Standard Bank Trials integration with Bitcoin. Why this is great.

[chessnut]

I dont feel like being too bullish right now but;

http://www.coindesk.com/africas-largest-bank-trials-bitcoin-integration-system/

Not everyone knows that Africa is a play ground for the chinese. What is so interesting about this is that Standard Bank is owned by.... you guessed

it....Chinese.

I was born in South Africa, and I know just how much this will help them. my parents will be he first to move money back to New Zealand with this

service, because we have had no good alternative.

Dont be fooled, there is a huge market in South Africa that have access to technology enough to use bitcoins. all they need is education and

infrastructure.

[hostmaster]

Interesting news. China was the first country ban BTC.

[Mythul]

I think in the years to come many banks will want some of the BTC pie. They are highly competitive and if 1-2 banks are successful with BTC, the others will come in fear to be left behind.

BTC is also a reset in the financial world and countries like India which came late in the digital payments world could by adopting BTC first recover some of the lost ground.

TL;DR : Bullish news.

[bobdude17]

I hadn't really realized the gravity of the news until I saw that Standard Bank has 53,000 employees.

This is going to be quite an exciting year.

[traderCJ]

So why in the hell doesn't the price budge with what appears to be such bullish news?

[F-bernanke]

So why in the hell doesn't the price budge with what appears to be such bullish news?

Exchange withdrawal issue's at Stamp and GOX. Once these are resolved, it will be interesting for sure.

[chessnut]

So why in the hell doesn't the price budge with what appears to be such bullish news?

That is the nature of the market..... I shouldn't have to explain that on this site.

[Ibian]

So why in the hell doesn't the price budge with what appears to be such bullish news?

It's a bit like sex. First you need time to build up, then things plod along for a while until you get a HUGE SUDDEN SPLURGE, I mean surge. Then things calm down for a while until the market is in the mood again and the whole thing starts over.

[traderCJ]

So why in the hell doesn't the price budge with what appears to be such bullish news?

That is the nature of the market..... I shouldn't have to explain that on this site.

I think it deserves explanation, because bullish news doesn't budge the price anymore, even before the Gox craziness.  It seems like ever since China clamped down on Bitcoin, good news is basically no news.  You guys are wrong to shrug it off and say "hey, that's the market man".  Sorry, but that's a cop out.

[chessnut]

So why in the hell doesn't the price budge with what appears to be such bullish news?

That is the nature of the market..... I shouldn't have to explain that on this site.

I think it deserves explanation, because bullish news doesn't budge the price anymore, even before the Gox craziness.  It seems like ever since China clamped down on Bitcoin, good news is basically no news.  You guys are wrong to shrug it off and say "hey, that's the market man".  Sorry, but that's a cop out.

The explanation is simple,
the price has been left high and dry by overly optimistic speculators.
This news on its own would not entail a market price of very much, maybe $100 if lucky.
It only takes one whale who wants out to totally cap good news.

This is really basic stuff, some massive pieces of news can guide us fundamentally over the longer term, the rest is usually useless.

[windjc]

So why in the hell doesn't the price budge with what appears to be such bullish news?

That is the nature of the market..... I shouldn't have to explain that on this site.

I think it deserves explanation, because bullish news doesn't budge the price anymore, even before the Gox craziness.  It seems like ever since China clamped down on Bitcoin, good news is basically no news.  You guys are wrong to shrug it off and say "hey, that's the market man".  Sorry, but that's a cop out.

No its not. You haven't been around very long. You have no real first hand experience. The market is ahead of the fundamentals. Eventually they even out and then the market takes off ahead of the fundamentals again.

Right now good news doesnt bring a lot of new money into the market. But eventually, as fundamentals expand new money comes in for a variety of reasons.

[chessnut]

So why in the hell doesn't the price budge with what appears to be such bullish news?

That is the nature of the market..... I shouldn't have to explain that on this site.

I think it deserves explanation, because bullish news doesn't budge the price anymore, even before the Gox craziness.  It seems like ever since China clamped down on Bitcoin, good news is basically no news.  You guys are wrong to shrug it off and say "hey, that's the market man".  Sorry, but that's a cop out.

No its not. You haven't been around very long. You have no real first hand experience. The market is ahead of the fundamentals. Eventually they even out and then the market takes off ahead of the fundamentals again.

Right now good news doesnt bring a lot of new money into the market. But eventually, as fundamentals expand new money comes in for a variety of reasons.

exactly, this announcement does not entail that commercial demand will raise the price any time soon. so, over to all the opportunistic speculators right?, nope they all want out cos they are a little bit nervous right now.
aint nobody going to pump bitcoin for a little while. sorry.

[Hyena]

I think many are anticipating just how low does it go this time. Once the majority bets for a bottom we will get a new surge driven by all these butthurt bitcoin november newbies who missed the train back than and have now been waiting a good moment to jump on.

[HairyMaclairy]

It's a screenshot. It's not a customer roll out. 

Bad news good news this market don't care. 

[Xantrax]

so good

[spiderbrain]

I agree the price is currently ahead of the fundamentals, but if this is confirmed, huge news!

[600watt]

I agree the price is currently ahead of the fundamentals, but if this is confirmed, huge news!

http://businesstech.co.za/news/banking/53087/standark-bank-throws-out-bitcoin-idea/


 

man, and i was about to move to south-africa...

[JimboToronto]

all these butthurt bitcoin november newbies who missed the train

Lawl.

[podyx]

I agree the price is currently ahead of the fundamentals, but if this is confirmed, huge news!

http://businesstech.co.za/news/banking/53087/standark-bank-throws-out-bitcoin-idea/


 

man, and i was about to move to south-africa...

that sucks, i was pretty excited with a bitcoin bank

[stompix]

I dont feel like being too bullish right now but;

http://www.coindesk.com/africas-largest-bank-trials-bitcoin-integration-system/

Not everyone knows that Africa is a play ground for the chinese. What is so interesting about this is that Standard Bank is owned by.... you guessed

it....Chinese.

I was born in South Africa, and I know just how much this will help them. my parents will be he first to move money back to New Zealand with this

service, because we have had no good alternative.

Dont be fooled, there is a huge market in South Africa that have access to technology enough to use bitcoins. all they need is education and

infrastructure.

Can you quote some sources saying that it is owned by "Chinese"?