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

[empowering]

Yes you called the question stupid, and no you did not understand it. If "you pay USD go USD to BTC to buy", as the poster suggested, how do you send USD to Coinbase/exchange/Bitpay/whatever?

I go to Dell's website, and I choose to pay with bitcoins from my blockchain wallet, no?

See why I would rather not buy bitcoin?  Exposure to the stuff ruins one's vision so that even the simplest stupid question becomes utterly incomprehensible, even if repeated in boldface -- if the answer turns out to be inconvenient.  

Yes, Jorge.  Most of us here realize that you are a troll, and that is why you frequently ask such stupid questions and make such unimportant comments.

There is NOTHING inconvenient about the answer to your question, except that you should be able to figure it out yourself if you were more involved in buying and selling bitcoins.  Instead, you claim to have NOT purchased any through any service.

There are a variety of ways to acquire bitcoins by wiring money or by handing cash to someone or by mining or by earning them through a service or sales of a product.  Once you have the bitcoin(s), then you can use them to acquire Dell products or services (Dell chooses whether or NOT it wants to convert back to fiat and/or when to convert back to fiat, if it is going to convert).

Most importantly also the magical unicorn method for sending USD- I think this is the answer Jorge deserved for this simple question- hence that is why I gave that answer to start with.... y'know what they say "ask a stupid question, expect a stupid answer"

[ejinte]

the important point is that  turning USD into bitcoin requires a bank transfer (BT) of some sort. (Out of curiosity, are there exchanges that accept credit card?).

Well,  [ ... ] there are other ways to obtain bitcoins that don't involve a BT.   Just to name a few: localbitcoin (peer to peer exchange), ATM (Robocoin/Lamassu), mining (as unfeasible or expensive it may seem, it's still a valid method), donations (remember the "Hi mom, send bitcoin here" sign a few months ago?), or even salary (yes, there are employers who offer this opportunity to their employees).

The ATM is another layer between you and the banks.  Namely, the cash is deposited into the ATM company's bank account, and transfered to the bank account of some exchange in order to buy moer bitcoins.  The fee of that BT is included in the ATM fee.

Granted that there need not be any BT for localbitcoin transactions that are paid in cash; but  that requires meeting the BTC seller in person, which is not the most convenient thing in the world.  (I read an amusing tale of such a transaction, somewhere on this forum, that took several hours and ended with the buyer feeling obliged to help the seller load some heavy furniture onto a truck.)

Mining and donations would fall into the cases of "have BTC", rather than "have USD".
..............
In general, payment from USD in your bank to USD in the merchant's bank via bitcoin cannot be cheaper than paying directly in USD, since the latter is just one BT, the former is two BTs and other stuff in the middle. The bitcoin path may seem to be cheaper only because the second BT is hidden in the Coinbase fee, and the first BT is paid beforehand and thus does not feel like it is part of the payment.

Actually this is true. But can you pay with dollar bills straight to dell? No not on their website, obviously. You must have a bank account together with a card. And for that it will be fees. Also if you would like to move your USD around the world it will be fees and lots of restrictions. Bitcoin is free!!!

[hyphymikey]

3d MACD divergence turned red on all exchanges, for the first time since May.

Good. I'm still waiting for a 1W to be red.

[bucktotal]

Cavirtex with crazy spikes.

Show the volume 

this is bug and i think its in bitcoinwisdom.com

it appears that those spikes are not due to orders going through - that is, sell orders are not being filled when those spikes happen.

[Erdogan]

Jorge, what is so fantastic about reals? To buy a dell computer, they either have to be converted to usd by you, or by dell just after the trade. If you buy locally, the local merchant has the same two options.

In a world with different types of money, you just have to convert sometimes. That's why we need Keynes' bancor. (joke).

[WillyBTC]

I got all excited this morning thinking we were gonna break through..... false alarm.

[empowering]

3d MACD divergence turned red on all exchanges, for the first time since May.

Good. I'm still waiting for a 1W to be red.

Is that because you are short BTC/bearish or because you are looking for the MACD to uncross the otherway again, before a bump up?  

[ChartBuddy]

Explanation

[Frapparpeles]

After the GOX collapse, anyone with fiat or Bitcoins on any exchange has balls of steel. Gox did a lot of harm, and it will take time to recover.

This is why we are seeing so little volume in general, no selling and no buying, sorry but no more bubbles until 2015...

True, but what could possibly happen in 2015 to change this? Are you implying we'll have a trusteable exchange? What constitutes a trusteable exchange? Of course anything is more trusteable than some manchild that used to play Magic the Gathering, but im just saying, what would the ideal scenareo be on there?

If the Bit Licences actually turn out to work we might see exchanges in a 'trusted' New York surrounding for example. Maybe even in the vicinity of Starbucks stores!

[empowering]

After the GOX collapse, anyone with fiat or Bitcoins on any exchange has balls of steel. Gox did a lot of harm, and it will take time to recover.

This is why we are seeing so little volume in general, no selling and no buying, sorry but no more bubbles until 2015...

True, but what could possibly happen in 2015 to change this? Are you implying we'll have a trusteable exchange? What constitutes a trusteable exchange? Of course anything is more trusteable than some manchild that used to play Magic the Gathering, but im just saying, what would the ideal scenareo be on there?

If the Bit Licences actually turn out to work we might see exchanges in a 'trusted' New York surrounding for example. Maybe even in the vicinity of Starbucks stores!

They do large, dessert-like coffees?

[ElectricMucus]

After the GOX collapse, anyone with fiat or Bitcoins on any exchange has balls of steel. Gox did a lot of harm, and it will take time to recover.

This is why we are seeing so little volume in general, no selling and no buying, sorry but no more bubbles until 2015...

True, but what could possibly happen in 2015 to change this? Are you implying we'll have a trusteable exchange? What constitutes a trusteable exchange? Of course anything is more trusteable than some manchild that used to play Magic the Gathering, but im just saying, what would the ideal scenareo be on there?

If the Bit Licences actually turn out to work we might see exchanges in a 'trusted' New York surrounding for example. Maybe even in the vicinity of Starbucks stores!

They do large, dessert-like coffees?

... except I expect your table leaves less censored and more hanging out.

It's not "hanging," but yes.
Why such interest in my coffee table btw?

Due to the popularity of Rassah's coffee table, I opted to start it's own thread for all to discuss their obsessions with her table.

OK, GO!

[Frapparpeles]

After the GOX collapse, anyone with fiat or Bitcoins on any exchange has balls of steel. Gox did a lot of harm, and it will take time to recover.

This is why we are seeing so little volume in general, no selling and no buying, sorry but no more bubbles until 2015...

True, but what could possibly happen in 2015 to change this? Are you implying we'll have a trusteable exchange? What constitutes a trusteable exchange? Of course anything is more trusteable than some manchild that used to play Magic the Gathering, but im just saying, what would the ideal scenareo be on there?

If the Bit Licences actually turn out to work we might see exchanges in a 'trusted' New York surrounding for example. Maybe even in the vicinity of Starbucks stores!

They do large, dessert-like coffees?

Yes, yes! I hope so. Love them! 

[JorgeStolfi]

Most importantly also the magical unicorn method for sending USD- I think this is the answer Jorge deserved for this simple question- hence that is why I gave that answer to start with.... y'know what they say "ask a stupid question, expect a stupid answer"

But, have you checked how expensive is to rent a magical unicorn these days?   

[harlenadler]

Anyone notice this short term divergence in price between Huobi and BFX? What's up with that?

[empowering]

Most importantly also the magical unicorn method for sending USD- I think this is the answer Jorge deserved for this simple question- hence that is why I gave that answer to start with.... y'know what they say "ask a stupid question, expect a stupid answer"

But, have you checked how expensive is to rent a magical unicorn these days?   

Well that gets a bit complicated, because they do not accept BTC directly (yet,  but when they do, I tell you that will be Bullish CCMF etc) , so I have to use pesky blood sodden fiat, and to get the fiat to the Unicorn exchange is a real palava... and the commision is a killer....  but hey what can you do....  also last time they sent me a bloody rhinoceros,  getting the refund was a real pain...

[hdbuck]

Most importantly also the magical unicorn method for sending USD- I think this is the answer Jorge deserved for this simple question- hence that is why I gave that answer to start with.... y'know what they say "ask a stupid question, expect a stupid answer"

But, have you checked how expensive is to rent a magical unicorn these days?  

why even respond to such comment? you seem to have a lot of time to waste for an academic attention seeker. hum.

[empowering]

Most importantly also the magical unicorn method for sending USD- I think this is the answer Jorge deserved for this simple question- hence that is why I gave that answer to start with.... y'know what they say "ask a stupid question, expect a stupid answer"

But, have you checked how expensive is to rent a magical unicorn these days?  

why even respond to such comment? you seem to have a lot of time to waste for an academic attention seeker. hum.

Think the word is banter... and I generally have time for everyone, that is just how I am... and I am not sure if you noticed... but my answer was hardly
serious.....

As for too much time to waste... maybe you are right there...  true for most who post  

(edit)  Sorry if your post was asking Jorge why he bothered to answer my statement- my bad if so... at a guess since I would be answering for Jorge  I would guess the answer would be banter, or he wanted to give a reciprocal stupid answer.

Also I must say it is a little bit of a pot kettle black situaiton for you to spend the time posting asking someone else why they wasted time posting in response to something someone else posted which you think is daft? surely that is just compounding the situation? sounds like you may have a fair bit of spare time also  (Banter)

All the best.

 

[Newbie1022]

There is already more juice in the bid side on Stamp than the ask side. On Bitfinex, there is an opposite asymmetry as people are trying to catch a flash crash. Once people stop screwing around with the flash crash hope of getting uber cheap coins, might we get a hearty bump? (at least a 20-30 pointer)?

[ChartBuddy]

Explanation

[JorgeStolfi]

But can you pay with dollar bills straight to dell? No not on their website, obviously. You must have a bank account together with a card. And for that it will be fees. [ ... ] Bitcoin is free!!!

You can pay Dell with bank transfer (they say "if you are ordering by phone or email", I don't know why not also when ordering via website too).   

But you are missing the point, it seems.  The question was whether merchants "accepting bitcoin" through Coinbase or BitPay are creating demand for bitcoin in the market (and thus contributing to raise the price); or, conversely, they increasing the supply (and thus lowering the price).

For people who have USD and no BTC, the bitcoin payment option offers no significant advantage over payment by direct USD bank transfer, since they would have to pay bank fees (and more) anyway.  Therefore those  "merchant adoptions" are not likely to motivate people to buy BTC.

On the other hand, those options are advantageous to people who own old coins, that were bought below market, because they provide a way to take their profits that saves some fees compared to selling the BTC at an exchange and then spending the USD.

Also if you would like to move your USD around the world it will be fees and lots of restrictions.

I noted that the bitcoin option could be interesting for international payments.  However, Coinbase and Bitpay generally do not work across borders (not in the case of Dell, for example), so the point above remains.