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

[CoinHamster]

link to the EBA paper to read yourself (have not found that in this thread):
http://www.eba.europa.eu/documents/10180/657547/EBA-Op-2014-08+Opinion+on+Virtual+Currencies.pdf
 

[Bagatell]

and a reply from the Bitcoin Foundation.

And that raises a meta-issue lurking behind the EBA report: It was written over many months, of course, but it arrives in the wake of an EU election that signaled a rejection of Brussels’ “bureaucratic overreach,” as the New York Times put it last week.

This raises an important question: Will Europe—that is, the EU member states and their people—listen to this report from “Europe”—the EU bureaucracy? Or will they continue to work in a decentralized fashion on getting the benefits of Bitcoin while controlling the risks?

https://bitcoinfoundation.org/2014/07/04/will-europe-listen-to-europe/

[runam0k]

The EBA report is of almost no consequence right now.  Banks don't hold or sell bitcoins and why would we want them to?

Newsflash: using bitcoins does not require banks!  You only need a bank for your fiat money and the EBA report says very clearly that banks should not be disuaded from offering fiat current accounts to Bitcoin businesses.

[JayJuanGee]

Bye Bye Institutional Money  

http://www.coindesk.com/eba-financial-institutions-avoid-bitcoin-pending-regulation/

Will SEC follow EBA and reject Winkle's ETF  

no, the US is much more open-minded when it comes to innovation and new opportunities than europe

Yeah, right....     Is this a joke?

erm....no. the US is two,three steps ahead to europe when it comes to legalisation, regulation and law.

Probably the truth of this statement depends upon the type lf legislation that you are discussing, and the devil is in the details .  Surely, also, there are differences between the two; however, such differences should NOT cause one to conclude that the US is some bastion of progressiveness and acceptance.  In other words, I believe the circumstances surrounding bitcoin are much too complex to make general statements regarding the US as compared with the EU and to suggest that the US is going to be less hostile to bitcoin.

[ChartBuddy]

Explanation

[Patel]

bear logic: I'm going to sell now and buy back when the EU has some clear rules for banks buying massive amounts of bitcoins.

bull logic: I am going to buy as much as I can Next month we will hit $800 with no problem!

hodlers logic: I am going to hodl until moon

[CoinHamster]

The EBA report is of almost no consequence right now.  Banks don't hold or sell bitcoins and why would we want them to?

Newsflash: using bitcoins does not require banks!  You only need a bank for your fiat money and the EBA report says very clearly that banks should not be disuaded from offering fiat current accounts to Bitcoin businesses.

the EBA report is a promotion paper of the EBA, that there is a lot of work to be done in regulation, that it will cost a lot of money and manpower to be done and that it is suggestest to be done because the EBA says, bitcoin is, after checking bei the EBA, to be regulated, because of the risks that are bigger than the advantages... - so please give us the task/money/manpower to do the paperwork.
 

[adamstgBit]

bear logic: I'm going to sell now and buy back when the EU has some clear rules for banks buying massive amounts of bitcoins.

bull logic: I am going to buy as much as I can Next month we will hit $800 with no problem!

hodlers logic: I am going to hodl until moon

adam logic: if 1 million poeple buy 12$ worth of bitcoin all at once, bears are DOOMED!

[aminorex]

I hate

Now I feel polluted for having read your post.

Your puerile contempt means squat.  Try facts and sound reasoning next time.

[ChartBuddy]

Explanation

[aminorex]

ye well, first it was China, then Russian, now EU.

USA is next ?

I welcome all government restrictions. Reminds people to not tell how many coins they have.

It is not likee they don't have the means to find out anyhow

[Peter R]

...try using http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html

God, I hate that site. Right at the center of the snake oil infrastructure of Bitcoin.

This entire circlejerk about the 200 Trillion Coin is so intellectually lazy and deceiving, I personally believe it to be the least ethical side of Bitcoin as a social phenomenon. Yes. Worse than Mtgox, SR and Leah McGrath's doxing of an old dude who had nothing to do with Bitcoin.

Oda, can you explain this comment in more detail? 

[Davyd05]

http://www.eba.europa.eu/documents/10180/657547/EBA-Op-2014-08+Opinion+on+Virtual+Currencies.pdf reddit fud

however seems like a good read on what the EBA thinks of Bitcoin

[Tzupy]

...
adam logic: if 1 million poeple buy 12$ worth of bitcoin all at once, bears are DOOMED!

I don't think so. A 12M$ sudden buy spread over all exchanges may secure the uptrend and repel the fear of capitulation.
Or maybe not: from the 25th May it took a 12M$ increase in $ swaps on BFX to raise above 600$ and sustain this range.

[shmadz]

Perhaps some soothing music to calm frayed nerves?

https://www.youtube.com/watch?v=WMQg546agpU

 

[dreamspark]

ye well, first it was China, then Russian, now EU.

USA is next ?

I welcome all government restrictions. Reminds people to not tell how many coins they have.

It is not likee they don't have the means to find out anyhow

Precisely why a completely anon currency will be so vital

[Taxidermista]

ye well, first it was China, then Russian, now EU.

USA is next ?

I welcome all government restrictions. Reminds people to not tell how many coins they have.

It is not likee they don't have the means to find out anyhow

Sure, an army of mediums.

[hodl_2015]

EBA is a post 2008 crisis institution. You could read more here : http://en.wikipedia.org/wiki/European_Banking_Authority

If I read it correctly, the purpose of the EBA was to mandate regulations, to prevent that banks needed to compete with cheaper banks in countries with less regulations. They would have named it European Banking Cartel, but then even the name would have been almost the same as the ECB :-)
It's these guys job to discourage bitcoin, I don't know what took them this long.

[keithers]

Funny btw how nobody cares anymore about the biggest event this year that completely controlled the market for 2 weeks: the price of the sold coins.
100's of posts. It was the most important thing ever. It was the only thing people talked about.
3 days later and nobody gives a shit anymore.

I think its because at the end of the day, the thing that most people care about is the price per BTC. If it would have massively changed the price (positively or negatively), then everyone would still be talking about it. The attention span for events in the crypto world is super short obv.

Happy 4th of July everyone!!

[ImI]

Funny btw how nobody cares anymore about the biggest event this year that completely controlled the market for 2 weeks: the price of the sold coins.
100's of posts. It was the most important thing ever. It was the only thing people talked about.
3 days later and nobody gives a shit anymore.

I think its because at the end of the day, the thing that most people care about is the price per BTC. If it would have massively changed the price (positively or negatively), then everyone would still be talking about it. The attention span for events in the crypto world is super short obv.

Happy 4th of July everyone!!

reason is pretty simple imo. we won't get any price details anytime soon. so its basically a non-event. of course there are good signs like one bidder got it all, but in the end its now just a non-event.