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fonsie
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April 28, 2015, 05:32:37 PM |
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some Chinese electricity company must surely realise soon that accepting and holding bitcoin would be a ridiculously successful strategy. Or is that banned?
Apart from the Chinese government's ban on using bitcoin as currency, the utilities (like all major merchants that "accept bitcoin", everywhere) will want to be paid in the national currency, promptly. They certainly do not want to invest in bitcoins; not even Overstock is doing that anymore. ASIC manufacturers and workers will want yuan, too. So the bitcoins corresponding to those expenses will have to be sold at the exchanges anyway. The Chinese government presumably would be happier if the miners sold their bitcoins in the "Western" exchanges, thus adding to the effective Chinese foreign trade balance. EDIT: Since we are on the topic, albeit off-topic: it was on news sites recently that some New England Mississippi electricity company is suing John Garza's GAWminers for a ~300'000 $ unpaid electricity bill. EDIT2: fixed Mississippi not New England. Last interview I heard with the CEO of Overstock, he said they still keep a percentage in BTC, so if you know otherwise, be kind and let us know the source... Or are you just trolling with lies? |
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Norway
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April 28, 2015, 05:33:54 PM |
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smart bears are waiting for double digits like I do.
you are not scaring anyone with fake bid walls and buys on illiquid exchanges.
The bid/ask walls are always a theatre. Don't base your trading on that. |
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fonsie
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April 28, 2015, 05:38:06 PM |
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smart bears are waiting for double digits like I do.
you are not scaring anyone with fake bid walls and buys on illiquid exchanges.
Every exchange is illiquid, that's why we've dropped so low. They all have fake bid walls, but more importantly they also have lots of fake ask walls. |
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ImI
Legendary
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Activity: 1946
Merit: 1019
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April 28, 2015, 05:43:18 PM |
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smart bears are waiting for double digits like I do.
you are not scaring anyone with fake bid walls and buys on illiquid exchanges.
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noobtrader
Legendary
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Activity: 1456
Merit: 1000
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April 28, 2015, 05:49:06 PM |
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smart bears are waiting for double digits like I do.
you are not scaring anyone with fake bid walls and buys on illiquid exchanges.
The bid/ask walls are always a theatre. Don't base your trading on that. agree, we have to consider more about the done transaction volume and price. thats more important imo |
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ChartBuddy
Legendary
Offline
Activity: 2240
Merit: 1779
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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April 28, 2015, 05:58:07 PM |
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fonsie
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April 28, 2015, 05:59:17 PM |
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some Chinese electricity company must surely realise soon that accepting and holding bitcoin would be a ridiculously successful strategy. Or is that banned?
Apart from the Chinese government's ban on using bitcoin as currency, the utilities (like all major merchants that "accept bitcoin", everywhere) will want to be paid in the national currency, promptly. They certainly do not want to invest in bitcoins; not even Overstock is doing that anymore. ASIC manufacturers and workers will want yuan, too. So the bitcoins corresponding to those expenses will have to be sold at the exchanges anyway. The Chinese government presumably would be happier if the miners sold their bitcoins in the "Western" exchanges, thus adding to the effective Chinese foreign trade balance. EDIT: Since we are on the topic, albeit off-topic: it was on news sites recently that some New England Mississippi electricity company is suing John Garza's GAWminers for a ~300'000 $ unpaid electricity bill. EDIT2: fixed Mississippi not New England. Last interview I heard with the CEO of Overstock, he said they still keep a percentage in BTC, so if you know otherwise, be kind and let us know the source... Or are you just trolling with lies? bitcoin internet token pyramid scheme at the shareholder meeting.Did you go to the shareholders meeting or can you provide your source for this? Or should I just believe you because you're still a Newbie? |
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Norway
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April 28, 2015, 06:00:33 PM |
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some Chinese electricity company must surely realise soon that accepting and holding bitcoin would be a ridiculously successful strategy. Or is that banned?
Apart from the Chinese government's ban on using bitcoin as currency, the utilities (like all major merchants that "accept bitcoin", everywhere) will want to be paid in the national currency, promptly. They certainly do not want to invest in bitcoins; not even Overstock is doing that anymore. ASIC manufacturers and workers will want yuan, too. So the bitcoins corresponding to those expenses will have to be sold at the exchanges anyway. The Chinese government presumably would be happier if the miners sold their bitcoins in the "Western" exchanges, thus adding to the effective Chinese foreign trade balance. EDIT: Since we are on the topic, albeit off-topic: it was on news sites recently that some New England Mississippi electricity company is suing John Garza's GAWminers for a ~300'000 $ unpaid electricity bill. EDIT2: fixed Mississippi not New England. Last interview I heard with the CEO of Overstock, he said they still keep a percentage in BTC, so if you know otherwise, be kind and let us know the source... Or are you just trolling with lies? bitcoin internet token pyramid scheme at the shareholder meeting.Another troll to the ignore list... |
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JorgeStolfi
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April 28, 2015, 06:09:07 PM |
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Last interview I heard with the CEO of Overstock, he said they still keep a percentage in BTC, so if you know otherwise, be kind and let us know the source...
SEC FORM 10-Q -REPORT For the quarterly period ended September 30, 2014At present we do not accept bitcoin payments directly, but use a third party vendor to accept bitcoin payments on our behalf. That third party vendor then immediately converts the bitcoin payments into U.S. dollars so that we receive payment for the product sold at the sales price in U.S. dollars. In the yearly report for 2014 they declare to hold bitcoins as an investment worth about 300'000$. For comparison, they hold about 10 M$ worth of precious metals and 180 M$ in "cash". In the transcript of the spoken presentation to shareholders, Patrick also gave some disappointing numbers about bitcoin sales. Basically they dropped fast after the first few months, and were all domestic (US). |
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fonsie
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April 28, 2015, 06:10:13 PM |
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some Chinese electricity company must surely realise soon that accepting and holding bitcoin would be a ridiculously successful strategy. Or is that banned?
Apart from the Chinese government's ban on using bitcoin as currency, the utilities (like all major merchants that "accept bitcoin", everywhere) will want to be paid in the national currency, promptly. They certainly do not want to invest in bitcoins; not even Overstock is doing that anymore. ASIC manufacturers and workers will want yuan, too. So the bitcoins corresponding to those expenses will have to be sold at the exchanges anyway. The Chinese government presumably would be happier if the miners sold their bitcoins in the "Western" exchanges, thus adding to the effective Chinese foreign trade balance. EDIT: Since we are on the topic, albeit off-topic: it was on news sites recently that some New England Mississippi electricity company is suing John Garza's GAWminers for a ~300'000 $ unpaid electricity bill. EDIT2: fixed Mississippi not New England. Last interview I heard with the CEO of Overstock, he said they still keep a percentage in BTC, so if you know otherwise, be kind and let us know the source... Or are you just trolling with lies? bitcoin internet token pyramid scheme at the shareholder meeting.Did you go to the shareholders meeting or can you provide your source for this? Or should I just believe you because you're still a Newbie? This is the common sense about how to run a company, now lets stop fantasizing and come back to the downtrend. Norway you must know that ignore the fact won't stop your money losing problem. Let me use my common sense. Back on ignore you troll... |
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Wandererfromthenorth
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April 28, 2015, 06:13:06 PM
Last edit: April 29, 2015, 07:39:10 AM by Wandererfromthenorth |
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By the way, don't expect any major move before the 7th-11th May, we are very probably gonna stay in the $210-$230 area until then.
THEN the big move either up or down.
Everything seems to paint a scary bearish picture so yeah, the real start of the next crash is a lot more probable than a breakout.
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fonsie
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April 28, 2015, 06:14:07 PM |
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Last interview I heard with the CEO of Overstock, he said they still keep a percentage in BTC, so if you know otherwise, be kind and let us know the source...
SEC FORM 10-Q -REPORT For the quarterly period ended September 30, 2014At present we do not accept bitcoin payments directly, but use a third party vendor to accept bitcoin payments on our behalf. That third party vendor then immediately converts the bitcoin payments into U.S. dollars so that we receive payment for the product sold at the sales price in U.S. dollars. In the yearly report for 2014 they declare to hold bitcoins as an investment worth about 300'000$. For comparison, they hold about 10 M$ worth of precious metals and 180 M$ in "cash". In the transcript of the spoken presentation to shareholders, Patrick also gave some disappointing numbers about bitcoin sales. Basically they dropped fast after the first few months, and were all domestic (US). Those seem some decent numbers given the small market cap of Bitcoin. So basically you've got nothing real to back your previous statement. |
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Norway
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April 28, 2015, 06:14:37 PM |
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By the way, don't expect any major move before the 7th-11th May, we are gonna stay in the $210-$225 area until then.
THEN the big move either up or down.
Everything seems to paint a scary bearish picture so yeah, the real start of the next crash is a lot more probable than a breakout.
Why those dates? (Don't tell me because lines on a history chart). |
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JorgeStolfi
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April 28, 2015, 06:15:52 PM |
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Let me use my common sense. Back on ignore you troll...
That's ironic (or pathetic), coming from an account that was created specifically to troll another user...  |
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Norway
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April 28, 2015, 06:18:30 PM |
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Let me use my common sense. Back on ignore you troll...
That's ironic (or pathetic), coming from an account that was created specifically to troll another user... Comming from you???  |
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Fatman3001
Legendary
Offline
Activity: 1526
Merit: 1013
Make Bitcoin glow with ENIAC
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April 28, 2015, 06:26:04 PM |
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Let me use my common sense. Back on ignore you troll...
That's ironic (or pathetic), coming from an account that was created specifically to troll another user... Comming from you??? lol! |
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JorgeStolfi
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April 28, 2015, 06:26:42 PM |
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Those seem some decent numbers given the small market cap of Bitcoin. So basically you've got nothing real to back your previous statement.
In their official report to the SEC it says clearly that in Q3 2014 they were no longer taking bitcoins; all their "bitcoin" sales were converted into cash by the payment processor. What more proof would you want? |
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fonsie
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April 28, 2015, 06:29:26 PM |
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Let me use my common sense. Back on ignore you troll...
That's ironic (or pathetic), coming from an account that was created specifically to troll another user... How is that different from why you made your account? |
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adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
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April 28, 2015, 06:33:09 PM |
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Let me use my common sense. Back on ignore you troll...
That's ironic (or pathetic), coming from an account that was created specifically to troll another user... Comming from you??? lol! BAhahahahaha oh this thread, always good for a lol. |
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Wandererfromthenorth
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April 28, 2015, 06:34:42 PM |
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By the way, don't expect any major move before the 7th-11th May, we are gonna stay in the $210-$225 area until then.
THEN the big move either up or down.
Everything seems to paint a scary bearish picture so yeah, the real start of the next crash is a lot more probable than a breakout.
Why those dates? (Don't tell me because lines on a history chart). I already timed the BTC markets in the past, nothing fancy or complicated to do. Others have done it too several times. The BTC markets can be more predictable than most people think. The start of the crash to $150: I gave you guys a no-brainer trade setup and told you when the big move was gonna come. I told you to buy the breakout if we break the big triangle up, short if we break the triangle down. Timing the BTC markets is easy as fuck Next big move should come in a few days (4-6 max)Wait for volume to confirm a breakout/breakdown. If big volume confirms a break in either direction, it should be a major move.  You don't need to guess beforehand. That's the point. You short the breakdown (if we go down) or you long the breakout (if we go up) when we exit the triangle trying to get the best fill. Only if volume confirms it though.
 The 2014 megapump from $450 to $680 was very easy to time with precision of days too. Too lazy to search that old post tho. |
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