The Great Pump of December 10th & 11th - a few concerns

[thefunkybits]

With the immediate news of Microsoft accepting Bitcoin for digital goods on the Windows Phone and Windows Store marketplace it was amazing to see that China lead the pump.  This was something I have not seen in a while and was fun to be a part of.   

There is only one problem....


There is no new money.  Expect this to go down before or on the weekend.

Indeed, I tend to agree with this thinking...If Paypal and Dell are any indicators we shouldn't be getting too excited

It'll be interesting to see what happens within the next week

[jesuslovesyou]

the what

he said Jesus.

yes, here. Open your heart.

[kwukduck]

You realize how many new coins are mined right? You also realize a lot of that has to be sold asap right?
We would be tanking A LOT faster than this gradual decline over the past months if no money was entering the BTC economy.
We are keeping quite strong for the current inflation rate.

[BitCoinNutJob]

TLDR;  There is no new money.  Expect this to go down before or on the weekend.

No new money immediately but its more good news for the network effect.  $350 is the new $10 from 2013, 100 fold move incoming 2015-2016.

[cr1776]

-snip-
TLDR;  There is no new money.  Expect this to go down before or on the weekend.

that's the first time i've ever seen someone too-long-didn't-read on their own OP.
 

The TLDR needs to be at the top though so we can skip the rest.

[grappa_barricata]

the microsoft news is not bad for bitcoin, but it is negligible for bitcoin price

[aztecminer]

With the immediate news of Microsoft accepting Bitcoin for digital goods on the Windows Phone and Windows Store marketplace it was amazing to see that China lead the pump.  This was something I have not seen in a while and was fun to be a part of.   

There is only one problem....

It went up about $17 dollars...  If this was 2011/2012 we would of seen the price skyrocket Mt. Gox style.   So - with that indicator.  I knew China was going to dump before their work shift ended (4PM China time) and here we are back to the $350 level.  Why is that?   I think the reason has to do with people that entered the pump were shorting the whole time (sub 350) and re-entered the market.  That action is all we got.  At the end of the day - there is no new money coming into Bitcoin otherwise the price would be steadily climing this morning with the news.   Its 10AM EST as of this post and price is moving sideways.


TLDR;  There is no new money.  Expect this to go down before or on the weekend.

Microsoft recently add one more way to accept USD from bitpay company, however many fake news about "it is accepting bitcoin" came out and some of us buy this troll,

The bitcoin price is going to crash even harder after this "delay" caused by fake news same as PayPal made their announcement, you know what happened about the price crash

Microsoft does not accept bitcoin
Microsoft does not hold any bitcoins you pay to bitpay company
Crash incoming!

the flaw in your logic is that you think that any business or company who accepts bitcoin needs to hoard it and that if they do not hoard the coins then it is a bad thing.

[inca]

With the immediate news of Microsoft accepting Bitcoin for digital goods on the Windows Phone and Windows Store marketplace it was amazing to see that China lead the pump.  This was something I have not seen in a while and was fun to be a part of.   

There is only one problem....

It went up about $17 dollars...  If this was 2011/2012 we would of seen the price skyrocket Mt. Gox style.   So - with that indicator.  I knew China was going to dump before their work shift ended (4PM China time) and here we are back to the $350 level.  Why is that?   I think the reason has to do with people that entered the pump were shorting the whole time (sub 350) and re-entered the market.  That action is all we got.  At the end of the day - there is no new money coming into Bitcoin otherwise the price would be steadily climing this morning with the news.   Its 10AM EST as of this post and price is moving sideways.


TLDR;  There is no new money.  Expect this to go down before or on the weekend.

Microsoft recently add one more way to accept USD from bitpay company, however many fake news about "it is accepting bitcoin" came out and some of us buy this troll,

The bitcoin price is going to crash even harder after this "delay" caused by fake news same as PayPal made their announcement, you know what happened about the price crash

Microsoft does not accept bitcoin
Microsoft does not hold any bitcoins you pay to bitpay company
Crash incoming!

the flaw in your logic is that you think that any business or company who accepts bitcoin needs to hoard it and that if they do not hoard the coins then it is a bad thing.

And the flaw in yours is assuming that events like microsoft allowing kids to buy xbox games with bitcoin is only going to result in selling bitcoins, entirely missing that increasing utility drives adoption.

[aztecminer]

With the immediate news of Microsoft accepting Bitcoin for digital goods on the Windows Phone and Windows Store marketplace it was amazing to see that China lead the pump.  This was something I have not seen in a while and was fun to be a part of.   

There is only one problem....

It went up about $17 dollars...  If this was 2011/2012 we would of seen the price skyrocket Mt. Gox style.   So - with that indicator.  I knew China was going to dump before their work shift ended (4PM China time) and here we are back to the $350 level.  Why is that?   I think the reason has to do with people that entered the pump were shorting the whole time (sub 350) and re-entered the market.  That action is all we got.  At the end of the day - there is no new money coming into Bitcoin otherwise the price would be steadily climing this morning with the news.   Its 10AM EST as of this post and price is moving sideways.


TLDR;  There is no new money.  Expect this to go down before or on the weekend.

Microsoft recently add one more way to accept USD from bitpay company, however many fake news about "it is accepting bitcoin" came out and some of us buy this troll,

The bitcoin price is going to crash even harder after this "delay" caused by fake news same as PayPal made their announcement, you know what happened about the price crash

Microsoft does not accept bitcoin
Microsoft does not hold any bitcoins you pay to bitpay company
Crash incoming!

the flaw in your logic is that you think that any business or company who accepts bitcoin needs to hoard it and that if they do not hoard the coins then it is a bad thing.

And the flaw in yours is assuming that events like microsoft allowing kids to buy xbox games with bitcoin is only going to result in selling bitcoins, entirely missing that increasing utility drives adoption.

hmmmm, i must have forgotten i said that .. where did i say that ?? I can't seem to find it.

[btcxyzzz]

Great pump? Laughable.

[rogerdonkey]

thats great bitcoin price strong on range $300-$400

[fewcoins]

thats great bitcoin price strong on range $300-$400

Strong meaning stuck at 350 & constantly going under it?? We just went under 345 with 400 coins waiting to stop any advance of even a dollar...