and mysql databases.. especially those coded by people under 25yo with no financial work experience prior to bitcoin.

many of the current "exchanges" seem flawed.. the amount of resistance (huge lumps(walls) of bitcoin) seems low. where just 20-200 bitcoin can make the price change dramatically.

when there are investors wanting to bite into $30mill worth of bitcoins. the last place they should visit is an exchange. and thus it should be the last place people use to value their coin.

exchanges these days are just for bots to mess around day trading. definitely not a place for serious investors who want to invest longterm

[gentlemand]

I'm interested in the impact that a major "dump" by bitpay would have in the market. Are there any recent or real time values of bitpay's volume?

I remember reading a while back that they had quite a bit of volume... Enough to push the market down quite a lot.

They've mentioned figures of $1 million a day in the past but in general they seem to be relatively coy. It must be a fair bit lower now.

[Don007]

The "investors" that they sell to, they can dump on exchanges, hedge ect. If they sold the coins they would need to
get a trading desk , a whole dept for selling the coins and not just "dump". imo

Yeah, at the end of the day people are going to end up doing whatever they want with their money. If they want to dump, they will dump. They don't dump, someone else will.
We shouldn't be worried about people dumping their coins, but about demand lowering. As long as there is demand, who cares if people dump.

It's all about the relation between the supply and the demand. But I agree with you, we should worry about decreasing demand. Now more and more people know about Bitcoin, we should experience an increase in demand (which increases the current value too). There will always be people selling or dumping their coins; there's no way to stop that. Increasing the demand for Bitcoin is the way to go.

nah.. the way to go is for people to stop blindly folowing the crappy exchanges that use php and mysql databases.. especially those coded by people under 25yo with no financial work experience prior to bitcoin.

many of the current "exchanges" seem flawed.. the amount of resistance (huge lumps(walls) of bitcoin) seems low. where just 20-200 bitcoin can make the price change dramatically.

when there are investors wanting to bite into $30mill worth of bitcoins. the last place they should visit is an exchange. and thus it should be the last place people use to value their coin.

exchanges these days are just for bots to mess around day trading. definitely not a place for serious investors who want to invest longterm

I share your opinion, however, I don't think investors should use exchanges for their investment plans. If you want to invest in Bitcoin (or other altcoins), that's great. But then use exchanges (or other parties) to BUY bitcoin, and not to store them. Cold wallets are the way to go with regard to storing them.

But I agree, if you have a lot of money to invest, the history told us it is not really safe to deposit them into an exchange in order to buy Bitcoins over time - for a acceptable price.