Bitcoin will VERY HARD resistance leaving $100

[bb999]

No one pays attention to the decimal places, yet.

Based on what?  All I see is an opinion with nothing to back it up.

[bitpop]

Technical analysis is all opinion

[weaknesswaran]

It seems plausible they keep stopping at $100 and it's bitpay, do they really care? They could be trying to buy cheap. Great position to be a manipulator.

Does bitpay have enough fiat money to keep all most of earned btc waiting for a better price in the future?

[bitpop]

I don't think bitpay has millions of dollars. And I doubt they want to mess with other people's money. It would be shady exchanging it themself as they can find the "lowest" price to sell at. Selling at an exchange keeps it official. They sell the same day and wire it. They can keep their cut in btc though.

[notme]

I don't think bitpay has millions of dollars. And I doubt they want to mess with other people's money. It would be shady exchanging it themself as they can find the "lowest" price to sell at. Selling at an exchange keeps it official. They sell the same day and wire it. They can keep their cut in btc though.

They certainly do have millions of dollars[1], but I agree they wouldn't fuck with speculation when they have a steady revenue stream that does not depend on price.

1. http://m.techcrunch.com/2013/05/16/an-offer-you-cant-refuse-bitcoin-startup-bitpay-raises-2m-led-by-founders-fund-the-vc-run-by-the-paypal-mafia/

[bitpop]

Yeah they are new paypal 1% of all transactions. They couldn't afford any shady exposure. If they made an exchange it would be conflict of interest.

But what pisses me off is why the hell do these companies get investors when they don't need it? They dilute their own interest. They don't need capital at all.

[bb999]

Yeah they are new paypal 1% of all transactions. They couldn't afford any shady exposure. If they made an exchange it would be conflict of interest.

But what pisses me off is why the hell do these companies get investors when they don't need it? They dilute their own interest. They don't need capital at all.

Connections can mean a lot more than capital.  Raising money from Peter Thiel in the payment processing space carries a certain cache with it.  Also as Tony Gallippi pointed out they hadn't yet run through their last round of funding, but they were going to have to raise some more along the way to being able to bootstrap the rest of their growth.