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

[Auxi]

This price surge seems to be led by the Western exchanges, and must be due to the European VAT ruling.

Were there any countries where bitcoin trades were already paying VAT (or inhibited because of it)? In Sweden maybe? In the UK?

Norway 25%

http://curia.europa.eu/jcms/upload/docs/application/pdf/2015-10/cp150128en.pdf

[LMGTFY]

This price surge seems to be led by the Western exchanges, and must be due to the European VAT ruling.

Were there any countries where bitcoin trades were already paying VAT (or inhibited because of it)? In Sweden maybe? In the UK?

Not the UK. As much as it pains me to say this, the UK government tends to be fairly sensible when it comes to Bitcoin. The UK's banks - not so much.

[yolalanda]

^^^
Aren't most bitcoin exchanges registered in places like Uganda, Somalia and Uzbekistan anyhow? What's with all the hubbub?

[Fatman3001]

^^^
Aren't most bitcoin exchanges registered in places like Uganda, Somalia and Uzbekistan anyhow? What's with all the hubbub?

You're thinking of yellowcake.

[tarmi]

yolalanda is right. this story about eur vat is purely a coincidence. I mean bs coincidence. this move like any other in this market was orchestrated by institutional investors, whales.

just few hours before the move a newbie   actually posted here a thread here about price going 5~10 $ up because of it.  

uber-bullish and all, time to open more shorts.

[Fatman3001]

yolalanda is right. this story about eur vat is purely a coincidence. I mean bs coincidence. this move like any other in this market was orchestrated by institutional investors, whales.

just few hours before the move a newbie   actually posted here a thread here about price going 5~10 $ up because of it.  

uber-bullish and all, time to open more shorts.

It is confirmed then. Institutional investors are flocking to Bitcoin.

CCMF!!!

[yolalanda]

Norway 25%

So there are folks who actually pay exchange rate +25% when they buy bitcoin? And probably from convenient bitcoin ATMs charging an extra 19% on top of that?
Color me impressed

[tarmi]

institutional investor = more than 20 k of coins. that's not necessarily wall street level. in bitcoin world that's more like mom's basement level.  

[hdbuck]

institutional investor = more than 20 k of coins. that's not wall street level, but mom's basement.  

institutional investor already have the ~10 million coins that are not on internet exchanges.
no need pumping, just holding. bots and noobs do the rest.

[Elwar]

Norway 25%

So there are folks who actually pay exchange rate +25% when they buy bitcoin? And probably from convenient bitcoin ATMs charging an extra 19% on top of that?
Color me impressed

For localbitcoins I had some people driving 2 hours to trade with me because the people in their city were charging 20-25%. At the time I was only charging 15%. I've since lowered it to 10.

[yolalanda]

Norway 25%

So there are folks who actually pay exchange rate +25% when they buy bitcoin? And probably from convenient bitcoin ATMs charging an extra 19% on top of that?
Color me impressed

For localbitcoins I had some people driving 2 hours to trade with me because the people in their city were charging 20-25%. At the time I was only charging 15%. I've since lowered it to 10.

You're likely dealing with money launderers, or desperately lonely people willing to go to any length, use any pretext, just to interact with another human being.
I know this because there are bitcoin exchanges, charging fees substantially lower than yours, on the interweb.
P.S. Do they [also] pay VAT, or?

[spooderman]

can we please choo choo mother gentleman?


CCMG

[aztecminer]

what happened is greece about to default again ??

[tarmi]

institutional investor = more than 20 k of coins. that's not wall street level, but mom's basement.  

institutional investor already have the ~10 million coins that are not on internet exchanges.
no need pumping, just holding. bots and noobs do the rest.

those coins are just hoping and waiting for trillions of dollars to pour into...gemini?

if there were no need to pump, why would these judas swings (20 $ up, 50 down) take place every few months?

[billyjoeallen]

(Without some automatic and economically sound fee adjustment mechanism, a workaround would be to have a governing body like the international commission that defines and updates (by voting) the Metric System: with no legal power, but with effective moral power derived from competence and representativity.  But try telling that to the libertarians...)

What makes you think libertarians would object to that? Our problem is the initiation of force. Our core value is the NonAgression Principle. Obviously society needs order and structure. Obviously there needs to be rules. We just want those rules to be enforced by imposing opportunity costs and to reserve violence for defensive purposes only.  Nothing in your workaround violates that.

[findftp]

I was too early with selling the news a few days ago.
Now the EU VAT news is out, I'm happy to know we're going down again.

[ChartBuddy]

Coin

Explanation

[billyjoeallen]

yolalanda is right. this story about eur vat is purely a coincidence. I mean bs coincidence. this move like any other in this market was orchestrated by institutional investors, whales.

just few hours before the move a newbie   actually posted here a thread here about price going 5~10 $ up because of it.  

uber-bullish and all, time to open more shorts.

That's dangerous, IMHO. I'm not even considering opening shorts until the $290s, and maybe not even then. I might wait until the top is in and maybe I'll just keep collecting this 0.035% daily interest on my exchange fiat.

Short and long leverage on BFX is going down.  That doesn't indicate direction. it indicates lower volatility.

[Elwar]

Norway 25%

So there are folks who actually pay exchange rate +25% when they buy bitcoin? And probably from convenient bitcoin ATMs charging an extra 19% on top of that?
Color me impressed

For localbitcoins I had some people driving 2 hours to trade with me because the people in their city were charging 20-25%. At the time I was only charging 15%. I've since lowered it to 10.

You're likely dealing with money launderers, or desperately lonely people willing to go to any length, use any pretext, just to interact with another human being.
I know this because there are bitcoin exchanges, charging fees substantially lower than yours, on the interweb.
P.S. Do they [also] pay VAT, or?

I don't ask. The one guy who told me why was because he doesn't think his government should know every little thing he does with his money.

I actually paid 15% for 6k euros when I first arrived here because that was the only way I could get that many euros quickly. I needed it to buy a car.

[tarmi]

I'm not even considering opening shorts until the $290s, and maybe not even then.

yeah, everybody waiting for 290~300 to short this round means 300 probably won't happen. not to mention that there were no serious corrections in this run up. buyers getting exhausted.