funny thing no one talks about that paypal has also invested in bitpay, somewhere around 2 million usd
That is good to know.
Topic: ATH coming up? (Read 2543 times)
That is good to know.
funny thing no one talks about that paypal has also invested in bitpay, somewhere around 2 million usd
I'm not sure how you're going to convince anyone that increased merchant adoption through BitPay won't help contribute positively to BTC price but good luck dude.
They're not directly related. Especially not through Bitpay, as their service is based on 100% BTC selling pressure. Because all their merchants are paid in fiat. Buying anything through Bitpay = selling BTC for fiat.
Who buys the BTC that Bitpay sells? People who then become the customers who buy things through Bitpay again. It is circular; the buying and selling pressure cancel each other out.
And if he really invested also in bitcoin, do you think he would tell anyone?
I'd say it's a pretty big tell
More merchant adoption = more exposure, more legitimacy, more people in the game, using, investing in, and having a reason to hodl coins , not necessarily the merchants themselves.
And anyway people have to buy the bitcoins to spend them. The coins spent on stuff through bitpay would have been sold anyway, this just helps everyone.
I'm not sure how you're going to convince anyone that increased merchant adoption through BitPay won't help contribute positively to BTC price but good luck dude.
They're not directly related. Especially not through Bitpay, as their service is based on 100% BTC selling pressure. Because all their merchants are paid in fiat. Buying anything through Bitpay = selling BTC for fiat.
I'm not sure how you're going to convince anyone that increased merchant adoption through BitPay won't help contribute positively to BTC price but good luck dude.
Of course he invested in bitcoin, price of bitcoin is a sum of it's parts: development hours, existing companies, hashing infrastructure. Without those, in it's infancy on satoshi's PC, nobody would've bought all of bitcoins for more than a dollar. The money spent on all the companies and infrastructure reassure investors that it is a serious deal, if somebody invested 20million in a related company, they can probably risk a million, too. So yes, it is a direct investment into bitcoin.
@boxman90
If Warren Buffet invested in Exxon, would you say he didn't buy any oil? I would read between the lines and say he probably owns at least a few barrels now through Exxon.
If Warren Buffet invested in Exxon, would you say he didn't buy any oil? I would read between the lines and say he probably owns at least a few barrels now through Exxon.
Lol. Wat. No. If he invested in Exxon, he owns Exxon shares. Not some barrels of oil. Warren Buffet gets a cut of the profit. Not barrels of oil. You read between the lines, well, let me get my crystall ball then :/
are exxon profits not at least partly dependent on the price of oil?
Ironically more VC money for Bitpay can mean higher prices because they can use that VC money to buy Bitcoins.
Bitpay has no interest in holding BTC. They're providing a service, that is all. Bitpay isn't a hedge fund.
That doesn't mean they don't do it regardless. Not that they should or it would be anything sane to do, still that doesn't stop them from doing it.
And they have admitted to play the markets on multiple occasions.
I play the markets as well. For USD profits. Has Bitpay ever said they're hoarding the BTC? I could imagine they'd be wary of taking such risk when their current business model is already profitable.
Ironically more VC money for Bitpay can mean higher prices because they can use that VC money to buy Bitcoins.
Bitpay has no interest in holding BTC. They're providing a service, that is all. Bitpay isn't a hedge fund.
That doesn't mean they don't do it regardless. Not that they should or it would be anything sane to do, still that doesn't stop them from doing it.
And they have admitted to play the markets on multiple occasions.
What is it with threads like this. How come anytime the near term trend turns up at any point, at any reason, at any price, there is always someone asking if we're going to 'test ATH' or 'pass ATH'? How about we focus on passing, like, $900 first?
@boxman90
If Warren Buffet invested in Exxon, would you say he didn't buy any oil? I would read between the lines and say he probably owns at least a few barrels now through Exxon.
If Warren Buffet invested in Exxon, would you say he didn't buy any oil? I would read between the lines and say he probably owns at least a few barrels now through Exxon.
Lol. Wat. No. If he invested in Exxon, he owns Exxon shares. Not some barrels of oil. Warren Buffet gets a cut of the profit. Not barrels of oil. You read between the lines, well, let me get my crystall ball then :/
@boxman90
If Warren Buffet invested in Exxon, would you say he didn't buy any oil? I would read between the lines and say he probably owns at least a few barrels now through Exxon.
If Warren Buffet invested in Exxon, would you say he didn't buy any oil? I would read between the lines and say he probably owns at least a few barrels now through Exxon.
None of the Bitpay connected companies actually get any BTC - they get FIAT. So your whole correlation of "more Bitpay transactions = higher prices" is completely skewed.
And the bitcoins just disappear, never to be seen again. Because it's not like someone didn't buy them when bitpay sold them as part of their service
I give up, not mad just seriously impressed!
I love how you all give up. I never heard of selling BTC on exchanges at market price caused the price to go up. That'd be new.
Ask yourself this, what would you rather own - a bunch of gold or Visa and Mastercard? The answer is obvious, it's much better to own VISA or Mastercard rather than a bunch of gold because then you make money consistently and not only when you sell what you have. That's what the smart investors are after - consistency, not pumping and dumping.
That's just wrong. You're comparing Bitpay to VISA or Mastercard, while VISA and Mastercard deal with USD transactions between persons. Bitpay is essentially a BTC selling company. It's not dealing with buying BTC.
Also, comparing BTC 1:1 to gold? Really? Since when is gold designed as a currency?
Ironically more VC money for Bitpay can mean higher prices because they can use that VC money to buy Bitcoins.
Bitpay has no interest in holding BTC. They're providing a service, that is all. Bitpay isn't a hedge fund.
Ironically more VC money for Bitpay can mean higher prices because they can use that VC money to buy Bitcoins.
None of the Bitpay connected companies actually get any BTC - they get FIAT. So your whole correlation of "more Bitpay transactions = higher prices" is completely skewed.
And the bitcoins just disappear, never to be seen again. Because it's not like someone didn't buy them when bitpay sold them as part of their service
I give up, not mad just seriously impressed!
Bitpay grows if number of bitcoin transactions increase. If number of bitcoin transactions increase, it means bitcoin has become more popular. Bitcoin becoming more popular will mean price will increase.
Also, what you have to understand, is that paying through Bitpay is essentially the same as selling BTC for fiat. Because Bitpay converts the Bitcoin directly to fiat at the current rate so that the companies run no risk. The companies attached to Bitpay couldn't care less about owning Bitcoins. They just want the pool of Bitcoin enthusiasts as a targeted audience to buy their products. Plus free marketing as news sites pick it up. None of the Bitpay connected companies actually get any BTC - they get FIAT. So your whole correlation of "more Bitpay transactions = higher prices" is completely skewed.
I give up dude. But you're wrong
"I can't tell you why, but you're wrong"
I can, I just have better things to do with my time than explain something to someone who doesn't want to understand.
Bitpay grows if number of bitcoin transactions increase. If number of bitcoin transactions increase, it means bitcoin has become more popular. Bitcoin becoming more popular will mean price will increase.
Also, what you have to understand, is that paying through Bitpay is essentially the same as selling BTC for fiat. Because Bitpay converts the Bitcoin directly to fiat at the current rate so that the companies run no risk. The companies attached to Bitpay couldn't care less about owning Bitcoins. They just want the pool of Bitcoin enthusiasts as a targeted audience to buy their products. Plus free marketing as news sites pick it up. None of the Bitpay connected companies actually get any BTC - they get FIAT. So your whole correlation of "more Bitpay transactions = higher prices" is completely skewed.
I give up dude. But you're wrong
"I can't tell you why, but you're wrong"
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