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

[spooderman]

buy bUY BUY!1

It's been a long time...

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[Gimmelfarb]

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.

yeah, i suspect they broker deals off exchange. but it's also hard to say when off-exchange demand is drying up. maybe it is, maybe it isn't. at some point, bitpay may still have to dump on exchanges.

[adamstgBit]

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.

yeah, i suspect they broker deals off exchange. but it's also hard to say when off-exchange demand is drying up. maybe it is, maybe it isn't. at some point, bitpay may still have to dump on exchanges.

bitpay sells on exchanges, always have...

[MoreFun]

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.

yeah, i suspect they broker deals off exchange. but it's also hard to say when off-exchange demand is drying up. maybe it is, maybe it isn't. at some point, bitpay may still have to dump on exchanges.

bitpay sells on exchanges, always have...

They could have some deal with the big buyers and earn some percentage also there, since they become *free*.

[Wandererfromthenorth]

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.

yeah, i suspect they broker deals off exchange. but it's also hard to say when off-exchange demand is drying up. maybe it is, maybe it isn't. at some point, bitpay may still have to dump on exchanges.

bitpay sells on exchanges, always have...

Which exchange?

Stamp? Finex?

All of them?

They just market dump?

[spooderman]

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.

yeah, i suspect they broker deals off exchange. but it's also hard to say when off-exchange demand is drying up. maybe it is, maybe it isn't. at some point, bitpay may still have to dump on exchanges.

bitpay sells on exchanges, always have...

Really? This actually lends weight to the, "Adoption causes price to fall" argument.

[adamstgBit]

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.

yeah, i suspect they broker deals off exchange. but it's also hard to say when off-exchange demand is drying up. maybe it is, maybe it isn't. at some point, bitpay may still have to dump on exchanges.

bitpay sells on exchanges, always have...

They could have some deal with the big buyers and earn some percentage also there, since they become *free*.

maybe...

what if that money runs out and all the shopping selling pressure hits the exchanges  

[adamstgBit]

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.

yeah, i suspect they broker deals off exchange. but it's also hard to say when off-exchange demand is drying up. maybe it is, maybe it isn't. at some point, bitpay may still have to dump on exchanges.

bitpay sells on exchanges, always have...

Which exchange?

Stamp? Finex?

All of them?

They just market dump?

probably all of them.

they probably have a monkey

[adamstgBit]

i think they do like 1million $ of volume a day. says coindesk a few months ago.

[abercrombie]

Bitlicense will continue to hover over BTC like a fake wall, well into November when Ben Lawsky makes his keynote.  

Afterward, Bitcoin companies will be forced not to conduct business with those in New York.  It'll be like that movie, escape from NY.

[Boxman90]

bitpay sells on exchanges, always have...

Really? This actually lends weight to the, "Adoption causes price to fall" argument.

Which exchange?

Stamp? Finex?

All of them?

They just market dump?

probably all of them.

they probably have a monkey

This was not common knowledge yet? C'mon guys.. It's literally on their site

https://bitpay.com/bitcoin-exchange-rates

To calculate the exchange rate for US Dollars, we pull the market depth from exchanges with adequate liquidity and withdrawal capability in USA and the Eurozone. The exchange order books are merged into a Consolidated Level II table.

The BBB is calculated by simulating an auto-routing market sell order, across all exchanges, with zero commission fees.

[ChartBuddy]

Explanation

[adamstgBit]

[JorgeStolfi]

This was not common knowledge yet? C'mon guys.. It's literally on their site
https://bitpay.com/bitcoin-exchange-rates

To calculate the exchange rate for US Dollars, we pull the market depth from exchanges with adequate liquidity and withdrawal capability in USA and the Eurozone. The exchange order books are merged into a Consolidated Level II table.
The BBB is calculated by simulating an auto-routing market sell order, across all exchanges, with zero commission fees.

That is how the compute the exchange rate to convert the price in dollars (from the merchant) to the price in bitcoin (that the client must pay).  It MAY be how they convert the bitcoins to dollars; but I suppose that the conversion is not immediate, and thus they may play the market a bit and/or sell off-exchange.

[adamstgBit]

This was not common knowledge yet? C'mon guys.. It's literally on their site
https://bitpay.com/bitcoin-exchange-rates

To calculate the exchange rate for US Dollars, we pull the market depth from exchanges with adequate liquidity and withdrawal capability in USA and the Eurozone. The exchange order books are merged into a Consolidated Level II table.
The BBB is calculated by simulating an auto-routing market sell order, across all exchanges, with zero commission fees.

That is how the compute the exchange rate to convert the price in dollars (from the merchant) to the price in bitcoin (that the client must pay).  It MAY be how they convert the bitcoins to dollars; but I suppose that the conversion is not immediate, and thus they may play the market a bit and/or sell off-exchange.

yes of course they have a monkey, and i'm sure tony has a pretty large stake in bitcoin himself...

[yokosan]

New ATH incoming!

[yokosan]

New ATH incoming!

I hope it comes with koolaid:D

Also more: https://blockchain.info/charts/n-unique-addresses?showDataPoints=false&show_header=true&daysAverageString=7&timespan=&scale=1&address=

I'm convinced that we are on the brink of an explosion... perhaps it will be delayed until after the ATHs on those charts are much higher... but once the rocket is fuelled it is going to be a huge...

[adamstgBit]

[Wandererfromthenorth]

perma-bulls... perma-bulls everywhere...

[adamstgBit]

perma-bulls... perma-bulls everywhere...

perma-bulls are always bullish, if your waiting for us to be bearish... you're gonna be waiting a long time...