Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[JorgeStolfi]

If "you pay USD go USD to BTC to buy", as the poster suggested, how do you send USD to Coinbase/exchange/Bitpay/whatever?

Jorge I believe one bank gets another bank to change some numbers on a computer and then another entity verifies that both party's agree then they charge a fee for doing this. All party's involved have to comply with government regulations to ensure no one is cheating. Once you understand how the system works with $, you're going to love how simply it works with Bitcoin.

Congratulations, you are already stepping onto the answer to my question, you just have to look at it.  Right between "agree then" and "All party's". 

[1715188047]

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[1715188047]

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[Richy_T]

merchants would not convert btc>fiat using public exchanges anyway.

Is that correct?  AFAIK, only some merchants (like Overstock) opt to receive bitcoins directly.  Usually, when you buy "with bitcoin" through services like BitPay, they give dollars to the merchant and sell your coins at some exchange.  Didn't BitPay say that they used Bitstamp, specifically, some time ago?  Isn't Dell using such a service?

I think it would be foolish to assume that.  Dell is a private company.  He can take what he likes.  If he is bullish on bitcoin - and Michael Dell is sufficiently tech-savvy to be quite bullish on bitcoin - then it is a clever way to gain bitcoin without driving up the price on an exchange.

If you're crazy rich, Bitcoin is actually pretty low risk, incredibly high reward.

At least until you get into Winklevos territory

[Richy_T]

It's a closing pennant pattern. July 24 to August 1, I say. But I may BULL-shit you, as I usually do...

There is to much bull on this forum. It has become unbearable. 

Im really sorry for that joke. Please understand that I am just trying to keep Chartbuddys post count percentage down.

One day soon, I'll write something that will go back and delete all Chartbuddy's previous posts. Then we'll see some tears on this thread.

For anyone at the Chicago conference, yes, I am the Rich was shaking hands tonight. Be kind to me, I'm not a networking kind of guy.

[Richy_T]

I don't really find anything wrong with random picking of dates in order to suggest that btc prices are going to skyrocket.  Yet, I am more bothered when posters are elated in the event that their date is correct.  If they are correct, it becomes a big "so what?" b/c the poster happened to guess correctly.  

I anticipate that the rocket date could be anywhere between 1 hour from now to 12 months, and I rest much more assured being in BTC, to be prepared when that seemingly inevitable rocket date comes.

July 24th. ChartBuddy says so and have you ever known ChartBuddy to be wrong?

Seriously though, I was totally blindsided by November. I got home from my commute and insanity was in progress. I threw bitcoinity up on the TV and sat there with my mouth open. I don't rule anything out any more and think almost all analysis is questionable at best.

Still, 24th it is.

[ChartBuddy]

Explanation

[CoinsCoinsEverywhere]

The high and low price is becoming a tighter and tighter range...is this the calm before the storm?  Given our history, we can only be stable for so long before there's some more action...

Yep, bollinger bands have been pretty squeezy recently, should see a strong move soon. I just hope it's to the upside.... been holding and waiting for a breakout a few weeks now.

Yeah, I believe the last time we were stable for a good amount of time we ended up flash crashing...so hopefully this is the opposite this time around

Which time was that? Price volatility has really died generally the past couple months. Price action right now reminds me of the $440-450 level, tbh, but I don't want to get my hopes up, either.

I agree.  It does have a similar feel to $450.  And I like the way volume has been dropping on the successive dips that have occurred in July.  That would seem to suggest less selling conviction.  News seems to be pretty positive lately, too.

[ChartBuddy]

Explanation

[Argwai96]

Short term, not sure what to think. I thought we were seeing a rising wedge, but the bottom seems to have fallen out (and not much momentum followed). Could still see a third drive up.

[freedomno1]

I'm curious if coins are moving back into Bitcoin before the next rise
Kind of seems quieter on mintpal trading volume on the altcoins

[ShroomsKit]

Short term, not sure what to think. I thought we were seeing a rising wedge, but the bottom seems to have fallen out (and not much momentum followed). Could still see a third drive up.

All i see is the price going down again and no sign whatsoever that we're about to go up.

[ChartBuddy]

Explanation

[ubercool]

Last two week, market really consolidating and we will move soon 1 side movement.
Hopefully it will on upside, normally it happen when market consolidate like that.

[JayJuanGee]

if you have a fully verified coin base account that is. SO GET SPENDING. Even if you pay USD go USD to BTC to buy... it's actually cheaper that way.

How do you send USD to Coinbase/exchange/Bitpay/whatever, and what do they send to Dell -- USD, or BTC?  If USD, how do they send it?

This appears to be one of those basic retarded questions of yours that could easily be answered by yourself, if you were to buy and use bitcoins then you would possibly realize how to use them.  Of course, the customers pay in bitcoin, and then if Dell wants to convert them to fiat after the transaction, they have that fiat conversion option.

And that is the (non)answer that I get whenever I ask that question in this forum. I had to ask the same person three times (on another thread), before he understood the question (and answered it for only one special case).

I thought that I called the question stupid and I answered it...... and you are implying that you are seeking some kind of deeper and more significant meaning?  And what would that deeper and more significant meaning be?

Yes you called the question stupid, and no you did not understand it. If "you pay USD go USD to BTC to buy", as the poster suggested, how do you send USD to Coinbase/exchange/Bitpay/whatever?

I go to Dell's website, and I choose to pay with bitcoins from my blockchain wallet, no?  People acquire bitcoins in a variety of ways and then hold them and store them in various ways, and when it comes time to purchase something they send the bitcoins to the purchase address.  Then on Dell's end, they choose whether to hold the purchase in bitcoins or to immediately cash them out as fiat (Dell is using coinbase)..

[ubercool]

if you have a fully verified coin base account that is. SO GET SPENDING. Even if you pay USD go USD to BTC to buy... it's actually cheaper that way.

How do you send USD to Coinbase/exchange/Bitpay/whatever, and what do they send to Dell -- USD, or BTC?  If USD, how do they send it?

This appears to be one of those basic retarded questions of yours that could easily be answered by yourself, if you were to buy and use bitcoins then you would possibly realize how to use them.  Of course, the customers pay in bitcoin, and then if Dell wants to convert them to fiat after the transaction, they have that fiat conversion option.

And that is the (non)answer that I get whenever I ask that question in this forum. I had to ask the same person three times (on another thread), before he understood the question (and answered it for only one special case).

I thought that I called the question stupid and I answered it...... and you are implying that you are seeking some kind of deeper and more significant meaning?  And what would that deeper and more significant meaning be?

Yes you called the question stupid, and no you did not understand it. If "you pay USD go USD to BTC to buy", as the poster suggested, how do you send USD to Coinbase/exchange/Bitpay/whatever?

I go to Dell's website, and I choose to pay with bitcoins from my blockchain wallet, no?  People acquire bitcoins in a variety of ways and then hold them and store them in various ways, and when it comes time to purchase something they send the bitcoins to the purchase address.  Then on Dell's end, they choose whether to hold the purchase in bitcoins or to immediately cash them out as fiat (Dell is using coinbase)..

Mostly Big merchants use Coinbase because they just sell what they get sell through Bitcoins,
 and it doesn't affect them Bitcoin Volatilities.

[JayJuanGee]

if you have a fully verified coin base account that is. SO GET SPENDING. Even if you pay USD go USD to BTC to buy... it's actually cheaper that way.

How do you send USD to Coinbase/exchange/Bitpay/whatever, and what do they send to Dell -- USD, or BTC?  If USD, how do they send it?

This appears to be one of those basic retarded questions of yours that could easily be answered by yourself, if you were to buy and use bitcoins then you would possibly realize how to use them.  Of course, the customers pay in bitcoin, and then if Dell wants to convert them to fiat after the transaction, they have that fiat conversion option.

And that is the (non)answer that I get whenever I ask that question in this forum. I had to ask the same person three times (on another thread), before he understood the question (and answered it for only one special case).

I thought that I called the question stupid and I answered it...... and you are implying that you are seeking some kind of deeper and more significant meaning?  And what would that deeper and more significant meaning be?

Yes you called the question stupid, and no you did not understand it. If "you pay USD go USD to BTC to buy", as the poster suggested, how do you send USD to Coinbase/exchange/Bitpay/whatever?

I go to Dell's website, and I choose to pay with bitcoins from my blockchain wallet, no?  People acquire bitcoins in a variety of ways and then hold them and store them in various ways, and when it comes time to purchase something they send the bitcoins to the purchase address.  Then on Dell's end, they choose whether to hold the purchase in bitcoins or to immediately cash them out as fiat (Dell is using coinbase)..

Mostly Big merchants use Coinbase because they just sell what they get sell through Bitcoins,
 and it doesn't affect them Bitcoin Volatilities.

I doubt that we can make a blanket statement about what merchants are doing regarding their bitcoin purchases.  It may be true that a large number of them are immediately converting to fiat; however, they can change that at any point, in the event that they are o.k. with holding BTC.

I think when Overstock chose Coinbase, they made that choice b/c Coinbase was fairly aggressive to assure that Overstock got set up quickly - accordingly, Overstock did NOT shop around regarding which service to use.

[nby]

Yes you called the question stupid, and no you did not understand it. If "you pay USD go USD to BTC to buy", as the poster suggested, how do you send USD to Coinbase/exchange/Bitpay/whatever?

How about this:

I send the USD to the exchange in any way it's available to me, preferably with the cheapest one.

It could one of these:
ACH for Coinbase
Plain wire transfer (most of the exchanges)

Or even these:
Astropay (Bitstamp).
SEPA (Bitstamp, Kraken, and so on)
...

The point is, even if there are middle-man fees with all these methods, you will end up with BTC, which in turn gives you more purchasing power (due to discount, offers, etc) than you would have if you used USD directly.

[ChartBuddy]

Explanation

[iram3130]

if you have a fully verified coin base account that is. SO GET SPENDING. Even if you pay USD go USD to BTC to buy... it's actually cheaper that way.

How do you send USD to Coinbase/exchange/Bitpay/whatever, and what do they send to Dell -- USD, or BTC?  If USD, how do they send it?

This appears to be one of those basic retarded questions of yours that could easily be answered by yourself, if you were to buy and use bitcoins then you would possibly realize how to use them.  Of course, the customers pay in bitcoin, and then if Dell wants to convert them to fiat after the transaction, they have that fiat conversion option.

And that is the (non)answer that I get whenever I ask that question in this forum. I had to ask the same person three times (on another thread), before he understood the question (and answered it for only one special case).

I thought that I called the question stupid and I answered it...... and you are implying that you are seeking some kind of deeper and more significant meaning?  And what would that deeper and more significant meaning be?

Yes you called the question stupid, and no you did not understand it. If "you pay USD go USD to BTC to buy", as the poster suggested, how do you send USD to Coinbase/exchange/Bitpay/whatever?

I go to Dell's website, and I choose to pay with bitcoins from my blockchain wallet, no?  People acquire bitcoins in a variety of ways and then hold them and store them in various ways, and when it comes time to purchase something they send the bitcoins to the purchase address.  Then on Dell's end, they choose whether to hold the purchase in bitcoins or to immediately cash them out as fiat (Dell is using coinbase)..

Mostly Big merchants use Coinbase because they just sell what they get sell through Bitcoins,
 and it doesn't affect them Bitcoin Volatilities.

I doubt that we can make a blanket statement about what merchants are doing regarding their bitcoin purchases.  It may be true that a large number of them are immediately converting to fiat; however, they can change that at any point, in the event that they are o.k. with holding BTC.

I think when Overstock chose Coinbase, they made that choice b/c Coinbase was fairly aggressive to assure that Overstock got set up quickly - accordingly, Overstock did NOT shop around regarding which service to use.

Businesses don't like volatilities that is why they hedge their foreign currency that is not that volatile like Bitcoins.
So I am sure they will not hold Bitcoins and will sell asap they will get.

[ChartBuddy]

Explanation

[rebuilder]

Short term, not sure what to think. I thought we were seeing a rising wedge, but the bottom seems to have fallen out (and not much momentum followed). Could still see a third drive up.

All i see is the price going down again and no sign whatsoever that we're about to go up.

What is this, Dr. Jekyll and Mr. Bear? What happened to Dell news meaning the only way is up?