Latest Developments Thread

[T.Stuart]

http://www.psmag.com/navigation/business-economics/bitcoin-crash-never-came-72462/

More positive news. But remember all this positive news probably won't have any effect on prices as many of the experts here say. 

[1714094365]

1714094365

[1714094365]

1714094365

[arepo]

http://www.psmag.com/navigation/business-economics/bitcoin-crash-never-came-72462/

More positive news. But remember all this positive news probably won't have any effect on prices as many of the experts here say. 

it's clear that you don't actually take the time to read what no one except you is calling an expert opinion, anyway.

news gets priced-in gradually, mostly because not everyone hears about it at precisely the same time, not everybody reacts to it at precisely the same time, and not everybody reacts to it in precisely the same way. this is as simply as i can put it.

[T.Stuart]

http://www.psmag.com/navigation/business-economics/bitcoin-crash-never-came-72462/

More positive news. But remember all this positive news probably won't have any effect on prices as many of the experts here say.  

it's clear that you don't actually take the time to read what no one except you is calling an expert opinion, anyway.

news gets priced-in gradually, mostly because not everyone hears about it at precisely the same time, not everybody reacts to it at precisely the same time, and not everybody reacts to it in precisely the same way. this is as simply as i can put it.

Just saying, it looks like its getting "priced in" a bit faster now!  

[arepo]

http://www.psmag.com/navigation/business-economics/bitcoin-crash-never-came-72462/

More positive news. But remember all this positive news probably won't have any effect on prices as many of the experts here say.  

it's clear that you don't actually take the time to read what no one except you is calling an expert opinion, anyway.

news gets priced-in gradually, mostly because not everyone hears about it at precisely the same time, not everybody reacts to it at precisely the same time, and not everybody reacts to it in precisely the same way. this is as simply as i can put it.

Just saying, it looks like its getting "priced in" a bit faster now!  

ah yes.... how could i be so stupid.... correlation does imply causation! T "unsubstantiated claims" Stuart, at it again!

and i thought i'd have to wait at least a few hours to use your new nickname

[T.Stuart]

http://www.psmag.com/navigation/business-economics/bitcoin-crash-never-came-72462/

More positive news. But remember all this positive news probably won't have any effect on prices as many of the experts here say.  

it's clear that you don't actually take the time to read what no one except you is calling an expert opinion, anyway.

news gets priced-in gradually, mostly because not everyone hears about it at precisely the same time, not everybody reacts to it at precisely the same time, and not everybody reacts to it in precisely the same way. this is as simply as i can put it.

Just saying, it looks like its getting "priced in" a bit faster now!  

ah yes.... how could i be so stupid.... correlation does imply causation! T "unsubstantiated claims" Stuart, at it again!

and i thought i'd have to wait at least a few hours to use your new nickname

Sometimes I think we're speaking different languages Arepo but IMO that doesn't mean we have to apparently disagree on everything. 

[arepo]

Sometimes I think we're speaking different languages Arepo but IMO that doesn't mean we have to apparently disagree on everything. 

haha it's just fun to poke fun at the more ridiculous claims you make, that's all. i wouldn't say we disagree on everything.

although i have to ask you, since there is quite a bit of good news in this thread, precisely which set is being priced-in right now, would you say? and how come everyone decided to buy at exactly the same time?

[T.Stuart]

Sometimes I think we're speaking different languages Arepo but IMO that doesn't mean we have to apparently disagree on everything. 

haha it's just fun to poke fun at the more ridiculous claims you make, that's all. i wouldn't say we disagree on everything.

although i have to ask you, since there is quite a bit of good news in this thread, precisely which set is being priced-in right now, would you say? and how come everyone decided to buy at exactly the same time?

Back to Ockham's Razor Arepo. You know of course that according to Ockham's Razor the best theory does not necessarily have to be the most accurate. I do not have to pinpoint every single thing for my theory "Good news makes the price go up; bad news makes the price go down". And please don't start going into the different shades of good and bad and good really being bad and all that crap. Let's just say that generally if investors perceive something as good news then in my book it is good news.

Regarding why we see everyone deciding to buy at the same time, I have already explained my reasons for believing that those in fiat feel like they have less time on their hands than those in Bitcoin but I resume the main points below.

1. What could be the most significant change in market sentiment in the history of Bitcoin is fully underway and is progressing right now. Bitcoin has a serious mainstream future ahead.

2. Exchanges are playing catch up opening new accounts, processing KYC documents, transfers, etc.

3. Hodlers are taking charge of the market.

[piramida]

I think the news set the sentiment, and help start the panic. So positive sentiment + the price starts to grow => hope for a lower price is lost => panic buying spree. Easy.

[segeln]

come on guys, more News less discussions. We got other treads for that

@Arepo and @ T.Stuart.

ever heard of PM`s ?

[T.Stuart]

http://nypost.com/2014/01/12/first-bitcoin-atm-to-debut-in-nyc/

Bitcoin ATM opening in NY

[T.Stuart]

http://guardianlv.com/2014/01/digital-currency-bitcoin-tested/

Interesting article about regulation etc.

[henryreardon]

Was this NYC thing the cause I'd the overnight drop?

[T.Stuart]

http://www.usatoday.com/story/money/personalfinance/2014/01/12/cnbc-bitcoin-business/4393905/

More business potential

[notme]

Was this NYC thing the cause I'd the overnight drop?

No.  Traders drove the price into overbought territory.  The overnight drop corrected this situation.

[Wilhelm]

News article I found:
http://www.zdnet.com/cn/chinas-bitcoin-exchanges-aim-to-work-around-rules-7000025010/

By Eileen Yu |    January 10, 2014 -- 09:28 GMT (01:28 PST)

Positive points:

According to the report, two other Chinese trading exchanges including OKCoin now allow users to make payments directly to bank accounts, which OKCoin's founder Xu Mingxing said did not violate the government's directive.

This means that there are still ways to do stuff with bitcoin in China.

The digital currency, however, enjoyed a breather in Singapore where the government indicated more support. The Inland Revenue Authority of Singapore this week outlined tax requirements for transactions involving Bitcoin. Under its advisory, Singaporean businesses that offer the buying and selling of the virtual currency will be subject to taxation on the gains made on the sale. However, if the Bitcoins form part of the business' investment portfolio, the tax authority considers the gains from any sale to be capital in nature and not subject to taxation.

Singapore has a tax directive on bitcoin and thus accepting it. Chinese might go offshore to Singapore to do their trading. Maybe even pressuring China to accept it since money and business flow out the country

[T.Stuart]

http://www.businessinsider.com/overstock-bitcoin-2014-1

Amazon will accept Bitcoin (Patrick Byrne).

[ElectricMucus]

http://www.businessinsider.com/overstock-bitcoin-2014-1

Amazon will accept Bitcoin (Patrick Byrne).

He's playing you guys like a fiddle.

[T.Stuart]

http://www.businessinsider.com/overstock-bitcoin-2014-1

Amazon will accept Bitcoin (Patrick Byrne).

He's playing you guys like a fiddle.

He sure plays a mean tune! 

[ElectricMucus]

http://www.businessinsider.com/overstock-bitcoin-2014-1

Amazon will accept Bitcoin (Patrick Byrne).

He's playing you guys like a fiddle.

He sure plays a mean tune! 

Perhaps there is hope for you yet.

[RandyMagnum]

http://www.coindesk.com/chinese-government-backed-tv-program-bashes-bitcoin-outrages-community/

The business channel of China Central Television (CCTV), the country’s government-backed national television broadcaster, is the subject of bias allegations for a program that cast a negative light on bitcoin and the Chinese bitcoin community.

The program, entitled Outrageous Bitcoin, features four accounts on events that took place in the aftermath of the central bank’s ban on banks and third party payment processors from working with bitcoin exchanges.

The cast of interviewees are quite representative of the Chinese bitcoin community – a trader, a mining equipment vendor, a businessman running an exchange and a couple who host a bitcoin videocast program. However, it was rife with negative suggestions, such as comparisons of bitcoin to a Ponzi scheme and Dutch Tulip Mania. Overall the half-hour long program seemed unprofessionally imbalanced, focusing only on stories involving people who suffered financial losses from bitcoin investment.

Backlash

The documentary, aired on the night of 11th January, caused immediate backlash from bitcoiners including Jin and Guo (interviewees) themselves. In their latest videocast, they complained the program used only a few minutes of a two-hour long interview and edited it to present only the TV station’s point of view rather than theirs. After the program was aired, the couple said, they received a large amount of criticism, and even verbal abuse from angry bitcoiners who felt they had been misrepresented. Now the couple say they were used and betrayed by the TV station.

The program also caused some speculation as to whether it might be a precursor to further government intervention.