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Topic: How much wall street money will be pouring into bitcoin now? (Read 3092 times)

legendary
Activity: 1120
Merit: 1000
it's so much good news i expect a crash down to 25 cents... at least that seems to be the pattern

^This. Why? Well every dang time some kind of bigger acceptance of BTC / good news has had a negative price on BTC.

Of course if it even sniffed 10 bucks I would be going all in.


usually good news have little to no effect on prices in a bearmarket.

But of course things might change now that the fall trend has been broken
sr. member
Activity: 1936
Merit: 290
It will take a while for there to be any noticeable difference.  We need success stories rather than Gox stories...
hero member
Activity: 756
Merit: 500
Given the recent drop in the Bitcoin prices and the fact that the media has been talking about Bitcoin every single day, I expect that money will pour into Bitcoin esp from the man in the street.   This will certainly help the Bitcoin to become mainstream and cultivate more users.
legendary
Activity: 1762
Merit: 1011

Outside of speculation/trading, what purpose does BTC serve the average citizen that fiat dollars doesn't?

If given in the future BTC was implemented similar to a currency, what advantages would it offer that fiat currency can't?

The potential value of what BTC and blockchain technology offers is slanted to those who control the fiat I believe. Short of cheaper moneygram transactions, hedging economic inflation a bit, impressing your friends, diversifying investments, etc. it means nothing.


Not everyone has access to the "stability" of the US dollar. Hedging inflation and diversifying investments are great. Do you know how much cheaper MoneyGram and WesternUnion transactions would do for the third world?  You're also completely ignoring the other potential applications of blockchain technology.
hero member
Activity: 490
Merit: 500
One day bitcoin will be so integrated that we will wake up and realize that bitcoin IS the way to go and there is no point for using stupid fiat anymore.
But there is a point; control.

History shows that every power loose their control at some point.

When music and videos started illegally circulating on the internet, the first reaction of the big labels was to fight it.
Now, with YouTube ads, Spotify, NNetflix, etc. they found a way to keep their business up and running.

Same will happen with bitcoin and banks.
legendary
Activity: 1762
Merit: 1011
Casual correlation:

1) Winklevii have long been trying to establish an ETF (COIN)

2) Recently, the Winklevii would like to start a BTC exchange (Gemini)


=> Winklevii may not be as optimistic as they once were regarding COIN, so now they look to start an exchange as a place to put their coins to use.



The Inside ETFs conference is next week, and the Winklevoss twins are supposed to speak more extensively about their ETF plans then. Source: http://www.etf.com/sections/features/23846-winklevoss-bros-beware-bitcoin-etf-risks.html
legendary
Activity: 2114
Merit: 1015
I am observing though, how that may change. The Internet facilitated many things, previously unimaginable. Of particular significance is the massive increase in coomunication potential. I think we are currently living through one of the most significant shifts in cultural evolution *ever*. Consider the normal 'evolutionary' timescale for a species, and then consider the disproportianate speed at which technology has evolved to low us to suddenly be a able to communicate with anyone in the world in any place at any time (thereabouts).

The impact of this will be, I beleive, as obvious and astonishing as the industrial revolution is to today's historians. We are in it now so we can't see it. BTC is just one facet of the integration of man. We're becoming a worldwide nation. Borders must drop. Equality must happen. Monetary equilibrium is one stepping stone. I'm for it, we are all the same. One love.

Great speech!

I don't think the technological aspect of our species can evolve very much longer though. Sure there is room for Tesla's suppressed inventions, anti-gravity based air/space vehicles, time travel, space colonization and conscious computers BUT I think we're approaching the limits of cosmos there. Luckily, some of those higher technological achievements would require us to acknowledge the power of consciousness and will hopefully lead to new endeavours --- the everlasting battle for our personal awareness.
legendary
Activity: 2576
Merit: 1087
One day bitcoin will be so integrated that we will wake up and realize that bitcoin IS the way to go and there is no point for using stupid fiat anymore.
But there is a point; control.

History shows that every power loose their control at some point.

Yes, indeed. I agree. Someone else may (or may not) seize new control, but at the end of the day; it's power and control. It's like how America started. A bunch of guys sick of religious and financial persecution got together, fought and went on to start a new country of their own where they could persecute on religion and financial matters. It doesn't matter who really.

I just hope at least a small part of Bitcoin sees fruition in educating Americans (and other global citizen) what is really happening in the world with regards to money policy and how very slanted the system is. I hope it gets normal citizens charged about educating themselves properly and teaches them to see the bigger picture than if I buy X coin, I could make some money if big money jumps in.

The road to hell is paved with good intentions. By that token, I'm sure the fiat mess isnt necessarily by design.

Im thinking about the pattern of systems arisng through consensus. (A kind of anthropological corollary to software design patterns)

This is a pattern that repeats through human existence. Acceptance of a concept and propagation of its practical implication, leading to who knows where.

This seems natural, as it should for it has been the way of things for millennia. The practical implication of any given system is not at issue, this t would seem to me is the manner in which human evolution at a cultural level has and continues to evolve.

I am observing though, how that may change. The Internet facilitated many things, previously unimaginable. Of particular significance is the massive increase in coomunication potential. I think we are currently living through one of the most significant shifts in cultural evolution *ever*. Consider the normal 'evolutionary' timescale for a species, and then consider the disproportianate speed at which technology has evolved to low us to suddenly be a able to communicate with anyone in the world in any place at any time (thereabouts).

The impact of this will be, I beleive, as obvious and astonishing as the industrial revolution is to today's historians. We are in it now so we can't see it. BTC is just one facet of the integration of man. We're becoming a worldwide nation. Borders must drop. Equality must happen. Monetary equilibrium is one stepping stone. I'm for it, we are all the same. One love.
hero member
Activity: 686
Merit: 500
A pumpkin mines 27 hours a night
I guess we'll be seeing more money flowing in it over the next months and years to come. Also, we'll see both - money invested in start-ups and also directly into Bitcoin. Who knows, the Winklevoss ETF could be just the vehicle Wall Street is waiting for...
sr. member
Activity: 350
Merit: 250
Honest 80s business!
The Gemini exchange and ETF  seems to be just around the corner!

Time to speculate how much money will be pouring into the system and wear seat belts for the takeoff  to moon

It totally depends on what you mean by "into Bitcoin" - it depends if that money goes into companies operating in the Bitcoin ecosystem and offer services, etc. or if the money is being used to buy Bitcoin! The latter has a more direct effect on the price, while the former strengthens Bitcoin's long-term prospects.
hero member
Activity: 672
Merit: 501
it's so much good news i expect a crash down to 25 cents... at least that seems to be the pattern

^This. Why? Well every dang time some kind of bigger acceptance of BTC / good news has had a negative price on BTC.

Of course if it even sniffed 10 bucks I would be going all in.
sr. member
Activity: 420
Merit: 250
I always hear the two different sides.  It goes up with good news and down with bad news, or vice-versa.  I wonder how many Bitcoiners would be willing to sell if the price did jump quite a bit.  Large amounts of money could move price up real fast which could make purchasers reconsider/ slow down.
full member
Activity: 420
Merit: 117
One day bitcoin will be so integrated that we will wake up and realize that bitcoin IS the way to go and there is no point for using stupid fiat anymore.
But there is a point; control.

History shows that every power loose their control at some point.

Yes, indeed. I agree. Someone else may (or may not) seize new control, but at the end of the day; it's power and control. It's like how America started. A bunch of guys sick of religious and financial persecution got together, fought and went on to start a new country of their own where they could persecute on religion and financial matters. It doesn't matter who really.

I just hope at least a small part of Bitcoin sees fruition in educating Americans (and other global citizen) what is really happening in the world with regards to money policy and how very slanted the system is. I hope it gets normal citizens charged about educating themselves properly and teaches them to see the bigger picture than if I buy X coin, I could make some money if big money jumps in.
legendary
Activity: 1372
Merit: 1000
--------------->¿?
One day bitcoin will be so integrated that we will wake up and realize that bitcoin IS the way to go and there is no point for using stupid fiat anymore.
But there is a point; control.

History shows that every power loose their control at some point.
full member
Activity: 420
Merit: 117
One day bitcoin will be so integrated that we will wake up and realize that bitcoin IS the way to go and there is no point for using stupid fiat anymore.
But there is a point; control.
legendary
Activity: 1372
Merit: 1000
--------------->¿?
Casual correlation:

1) Winklevii have long been trying to establish an ETF (COIN)

2) Recently, the Winklevii would like to start a BTC exchange (Gemini)


=> Winklevii may not be as optimistic as they once were regarding COIN, so now they look to start an exchange as a place to put their coins to use.



I hope they are at least diversifying all these Bitcoins into other crypto projects. All eggs in same cryptobasket = bad idea.
Also exchanges are a thing of the past, at least centralized ones.

Sure, diversifying in altcoins that no one cares sounds like a good idea  Roll Eyes

My thoughts:

1) COIN won't get the SEC approval anytime soon; the potential lose of tax revenue for USG is too large currently and not enough regulations are in place (yet)

2) Winklevii know this; why not front run an ETF with your own exchange? They would be the equivalent of the NYSE if eventually they get ETF approval (They'd be their own market mover).

*I really dislike the fact that I see many of BTC's new infrastructure going the way of our current financial system. A great technology is being lost through osmosis of its best parts into a financially and morally corrupt banking system.

Bitcoin infrastructure is going both way. Haven't you heard of Lighthouse, Bitsquare and OpenBazaar? Bitcoin infrastructure being developed both way is good for broader adoption, one for legitimacy and mainstream adoption and the second one for the honeybadgers of this world. All connected with the same currency.

I've heard of only Bitsqare and OpenBazaar; Lighthouse looks neat. I appreciate the tip off.

Just some thoughts:

Bitcoin doesn't need legitimacy, it already has it by merely existing. The idea of Bitcoin is rooted in trust (decentralization), something humans do not intrinsically possess. The Bitcoiners of the world are demanding security and the implementation of trust (regulated processes) because most are speculating on making a profit from it, hence they care about mitigating losses. This is the fault of humans, not the need for legitimacy of the tech.

Outside of speculation/trading, what purpose does BTC serve the average citizen that fiat dollars doesn't?

If given in the future BTC was implemented similar to a currency, what advantages would it offer that fiat currency can't?

The potential value of what BTC and blockchain technology offers is slanted to those who control the fiat I believe. Short of cheaper moneygram transactions, hedging economic inflation a bit, impressing your friends, diversifying investments, etc. it means nothing.

I am not saying BTC is bad, but the technology is being developed by those with money and power (or will be assumed by those with money and power) because the common Bitcoiner is looking to this technology as his/her way out of their measly middle class life.

Examples (Average Joe):

1) BTC exchanges -> NYSE, NASDAQ, FX already exists using fiat
2) Potential ETF -> Derivatives market already exists for fiat
3) BTC NFC mobile payments -> already exists for fiat and with numerous businesses/banks
4) BTC wallets backed by FDIC -> Bank accounts exist with this
5) BTC as hedge for inflation -> Commodities market already exists
6) Fast/low fee transactions -> Doesn't exist (the transaction processors stand to benefit from this way more than the average joe)
7) Buying goods/services -> already exists using fiat

Examples (USG/business/financial elites)

1) Massive fiat revenue from conversion of fiat for IOUs. Little responsibility to customer on the part of the exchange (as of right now)
2) Unbacked digital asset becomes backed by real fiat (free money with no collateral)
3) Data mining gold-mine
4) Front/back and side door monitoring by the USG for taxation purposes, AML, etc. (huge benefit, companies will get kickbacks)
5) Exporting real fiat inflation into a (by then) somewhat stable reserve choice
6) Companies will save fiat money processing digital transactions and still make a profit by "helping the customer" with cheaper rates
7) Customers have vested interest in using BTC. It's like gift cards to them. Once customers buy BTC, they are more apt to spend it as Bitcoin because it is expensive to convert back; hence they are racing to accept BTC.

I see bitcoin being integrated in the actual fiat systems as a good thing for this simple reason, it give bridges for people to jump off from the fiat systems to the bitcoin systems. This is inevitable as there is a lot of money to be made out of this and bitcoin is fairly easy to integrate into the actual payment rails. The more bitcoin is being integrated, the more bridges there are and these bridges doesn't stop people from developing new and innovative bitcoin systems. One day bitcoin will be so integrated that we will wake up and realize that bitcoin IS the way to go and there is no point for using stupid fiat anymore.
legendary
Activity: 3668
Merit: 6382
Looking for campaign manager? Contact icopress!
Well... officially it would be (nearly) 0.
And the unofficial amounts we never knew and will never know.

Much less than you'd expect, however, because the altcoin market can also be seen as a potential investment, maybe even better than bitcoin. Sorry if this hurts the self-esteem of some bitcoiners..

ALL altcoins have slowly been bleeding out since early 2014.
You shouldn't expect to be taken seriously with a sentence like that Wink

The price is not the only reason to invest. Features, advertising, communities or trading volumes also attract...

Maybe I am wrong. Time will tell.. but your "argument" is.. missing.
full member
Activity: 224
Merit: 100
Real talk

NOBODY KNOWS FOR SURE
full member
Activity: 420
Merit: 117
Casual correlation:

1) Winklevii have long been trying to establish an ETF (COIN)

2) Recently, the Winklevii would like to start a BTC exchange (Gemini)


=> Winklevii may not be as optimistic as they once were regarding COIN, so now they look to start an exchange as a place to put their coins to use.



I hope they are at least diversifying all these Bitcoins into other crypto projects. All eggs in same cryptobasket = bad idea.
Also exchanges are a thing of the past, at least centralized ones.

Sure, diversifying in altcoins that no one cares sounds like a good idea  Roll Eyes

My thoughts:

1) COIN won't get the SEC approval anytime soon; the potential lose of tax revenue for USG is too large currently and not enough regulations are in place (yet)

2) Winklevii know this; why not front run an ETF with your own exchange? They would be the equivalent of the NYSE if eventually they get ETF approval (They'd be their own market mover).

*I really dislike the fact that I see many of BTC's new infrastructure going the way of our current financial system. A great technology is being lost through osmosis of its best parts into a financially and morally corrupt banking system.

Bitcoin infrastructure is going both way. Haven't you heard of Lighthouse, Bitsquare and OpenBazaar? Bitcoin infrastructure being developed both way is good for broader adoption, one for legitimacy and mainstream adoption and the second one for the honeybadgers of this world. All connected with the same currency.

I've heard of only Bitsqare and OpenBazaar; Lighthouse looks neat. I appreciate the tip off.

Just some thoughts:

Bitcoin doesn't need legitimacy, it already has it by merely existing. The idea of Bitcoin is rooted in trust (decentralization), something humans do not intrinsically possess. The Bitcoiners of the world are demanding security and the implementation of trust (regulated processes) because most are speculating on making a profit from it, hence they care about mitigating losses. This is the fault of humans, not the need for legitimacy of the tech.

Outside of speculation/trading, what purpose does BTC serve the average citizen that fiat dollars doesn't?

If given in the future BTC was implemented similar to a currency, what advantages would it offer that fiat currency can't?

The potential value of what BTC and blockchain technology offers is slanted to those who control the fiat I believe. Short of cheaper moneygram transactions, hedging economic inflation a bit, impressing your friends, diversifying investments, etc. it means nothing.

I am not saying BTC is bad, but the technology is being developed by those with money and power (or will be assumed by those with money and power) because the common Bitcoiner is looking to this technology as his/her way out of their measly middle class life.

Examples (Average Joe):

1) BTC exchanges -> NYSE, NASDAQ, FX already exists using fiat
2) Potential ETF -> Derivatives market already exists for fiat
3) BTC NFC mobile payments -> already exists for fiat and with numerous businesses/banks
4) BTC wallets backed by FDIC -> Bank accounts exist with this
5) BTC as hedge for inflation -> Commodities market already exists
6) Fast/low fee transactions -> Doesn't exist (the transaction processors stand to benefit from this way more than the average joe)
7) Buying goods/services -> already exists using fiat

Examples (USG/business/financial elites)

1) Massive fiat revenue from conversion of fiat for IOUs. Little responsibility to customer on the part of the exchange (as of right now)
2) Unbacked digital asset becomes backed by real fiat (free money with no collateral)
3) Data mining gold-mine
4) Front/back and side door monitoring by the USG for taxation purposes, AML, etc. (huge benefit, companies will get kickbacks)
5) Exporting real fiat inflation into a (by then) somewhat stable reserve choice
6) Companies will save fiat money processing digital transactions and still make a profit by "helping the customer" with cheaper rates
7) Customers have vested interest in using BTC. It's like gift cards to them. Once customers buy BTC, they are more apt to spend it as Bitcoin because it is expensive to convert back; hence they are racing to accept BTC.
sr. member
Activity: 314
Merit: 250


They're getting old Cheesy time speeds up lately.

omg they wear almost same clothes too, this is borderline freak, surely will scare a lot of potential investors.

How will potential investors know the twins have not swapped places? It could put them off if the twins keep wearing the same clothes.
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