"Good News Train" to push us out of stability?

[BitcoinAshley]

Yes, plenty of bad news abound - especially the confirmed, irrefutable russian and chinese language sources that Proudhon has been kind enough to call to our attention. And of course china's regulatory indecision.

But I just was exposed to a barrage... yes, a barrage!

-Tigerdirect now accepting (significant!)
-Can soon pay Australian bus fares with BTC
-Google hints that they are exploring options, although no current plans
-Wells Fargo confirmed exploring options, holding summit
-NY regulatory meeting approaching
-MULTIPLE bitcoin ATM installations worldwide
-At least 2 universities accept it for payment
-Porn.com
-Dimon and Lew both whine about Bitcoin
-Fiat currency is still being printed

This is all confirmed, irrefutable, 100% true, GOOD NEWS.

We've been trading in the same range, more or less, but who thinks this veritable stream of excellent news is likely to start pushing us in the UP direction? 2014 is NOT going to be a slow year, that's for sure, if the first month is any indication.

Please note that the same people who whine that "bitcoin can't be used for anything" (they're a little quieter now, that's for sure) are now going to start claiming that the ability of bitcoin to now actually be used for stuff, will have no effect on price. Such is life.

[DieJohnny]

my guess is by end of year EVERY Adult site will use bitcoin, and my guess is that they will push it HARD, no pun intended.

watch porn! don't worry about your wife or girlfriend ever seeing the bill!!!!!

FYI Porn is the #1 tech leader of all time, drove VHS, DVD, web business. Once they figure out Bitcoin they will Drive Bitcoin adoption to every horny duded with a fat wife.

just saying

Oh and FYI, I am pimping (haha) Bitcoin to every payment tech geek I know, no idea why they haven't seen this as an answer to so many payment problems for high risk web business.

like it or not the next 18 months for Bitcoin will be about massive porn adoption, headline "Porn serving as Viagra to the Bitcoin exchange rate"

[seleme]

We'll have to wait until China's January 31st fear is over, than it's a matter of a day when explosion would happen.

[BitcoinAshley]

Well, gambling and porn are both addictive. The former has a "difficult" legal status in many areas, and the latter involves privacy concerns. So Bitcoin will serve those users' needs well.

We'll have to wait until China's January 31st fear is over, than it's a matter of a day when explosion would happen.

I have a feeling some of the whales aren't going to wait... then it becomes a contest of who can actually wait until after the 31st... and some feel that china's decision really won't have a heck of a lot of long-term impact on price, nor do they feel that china will do anything crazy like outright "ban" bitcoin (they would look incredibly stupid doing so.)

[akujin]

You got punk'd by china! Now they have lot's of coins.

[notig]

I thought we were on the good news train til I looked at gox and saw volume was barely 1k coins in 24 hours.

[BitcoinAshley]

I thought we were on the good news train til I looked at gox and saw volume was barely 1k coins in 24 hours.

Everyone gets really confused when price is not either crashing down or shooting up.

I'm certainly not buying right now. I'm comfortable with my current position.

People like to wait for the whales to start throwing their weight around. But, such is the market.

[seleme]

I thought we were on the good news train til I looked at gox and saw volume was barely 1k coins in 24 hours.

When the price is dropping like it was case in last week or so, then low volume is not a bad thing
Just as it is not uber bullish when price goes up on small volume.

It's understandable that there is no volume these days. There are loads of good news and people don't want to sell, and then there is that China fear that makes people not ready to buy.

[bitpop]

Why are people selling?

[pungopete468]

Why are people selling?

They are HODLING onto their SHOTR.

[Bitcoin BEAR]

Please note that the same people who whine that "bitcoin can't be used for anything" (they're a little quieter now, that's for sure) are now going to start claiming that the ability of bitcoin to now actually be used for stuff, will have no effect on price. Such is life.

I'm one of those people who "whine" about no useful ways to use Bitcoin, not because I'm making shit up, but because there actually isn't! While I agree this is a good start (Overstock and Tigerdirect) it still isn't able to be used on necessities like hospital, utilities, insurance or mortgages, So I'm not turning permabull just yet. I'm liking the progress, but it needs do more than just 2 fairly large companies per 5 years. It needs to ramp up in order to keep my Bull-o-Meter rising. Perhaps the decay is set too fast, but That's how I feel about it.

As far as how the news is taken, in a Bear market (whether it's a longer term Bear market or not, doesn't matter here), good news slows the decline and bad news accelerates it. In a Bull market, good news accelerates the rise and bad news is meh!. It's all about how the market perceives the news on what effect it has on the price.

[bitpop]

Why are people selling?

They are HODLING onto their SHOTR.

O

[BitcoinAshley]

Please note that the same people who whine that "bitcoin can't be used for anything" (they're a little quieter now, that's for sure) are now going to start claiming that the ability of bitcoin to now actually be used for stuff, will have no effect on price. Such is life.

I'm one of those people who "whine" about no useful ways to use Bitcoin, not because I'm making shit up, but because there actually isn't! While I agree this is a good start (Overstock and Tigerdirect) it still isn't able to be used on necessities like hospital, utilities, insurance or mortgages, So I'm not turning permabull just yet. I'm liking the progress, but it needs do more than just 2 fairly large companies per 5 years. It needs to ramp up in order to keep my Bull-o-Meter rising. Perhaps the decay is set too fast, but That's how I feel about it.

Well, I certainly understand the tempered perception. I myself may have a more bullish short-term outlook than you, but I'm also not buying right now. (Well, except for DOGE  )
I see 2 significant companies as a pretty big start for a potential retail adoption phase though - especially considering they're both in the same month... looks more like a sign of things to come than a couple isolated companies with crazy CEOs taken up by the Bitcoin Mania. I guess next month we will see... if we get a few more internet retailers a la New Egg etc, we might eventually get a small/mid-size physical retailer like Old Navy, Kohl's, Victoria's Secret, Hot Topic, something along those lines. Baby steps for now, though, is not really bearish IMHO. Obviously it will be a while before we see a Target, Best Buy, etc. (But of course Target is on Gyft, so who knows ;-))

[bitpop]

Thanks for the free coins guys

[glendall]

I think BTC and porn a great combo.  I'm sure many, many dudes would much, much rather (or at all) pay for porn with spare bitcoin then doing cc payments.

Actually thought of this potential a while ago on the troll box at BTC-E one day. Every one was making up dumb / joke coin ideas and I recommend 'SexCoin'.  Lol'ed pretty hard when a month later found out someone actually made it.  

Back on topic though, wow, 2014 looks GREAT if Jan is any indication.

[pera]

Should @Airbnb accept Bitcoin?

- Brian Chesky (Co-founder, CEO of Airbnb)

[zedicus]

Nice post BitcoinAshley!


Cheers