Coinbase funding

[hector3115]

How is this news not being bought harder?  These are some big players in the financial industry betting big on bitcoin.  You got to follow the money. You guys are crazy I'm buying this news!!!!

[BrewCrewFan]

How is this news not being bought harder?  These are some big players in the financial industry betting big on bitcoin.  You got to follow the money. You guys are crazy I'm buying this news!!!!

Dude welcome to realization 101 with BTC prices.
Positive news with BTC = dump in price driving it lower.

Heck, its finally started now might see ~200 very soon.

[hector3115]

Oh yeah I'm sure vikram pandit and the NYSE bought into coinbase to ride bitcoin down to zero!!! LOL!  Coinbase stores bitcoins and allows you to BUY, SELL, SEND and RECEIVE bitcoin. 

[arvindr]

How is this news not being bought harder?  These are some big players in the financial industry betting big on bitcoin.  You got to follow the money. You guys are crazy I'm buying this news!!!!

They are not buying bitcoin, but just investing in the company. The return may be something in bitcoin and can be instantly converted.
And, good news has neer got the prices up in the past

[riiiiising]

This isn't really good news for bitcoin, it's just investors securing a share of the profits that are being paid to convert money in to bitcoin and back out. It's a guaranteed stream of revenue.

These VC investors don't give a shit about bitcoin. To them it's just capitalizing on a fad. I'd be very surprised if coinbase is still around five years from now, and they probably realize that too.

It's like all those BTCeanie BTCaby shops that opened up in shopping malls around the US during the craze in the '90s and vanished just as quickly. You know what they say.. during a gold rush, the only people who gets rich are the ones who set up a hotel for the miners and sell them shovels.

Bitcoin-tards mostly don't understand that though, and they believe that this is good news that will make their holdings more valuable.        This is why you guys don't get rich. You need to be one step ahead of the herd... and just the fact that none of this has bumped the price up at all shows you that we're still smack dab in a bear market, so the bottom is still far away. That's what happens in bear markets. "Good" news has no effect.

[ensurance982]

Well, Bitcoin doesn't act on regular good news anymore. The only good news to influence the BTC price would be something like Amazon accepting BTC natively. But I agree that this is a very good sign for Bitcoin's infrastructure. It will profit form this in the long term, for sure!

[ensurance982]

Well, Bitcoin doesn't act on regular good news anymore. The only good news to influence the BTC price would be something like Amazon accepting BTC natively. But I agree that this is a very good sign for Bitcoin's infrastructure. It will profit form this in the long term, for sure!

"Bitcoin doesn't act on regular good news anymore", bitcoin does act on good news, but coinbase get funded is not a good news
If Amazon is ever going to do it, it will do with bitpay or coinbase
No one wants to accept / hold bitcoin (the worst investment of 2014) but fiat from payment processor

I think that Coinbase is a valuable and important part of Bitcoin's road to broader adoption. I don't know why it's a bad thing that people not intending to hold Bitcoin can nontheless accept it - that way customers can use it if they wish to. Sure, it creates some selling pressure, anything else bad about it, though?

[ensurance982]

Well, Bitcoin doesn't act on regular good news anymore. The only good news to influence the BTC price would be something like Amazon accepting BTC natively. But I agree that this is a very good sign for Bitcoin's infrastructure. It will profit form this in the long term, for sure!

"Bitcoin doesn't act on regular good news anymore", bitcoin does act on good news, but coinbase get funded is not a good news
If Amazon is ever going to do it, it will do with bitpay or coinbase
No one wants to accept / hold bitcoin (the worst investment of 2014) but fiat from payment processor

I think that Coinbase is a valuable and important part of Bitcoin's road to broader adoption. I don't know why it's a bad thing that people not intending to hold Bitcoin can nontheless accept it - that way customers can use it if they wish to. Sure, it creates some selling pressure, anything else bad about it, though?

That some selling pressure dropped bitcoin over 85% and they are still pushing the price hard while some mining companies are forced to out of business,
Mining is going to be more centralised than before

Well, I don't think that the drop was caused by the selling pressure created by merchants liquidating their BTC. Why do you think that, do you have any proof to back that? Centralised mining is of course something hurting the price and the margins, but we will have to adapt at some point. It seems that point has come now.

[BrewCrewFan]

Well, Bitcoin doesn't act on regular good news anymore. The only good news to influence the BTC price would be something like Amazon accepting BTC natively. But I agree that this is a very good sign for Bitcoin's infrastructure. It will profit form this in the long term, for sure!

Fuq, even Amazon would not move the price I think.

What would? More people being PAID in BTC, being able to pay utilities with BTC... see what I am getting at?

[ensurance982]

Well, Bitcoin doesn't act on regular good news anymore. The only good news to influence the BTC price would be something like Amazon accepting BTC natively. But I agree that this is a very good sign for Bitcoin's infrastructure. It will profit form this in the long term, for sure!

Fuq, even Amazon would not move the price I think.

What would? More people being PAID in BTC, being able to pay utilities with BTC... see what I am getting at?

Yeah people being paid in BTC would be a very good thing. Being able to pay your utilities in BTC would render FIAT redundant and close the cycle of using BTC as a currency, sure! But I do think that a player as big as Amazon would do Bitcoin very good, it would be a major proponent and a large example of a "legitimate use" of Bitcoin - not some obscure illegal marketplace.

[hector3115]

This is without a doubt good news for bitcoin.  Big money being invested the infrastructure of bitcoin.  

These are smart people who have done very well for themselves because of their ability to invest in the future.  These are not internet trolls that sit around and watch porn and then troll bitcoin message boards.  

Call me crazy, but I'm putting my money where these guys are:

Richard branson
Eric Schmidt
Jerry yang
Reid hoffman
Vikram pandit
Eric schmidt
NYSE

[Raystonn]

What fundamental news might lead to a higher price?  Unique goods and/or services offered for only Bitcoin.  Fiat not accepted.

[BrewCrewFan]

What fundamental news might lead to a higher price?  Unique goods and/or services offered for only Bitcoin.  Fiat not accepted.

Well I know some companies tried to offer discounts on items ... a certain % off if people used BTC instead of CC/debit because they would save on the transaction fees, but I think the CC companies had a shitfit about it so it had to be stopped ( not 100% on that )

Well, Bitcoin doesn't act on regular good news anymore. The only good news to influence the BTC price would be something like Amazon accepting BTC natively. But I agree that this is a very good sign for Bitcoin's infrastructure. It will profit form this in the long term, for sure!

Fuq, even Amazon would not move the price I think.

What would? More people being PAID in BTC, being able to pay utilities with BTC... see what I am getting at?

Yeah people being paid in BTC would be a very good thing. Being able to pay your utilities in BTC would render FIAT redundant and close the cycle of using BTC as a currency, sure! But I do think that a player as big as Amazon would do Bitcoin very good, it would be a major proponent and a large example of a "legitimate use" of Bitcoin - not some obscure illegal marketplace.

Well newegg is legit enough. I think they are one of the bigger electronic resellers in the US I belive... but that is already for us geeks anyways.

I get what you are saying though... but hey , at least you can tip on facebook now

[ensurance982]

Well, Bitcoin doesn't act on regular good news anymore. The only good news to influence the BTC price would be something like Amazon accepting BTC natively. But I agree that this is a very good sign for Bitcoin's infrastructure. It will profit form this in the long term, for sure!

Fuq, even Amazon would not move the price I think.

What would? More people being PAID in BTC, being able to pay utilities with BTC... see what I am getting at?

Yeah people being paid in BTC would be a very good thing. Being able to pay your utilities in BTC would render FIAT redundant and close the cycle of using BTC as a currency, sure! But I do think that a player as big as Amazon would do Bitcoin very good, it would be a major proponent and a large example of a "legitimate use" of Bitcoin - not some obscure illegal marketplace.

Well newegg is legit enough. I think they are one of the bigger electronic resellers in the US I belive... but that is already for us geeks anyways.

I get what you are saying though... but hey , at least you can tip on facebook now

Yeah, it's a good way to spread the word about Bitcoin. But one thing we have to consider: It mustn't come across as pushy or awkward. Tipping someone $0.05 in a virtual currency may for some people be futuristic and kickstart their imaginations about possibilities, but to others it may seem childish and geeky.