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massivebitman (OP)
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April 30, 2013, 11:35:57 PM
Last edit: May 01, 2013, 09:09:04 AM by massivebitman |
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https://bitcoinatm.com/Bitcoin atms are being launched on the 2nd I think this is a fantastic service and great for the long term of bitcoin. My question is, what impact do you think this will have on the short term price? Presumably a few people sticking a $100 in isn't going to do much, nor could people get out amounts large enough to make a big dent, so the question becomes how will the press & speculators see it? In my opinion this is the most exciting innovation to happen to bitcoin yet, do you reckon it'll get the press coverage it deserves? Cyprus is in trouble again, while I think people are a lot more cautious since the last bubble, it seems we have much stronger factors in place now for an angry dog run.
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massivebitman (OP)
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May 01, 2013, 09:11:30 AM |
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I'm surprised to see the price dipping so much so close to the release.
I think we really are in for an angry dog run. I wish I could send more money to Gox right now.
What's worse is I had an order set at 134, but I panicked and bought at 144 never saw this coming, ah well nothing to do but wait.
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notme
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May 01, 2013, 09:22:23 AM |
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Still too much underlying volatility for a decisive move. We may get wild swings though if someone tries to pick a direction.
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farfiman
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May 01, 2013, 09:23:08 AM |
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Although this is a great step , I don't think this will have a big effect immediately.
This kind of news used to move the market more because there wasn't that much.
There are so many things happening now in bitcoin land that this is just one more.
If it gets more attention from the media and bitcoin ATM's pop up all over- now that could do it.
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"We are just fools. We insanely believe that we can replace one politician with another and something will really change. The ONLY possible way to achieve change is to change the very system of how government functions. Until we are prepared to do that, suck it up for your future belongs to the madness and corruption of politicians."
Martin Armstrong
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capsqrl
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May 01, 2013, 09:24:01 AM |
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What's an angry dog run? The first google hit for me is this very thread.
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ronaldlee0917
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May 01, 2013, 09:28:25 AM |
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I think it will help slightly, maybe we will reach 140 again, but 160 I dont think so
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w00t
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May 01, 2013, 10:48:30 AM |
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What's an angry dog run? The first google hit for me is this very thread.
+1 as a non-native speaker I have trouble decoding it  maybe some sort of FUD? |
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massivebitman (OP)
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May 01, 2013, 12:30:54 PM |
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What's an angry dog run? The first google hit for me is this very thread.
+1 as a non-native speaker I have trouble decoding it maybe some sort of FUD? Haha.. I'm glad someone picked up on it. I made it up, why should dead cats get all the fun? Angry dog run: Where the price runs away like an angry dog playing fetch. That is the price shoots up hard, and comes back almost as quickly |
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Wuji
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May 01, 2013, 12:48:57 PM |
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Another misleading thread on the same story? The ATM's are going to be shown today to a select group of people that they are working and are not "released" anywhere yet. This isn't news because another company did the same thing in February. http://news.cnet.com/8301-13578_3-57570925-38/need-bitcoins-this-atm-takes-dollars-and-funds-your-account/No company has mentioned their plans to deal with each Nations and localities regulations and currency exchange. There are also other issues that must be dealt with before there are usable machines available to the public. If it happens great but, until an average joe can put cash in one and get a BTC receipt it is still speculation. The presentation in February seems to correlate to an increase in price. However since this isn't more news just more competition trying to get to market I'm not sure how much impact it will have. |
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massivebitman (OP)
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May 01, 2013, 01:20:48 PM |
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Hmm that other companies ATM machine looks shit though... At least the guy leading this one has been on TV a couple of times. |
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farfiman
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May 01, 2013, 01:22:26 PM |
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Another misleading thread on the same story? The ATM's are going to be shown today to a select group of people that they are working and are not "released" anywhere yet. This isn't news because another company did the same thing in February. http://news.cnet.com/8301-13578_3-57570925-38/need-bitcoins-this-atm-takes-dollars-and-funds-your-account/No company has mentioned their plans to deal with each Nations and localities regulations and currency exchange. There are also other issues that must be dealt with before there are usable machines available to the public. If it happens great but, until an average joe can put cash in one and get a BTC receipt it is still speculation. The presentation in February seems to correlate to an increase in price. However since this isn't more news just more competition trying to get to market I'm not sure how much impact it will have. That one looks more like a hobbyist attempt- although neat- doesn't look serious and maybe for a few sales in a bar it's ok. This new ATM look s like the real deal- ( we dont yet know if it's the real deal or just a bunch of shiny plastic. Still I don't think it will have any impact as yet. |
"We are just fools. We insanely believe that we can replace one politician with another and something will really change. The ONLY possible way to achieve change is to change the very system of how government functions. Until we are prepared to do that, suck it up for your future belongs to the madness and corruption of politicians."
Martin Armstrong
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massivebitman (OP)
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May 01, 2013, 01:56:49 PM |
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Another misleading thread on the same story? The ATM's are going to be shown today to a select group of people that they are working and are not "released" anywhere yet. This isn't news because another company did the same thing in February. http://news.cnet.com/8301-13578_3-57570925-38/need-bitcoins-this-atm-takes-dollars-and-funds-your-account/No company has mentioned their plans to deal with each Nations and localities regulations and currency exchange. There are also other issues that must be dealt with before there are usable machines available to the public. If it happens great but, until an average joe can put cash in one and get a BTC receipt it is still speculation. The presentation in February seems to correlate to an increase in price. However since this isn't more news just more competition trying to get to market I'm not sure how much impact it will have. That one looks more like a hobbyist attempt- although neat- doesn't look serious and maybe for a few sales in a bar it's ok. This new ATM look s like the real deal- ( we dont yet know if it's the real deal or just a bunch of shiny plastic. Still I don't think it will have any impact as yet. I agree that the ATM itself won't have any impact.. It's just an ATM. However, if it turns out that it's not just shiny plastic, I think it'll have a big impact on the price. It legitimises bitcoin and makes it accessible, I'm sure the speculators will appreciate that. A few of these ATM's deployed in economically sketchy Europe, and it could be the start of a new trend. |
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GigaCoin
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Giga
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May 01, 2013, 02:01:33 PM
Last edit: May 01, 2013, 02:17:50 PM by GigaCoin |
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This is an important event but I don't think this is a major one, since its a small event to showcase the technology, however the outcome is simple to predict me thinks, if mainstream media (Cnn, bbc, bloomberg, etc) covers it as an important event = price up , if mainstream media ignores the event as if it never happened = then no price change or whatever trend happening right now (seems to be trending downwards) will continue.
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massivebitman (OP)
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May 01, 2013, 02:07:49 PM |
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This is an important event but I don't think this is a major one, since its a small event to showcase the technology, however the outcome is simple to predict me thinks, if mainstream media (Cnn, bbc, bloomberg, etc) covers it as an important event = price up , if mainstream media ignores the event as if it never happened, this no price change or whatever trend happening right now (seems to be trending downwards) will continue.
Well I guess we'll have to wait and see. It's certainly good for the long term view. Oh well, off to bed now, guess I'll have to see how much money I've lost in the morning. All these red arrows makes me want to sell, but I can't because I'd be selling at a loss. Actually I don't want to sell that much $130 seems like a good price, I just bought in too high |
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Wuji
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May 01, 2013, 02:47:26 PM |
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Hmm that other companies ATM machine looks shit though... At least the guy leading this one has been on TV a couple of times. The first one looks like something you would expect to be installed in stores that have heavy doors like maybe at the cash register at Walmart. The new one looks like a more traditonal ATM for a gas stations near the window or on the street. You could say a credit card swiper by comparison looks like shit but it gets the job done and every single store in my city has them. My point is the first device is valid and has been around now for 3 months. It was shown to be fully working and yet I don't know of any place that has taken the risk of installing one. Until regulation and other issues are dealt with, the money could be confiscated by the fed reserve, US Mint, or even secret service (This is only the US Federal, each state, city and other nations has it's own loopholes). Fincen only addressed money laundering and there is no green light on deregulation thus far as "legal tender" from other agencies. This would require an act of Congress and not Fincen. I'm just trying to keep things realistic with facts in how much I diversify into Bitcoin. It is wonderful to be irrationally exuberant and help Bitcoin buy pumping your money in. I just personally prefer to stick to facts and fundamentals because I'm not a high risk investor. If anyone has a majority of holding or life savings in Bitcoin and thinks there is no risks, well my heart goes out to you and I hope your gamble pays off. |
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hellscabane
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May 01, 2013, 04:06:36 PM |
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I also think that this is great (both long-term and in the mid-term), but I don't see a huge influx of money anytime soon. I think that there would have to be a significant amount of these around before there is a serious impact on the Bitcoin economy. But just the news about this will bring some extra buzz about Bitcoins and it will bump up the price a little. After though, it'll be business like usual (although, business as usual is unusual itself).
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