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

[macsga]

You don't have the slightest clue what quantum physics is about, do you? Science is most definitely not a religion, it's a method. A very successful method towards generating understanding and technological progress from that understanding. Quantum physics has fuck-all to do with 'belief', to put it bluntly.

Science (from Latin scientia, meaning "knowledge"[1]) is a systematic enterprise that builds and organizes knowledge in the form of testable explanations and predictions about the universe.[2][3][4] In an older and closely related meaning, "science" also refers to a body of knowledge itself, of the type that can be rationally explained and reliably applied. A practitioner of science is known as a scientist.

source: http://en.wikipedia.org/wiki/Science

Go on then, state your point?

What would I know about science? I'm only a troll here. Go away!

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[criptix]

so people bought btc to pump doge you say? 

He's claiming people are sending btc to exchanges to pump doge.. that is network transactions, not exchange transactions.

ah that makes more sense

[adamstgBit]

i'm sure some BTC buys are just to buy into some altcoin.

thats not exactly bearish for bitcoin tho ...

[esse83]

frontpage of reddit:

http://www.reddit.com/r/technology/comments/2hm3f5/paypal_now_lets_shops_accept_bitcoin/

[Boxman90]

Now that Bitcoin is accepted by Paypal, which uses BitPay, I expect increased selling pressure. Every purchase made with BTC through Paypal will effectively equal selling those Bitcoin for FIAT. As the recipients of the transactions through Paypal will have to receive USD (I think 99.9% of vendors / ebay users does not have a bitcoin wallet anyway), every transaction paid with Bitcoin will be dumped on the nearest exchange immediately, so that PayPal (or rather, Bitpay and Coinbase) can pay out the recipient.

Therefore this is good for Bitcoin adoption, bad for Bitcoin price.

[esse83]

Now that Bitcoin is accepted by Paypal, which uses BitPay, I expect increased selling pressure. Every purchase made with BTC through Paypal will effectively equal selling those Bitcoin for FIAT. As the recipients of the transactions through Paypal will have to receive USD (I think 99.9% of vendors / ebay users does not have a bitcoin wallet anyway), every transaction paid with Bitcoin will be dumped on the nearest exchange immediately, so that PayPal (or rather, Bitpay and Coinbase) can pay out the recipient.

Therefore this is good for Bitcoin adoption, bad for Bitcoin price.

Pretty much, also they have admitted to this being a study of consumer behaviour. We might all be exposed soon, as hodlers. Oh dear..

[JayJuanGee]

OH NOES. JJG is awake. I enjoyed the nonsense talk about God and religions. Now the punisher is here and will hit hard with...

cute.


NOT     

[Davyd05]

If you wanna dish you gotta take it too.

I'm sure it is just trolling behavior all these reddit post asking how PayPal using bitcoin is good for bitcoin. I think it's easily believable that we don't have too much more then a couple million people using btc and therefore PayPal will only add exporsure to businesses and consumers alike. At this point exposure is the important factor.

[Malin Keshar]

How a topic about Bitcoin price ended up as a discussion about quantum mechanics?

By the way: can I receive Bitcoin as payment for selling stuff on paypal?

[JayJuanGee]

BACK ON TOPIC PLZ!!!!!1

https://twitter.com/brockpierce/status/515623773043957761/photo/1
CCMF?!!1

Anything to do with the transaction spam made by a certain company whose name I won't say?

They are spamming the whole blockchain with 1 satoshi transactions

Link or it didn't happen.   

[paul2000]

Now that Bitcoin is accepted by Paypal, which uses BitPay, I expect increased selling pressure. Every purchase made with BTC through Paypal will effectively equal selling those Bitcoin for FIAT. As the recipients of the transactions through Paypal will have to receive USD (I think 99.9% of vendors / ebay users does not have a bitcoin wallet anyway), every transaction paid with Bitcoin will be dumped on the nearest exchange immediately, so that PayPal (or rather, Bitpay and Coinbase) can pay out the recipient.

Therefore this is good for Bitcoin adoption, bad for Bitcoin price.

Yes, but not every satoshi payed via PayPal comes from old hodlers. I even think that most payments thru PayPal will be made by new users, and these users have to buy bitcoins first!

[macsga]

How a topic about Bitcoin price ended up as a discussion about quantum mechanics?

By the way: can I receive Bitcoin as payment for selling stuff on paypal?

Too many scientists here. We need more trolls. This thread is simply pathetic. 

[Malin Keshar]

BACK ON TOPIC PLZ!!!!!1

https://twitter.com/brockpierce/status/515623773043957761/photo/1
CCMF?!!1

Anything to do with the transaction spam made by a certain company whose name I won't say?

They are spamming the whole blockchain with 1 satoshi transactions

Link or it didn't happen.   

https://bitcointalk.org/index.php?topic=795646.0

there are others topics about it

[adamstgBit]

How a topic about Bitcoin price ended up as a discussion about quantum mechanics?

By the way: can I receive Bitcoin as payment for selling stuff on paypal?

i dont think so.

merchants that use "braintree" will be able to accept $ via BTC payments, is my guess

baby steps.

[spooderman]

How a topic about Bitcoin price ended up as a discussion about quantum mechanics?

By the way: can I receive Bitcoin as payment for selling stuff on paypal?

i dont think so.

merchants that use "braintree" will be able to accept $ via BTC payments, is my guess

baby steps.

Lame. Is this defo the case?

[Boxman90]

Yes, but not every satoshi payed via PayPal comes from old hodlers. I even think that most payments thru PayPal will be made by new users, and these users have to buy bitcoins first!

Why would you now suddenly buy Bitcoin first, to then immediately spend them on Ebay?

Right now, only if you already own Bitcoin, will you use Paypal's feature. For the short to semi-short term this will mean added selling pressure. Once word got out, and people are using Bitcoin more widespread, other people will think about getting into Bitcoin, but this is not something that happens in the next few weeks.

[adamstgBit]

How a topic about Bitcoin price ended up as a discussion about quantum mechanics?

By the way: can I receive Bitcoin as payment for selling stuff on paypal?

i dont think so.

merchants that use "braintree" will be able to accept $ via BTC payments, is my guess

baby steps.

Lame. Is this defo the case?

for now, yes.

[justusranvier]

every transaction paid with Bitcoin will be dumped on the nearest exchange immediately

I don't believe that BitPay gets all, or maybe even most, of their dollars from exchanges.

They probably have underwriters who want to accumulate bitcoins without going through the exchanges who buy them from BitPay.

They've had this kind of arrangement in the past - according to rumours some people became Bitcoin millionaires via this route - but I don't know if they still do it.

[MoreFun]

How a topic about Bitcoin price ended up as a discussion about quantum mechanics?

By the way: can I receive Bitcoin as payment for selling stuff on paypal?

i dont think so.

merchants that use "braintree" will be able to accept $ via BTC payments, is my guess

baby steps.

Lame. Is this defo the case?

for now, yes.

Early next year they will add it as a wallet, then we might even break $500.

You know what they say, buy the rumour, sell the news.

[ChartBuddy]

Explanation