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

[exocytosis]

Did I understand correctly, that now people can buy BTC at Circle, paying with their credit cards, so that they can pay with BTC at Dell, Newegg etc. without using their credit cards?

Yes. And look at the incredible rally we're currently experiencing due to that fact! Bullish!  

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[Wandererfromthenorth]

Did I understand correctly, that now people can buy BTC at Circle, paying with their credit cards, so that they can pay with BTC at Dell, Newegg etc. without using their credit cards?

Whoever is buying BTC to use them to pay stuff at Newegg and all of that shit (especially now) is definitely some dumb fuck

[adamstgBit]

if you want a nice physical coin wallet i only accept bitcoin.

[fonzie]

if you want a nice physical coin wallet i only accept bitcoin.

Do you also sell physical DOGE wallets?

[Thomas-s]

[Pala_00]

[oda.krell]

This (Circle) will have taken at least 12 months (two years, more?) to plan and bring to fruition, so they couldn't have expected to open in such a bearish period.  Will their presence increase demand?

It's unlikely IMO, sentiment is going to take a long time to turn around from Gox (which everyone here seems to have forgotten).

So your argument is sentiment will take a long time to change for the great unwashed because of gox, and your closing statement is that we, those most affected by it, have already forgotten gox. Erm.

Way to twist what he meant. Here, I'll paraphrase it the way I've been saying it myself more than once in the past:

1) Gox was, and still is, hugely bearish. Trust in crypto lost by "Bitcoin outsiders" is significant.

2) Forumites shrug off gox as "just another exchange that blew up", "should have kept your coins in a paper wallet, hur dur". They are most likely wrong about that.

Where's the contradicton in those two statements?

[oda.krell]

Users of this forum had no sympathy for those who suffered huge Gox loses (the general attitude was "we knew better, serves you right") and the idea that Gox may have impacted on the 'unwashed' does seem to have completely been forgotten by most here.

People who lost money on Gox had no sympathy for the people who tried to warn them for years that if they didn't hold the private keys they didn't actually have any bitcoins in spite of being attacked and ridiculed by the shills of whatever service was getting ready to scam their users next.

At some point maybe if the unwashed masses aren't willing to do their own research they don't deserve to hold bitcoins yet.

That's not how it works...

Agreed, there were plenty of signs that gox was in big trouble. Whoever saw that huge-ass thread about delayed withdrawals and still kept sending funds there was kind of asking for it.

But the other point, "if you don't hold the private keys, you deserve what you get" is practically useless as a guideline. How are we supposed to get those precious coins, if not through an exchange? Not everyone's cut out to be a miner, or do semi-shady OTC deals.

Point is, as long as centralized exchanges are the best option we have to get our hands on bitcoins, we will have to have a slightly more nuanced view on them, in my opinion: ideally, get your funds out of the exchange as soon as you can, but general heuristics apply as well (how trustworthy do the exchange owners appear? where is it registered? are there delayed withdrawals, fiat or btc?)

Does that make any sense?

[ChartBuddy]

Explanation

[justusranvier]

Point is, as long as centralized exchanges are the best option we have to get our hands on bitcoins, we will have to have a slightly more nuanced view on them, in my opinion: ideally, get your funds out of the exchange as soon as you can, but general heuristics apply as well (how trustworthy do the exchange owners appear? where is it registered? are there delayed withdrawals, fiat or btc?)

Did anyone lose significant amounts of bitcoins if they were just using the exchanges for purchasing and immediately withdrew the coins they bought?

I've never seen such a story.

[abercrombie]

Did I understand correctly, that now people can buy BTC at Circle, paying with their credit cards, so that they can pay with BTC at Dell, Newegg etc. without using their credit cards?

Haha... funny.  

Sometimes, companies like Newegg had 10% off promotions if you use Bitcoin.  Could expect similar deals going into Black Friday.

[ShroomsKit]

All the bears selling and shorting now is really going to create a huge buying pressure once we have a good solid period of green candles. Once all of your coins are gone only the holders and miners will have bitcoins and thus creating a smaller daily supply. I really thank you guys for loading this spring.... when the bitcoin market turns around it's going to be quite an epic price explosion.

We heard that one for how many months now ?

The coins are never "gone". What is being sold today can be again sold tomorrow by the buyers of today. How do you know the buyers of today are holders ? If their expectations are not met, they might very well sell as well.

When you pull too strong on the spring, it bends and breaks.

The majority of the coins being scooped up now aren't being bought by Joe public. At extreme price levels it is the big players who buy low. That is just how markets work.

/r/bitcoin is spammed with troll and doom and gloom.
/r/bitcoinmarkets is near universally bearish

We are gearing up for a flash crash followed by a high volume reversal even exocytosis cannot miss. Where it happens who knows. But like klee I will continue to buy all the way down!

The big players. Right. Can you show us some kind of proof this is happening?

You want proof big players buy on price weakness and market extremes..er seriously?

So no proof. What a surprise.

[JorgeStolfi]

Can a Circle client "see" his bitcoins somehow (e.g. as an exclusive blockchain address)?  If not, does Circle promise to hold the clients' bitcoins as bitcoins, or do they only promise to honor bitcoin withdrawals when they are requested?

[akujin]

btce pump 

[fonzie]

BTC-E goin wild

[adamstgBit]

sell on btc-e so we can have our arbitrage opportunity again

[ask]

It looks that Circle will be the main reason for trend reversal.  Small & continuous  buys  every day around the world...

[inca]

It looks that Circle will be the main reason for trend reversal.  Small & continuous  buys  every day around the world...

It doesn't even have to add much buying pressure to stem the tide. I wonder what exchanges they are linked to.

Edit: some good nibbling going on

[ShroomsKit]

It looks that Circle will be the main reason for trend reversal.  Small & continuous  buys  every day around the world...

It doesn't even have to add much buying pressure to stem the tide. I wonder what exchanges they are linked to.

Edit: some good nibbling going on

You really are completely in denial.

[akujin]

btce is in bull mode!