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

[tarmi]

yea, well...too bad it wont go higher.

It doesn't need to. Lots of fun to come in the 200-300 price range.

fun starts below 150.

[inca]

yea, well...too bad it wont go higher.

It doesn't need to. Lots of fun to come in the 200-300 price range.

fun starts below 150.

Fun starts when GBTC trades and we jump up again really testing shorters. Oh and you buy us up higher when you cover.

[tarmi]

yea, well...too bad it wont go higher.

It doesn't need to. Lots of fun to come in the 200-300 price range.

fun starts below 150.

Fun starts when GBTC trades

I am not giving a single fuck about some fund selling its shares. but you bulls are putting a lot of hopes in it. meaning...

[inca]

yea, well...too bad it wont go higher.

It doesn't need to. Lots of fun to come in the 200-300 price range.

fun starts below 150.

Fun starts when GBTC trades

that will be great time to sell.

 

[ChartBuddy]

Coin
Explanation

[JorgeStolfi]

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?

[8up]

We are building a rock-bottom here. I would actually be surprised if we see "more" than a flashcrash á la Silkroadcrash. Besides that, I am looking forward to further stabilization of the price. The track record shows almost 4 month in between 210 and 300. The longer the price stays in this range the better for the whole bitcoin economy.

[SkyValeey]

yea, well...too bad it wont go higher.

It doesn't need to. Lots of fun to come in the 200-300 price range.

fun starts below 150.

Fun starts when GBTC trades

I am not giving a single fuck about some fund selling its shares. but you bulls are putting a lot of hopes in it. meaning...

Bitcoin believers hates fiats and banksters and think that BTC is solution for fiat system but they love news about some banksters throwing cents into some BTC start-up.
Why? Beause bitcoiners think that price will rise and they'll earn some fiats LOL

What a fucking hipocrisy 

[tarmi]

Bitcoin believers hates fiats and banksters and think that BTC is solution for fiat system but they love news about some banksters throwing cents into some BTC start-up.
Why? Beause bitcoiners think that price will rise and they'll earn some fiats LOL

What a fucking hipocrisy 

you noticed that too?

dicks are hard around here when names like goldman sachs are mentioned.

[Norway]

yea, well...too bad it wont go higher.

It doesn't need to. Lots of fun to come in the 200-300 price range.

fun starts below 150.

Fun starts when GBTC trades and we jump up again really testing shorters. Oh and you buy us up higher when you cover.

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

[sAt0sHiFanClub]

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. 

[Fatman3001]

yea, well...too bad it wont go higher.

It doesn't need to. Lots of fun to come in the 200-300 price range.

fun starts below 150.

Fun starts when GBTC trades

I am not giving a single fuck about some fund selling its shares. but you bulls are putting a lot of hopes in it. meaning...

Bitcoin believers hates fiats and banksters and think that BTC is solution for fiat system but they love news about some banksters throwing cents into some BTC start-up.
Why? Beause bitcoiners think that price will rise and they'll earn some fiats LOL

What a fucking hipocrisy 

When skyvly starts fighting straw men that's when you know we're going up.

[Norway]

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. 

Good for you! I thought you were a bear, but appearently not 

[ChartBuddy]

Coin
Explanation

[Feri22]

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  

[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.

[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!