US senate meeting 18th Nov effects on price?

[carface]

Is there really going to be that much of an impact on BTC price after these hearings on Monday and Tuesday? It's most likely the feedback from the hearings will be more negative than positive so will we be likely to see the impact on Monday evening?

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[sushi]

I don't think so.  May be a temporary price hike or decline from scared Americans.

REEMBER!!!  Bitcoin is used in world wide.  In 2012 and 2013, American Banks restricted transactions related to Bitcoins, but that didn't stop the rest of the world from using and investing in the Bitcoins.

Infact, you can still withdraw into FIAT outside USA, Americans are the one who have to pay every expensive fees to Buy the Coiins, and then another hefty fees to cash them out.

Mt Gox, if you are American, forget about be able to cash out
Bitstamp, if you are American, you can withdraw but pays a lot of $$$ in fees to cash out + 5-7 days of wait + another 3-5 days in FIAT Transactions to show up in the USA.
Coinbase, American Company, but if you want to buy coins, you may have to wait for about 10-14 days while they hold your money just to buy the coins.  (You'll miss out on the big price move if you were not planning things ahead of time)
BTC-E, you can get your money out to FIAT, but if you are American, it's a huge wait period to cash out, or they may even deny your withdraw request stating they can't accept your documents.

Bitcoins has a hard-numbered cap how many coins would exist.  If the demands exceed the market, price will natually keep going up while many others are just holding on to the coins or May be they can't cash out because they are Americans   

[dnaleor]

if there is a lot of neutral/positive media attention, price will go nuts :p
If it is negative, expect a correction towards 300?

[ArticMine]

if there is a lot of neutral/positive media attention, price will go nuts :p
If it is negative, expect a correction towards 300?

This is a very fair assessment.

[firstlast]

Has this weekend priced in the expectations of the Senate meeting? It seems a great number of investors have regarded this as positive news and have bought accordingly.

I don't think we'll see a major price drop. A minor correction or a continuation of the trend upwards seems much more likely.

[glendall]

I don't think it will have much effect myself. Though who knows ,maybe just a little panic is enough to trigger a crash  (sure hope so, would love to buy back in).

US gov' financial policy is created and dictated by Goldman Sachs, so undoubtedly there is going to be hostility to BTC in the US. The actual relevance of Bitcoin has little to do with how the banking cartels will react to it. They will naturally see Bitcoin as worry because Bitcoin actually has value backing it up, so eventually it lead to further inflation of funny-money USD which is printed at ridiculous, unsustainable amounts and headed for even more inflation.

Anyways, back on topic, I'm going to say tomorrow will just be some informative posturing, not much will come out of it, won't be much of a blip of news stories about it.  I think BTC price will largely be changed because the US gov' is not as relevant to Bitcoin as some believe them to be.

[bitcon]

i hope the nazis let me keep my last few bitcoins.

[btcprice]

Most of the volume I am seeing is coming from China. Take a look at volume when the numbers go up.

The Americans have limited access to new funds due to the fact that the banks are closed.

[freebird]

The optimist in me says that this huge rally going on right now is insiders who know that the Congressional hearings will be positive for bitcoin. Some people always have inside info, and they would either be buying or selling right now. LOTS of buying going on the night before the hearing... looks bullish to me.

[bitcon]

The optimist in me says that this huge rally going on right now is insiders who know that the Congressional hearings will be positive for bitcoin. Some people always have inside info, and they would either be buying or selling right now. LOTS of buying going on the night before the hearing... looks bullish to me.

i was thinking this same thing

[ANiceJewishBoy]

Please share these ideas here for noobs
https://bitcointalk.org/index.php?topic=328203.0
(some of which are probably future power players, since Bitcoin is booming right now and big people are probably coming in)

&
Don't forget Bitcoin day:
https://bitcointalk.org/index.php?topic=329422.0

[pheaonix]

I don't think so.  May be a temporary price hike or decline from scared Americans.

REEMBER!!!  Bitcoin is used in world wide.  In 2012 and 2013, American Banks restricted transactions related to Bitcoins, but that didn't stop the rest of the world from using and investing in the Bitcoins.

Infact, you can still withdraw into FIAT outside USA, Americans are the one who have to pay every expensive fees to Buy the Coiins, and then another hefty fees to cash them out.

Mt Gox, if you are American, forget about be able to cash out
Bitstamp, if you are American, you can withdraw but pays a lot of $$$ in fees to cash out + 5-7 days of wait + another 3-5 days in FIAT Transactions to show up in the USA.
Coinbase, American Company, but if you want to buy coins, you may have to wait for about 10-14 days while they hold your money just to buy the coins.  (You'll miss out on the big price move if you were not planning things ahead of time)
BTC-E, you can get your money out to FIAT, but if you are American, it's a huge wait period to cash out, or they may even deny your withdraw request stating they can't accept your documents.

Bitcoins has a hard-numbered cap how many coins would exist.  If the demands exceed the market, price will natually keep going up while many others are just holding on to the coins or May be they can't cash out because they are Americans   

and even with all of these restrictions america is still 90% of the market

[ThatDGuy]

The optimist in me says that this huge rally going on right now is insiders who know that the Congressional hearings will be positive for bitcoin. Some people always have inside info, and they would either be buying or selling right now. LOTS of buying going on the night before the hearing... looks bullish to me.

This seems like a really good call, in hindsight.  Nice job.

[freebird]

The optimist in me says that this huge rally going on right now is insiders who know that the Congressional hearings will be positive for bitcoin. Some people always have inside info, and they would either be buying or selling right now. LOTS of buying going on the night before the hearing... looks bullish to me.

This seems like a really good call, in hindsight.  Nice job.

Thanks!

I'm watching the Banking Committee hearing right now, and Sen. Warner and Sen. Merkley sound very bullish on bitcoin. There were actually looks of glee on their faces when they were talking about how much the price has gone up recently. They obviously own some. 

[log2exp]

Sen. Kirk looks not ready 

[CoinHoarder]

Senator Jeff Murkley... Rofl.. he had no idea what he was talking about! And these doofuses are going to make the laws for Bitcoin in America...

[ThatDGuy]

The optimist in me says that this huge rally going on right now is insiders who know that the Congressional hearings will be positive for bitcoin. Some people always have inside info, and they would either be buying or selling right now. LOTS of buying going on the night before the hearing... looks bullish to me.

This seems like a really good call, in hindsight.  Nice job.

Thanks!

I'm watching the Banking Committee hearing right now, and Sen. Warner and Sen. Merkley sound very bullish on bitcoin. There were actually looks of glee on their faces when they were talking about how much the price has gone up recently. They obviously own some. 

Recognized that too! I can't stop doing the same thing when explaining it to people over the last 2 weeks!

[theonewhowaskazu]

It would be actually hillarious if the Senators own Bitcoin.