Monday Afternoon (US Time), Where is this this big phucking 'announcement'?

[ErisDiscordia]

Since I haven't seen anything like this, can I ask the source of these rumors?

A few on this forum subsection, most notably Bittburger provided a link to his mates Facebook page, who is apparently a hotel manager in Miami, where a Bitcoin conference had taken place on Friday, with him having gleaned information which would supposedly come out Monday (today), which would result in present Bitcoin prices becoming a thing of the past.

The mother of my sister's boyfriend once met a priest in Slovakia who had a friend who once heard her father say "Cena nikdy neklesne" which supposedly means that we're going to reach $2000 next week.

And I'm not saying this lightly. I always trust the father of the friend of the mother of my sister's boyfriend, and so should you.

So wonderfully random

Also FTFY.

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[MOB]

Yea, this looks short-term down down down unless some whale comes up from the deep (which does happen, to be fair).  I have sold 75% of what I bought during the last downward spike.

The only thing I am long on at this point are some .7492% 30 days swaps I loaned out today

[okthen]

Yea, this looks short-term down down down unless some whale comes up from the deep (which does happen, to be fair).  I have sold 75% of what I bought during the last downward spike.

The only thing I am long on at this point are some .7492% 30 days swaps I loaned out today

Really? 75% is a lot...
I still feel we're going sideways, and we'll definitely spike if news come (as some say) tomorrow.

[MOB]

Yea, this looks short-term down down down unless some whale comes up from the deep (which does happen, to be fair).  I have sold 75% of what I bought during the last downward spike.

The only thing I am long on at this point are some .7492% 30 days swaps I loaned out today

Really? 75% is a lot...
I still feel we're going sideways, and we'll definitely spike if news come (as some say) tomorrow.

Well, I will be driving for 8 hours tomorrow and then on a plane for 12 the day after.  I would rather be sitting on the sidelines (mostly) than in.

If this continues for two days, then I can buy back in for 5% less in two days anyway.  If it goes up, then at least I still have 25% in.

[MatTheCat]

Yea, this looks short-term down down down unless some whale comes up from the deep (which does happen, to be fair).  I have sold 75% of what I bought during the last downward spike.

Yup.

That is me out.

Bought in at $660. Out at $645. Another spastic trade to add to my collection since the upper $600 range.

Haemorraging yet more USD due to further dicking around on the consolidation which teaches me a lesson for jumping off a clear bull run at the very first little hiccup hoping to catch a correction. That was in low $500s. Seems with trading that shoot yourself in the foot once, and spend the rest of the time trying to compensate for it making things even worse.

Of course, I am a shite trader and the fact that I have been shaken out probably means the 'bullish pennant' can now do what all the text books say that it does. Namely, break out violently to the upside, probably when I am in my bed and unable to respond.

[Raystonn]

Yea, this looks short-term down down down unless some whale comes up from the deep (which does happen, to be fair).  I have sold 75% of what I bought during the last downward spike.

Yup.

That is me out.

Bought in at $660. Out at $645. Another spastic trade to add to my collection since the upper $600 range.

Haemorraging yet more USD due to further dicking around on the consolidation which teaches me a lesson for jumping off a clear bull run at the very first little hiccup hoping to catch a correction. That was in low $500s. Seems with trading that shoot yourself in the foot once, and spend the rest of the time trying to compensate for it making things even worse.

Of course, I am a shite trader and the fact that I have been shaken out probably means the 'bullish pennant' can now do what all the text books say that it does. Namely, break out violently to the upside, probably when I am in my bed and unable to respond.

Thank you Mat.  Are you short now, or just flat?

[MatTheCat]

Thank you Mat.  Are you short now, or just flat?

Flat.

I have banned myself from short trades. Would be a pretty phuckin risky short to take as well. Probably not a whole of potential gains in it but a whole lot of potential for being totally wiped out if the trade goes against you.

I promised myself that I would hold until I started to get the Bitcoin fear. I haven't done that. Instead, I have made a logical decision based on what I have witnessed in the market these past couple of days and other near term bearish data. Traders on Bitfinex are ready to go North, but big players on Stamp aren't having any of it. Stamp is the main USD exchange regardless of the volume reported on Bitfinex. I suspect that the maxed out state of the USD swaps on Bitfinex is ripe for the harvesting and will need to be harvested before Bitcoin can progress......

.....Or perhaps Stamp is where the miners go who don't have access to the OTC market, hence that is where the selling pressure is?

[BittBurger]

Source of the announcement:



https://www.facebook.com/jeffturgeau.clevelander

I don't know Jeff personally, but he is the lead marketing / events manager at Clevelander, which, as people who've been to Miami know, is a legitimate operation in South Beach.   He coordinated the Clevelander being the first hotel in Miami to accept Bitcoin, and hosted the Ethereum / Bitcoin "after party" at Clevelander rooftop during the conference weekend.  

http://finance.yahoo.com/news/bitpay-sponsors-north-american-bitcoin-174400124.html
"Building on the recent success of the European Bitcoin Convention, the NABC will hit Miami Beach on the 25th and 26th of January, 2014. In support of the bitcoin conference and community, the Clevelander Hotel, through BitPay, will allow bitcoiners to pay for their room, food and drinks with bitcoin!   “We have a strong partnership with the Miami Beach Convention Center, when they signed the conference the marketing manager connected me directly with the organizer and the rest is history,” said Jeff Turgeau, Event Sales Manager for Clevelander. “I immediately recognized the profound opportunities accepting bitcoin will create in increasing our revenues and was sold with the initial conversation.” "

He said he was on a conference call with BitPay last week for some more upcoming events, and the information was divulged to him.

As I have said from the beginning - "big announcement" is subjective.  Who knows what he considers "huge".   I did however take him to task by saying the following:  "If anything qualified as huge, it would have been the eBay/PayPal announcement last week, and the price didn't move much.  Is this bigger than that?"   His response was:  "eBay and PayPal are only online services.  This is something that could benefit everyone.  I don't have the details on how they will be incorporating it, but someone big will be."  When I reiterated that the price didnt move much just on an announcement of future incorporation with Ebay - he clarified that the price itself may take time to move.  I assume he recognizes that the thing that moves price is actual commerce, consumer adoption, and demand for bitcoins.  Right now we are in merchant adoption phase, which does not equal consumer adoption and commerce.  

That's everything I know folks.   But Jeff is legit, and I can't think of a reason why he would lie about the BitPay call or the news.  I doubt with 9 "likes" on his status, he was planning to shake the Bitcoin price with a fake announcement.  If something was said on a BitPay phone call, the question is whether his interpretation would match yours or mine.   Anyone's guess.

-B-

[akujin]

We are proud to announce to you... that Mt.Gox 2.0 is now online! 

And BOOM! market crash! LOL! 

[Benjig]

Well, with bitcoin one of the best things i have learnt is to be patient.. there will be news, its just a matter of time i think.

[bitrider]

Matt...... Really?





Uuuuuhggg


You know it could take off at anytime, and you are taking a big risk - one I would obviously not be taking....

That said..., I do think the market will be playing with us for a few more weeks until all this "inevitability" and cockyness drops away - just enough to catch folks off guard.....and then wham...

News (even from big Miami party planners ) is pretty much irrelevant - until the market wants it to be relevant...

Good luck, mate.

[MatTheCat]

You know it could take off at anytime, and you are taking a big risk - one I would obviously not be taking....

That said..., I do think the market will be playing with us for a few more weeks until all this "inevitability" and cockyness drops away - just enough to catch folks off guard.....and then wham...

If Bitcoin can take out $665 on strong volume, then I am back in.......if I happen to be awake and paying attention when it happens (I have slept through a planned buy-in zone recently during run up.....fkn Bitstamp and their utter shite trading options!). This means that I will buy in $20 more expensive than I just sold but that is ok. If I had just stuck to trading on confirmations of breaks instead of trying to 'get a steal' on the spot price or catch falling knives (actually got it once with in $5 of bottom but didn't trust myself enough so sold for a $5 profit), then I would have retained 100% of the profit I made on the way instead of pissing everything all over my feet.

I agree that at some point in the near future, that Bitcoin is 'probably' going to take off, proper. But is also looking likely that a whole bunch of leveraged longs are gonna get squeezed out their positions before Bitcoin will be able to take it's next leg up. And since I have no guarantee that Bitcoin is going to hit the stratosphere, I am unwilling to take dangerous gambles with my capital as I know what I am likely to do should Bitcoin correct down to $550 or something and hang about there long enough for the bearish market prognosis to surface and permeate the community. I would do a phucking Veronica!

Doing things this way, I risk missing out on a bit of upside, but also avoid the risk of suffering down side and the stress involved with sitting underwater in a high risk investment with what is still a significant amount of cash to me.

[gentlemand]

That made me stressed just reading it. I settle on being 10-15% underwater for a few weeks myself rather than be checking things by the minute but that's just me.

[knight22]

I think the rumor started with this post on reddit:

http://www.reddit.com/r/Bitcoin/comments/2753pe/well_known_travel_site_is_going_to_accept_btc/

Then I've read somewhere else (can't find the post) that this "major travel company" will make an announcement by Monday.

Basically just a load of unverifiable crap...

[exponential]

It's still monday...  Too bad, I was looking forward to it.  Reddit post knight22 posted implied a big travel site taking it.  If this were true my guess would be Kyak based on the oddness of their commercials.  But at this point I'm just feeding a rumor which seems to have no foundation.

[mskryxz]

Perhaps this is the beginning?

http://www.businessinsider.com/paypal-president-david-marcus-joins-facebook-2014-6

[Raystonn]

Naw.  Expedia is going to accept Bitcoin.  I don't see why it's such a big deal though.

[Raize]

Looks like this was the news, not sure it's that big of a deal though:
http://www.reddit.com/r/Bitcoin/comments/27pnvg/bitpay_names_visa_veteran_tim_byun_as_chief/

[Sicarius1985]

Would it be Expedia accepting bitcoin? http://www.reddit.com/r/Bitcoin/comments/27vc4x/expedia_starts_accepting_bitcoin_for_hotel/

[okthen]

Naw.  Expedia is going to accept Bitcoin.  I don't see why it's such a big deal though.

This is quite big news!
A big step forwards tourism with bitcoin.
I hope they expand it to their plane tickets service. That would be huge.