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

[Christianne_Gottlieb]

So many math geniuses running around here, because...bitcoin.

This price action reminds me of ~250. Solid support, shorts closing...til it drops further.

[1715250617]

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[1715250617]

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[1715250617]

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[SkyValeey]

AFAIK, this is likely in 3 hours. Could be epic or just fizzle out. But I have set a timer to alert me

I just had a 235.07 sell order filled, from a 214.xx buy barely a week ago. Im happy. 

Congratulation to your 5$ profit!! I am really happy for you  

235-214=5? You were perma-high on a math in school?

[Cassius]

No. Not what the article implies.

Read the two quotes from the investors. They do not mention bitcoin nor crytocurrencies, intead they say "digital payments". 

Apart from the investment, the big news in the article is basically

And for the first time, we're giving Circle customers the ability to hold, send, and receive US dollars as well as bitcoin -- instantly, securely, and with no fees. In addition to sending and receiving dollars, customers can also enjoy the benefits of the Bitcoin network without the risk of price volatility. [ ... ] Customers with dollar accounts gain all of the benefits of digital currency -- instant, secure and free payments to anyone in the world -- without holding or explicitly converting dollars into bitcoins. [ ... ]  This way, customers can choose to view Bitcoin not as a new currency to replace the dollar, but as an Internet payment network that enables secure, instant, global and nearly free payments.

Ditto for the plans to service China:  since the Chinese merchants and services cannot quote their prices in bitcoins, Circle will be a way to convert bitcoins or dollars in the US to yuan in China.  Guess which of the two services may generate enough fees to repay 50 M$ of investment. (BitPay's bitcoin-to-dollar service processed ~160 M$ of payments in the whole of 2014, which may have generated 3--4 M$ of fee revenue at most.)

By the way, the article says

Dollar account balances held by Circle customers are FDIC-insured.

When Coinbase opened their exchange they too made this claim.  Somewhere in their FAQ, however, it was explained that Coinbase's bank account was FDIC insured against failure of the bank, for the standard 250'000 $ total.  They also claimed that they were licensed to operate in NY and CA, when in fact they just had assumed, erroneously, that they did not need licenses there; and that their BTC holdings were insured by a private company, when only the 5% max that they keep in their hot wallet was.

I wonder if Circle's statement above too is making full use of the wonderful flexibility of the English language?

I understood that they are approaching the problem of volatility in the same way as Coinapult, Cubits, etc, and I suspect many more in the coming months. That would make sense given the context.
I’m not a die-hard bitcoin believer who thinks it will go to $1 million and become the world’s no. 1 currency, and I can see lots of faults with bitcoin that may or may not be fixed. I can see the potential of it, and the potential of blockchain tech more generally. At least I keep an open mind. You have already made your mind up and filter everything through that decision. Which I find strange, for someone who is supposed to be a scientist. You are not remotely objective about this, which puts you in the same category as the ‘moon’ crowd.

[findftp]

AFAIK, this is likely in 3 hours. Could be epic or just fizzle out. But I have set a timer to alert me

I just had a 235.07 sell order filled, from a 214.xx buy barely a week ago. Im happy. 

Congratulation to your 5$ profit!! I am really happy for you  

235-214=5? You were perma-high on a math in school?

Well, maybe there was only 0,5 BTC traded?
I know, I'm a genius.

[ensurance982]

<crap>

Good luck!

His scenario would imply coins to go to a few USD each, which would imply that the total market cap would be something like $30m which is completely nonsensical. Fractals are tricky, though it's very hard to gauge their scale!

[hdbuck]

AFAIK, this is likely in 3 hours. Could be epic or just fizzle out. But I have set a timer to alert me

I just had a 235.07 sell order filled, from a 214.xx buy barely a week ago. Im happy. 

Congratulation to your 5$ profit!! I am really happy for you   

235-214=5? You were perma-high on a math in school?

Well, maybe there was only 0,5 BTC traded?
I know, I'm a genius.

0,25

[Wings1987]

No. Not what the article implies.

Read the two quotes from the investors. They do not mention bitcoin nor crytocurrencies, intead they say "digital payments". 

Apart from the investment, the big news in the article is basically

And for the first time, we're giving Circle customers the ability to hold, send, and receive US dollars as well as bitcoin -- instantly, securely, and with no fees. In addition to sending and receiving dollars, customers can also enjoy the benefits of the Bitcoin network without the risk of price volatility. [ ... ] Customers with dollar accounts gain all of the benefits of digital currency -- instant, secure and free payments to anyone in the world -- without holding or explicitly converting dollars into bitcoins. [ ... ]  This way, customers can choose to view Bitcoin not as a new currency to replace the dollar, but as an Internet payment network that enables secure, instant, global and nearly free payments.

Ditto for the plans to service China:  since the Chinese merchants and services cannot quote their prices in bitcoins, Circle will be a way to convert bitcoins or dollars in the US to yuan in China.  Guess which of the two services may generate enough fees to repay 50 M$ of investment. (BitPay's bitcoin-to-dollar service processed ~160 M$ of payments in the whole of 2014, which may have generated 3--4 M$ of fee revenue at most.)

By the way, the article says

Dollar account balances held by Circle customers are FDIC-insured.

When Coinbase opened their exchange they too made this claim.  Somewhere in their FAQ, however, it was explained that Coinbase's bank account was FDIC insured against failure of the bank, for the standard 250'000 $ total.  They also claimed that they were licensed to operate in NY and CA, when in fact they just had assumed, erroneously, that they did not need licenses there; and that their BTC holdings were insured by a private company, when only the 5% max that they keep in their hot wallet was.

I wonder if Circle's statement above too is making full use of the wonderful flexibility of the English language?

I understood that they are approaching the problem of volatility in the same way as Coinapult, Cubits, etc, and I suspect many more in the coming months. That would make sense given the context.
I’m not a die-hard bitcoin believer who thinks it will go to $1 million and become the world’s no. 1 currency, and I can see lots of faults with bitcoin that may or may not be fixed. I can see the potential of it, and the potential of blockchain tech more generally. At least I keep an open mind. You have already made your mind up and filter everything through that decision. Which I find strange, for someone who is supposed to be a scientist. You are not remotely objective about this, which puts you in the same category as the ‘moon’ crowd.

Well said!

[findftp]

AFAIK, this is likely in 3 hours. Could be epic or just fizzle out. But I have set a timer to alert me

I just had a 235.07 sell order filled, from a 214.xx buy barely a week ago. Im happy. 

Congratulation to your 5$ profit!! I am really happy for you   

235-214=5? You were perma-high on a math in school?

Well, maybe there was only 0,5 BTC traded?
I know, I'm a genius.

0,25

You're the genius.

[publicjud]

When does GBTC go live?

[ChartBuddy]

Coin
Explanation

[ensurance982]

When does GBTC go live?

Well, when does the NYSE open? I guess it's still an hour or so - if they really start trading today. It remains to be seen how the market reacts. What will happen if no one is willing to sell? Is that bullish? Bearish? Of no consequences? We'll see...

[Norway]

When does GBTC go live?

One and a half hour, I think. If people choose to sell.

EDIT: Sorry, 23 minutes!
EDIT2: + Add 15 minutes on the delayed public quote.

[Spaceman_Spiff]

I just had a 235.07 sell order filled, from a 214.xx buy barely a week ago. Im happy. 

Congratulation to your 5$ profit!! I am really happy for you   

235-214=5? You were perma-high on a math in school?

Well, maybe there was only 0,5 BTC traded?
I know, I'm a genius.

0,25

You're the genius.

0.2380952380952381 (assuming no trading fees) --> I want to be called a genius too... 

[galdur]

Sweden's Nasdaq exchange has approved a bitcoin-based exchange traded note (ETN), opening up investment in the digital currency to those who do not want to directly purchase and hold bitcoins.

The Bitcoin Tracker One, launched by Stockholm-based XBT Provider AB, which is owned by the KnC Group and is expected to launch on 18th May.

In a statement, Alexander Marsh, chief executive officer of XBT Provider AB, said:

"By enabling this easy and secure way to invest in bitcoin we hope to have eliminated the boundaries that earlier prevented individuals and companies from being able to actively invest in what we believe to be the future of money."

http://www.coindesk.com/swedens-nasdaq-exchange-approves-bitcoin-based-etn/

[SkyValeey]

I just had a 235.07 sell order filled, from a 214.xx buy barely a week ago. Im happy.  

Congratulation to your 5$ profit!! I am really happy for you  

235-214=5? You were perma-high on a math in school?

Well, maybe there was only 0,5 BTC traded?
I know, I'm a genius.

0,25

You're the genius.

0.2380952380952381 (assuming no trading fees) --> I want to be called a genius too...  

I call you GENIUS. High-class calculator operator.

[Fatman3001]

When does GBTC go live?

Well, when does the NYSE open? I guess it's still an hour or so - if they really start trading today. It remains to be seen how the market reacts. What will happen if no one is willing to sell? Is that bullish? Bearish? Of no consequences? We'll see...

I would be surprised if nobody decided to reshuffle their portfolio after the year that has passed

[LFC_Bitcoin]

When does GBTC go live?

I'm not sure if Barry himself even knows?

[Spaceman_Spiff]

0.2380952380952381 (assuming no trading fees) --> I want to be called a genius too...  

I call you GENIUS. High-class calculator operator.

Yeehaww, I knew those years of intense practicing would pay off.  Gonna print this post and let my mummy stick it to the refrigerator .
--> ok, I am done being off topic for now. 

[LFC_Bitcoin]

When does GBTC go live?

One and a half hour, I think. If people choose to sell.

EDIT: Sorry, 23 minutes!
EDIT2: + Add 15 minutes on the delayed public quote.

Really?

[TakeTheSkyRoad]

When does GBTC go live?

I'm not sure if Barry himself even knows?

Is there a "Waiting for GBTC trading" meme yet ?