ATH coming up?

[Baleinium]

Asias richest man has invested in Bitpay as per this article -> http://www.scmp.com/business/banking-finance/article/1390224/bitcoin-service-firms-best-investment-not-virtual-currency
Furthermore, anyone remembers the 400k BTC that started moving a few days ago? With these news so close together it leads me to believe that it might have been due to a deal outside an exchange. It's not outside the realm of possibility that Mr Ka-shing purchased them outside an exchange. We also have to remember that he is very well connected with the Chinese government. Do you think someone like that would invest in Bitcoins if they where to be outlawed in China? I believe that they might have issued a temporary ban to allow high-level investors in China a chance to buy at a great price before pushing it higher.

Thoughts on this? Personally I predict a new ATH within a week. I'm gonna say 1500$ first half of January.

[1715693099]

1715693099

[1715693099]

1715693099

[Boxman90]

So some asian dude invests in a Bitcoin related company.

He did not invest in bitcoin

So he's just doing what we are all doing. Using Bitcoin for fiat profits. Don't delude yourself at this moment with "bitcoin is the next money coming this year". No. It's all speculation and FIAT profits.

[Ibian]

There is always another ATH coming up.

[pontiacg5]

So some asian dude invests in a Bitcoin related company.

He did not invest in bitcoin

So he's just doing what we are all doing. Using Bitcoin for fiat profits. Don't delude yourself at this moment with "bitcoin is the next money coming this year". No. It's all speculation and FIAT profits.

What sort of nonsense is this?

[JimboToronto]

Let's not get ahead of ourselves with the ATH talk just yet. First we need to get back to 4 digits.

Hitting 800 was a step in the right direction.

[R2Pleasent]

So some asian dude invests in a Bitcoin related company.

He did not invest in bitcoin

So he's just doing what we are all doing. Using Bitcoin for fiat profits. Don't delude yourself at this moment with "bitcoin is the next money coming this year". No. It's all speculation and FIAT profits.

What sort of nonsense is this?

His investment is only loosely related to bitcoin price.  He is investing in Bitpay, which is a company which derives value from merchants looking to sell the risk associated with accepting a volatile currency.  Bitpay will be successful so long as Bitcoin is liquid and volatile.  This investment has little correlation with a long position in BTC.

[Boxman90]

So he's just doing what we are all doing. Using Bitcoin for fiat profits.

Whoops... I was hoping to decimate fiat entirely.

I'll have to rethink my strategy now... thanks.

Lol so you don't care about USD price at all then?

[Dragonkiller]

So some asian dude invests in a Bitcoin related company.

He did not invest in bitcoin

So he's just doing what we are all doing. Using Bitcoin for fiat profits. Don't delude yourself at this moment with "bitcoin is the next money coming this year". No. It's all speculation and FIAT profits.

What sort of nonsense is this?

His investment is only loosely related to bitcoin price.  He is investing in Bitpay, which is a company which derives value from merchants looking to sell the risk associated with accepting a volatile currency.  Bitpay will be successful so long as Bitcoin is liquid and volatile.  This investment has little correlation with a long position in BTC.

Not true. Bitpay grows if bitcoin grows. If bitcoin users grow, bitcoin price goes up.

[ElectricMucus]

Horizons Ventures invested in BitPay, which is just Li Ka-shings Venture Capital firm.

[Dragonkiller]

Also he has probably invested directly in bitcoin too, but that's not something worth announcing.

[pontiacg5]

So some asian dude invests in a Bitcoin related company.

He did not invest in bitcoin

So he's just doing what we are all doing. Using Bitcoin for fiat profits. Don't delude yourself at this moment with "bitcoin is the next money coming this year". No. It's all speculation and FIAT profits.

What sort of nonsense is this?

His investment is only loosely related to bitcoin price.  He is investing in Bitpay, which is a company which derives value from merchants looking to sell the risk associated with accepting a volatile currency.  Bitpay will be successful so long as Bitcoin is liquid and volatile.  This investment has little correlation with a long position in BTC.

Bitpay allows people to easily spend and receive coins, something that in time could make bitcoin less volatile, enticing new money to get involved in bitcoin. You'd be dumb to think he doesn't hold some bitcoins and expects reasonable justified longer returns on them, none of this up 1000%, down 500%, up 200% in three weeks mess.

Or are you one of the few many that thinks bitcoin is for nothing but day trading and speculation?  

[Boxman90]

So he's just doing what we are all doing. Using Bitcoin for fiat profits.

Whoops... I was hoping to decimate fiat entirely.

I'll have to rethink my strategy now... thanks.

Lol so you don't care about USD price at all then?

Everything can be priced in everything else. I would be silly to ignore that fact.

I've quickly skimmed your post history and all you do is get giddy over Bitcoin USD price in the Speculation forum.

If you're a bitcoin purist looking to annihilate FIAT, you'd not be here talking about "traps" and "profits". You'd not care about USD value AT ALL.

[Baleinium]

So some asian dude invests in a Bitcoin related company.

He did not invest in bitcoin

So he's just doing what we are all doing. Using Bitcoin for fiat profits. Don't delude yourself at this moment with "bitcoin is the next money coming this year". No. It's all speculation and FIAT profits.

Are you for real? Investing in BitPay IS investing in Bitcoins! Anything else is just absolute nonsense. Furthermore he's not "some asian dude", this is almost the equivalent of Bill Gates or Warren Buffet getting involved, and as I said he would never do it if the Chinese where to ban Bitcoins. This most likely not only means that China will be back on track soon, but serious investors are now openly in the game. Do you think Wall Street will stand idly by as Asias richest man moves into what could become a new global currency, or do you think that they will want a piece of the action?

[Boxman90]

So some asian dude invests in a Bitcoin related company.

He did not invest in bitcoin

So he's just doing what we are all doing. Using Bitcoin for fiat profits. Don't delude yourself at this moment with "bitcoin is the next money coming this year". No. It's all speculation and FIAT profits.

Are you for real? Investing in BitPay IS investing in Bitcoins! Anything else is just absolute nonsense. Furthermore he's not "some asian dude", this is almost the equivalent of Bill Gates or Warren Buffet getting involved, and as I said he would never do it if the Chinese where to ban Bitcoins. This most likely not only means that China will be back on track soon, but serious investors are now openly in the game. Do you think Wall Street will stand idly by as Asias richest man moves into what could become a new global currency, or do you think that they will want a piece of the action?

Since when is investing in a US based company the same as buying Bitcoins?

No matter how much you are uber-bull and want to spin this, this is not an investment in Bitcoin. It's an investment in a US based company.

[Dragonkiller]

So some asian dude invests in a Bitcoin related company.

He did not invest in bitcoin

So he's just doing what we are all doing. Using Bitcoin for fiat profits. Don't delude yourself at this moment with "bitcoin is the next money coming this year". No. It's all speculation and FIAT profits.

Are you for real? Investing in BitPay IS investing in Bitcoins! Anything else is just absolute nonsense. Furthermore he's not "some asian dude", this is almost the equivalent of Bill Gates or Warren Buffet getting involved, and as I said he would never do it if the Chinese where to ban Bitcoins. This most likely not only means that China will be back on track soon, but serious investors are now openly in the game. Do you think Wall Street will stand idly by as Asias richest man moves into what could become a new global currency, or do you think that they will want a piece of the action?

Since when is investing in a US based company the same as buying Bitcoins?

No matter how much you are uber-bull and want to spin this, this is not an investment in Bitcoin. It's an investment in a US based company.

if bitcoin fails, bitpay won't exist.

[Ducky1]

And if he really invested also in bitcoin, do you think he would tell anyone?

 

[pontiacg5]

if bitcoin fails, bitpay won't exist.

How can it be any more obvious than this?

No matter how much you are uber-bear, there is no way to spin an investment in BITpay as unrelated at all to bitcoin.

[Boxman90]

Since when is investing in a US based company the same as buying Bitcoins?

No matter how much you are uber-bull and want to spin this, this is not an investment in Bitcoin. It's an investment in a US based company.

if bitcoin fails, bitpay won't exist.

It doesn't matter. The dude above me is trying to spin this to "China will definitely allow Bitcoin now". I cannot say it more clearly than this: the news message did not say anywhere that he bought or owns bitcoin.

If anything, this is sooner the proof of the opposite: China definitely is going to ban bitcoin and therefore Chinese investors need to look for other ways to invest in something Bitcoin related - namely a company that deals with bitcoin.

if bitcoin fails, bitpay won't exist.

How can it be any more obvious than this?

No matter how much you are uber-bear, there is no way to spin an investment in BITpay as unrelated at all to bitcoin.

Gee whiz are you guys thick? Investors in Bitcoin will watch the price. Investors in Bitpay (a bitcoin related US based company) will look at the number of transactions conducted in Bitpay, the number of companies attached to Bitpay and their transaction volume.. Price is not a factor for Bitpay, the number of transactions is.

I'm not saying it's unrelated to bitcoin, I'm saying its not an investment in Bitcoin and therefore price won't change, and China Govt stance on Bitcoin will DEFINITELY not change because of it. Whoever said that must be on some good acid.

[piramida]

Furthermore, anyone remembers the 400k BTC that started moving a few days ago?

Nobody does; it was 130k.

[Dragonkiller]

Since when is investing in a US based company the same as buying Bitcoins?

No matter how much you are uber-bull and want to spin this, this is not an investment in Bitcoin. It's an investment in a US based company.

if bitcoin fails, bitpay won't exist.

It doesn't matter. The dude above me is trying to spin this to "China will definitely allow Bitcoin now". I cannot say it more clearly than this: the news message did not say anywhere that he bought or owns bitcoin.

If anything, this is sooner the proof of the opposite: China definitely is going to ban bitcoin and therefore Chinese investors need to look for other ways to invest in something Bitcoin related - namely a company that deals with bitcoin.

if bitcoin fails, bitpay won't exist.

How can it be any more obvious than this?

No matter how much you are uber-bear, there is no way to spin an investment in BITpay as unrelated at all to bitcoin.

Gee whiz are you guys thick? Investors in Bitcoin will watch the price. Investors in Bitpay (a bitcoin related US based company) will look at the number of transactions conducted in Bitpay, the number of companies attached to Bitpay and their transaction volume.. Price is not a factor for Bitpay, the number of transactions is.

I'm not saying it's unrelated to bitcoin, I'm saying its not an investment in Bitcoin and therefore price won't change, and China Govt stance on Bitcoin will DEFINITELY not change because of it. Whoever said that must be on some good acid.

He probably has also invested in bitcoin directly, as many investors have, e.g. Richard Branson (another billionaire).

But that is not something which needs to be announced.

Bitpay grows if number of bitcoin transactions increase. If number of bitcoin transactions increase, it means bitcoin has become more popular. Bitcoin becoming more popular will mean price will increase.