Topic: Monday Afternoon (US Time), Where is this this big phucking 'announcement'? (Read 4736 times)

Better than that nascar thing dogecoin did 

The announcement was the ESPN announcement.

I'll allow you to determine if you agree that its bigger than Expedia.  

http://online.wsj.com/articles/bitpay-to-sponsor-st-petersburg-bowl-in-first-major-bitcoin-sports-deal-1403098202

So yes - it was a legit rumor.   I try not to waste time with non-legit rumors.  But this "chatty cathy" (thanks Jeff lol) always keeps his secrets!

-B-

Might this be the delayed announcement?

http://www.coindesk.com/new-york-holiday-inn-launches-bitcoin-payments-trial/

Maybe "buy on rumors sell on news" effect. Insiders know about acceptance long before us and buy BTC, so people ask "why BTC is rising without any news", then they just sell on news.

I'm guessing that eveytime a company starts accepting bitcoins it is linking bitcoin to a product/service that has value. Everytime this happens bitcoin becomes a bit less speculative (Hey, a bread costs 1. So 1 is worth a bread. No way I'm paying 10 for it and I will buy 10 breads for 1 any day).

That could be a stabilizing factor on bitcoin. And a stable bitcoin is less interesting for speculators. So they're hopping to something more speculative for a while.

I'm not a specialist in any way though, so just my 2 cents. (though tomorrow they may be worth 100 times more or less!)

Every time a "big" company announces bitcoin acceptance, btc price drops. What do insiders know that us regular folks don't?

Most of those companies you listed sell their goods to retailers instead of directly to customers, so they wouldn't benefit right now from adopting BTC. Either way, without new people and fresh fiat coming into BTC, I don't really expect news of a company accepting BTC to affect the price much in the short term.

Can you say if the company is in this list?

Monster Beverage Company
Harley Davidson
Under Armour
Electronic Arts
Dollar Tree
Whole Foods
IKEA

Edit: Yeah, I guess IKEA fits the profile pretty well too.

Just having fun....

+1
OMG,daytrading
hodl not tradl

Wait.. I  can go to Ikea and buy shit with BTC now..  I no believe, no announcment or I'd go buy some lights.

I wish I could see the future with your clarity!

No, in five years I will definitely be OUT OF BITCOIN. I only plan to stay until the 2017 big bubble (mania phase). After that there will be only bagholders.

This is the process by which Bitcoin goes to $40,000.   But you don't care because all you want is to day trade for a $10 gain before Friday.

You're going to kick yourself in the ass in 5 years when you realize you could have been buying and holding for the real value increases.

As long as I don't see a direct link between this (and other adoptions) and speculative fiat on the exchanges, I don't give a damn.

+1

I know overstock.com adoption was relevant. And I can see (by their turnover) that Dish Network is really big.

But Expedia is the first company that I myself knew before the anouncement and had used, and that I've seen ads for in real life.

In terms of exposure on the Internet, this one is bigger than the previous two, at least for a certain demographic. That is, if they place a visible "you can now pay with Bitcoin" sign on their checkout webpage.

If you lack the basic understanding of "Network Effect" and why its relevant that major merchants are accepting Bitcion, then do some research and learn about it.

Don't troll around the forums saying this is no big deal, when everybody knows that it is.

Sorry for being snarky but you are saying something that makes zero sense.

-B-


Definition of 'Network Effect'

A phenomenon whereby a good or service becomes more valuable when more people use it. The internet is a good example. Initially, there were few users of the internet, and it was of relatively little value to anyone outside of the military and a few research scientists. As more users gained access to the internet, however, there were more and more websites to visit and more people to communicate with. The internet became extremely valuable to its users.

That didnt answer the question. I know what Expedia is.

I dont see why Expedia is a big deal. So this one is 1.3x the market cap.. ok. Is it Amazon? No. Target? Walmart? Ofc. not.

Why would this do anything for Bitcoin?

I'm guessing the other announcement is Warner Brothers, or something similar.  Just a pure uninformed guess, the market cap seems about right.  

Do I get a prize if I'm right?  

I'm not really seeing a big impact from IKEA accepting Bitcoin at this time, beyond the immediate PR for Bitcoin of course.

Expedia is not the announcement.

There is another big one coming.

If you read what i wrote in the 3-4 messages i wrote on this, you would have seen that it was a BitPay conference call.

Expedia is with Coinbase.

Expedia is huge.  And notice - the price hasn't budged.  

--------------

I just met with Jeff in person, five minutes ago at the Clevelander Hotel to give him a batch of yBitcoin magazines to put in the lobby of the hotel.

The information was given to me in confidence, but I can confirm that its legit.

As for "how big" - i can finally give you an intelligent analogy.

Expedia announcement is huge.  And in light of that announcement, this company may make you scratch your head as to why they're better for Bitcoin.

But the key is, they're a big company.  

Expedia's value is 8.8 Billion.   This company's value is more than 11 Billion.

Its just a *completely* different demographic.   And I think they have their hands dipped into several commercial interests.

Either way - these two companies in one week will likely be Bitcoins biggest "Merchant Adoption Week".

-B-

I hope the PR does the trick.

I guess it's not just bullish in and of itself that the online media headlines smear "Expedia to accept bitcoin!" broadcast to tens of millions of new people who have heard of bitcoin but have never bought any?  Or to tens of millions of new people who have never heard of bitcoin, but see these news headlines for the first time?  How do you think the bitcoin userbase grows, by magic?

As I said 2 days ago, I don't know why this is that big a deal.  They already had a payment processor for them that accepted Bitcoins.  This just pulls that into their own company.  Anyway, I'm hoping this means they actually stick Bitcoins as a publicly-visible option on their main website.  Otherwise, nothing changes.

lol a true rumor? I'm impressed 

Jup. That's the news.

Sorry Mat for the earlier comment... Guess once in a while, a "source" can be right...

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.

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

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/

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

Perhaps this is the beginning?

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

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.

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...

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.

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.

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.

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.

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

And BOOM! market crash! LOL! 

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-

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?

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

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.

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.

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

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

So wonderfully random

Also FTFY.

No problem to believe.
Just don't risk too much on the information and it should be fine

I am Dundee United fan (Scottish football team).

Once upon a time, my mate met a bloke in a pub, who reckoned that his brother was engaged to a certain football players sister, and could confirm that this football player, 'David Goodwillie', had just agreed terms to sign an on loan deal with Dundee United. This was something that was rumoured at the time but considered to be generally beyond the realms of all likelihood.

The following week, David Goodwillie signed for Dundee United. Turns out that the bloke in the pub was telling the truth although we never actually believed him at the time.

Just saying.

Could it be this visa guy as compliance officer at Bitpay? As if compliance officer appointment is in some way exciting.

Roger that.  I just instructed my trading desk to move our entire fixed income portfolio into Bitcoin as quickly as possible.  I have negotiated a mutually agreeable price with GHash.io, and funds are en route via bank wire.

If you are going to believe what a random bunch of us say about BTC... you're gonna have a bad time.

Never believe anyone ever about anything, .

The mother of my sister's boyfriend once met a priest in Slovakia who had a friend who once heard her father say "Cena sa nikdy klesnúť" 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.

I was not aware of any rumors (of course you probably have more links to news articles then i do - i usually use coindesk, reddit, google news and slashdot) where did you hear the rumor?

edit - you answered chalkbot above me

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.

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

I kind of think that 'erosion of buying support is exactly what I am picking up at the moment. However, your other comment is also very valid speaking from my own experience. Three times have I bailed out near the upper reaches of this pennant, only to find that I either couldn't time the bottom or didn't trust myself to have timed the bottom well, and then found myself to have bought right back in near or even above where I sold in false break-out attempts/scenarios. In short, I have been losing money in my attempts thus far to avoid corrective action but be sure to be onboard for any upside break out action.



If you have enough market clout and expertise, the squeezed out longs who are being forced to sell their Bitcoins may well end up selling the lionshare of them to you, before you take the weight of the market and allow it to rise again. That means the 'short squeezer' hits the bottom perfect as they have buying and selling power to ensure the market is pushed down to level where they are happy to accumulate panic sold margin called Bitcoins.

Who would go out of their way to squeeze out the longs on margin, only to have the same amount or more open/re-open since the point of entry would be lower?

Good choice.

Whatever happens next won't hurt the holders more than it will hurt bears that get their timing even slightly wrong.

I'm usually not timid and don't like sitting out entire swings, but right now I'm pretty sure that what we're about to see will either be a continuation of the rally or what the kids like to call a bear trap.

Which is bullshit of course. A bear trap is just a profit opportunity for those who time it right. The name is solely there to account for the fact that timing is trickier. A lot trickier.

The only real bear case I see is a slow trickle down. Erosion of buying support, etc. And that takes time to develop, and you'd be able to pick it up early enough.

Quote me on this, if you want.

What a remorse for going long!!! Don't be such a bear!!!

SELL SELL SELL!!!

Yup.

Are you still long?

Won't go anywhere without Stamp and the only exchange that shifts Stamp is Huobi.

Stabilize at 550-650 for a month. Kill the margin traders.

BFX just made the first spike up 

I have been reading rumours of a big game changing announcement due to be getting made Monday Afternoon, Eastern US time.

So I guess Monday afternoon has and almost gone in the eastern US and there has been no news release or statement of note regarding Bitcoin?


Although there are bullish indicators such as the pennant we have had right at the end of this rather sharp rise up (bullish in theory anyhow) and there is the bullish divergence between higher lows in BTC price and lower lows in the RSI, I have to say that the market is feeling kind of heavy right about now. Also the maxed out state of the Bitfinex longs doesn't fill me with hope for the immediate term. Leveraged traders aren't long term investors/holders. Leveraged traders are looking to make a quick buck from market momentum. Even if Bitcoin does have the prospect of new ATH in the coming months, big investors must surely be looking at the state of the leveraged long positions and thinking, "Like hell am I buying into that to have these fuckers cash out on my ass!"? If I was them, I would be looking to use my market clout to try and squeeze these longs out of their trades.

In a quandary as what to do. A text book correction from here would be to mid $500s. Fuck holding Bitcoins bought in mid $600s through a correction like that. I notice also that all the market 'weight' is coming through Stamp. If Stamp were to be magically erased from the market for a week I think Bitcoin would go right up from here.