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

[ChartBuddy]

Coin
Explanation

[GreekGeek]

I am bored

[NotLambchop]

handing that BTC to a payment processor (which also profits from the deal because not charity)

I don't know whether BitPay is profiting.  

IIRC, when they started, they offered merchants a free entry-level plan, that allowed only some small volume.  Merchants who exceeded that volume would have to upgrade to a plan with a monthly fee.  But at some time they dropped all fees.

Even if they are processing 200 million USD/year of e-payments, and taking a percentage of that somehow, their revenue must be only 3-4 million USD/year.  Their payroll alone must be more than that.  

Didn't they lay off some staff recently? Anyone remembers how much they paid for the Bitcoin Bowl?

So perhaps they are still operating at a loss, burning their venture capital, hoping for a substantial traffic increase.  Which, again, would explain why they are not releasing any meaningful numbers.

By "profit," I meant profit in the sense of the word as it is used by Bitcoiners--quick personal gain.
In other words, the founders/principals may be profiting through salaries, creative accounting, embezzlement, money laundering schemes, etc., etc.
So, while not strictly profitable in the old-school fiat sense, Bitcoin businesses could be tremendously profitable.  We simply need to start thinking outside the box

Good morning, gentlemen.

[aztecminer]

[NotLambchop]

What are the specific benefits to a customer of using bitcoin?

Say Amazon take bitcoin tomorrow, it would still be an extra step and an extra conversion charge for the general public to use bitcoins. Unless they got paid in bitcoin and they would be pretty sick now if their salary was set at the value of 1200$/b.

Buying things from overseas? it simplifies I guess. But you lose any protection.

Sending money to someone far away. Not an everyday thing for general p.

Imagine if you have fairly grown up kids, but not grown up enough that you want to let them loose on the net with a credit card, but old enough that the amount of internet purchases they make far exceeds what you want to have to deal with. Bitcoin.

Prepaid card.  

Imagine if you're a respectable mum or dad in a conservative neighborhood, but you just happen to love spending Sundays in your basement busting your whatever to german scheisse movies shooting crank and molesting children.  Bitcoin.

Always knew Bitcoin enthusiasts are degenerates.  FTFY.

Imagine that you found this marvelous doohickey that costs next to nothing on a site you don't trust. Bitcoin.

Lol, 0 protection.  Consider your coin gone.

Imagine if you have a cousin somewhere in Africa or Asia who needs to get out of the country ASAP because shit's going down, or simply suddenly ran into some economic dire straits. Bitcoin.

Happens to me every day.  I just tell them to stop running from problems & stay & fight.

Imagine.... use your imagination!

For crying out loud...

Now what?

[elasticband]

[LFC_Bitcoin]

Yes look at the massive movement.


Derp.

[NotHatinJustTrollin]

This time, 4 realz.

[bad trader]

Is the market stalling?

[fonsie]

What are the specific benefits to a customer of using bitcoin?

Say Amazon take bitcoin tomorrow, it would still be an extra step and an extra conversion charge for the general public to use bitcoins. Unless they got paid in bitcoin and they would be pretty sick now if their salary was set at the value of 1200$/b.

Buying things from overseas? it simplifies I guess. But you lose any protection.

Sending money to someone far away. Not an everyday thing for general p.

Why would I pay 25EUR a year just to have a creditcard, when I can also use bitcoin, wich is free?

When buying from respected places that "protection" isn't needed, besides where is the merchant his protection with shady customers?

Who pays to have a credit card? You might pay interest if you keep a balance (which is fair since you're borrowing money). but I've never paid one red cent simply for the right to have any credit card.

As for merchant protection, here's the thing: the customer spends the money, and the customer does not give a shit about merchant protection. The merchant can't stop selling his goods/services because he isn't as well protected, but the customer sure can stop spending his money with that merchant if they don't allow the customer to use payment methods that feel safest to the customer.

The world is bigger than your hometown. I have to pay an annual fee just to have one.

[NotLambchop]

^Try paying your bills--you'll get one 4 free

[Dump3er]

Ay Bulls, bearish divergence on 230!

230!!

Please go home, bulls! Ridiculous!

[fonsie]

^Try paying your bills--you'll get one 4 free

Get out of your house, you'll learn something about different places.

[ghandi]

ze fuck...bitstamp going nuts again

[NotLambchop]

^Try paying your bills--you'll get one 4 free

Get out of your house, you'll learn something about different places.

I used to enjoy slumming it in God-forsaken foregnies.  Where are you from, fake fonzie?  Might throw some change your way when I drop by to visit

[ChartBuddy]

Coin
Explanation

[aztecminer]

everyone... i do not believe this is going sub-200 again. every time it drops there is a huge battle.

[NotLambchop]

^
>drops

Not dropping, coiling like a cobra getting ready to strike

[Dump3er]

everyone... i do not believe this is going sub-200 again. every time it drops there is a huge battle.

lawl.

Very battle on such declining volume, so impressive.

[fonsie]

^Try paying your bills--you'll get one 4 free

Get out of your house, you'll learn something about different places.

I used to enjoy slumming it in God-forsaken foregnies.  Where are you from, fake fonzie?  Might throw some change your way when I drop by to visit

Thanks for the offer, but I don't need your change.