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

[Richy_T]

What's scary on the paper wallet (preferably encrypted using BIP0038)?

It's not the tech, it's trusting it to paper and/or USB. They just seem too fragile. Not just in the physical sense either.

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[mb300sd]

Coinbase: Allow verified/instant users to spend bitcoin directly from their bank accounts/credit cards. Be the PayPal replacement!

[N12]

What's scary on the paper wallet (preferably encrypted using BIP0038)?

It's not the tech, it's trusting it to paper and/or USB. They just seem too fragile. Not just in the physical sense either.

I know that well. I think something like Trezor is probably best. Hopefully, that will soon be available for non-ridiculous prices.

[Richy_T]

What's scary on the paper wallet (preferably encrypted using BIP0038)?

Paper wallets can be tricky. I think your most secure option is to use Armory with the cold storage option explained on the Armory site.

One thing that makes me a little uncomfortable about armory is that you are working with an armory wallet seed and not the actual private key. Almost I'd rather work with the paper wallet generator webpage (name slips my mind).

Edit: bitaddress.org

[BitChick]

Choo choo, all the overstock coins will soon hit the market.

An overstock of coins.

We should all buy something on Overstock so the CEO can gloat about how successful it is to take BTC! 

[N12]

Sorry, I would much rather buy fake virtual credit points for a fake farm game.

[Mythul]

[bambou]

Choo choo, all the overstock coins will soon hit the market.

An overstock of coins.

you really think they will directly sell 100% of the coins they get?!
imho they decided to jump in the bitcoin train not only to expand their marketshare, but also to make even more profit hodling some of it.. I mean, isnt that all about profit after all?

[damiano]

CHOOOOO-CHOOOOO: OVERSTOCK WENT LIVE !

That is not bullish. Overstock has nothing to do with bitcoin.
They simply use bitpay and accept fiat  

Bitpay sells the coins asap -» Selling pressure

Being able to spend bitcoins is always a good sign.

[niothor]

Sorry, I would much rather buy fake virtual credit points for a fake farm game.

Blitz , you're usually "a bear" with arguments but right now you're overdoing it.

[pietje]

CHOOOOO-CHOOOOO: OVERSTOCK WENT LIVE !

That is not bullish. Overstock has nothing to do with bitcoin.
They simply use bitpay and accept fiat  

Bitpay sells the coins asap -» Selling pressure

Being able to spend bitcoins is always a good sign.

I agree. The more spending options the better the adoption the more people join in on bitcoin.
Charts do look a bit bearish atm.

[Adrian-x]

CHOOOOO-CHOOOOO: OVERSTOCK WENT LIVE !

That is not bullish. Overstock has nothing to do with bitcoin.
They simply use bitpay and accept fiat  

Bitpay sells the coins asap -» Selling pressure

The last time a yellow Lamborghini sold through Bitpay, the dump of coins crashed the market.
How were the coins disperse for the Virgin Atlantic flight?

[gentlemand]

216 coins crashed the market? Are you sure?

[N12]

Choo choo, all the overstock coins will soon hit the market.

An overstock of coins.

you really think they will directly sell 100% of the coins they get?!
imho they decided to jump in the bitcoin train not only to expand their marketshare, but also to make even more profit hodling some of it.. I mean, isnt that all about profit after all?

I'm not sure you understand how this works: They do not accept Bitcoins directly. They use a payment processor called Bitpay that guarantees them USD, and Bitpay of course sells them on the open market.

edit: Coinbase then, but same principle applies.

[Walsoraj]

So, actually using bitcoins for anything other than pure speculation causes even more volatility and the price to go down.

 

[granathus]

Choo choo, all the overstock coins will soon hit the market.

An overstock of coins.

you really think they will directly sell 100% of the coins they get?!
imho they decided to jump in the bitcoin train not only to expand their marketshare, but also to make even more profit hodling some of it.. I mean, isnt that all about profit after all?

I'm not sure you understand how this works: They do not accept Bitcoins directly. They use a payment processor called Bitpay that guarantees them USD, and Bitpay of course sells them on the open market.

They use Coinbase.

[adamstgBit]

CHOOOOO-CHOOOOO: OVERSTOCK WENT LIVE !

That is not bullish. Overstock has nothing to do with bitcoin.
They simply use bitpay and accept fiat  

Bitpay sells the coins asap -» Selling pressure

but it increases bitcoins usefulness, and this brings up the value.

now i can save AND spend with BTC, these days you can pretty much live on BTC without any problems. how far we've come in so little time.

[Walsoraj]

Choo choo, all the overstock coins will soon hit the market.

An overstock of coins.

you really think they will directly sell 100% of the coins they get?!
imho they decided to jump in the bitcoin train not only to expand their marketshare, but also to make even more profit hodling some of it.. I mean, isnt that all about profit after all?

I'm not sure you understand how this works: They do not accept Bitcoins directly. They use a payment processor called Bitpay that guarantees them USD, and Bitpay of course sells them on the open market.

They use Coinbase.

What is coinbase? You moron.

[Chalkbot]

Choo choo, all the overstock coins will soon hit the market.

An overstock of coins.

you really think they will directly sell 100% of the coins they get?!
imho they decided to jump in the bitcoin train not only to expand their marketshare, but also to make even more profit hodling some of it.. I mean, isnt that all about profit after all?

I'm not sure you understand how this works: They do not accept Bitcoins directly. They use a payment processor called Bitpay that guarantees them USD, and Bitpay of course sells them on the open market.

edit: Coinbase then, but same principle applies.

Are you sure about this? In the original announcement it sounded like they wanted to make their own payment processing system in-house, to avoid the market dump effect and the fees.

[Adrian-x]

216 coins crashed the market? Are you sure?

Call it good timing (correlation doesn't = causation)