my intuition says: we're sitting on a rocket about to be ignited

[Nesetalis]

Good call man.. XD

[Mushoz]

My intuition says this topic is relevant again

[GraphicImpulse]

Rocket Refuel - Check



All systems prepare for liftoff

[papaminer]

crap... i thought this is a new thread...

it was dated nov 5 2012


lol

[Mushoz]

Rocket Refuel - Check



All systems prepare for liftoff

Exactly. Insane amounts of fiat popping up on Gox's orderbook, far more than the amount of fiat when we were > 200 per coin, and still going up fast.

[fitty]

I hope we don't shoot up extremely fast. This will simply be asking for another harsh snapback correction. We need some god damn consolidation and more time for transaction growth and infrastructure improvement. At least that is what makes sense to me. But who knows..

Volitilty is great for making money. Buying at 94 95 and selling at 96 is getting boring. 

[Brushan]

I think we will soon be caught up in another rally like the last one. Bids are rising and asks are declining and media attention is massive with new stores accepting BTC everyday. I just hope it doesn't end like the last one.

[Anon136]

BTC will only take off once there is a killer use for it.

There already is.

theirs a bunch of them

Then my mom would be using them (the best measument device for these kinds of things) 

this. When your mom is using bitcoin you know its time to sell, until then hold on for dear life.

When moms are using Bitcoin, Bitcoin has succeeded and it's time to ditch fiat altogether...

well yea i mean sell for gold or silver or some new crypto, not fiat =P

at some point though bitcoin will become overvalued (that could be right now but i doubt it)

[Piper67]

Rocket Refuel - Check



All systems prepare for liftoff

Exactly. Insane amounts of fiat popping up on Gox's orderbook, far more than the amount of fiat when we were > 200 per coin, and still going up fast.

Fiat available is not the driving factor behind the price, though. BTC available is much more reliable as an inverse indicator.

Nevertheless, it's nice to see about 21 mil on the orderbook.

[Frozenlock]

They want cheap coins.

It's not really bullish, nor is it manipulative.

[Missionary]

Here comes the ignition!

http://www.foxbusiness.com/news/2013/04/18/bitcoin-buzz-draws-western-union-moneygram/

[molecular]

Here comes the ignition!

http://www.foxbusiness.com/news/2013/04/18/bitcoin-buzz-draws-western-union-moneygram/

Western Union Co. (WU) and MoneyGram International Inc. (MGI) are studying ways their customers could use their services to send and receive money transfers denominated in bitcoins, the companies' executives say.

Read more: http://www.foxbusiness.com/news/2013/04/18/bitcoin-buzz-draws-western-union-moneygram/#ixzz2Qr9MohMK

wtf. If anything makes sense for these guys is to become local BTC/Fiat exchangers.

bitcoin already transfers quite easily by itself.

[phoenix1]

Here comes the ignition!

http://www.foxbusiness.com/news/2013/04/18/bitcoin-buzz-draws-western-union-moneygram/

Western Union Co. (WU) and MoneyGram International Inc. (MGI) are studying ways their customers could use their services to send and receive money transfers denominated in bitcoins, the companies' executives say.

Read more: http://www.foxbusiness.com/news/2013/04/18/bitcoin-buzz-draws-western-union-moneygram/#ixzz2Qr9MohMK

wtf. If anything makes sense for these guys is to become local BTC/Fiat exchangers.

bitcoin already transfers quite easily by itself.

+1

[600watt]

Here comes the ignition!

http://www.foxbusiness.com/news/2013/04/18/bitcoin-buzz-draws-western-union-moneygram/

Western Union Co. (WU) and MoneyGram International Inc. (MGI) are studying ways their customers could use their services to send and receive money transfers denominated in bitcoins, the companies' executives say.

Read more: http://www.foxbusiness.com/news/2013/04/18/bitcoin-buzz-draws-western-union-moneygram/#ixzz2Qr9MohMK

wtf. If anything makes sense for these guys is to become local BTC/Fiat exchangers.

bitcoin already transfers quite easily by itself.

wait my friends.

present: i need to send money from my bank account around the globe and wait my ass off before the frickin fiat is finally on my goxaccount. half the exchanges don´t make it. the biggest one has "too much success"  -- in short: it´s only for enthusiasts, early adopters, fans, nerds, and other lucky bastards right now.

with western union: you can just walk over to the wu in your city and get your btc right "over the counter". instantly. the entire business day. if you don´t see how that would change things... everyone could get involved. get ready for the MASSES. good news.
+1

[XXthetimeisnowXX]

BOOOOOMMM goes the dinomite!!

[ManBearPig]

Not going to happen.

BTC will only take off once there is a killer use for it. Either mobile payments or electronic payment on the Internet. Before that, it will remain somewhat of a curiosity.

Admittedly I'm answering  a 5 month old question but:

My business is using it right now. Tens of thousands of others are too.

From an investment point of view if you wait until the killer app appears you've waited too long.

But good call

[molecular]

bitcoin already transfers quite easily by itself.

They can and should do the last mile. Like:

BTC-> WU website -----> WU Agent -> local currency
and
BTC ->WU Agent -----> WU Agent -> local currency
and
local currency->WU Agent -> BTC

They, however, probably simply want to buy bitpay, based on the article.

I agree.

If they did BTC/Fiat exchange in their numerous branches they could probably charge a pretty high fee and people would still use it. However, they'd cut into their current bussiness model. It'd be a far-sighted move and probably save them in the long run, but I doubt they're capable of doing it.

[ruski]

bitcoin already transfers quite easily by itself.

They can and should do the last mile. Like:

BTC-> WU website -----> WU Agent -> local currency
and
BTC ->WU Agent -----> WU Agent -> local currency
and
local currency->WU Agent -> BTC

They, however, probably simply want to buy bitpay, based on the article.

I agree.

If they did BTC/Fiat exchange in their numerous branches they could probably charge a pretty high fee and people would still use it. However, they'd cut into their current bussiness model. It'd be a far-sighted move and probably save them in the long run, but I doubt they're capable of doing it.

At any rate, they've seen the writing on the wall, and instead of moving to crush it they're moving to work with it. Their business model is one of the most fundamentally threatened of all finance related, and BTC still needs a reliable mass way to convert cash -> BTC and back. Western Union might be able to help and still draw some profit out of it. Win-Win!

[glub0x]

Regarding WU and their ilk... I find it hilarious that Bitcoin is forcing them into Prisoner's dilemma AKA "a bunch of blindfolded guys are being tortured in a helicopter" scenario.

Invest into popcorn. Let's see who will chose to stay in the helicopter.

P.S. We are about to embark onto watching a new spectator sport called competitive adoption of Bitcoin.

I don't think they feel threatened. If so they would have start a FUD campain or ignore btc as a first stance. Btc is still VERY anecdotic.
I think they have some clever guy up in the company ( the boss?) and also consider that they have already did some drastic changes. They use to be a telegraph company.
So i think they are just considering an opportunity.

Now if they accept bitcoin all the competitors will rush into it that is for sure because the others will be at risk of being left behind.

[Geist]

P.S. We are about to embark onto watching a new spectator sport called competitive adoption of Bitcoin.

It is exciting to watch, no?