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

[hlynur]

I think the Shopify news is going to affect the price big time, and soon. I can picture frantic phone calls being made right now.

how big is shopify?

googled some statistics, they seem like one of the bigger players of e-commerce platforms.

Looks like a huge step for more mass adaption as web's global currency.
Now a lot of other similar services are in position to follow and not be left behind.

The bigger the potential spending capacity gets the more have to jump on the train no matter if they want it or not.

Bold prediction here: Amazon and Ebay will integrate btc during 2014! (wether via their own currency system or directly)

[gambitv]

395....

Are we ready for the flash - 1CRasHg6LfRiCbXZxKwjPRbc4Jsi8NZrg5 at 400 to shake out the weak hands.



Or perhaps we will go to the 1Moon3DvvYsYrVKP855PndDBHCGZFaCipE



Or maybe we just carry on like normal here on 1EaRtHam4y1mWGhTfRDH3cZ49WTvkbinot

[BitChick]

I think the Shopify news is going to affect the price big time, and soon. I can picture frantic phone calls being made right now.

how big is shopify?

googled some statistics, they seem like one of the bigger players of e-commerce platforms.

Looks like a huge step for more mass adaption as web's global currency.
Now a lot of other similar services are in position to follow and not be left behind.

The bigger the potential spending capacity gets the more have to jump on the train no matter if they want it or not.

Bold prediction here: Amazon and Ebay will integrate btc during 2014! (wether via their own currency system or directly)

I would think that Amazon and/or Ebay would need to follow Shopify to keep up for sure!  This is big news but I think it will have a trickle affect on the price and not a huge jump at first.  The Chinese are doing just fine with boosting the price for now anyways.  

[justusranvier]

I wonder if 2014 will be the year that we start to see Chinese exporters demanding bitcoins instead of dollars?

[rpietila]

I wonder if 2014 will be the year that we start to see Chinese exporters demanding bitcoins instead of dollars?

Every other country except China or Russia would be invaded for such bla$phemy...

...we live the most interesting of times 

[DougTanner]

5

[Pale Phoenix]

Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.

*edit*

and bitpay was also acting as an exchange, which is probably related to their recent shutting down.

Utter nonsense. You obviously don't know the first thing about FinCen regulations. Processing for the sale of goods is not a money transmission activity.

Also, Bitpay has not shut down. Wow.

[samson]

Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.

*edit*

and bitpay was also acting as an exchange, which is probably related to their recent shutting down.

Bitpay shut down ?

It seems to be working ok for me

[Walsoraj]

Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.

*edit*

and bitpay was also acting as an exchange, which is probably related to their recent shutting down.

Utter nonsense. You obviously don't know the first thing about FinCen regulations. Processing for the sale of goods is not a money transmission activity.

Also, Bitpay has not shut down. Wow.

Ok, then every single business that uses shopify must register w FINCEN and collect identifying docs like the exchanges. LOLOLOL.

[Walsoraj]

Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.

*edit*

and bitpay was also acting as an exchange, which is probably related to their recent shutting down.

Bitpay shut down ?

In the process of doing so, within 4 weeks. Lots of posts about this. Bitpay is silent on the matter. But im sure eventually it will come out they were acting as an exchange without registering.

READ THE FUCKING FINCEN GUIDENCE DOC! You cannot avoid being an "exchange" simply by calling yourself a payment processor. lololol

[Pale Phoenix]

Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.

*edit*

and bitpay was also acting as an exchange, which is probably related to their recent shutting down.

Bitpay shut down ?

In the process of doing so, within 4 weeks. Lots of posts about this. Bitpay is silent on the matter. But im sure eventually it will come out they were acting as an exchange without registering. READ THE FUCKING FINCEN GUIDENCE DOC!

I have read it and obtained legal counsel on the matter. You are incorrect but keep spreading misinformation if it suits your agenda.

[samson]

Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.

*edit*

and bitpay was also acting as an exchange, which is probably related to their recent shutting down.

Bitpay shut down ?

In the process of doing so, within 4 weeks. Lots of posts about this. Bitpay is silent on the matter. But im sure eventually it will come out they were acting as an exchange without registering.

READ THE FUCKING FINCEN GUIDENCE DOC! You cannot avoid being an "exchange" simply by calling yourself a payment processor. lololol

Interesting news - got any links ?

[justusranvier]

There is one enormous difference between now and April.

One of the major markets for bitcoin/fiat trading actually has a decent interface with their banking system.

Chinese exchange users can move funds between their bank accounts and exchange accounts as easily as they can transfer bitcoins.

[Walsoraj]

The bottom line is that if you are a BUSINESS accepting bitcoin, or you are a business converting or facilitating bitcoin transactions, then you must have a way of identifying the people whose bitcoin you are handling. So either Shopify needs to collect ID docs (or link to bank accounts), or all the merchants must do this.

[hlynur]

Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.

*edit*

and bitpay was also acting as an exchange, which is probably related to their recent shutting down.

Utter nonsense. You obviously don't know the first thing about FinCen regulations. Processing for the sale of goods is not a money transmission activity.

Also, Bitpay has not shut down. Wow.

Ok, then every single business that uses shopify must register w FINCEN and collect identifying docs like the exchanges. LOLOLOL.

isn't shopify located in canada.
I have no knowledge on this subject but do they even have to care about FINCEN when not located in US?

[phantastisch]

Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.

*edit*

and bitpay was also acting as an exchange, which is probably related to their recent shutting down.

Bitpay shut down ?

In the process of doing so, within 4 weeks. Lots of posts about this. Bitpay is silent on the matter. But im sure eventually it will come out they were acting as an exchange without registering.

READ THE FUCKING FINCEN GUIDENCE DOC! You cannot avoid being an "exchange" simply by calling yourself a payment processor. lololol

Interesting news - got any links ?

Not really interesting, as it comes from the same Walsoraj that just loads up his Fiat BTC - Cannon and shuts the price down up all the time.

[Walsoraj]

Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.

*edit*

and bitpay was also acting as an exchange, which is probably related to their recent shutting down.

Bitpay shut down ?

In the process of doing so, within 4 weeks. Lots of posts about this. Bitpay is silent on the matter. But im sure eventually it will come out they were acting as an exchange without registering. READ THE FUCKING FINCEN GUIDENCE DOC!

I have read it and obtained legal counsel on the matter. You are incorrect but keep spreading misinformation if it suits your agenda.

SO have I. The key that everyone is missing is the word "BUSINESS". Pretty much anybody who is running a business must register.

Ex)

-You give your neighbor bitcoin for his car. NO reg required.

-You give car dealership bitcoin for a car. DEALERSHIP MUST BE FINCEN COMPLIANT.

-You give third party payment processor bitcoin which is then xfered to neighbor (as btc or fiat) for car. PAYMENT PROCESSOR MUST BE FINCEN COMPLIANT.

Read the guidance, retards.

[Walsoraj]

Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.

*edit*

and bitpay was also acting as an exchange, which is probably related to their recent shutting down.

Utter nonsense. You obviously don't know the first thing about FinCen regulations. Processing for the sale of goods is not a money transmission activity.

Also, Bitpay has not shut down. Wow.

Ok, then every single business that uses shopify must register w FINCEN and collect identifying docs like the exchanges. LOLOLOL.

isn't shopify located in canada.
I have no knowledge on this subject but do they even have to care about FINCEN when not located in US?

yes if they are servicing US citizens, LOLOLOL.

[hlynur]

isn't shopify located in canada.
I have no knowledge on this subject but do they even have to care about FINCEN when not located in US?

yes if they are servicing US citizens, LOLOLOL.

yea on second thought sounds logical    (first morning coffee here)

[bclcjunkie]

don't pay attention he's been singing that "compliance" song ever since... nothing but fear mongering bear desperately waiting for cheap coins...

Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.

*edit*

and bitpay was also acting as an exchange, which is probably related to their recent shutting down.

Utter nonsense. You obviously don't know the first thing about FinCen regulations. Processing for the sale of goods is not a money transmission activity.

Also, Bitpay has not shut down. Wow.