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

[ChartBuddy]

Explanation

[Brewins]

End of pump. We are back to pre microsoft announcement levels.

I would better not imagine how dumps will be like if the microsoft pump happened to be so insignificant

[Cassandra_PR]

...
A single post that is more insightful than 1000 posts from Mervyn Pumpkinhead, MatTheTwat, NotLambChop, Shrooomskit, and the like which plague this thread.

Thanks for sharing.  Welcome to my ignore list.

[BlindMayorBitcorn]

...
A single post that is more insightful than 1000 posts from Mervyn Pumpkinhead, MatTheTwat, NotLambChop, Shrooomskit, and the like which plague this thread.

Thanks for sharing.  Welcome to my ignore list.

[janos666]

End of pump. We are back to pre microsoft announcement levels.

I would better not imagine how dumps will be like if the microsoft pump happened to be so insignificant

I think this BTC->FIAT relay kind of adoption is still regarded as neutral or slightly bad news. It has a possibility to mobilize some sleeping coins (~get them dumped on the markets) while doesn't create instant demand. It won't be the case forever but it seems to be clear that it still is (at one point, it will start to build demand and the mobilizing power will descend). May be this was the last one of this kind (though I guess it wasn't).

[ChartBuddy]

Explanation

[FatherBob]

stood a Lamb as it had been slain,
having seven horns and seven eyes,
which are the seven Spirits of God sent forth into all the earth.



Blessing, and honour, and glory, and power,
be unto him that sitteth upon the throne,
and unto the Lamb for ever and ever.

[0x3d]

https://bitcointalk.org/index.php?topic=890078.0

[BlindMayorBitcorn]

Are we the greater fools that Muppet was on about then? *sigh* 

magic 8 ball never fails to deliver.

Losing faith, brother?

[ChartBuddy]

Explanation

[DaRude]

End of pump. We are back to pre microsoft announcement levels.

I would better not imagine how dumps will be like if the microsoft pump happened to be so insignificant

I think this BTC->FIAT relay kind of adoption is still regarded as neutral or slightly bad news. It has a possibility to mobilize some sleeping coins (~get them dumped on the markets) while doesn't create instant demand. It won't be the case forever but it seems to be clear that it still is (at one point, it will start to build demand and the mobilizing power will descend). May be this was the last one of this kind (though I guess it wasn't).

Only for people with limited brain power.

BTC adoption is great news. Period. Anyone who argues otherwise is an idiot or a troll.
WTF are people really that stupid? By that logic if newegg, overstock, and dell stopped accepting BTC it'd be great cause now people can't spend their BTC so we go to moon  Oh how terrible it would be if BTC is widely adopted think of all the places to spend it   
Adoption is the best thing that can happen to bitcoin the protocol that it's whole purpose. And good for bitcoin currency in the long run, maybe not as great for minute chart speculators

[WeltMaster]

Are we going to the moon lads? 

[ChartBuddy]

Explanation

[NotLambchop]

...
By that logic if newegg, overstock, and dell stopped accepting BTC it'd be great cause now people can't spend their BTC so we go to moon  ...

Most people who "invest" in BTC don't do it to shop at Dell & NewEgg.
They might want to believe that others buy BTC to shop at Dell & NewEgg, but they themselves don't.
Because after the novelty of buying with BTC wears off, the sheer stupidity of it begins to sink in.  Imagine:

1. Spend fiat to buy BTC
2. Send BTC to a payment processor, who
  2a. Sells your BTC for fiat &
  2b. Sends fiat to the merchant that "accepts BTC".
3. Re-buy BTC you spent, probably from the same payment processor but at a premium, because "investment."

Funny as hell, doubt it happens too much tho.  Now for someone with a BTC stash from way back...  Nah, that would only create sell pressure, so won't happen

[KJO]

I have feeling gentleman soon.

[mymenace]

I have feeling gentleman soon.

[mymenace]

I think it's not going to move much for several months. Not enough positive sentiment for BTC and altcoins, sadly.

But maybe we'll get lucky and the USD will crash, burn, and fizzle out 

soon

[mymenace]

Explanation

this wall is not moving much at all, whatever gets sold the wall is then propped up again

i thinks me should put on a tinfoil hat

soon

[ChartBuddy]

Explanation

[DaRude]

...
By that logic if newegg, overstock, and dell stopped accepting BTC it'd be great cause now people can't spend their BTC so we go to moon  ...

Most people who "invest" in BTC don't do it to shop at Dell & NewEgg.
They might want to believe that others buy BTC to shop at Dell & NewEgg, but they themselves don't.
Because after the novelty of buying with BTC wears off, the sheer stupidity of it begins to sink in.  Imagine:

1. Spend fiat to buy BTC
2. Send BTC to a payment processor, who'll
3. Sells your BTC for fiat &
4. Sends fiat to the merchant that "accepts BTC".
5. Re-buy BTC you spent, probably from the same payment processor but at a premium, because "investment."

Funny as hell, doubt it happens too much tho.  Now for someone with a BTC stash from way back...  Nah, that would only create sell pressure, so won't happen

I think it's been hammered to the ground that that's not a great use case for BTC. Would i go through those steps to buy something from MS? Unless merchant offers incentives like 2% off btc payments probably not. (And i don't see anyone arguing that so can you stop spamming that?)
I know that you keep coming back to that as your main trolling point.

Right now from what i see, the best use for BTC is
-worldwide illegal markets (and i think that's more than enough to justify current market cap)
-money transferrer (pay someone in Asia, send money home to Africa, pay with BTC when traveling to save on currency conversion/foreign transaction fees) etc...
-micro payments/tipping (look at reddit/changetip etc.. how's their volume going)

Would i spend fiat and buy BTC for that? You betchya.

MS acceptance, brings huge endorsement to BTC. Means the protocol is mature enough, getting out of proof of concept phase and into big guys putting their weight to support it (even through BitPay). Think of all the advertisement, shifting people opinions from bitcoin being magical online money for druggies at silk road to now a blue chip accepting it. MasterCard is trying very hard to put a negative PR spin on bitcoin, this turns it around.

And of course there's speculation. MS needs to counter Apple Pay, is this the first step? How about integrated BTC wallet with the new Windows release? To find more use cases that make sense you need more awareness and this definitely does it.

TL;DR it's positive endorsement, free advertisement. Finally know MS stance on BTC and it's positive, so they won't try to fight it, opens huge potential for all new financially viable use cases. Bullish for these reason NOT that people start buying BTC to pay MS.