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

[edwardspitz]

What is the bitstamp international wire deposit delay like? Any ideas? Might be delaying the response to the low prices?

I think it is about 5 days on average.


Edit: in case you are worried you will miss "cheap" coins, I dont think you have to, because there is still a big possibility that we will see even "cheaper" coins.

International as in sending from the US to Slovenia?  I send in the morning from the US, money is in my Bitstamp account and verified when I wake up the next day.

really ? Interesting, I thought only SEPA is that fast, beside they say 5 days in their website... I am really impressed.

I sent a few thousand Euro from the UK to someone in Belgium and it arrived pretty much instantly. I believe it took minutes, not even hours to complete.

I think Exchange247 might be a lot faster... Anyway that was the impression I got from Fonzie when he tried it back on page 9xxx

[rb1205]

National sepa transfer from and to the same bank takes usually 2+ days in germany.
And im talking about volksbank, deutsche bank etc.

Seems weird that international sepa proceeds instantly
Fiat rocks

That's true: domestic transfers are still authorized manually in most countries and banks, while SEPA transfers are completely automatic.

[BldSwtTrs]

Seems weird that international sepa proceeds instantly
Fiat rocks

Maybe we don't need Bitcoin after all. 

[MICRO]

Seems weird that international sepa proceeds instantly
Fiat rocks

Maybe we don't need Bitcoin after all. 

Ask him about fees. And then think twice .

[criptix]

Seems weird that international sepa proceeds instantly
Fiat rocks

Maybe we don't need Bitcoin after all. 

Ask him about fees. And then think twice .

 

[NotLambchop]

Seems weird that international sepa proceeds instantly
Fiat rocks

Maybe we don't need Bitcoin after all. 

Nonsense.  Long before Bitcoin was a thing, I dreamed of money with wildly fluctuating buying power.
I imagined a world where it took an hour to buy a cup of coffee, an hour to gas up your car, an hour to buy a bag of groceries...  Because math.

[criptix]

Seems weird that international sepa proceeds instantly
Fiat rocks

Maybe we don't need Bitcoin after all. 

Nonsense.  Long before Bitcoin was a thing, I dreamed of money with wildly fluctuating buying power.
I imagined a world where it took an hour to buy a cup of coffee, an hour to gas up your car, an hour to buy a bag of groceries...  Because math.

Zero confirmations duh.

Volatility is a problem because btc is in its infancy. With increasing adoption the swings will be smaller and smaller

[Spaceman_Spiff]

Seems weird that international sepa proceeds instantly
Fiat rocks

Maybe we don't need Bitcoin after all. 

Nonsense.  Long before Bitcoin was a thing, I dreamed of money with wildly fluctuating buying power.
I imagined a world where it took an hour to buy a cup of coffee, an hour to gas up your car, an hour to buy a bag of groceries...  Because math.

Obviously you've never done any actual shopping with bitcoin.

[thompete]

Seems weird that international sepa proceeds instantly
Fiat rocks

Maybe we don't need Bitcoin after all. 

Nonsense.  Long before Bitcoin was a thing, I dreamed of money with wildly fluctuating buying power.
I imagined a world where it took an hour to buy a cup of coffee, an hour to gas up your car, an hour to buy a bag of groceries...  Because math.

Zero confirmations duh.

Volatility is a problem because btc is in its infancy. With increasing adoption the swings will be smaller and smaller

Why will with increase in adoption swings be less? Wouldn't it be more as more people will buy so demand increases?

[NotLambchop]

Seems weird that international sepa proceeds instantly
Fiat rocks

Maybe we don't need Bitcoin after all. 

Nonsense.  Long before Bitcoin was a thing, I dreamed of money with wildly fluctuating buying power.
I imagined a world where it took an hour to buy a cup of coffee, an hour to gas up your car, an hour to buy a bag of groceries...  Because math.

Obviously you've never done any actual shopping with bitcoin.

I have never bought a cup of coffee with Bitcoin.
I have never gassed up my car with Bitcoin.
I have never bought a bag of groceries with Bitcoin.
It was just a dream...

[Spaceman_Spiff]

Volatility is a problem because btc is in its infancy. With increasing adoption the swings will be smaller and smaller

Why will with increase in adoption swings be less? Wouldn't it be more as more people will buy so demand increases?

Throw a bucket of water into your bath --> bath water moves a lot. Throw a bucket of water in the ocean --> ocean doesn't move a lot.

[Spaceman_Spiff]

Nonsense.  Long before Bitcoin was a thing, I dreamed of money with wildly fluctuating buying power.
I imagined a world where it took an hour to buy a cup of coffee, an hour to gas up your car, an hour to buy a bag of groceries...  Because math.

Obviously you've never done any actual shopping with bitcoin.

I have never bought a cup of coffee with Bitcoin.
I have never gassed up my car with Bitcoin.
I have never bought a bag of groceries with Bitcoin.
It was just a dream...

If you have and it took an hour, then those places seriously need to rethink how they accept their bitcoins.
My payments go through instantly (zero confirmations required).

[NotLambchop]

...
Nonsense.  Long before Bitcoin was a thing, I dreamed of money with wildly fluctuating buying power.
I imagined a world where it took an hour to buy a cup of coffee, an hour to gas up your car, an hour to buy a bag of groceries...  Because math.

Zero confirmations duh.
...

Err.  I'm solow, explain to me how that works.

[MICRO]

...
Nonsense.  Long before Bitcoin was a thing, I dreamed of money with wildly fluctuating buying power.
I imagined a world where it took an hour to buy a cup of coffee, an hour to gas up your car, an hour to buy a bag of groceries...  Because math.

Zero confirmations duh.
...

Err.  I'm solow, explain to me how that works.

First time i paid something with bitcoin was in one restaurant in Belgrade in august.
It was 10s process. He shown me qe code i scanned it , changed the amount a bit so i give some tip ,and click send, and that was it. Ofc they didn't wait for 1-6 confirmations to let me go haha... They ware fine with 0 conf , i guess they only check if there is fee ant that is all.

I mean im paying form my phone for my diner , how big possibility there is that i will double spend that . 

[Torque]

...
Nonsense.  Long before Bitcoin was a thing, I dreamed of money with wildly fluctuating buying power.
I imagined a world where it took an hour to buy a cup of coffee, an hour to gas up your car, an hour to buy a bag of groceries...  Because math.

Zero confirmations duh.
...

Err.  I'm solow, explain to me how that works.

Hey, here's an idea.  Let's discuss a subject (confirmation times) that's been discussed a gazillion times on 1000 forums/websites over the last 5 years.  Because I'm sure that NotLambchop, in his infinite wisdom, will surely bring up some new information regarding that subject that has never been pondered a thousand times before!  

[Odalv]

...
Nonsense.  Long before Bitcoin was a thing, I dreamed of money with wildly fluctuating buying power.
I imagined a world where it took an hour to buy a cup of coffee, an hour to gas up your car, an hour to buy a bag of groceries...  Because math.

Zero confirmations duh.
...

Err.  I'm solow, explain to me how that works.

Can you imagine

1. There will be bitcoin bank.
2. I'll fund my account with bitcoins in this bank.
3. This bank will pay to merchant 1 per day for all his customers.

[NotLambchop]

...
Nonsense.  Long before Bitcoin was a thing, I dreamed of money with wildly fluctuating buying power.
I imagined a world where it took an hour to buy a cup of coffee, an hour to gas up your car, an hour to buy a bag of groceries...  Because math.

Zero confirmations duh.
...

Err.  I'm solow, explain to me how that works.

First time i paid something with bitcoin was in one restaurant in Belgrade in august.
It was 10s process. He shown me qe code i scanned it , changed the amount a bit so i give some tip ,and click send, and that was it. Ofc they didn't wait for 1-6 confirmations to let me go haha... They ware fine with 0 conf , i guess they only check if there is fee ant that is all.

I mean im paying form my phone for my diner , how big possibility there is that i will double spend that . 

Sure, trusting people works.  But then you don't need the blockchain

@Torque:  If you have nothing to contribute, stop shitting up the thread, K?

[MICRO]

...
Nonsense.  Long before Bitcoin was a thing, I dreamed of money with wildly fluctuating buying power.
I imagined a world where it took an hour to buy a cup of coffee, an hour to gas up your car, an hour to buy a bag of groceries...  Because math.

Zero confirmations duh.
...

Err.  I'm solow, explain to me how that works.

Can you imagine

1. There will be bitcoin bank.
2. I'll fund my account with bitcoins in this bank.
3. This bank will pay to merchant 1 per day for all his customers.

No no no ... Bad idea . They will also charge "some" fees.

Bitpay is awesome thou. They don't wait for confirmations so its fast and also secure for merchants.

[JorgeStolfi]

I mean im paying form my phone for my diner , how big possibility there is that i will double spend that . 

Someone must write a phone app for that: will send out a tx to move the coins to another address, with slightly higher priority, just a second before sending out the tx that pays the bill from the emptied account...

(Glad to know that Bitcoin has finally abandoned that "trustless" nonsense.  )

[NotLambchop]

...
Can you imagine

1. There will be bitcoin bank.
2. I'll fund my account with bitcoins in this bank.
3. This bank will pay to merchant 1 per day for all his customers.

Sure can.  We had several, NeoBee being the fanciest