Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 22067. (Read 26608947 times)

Expic example of stupid people that read GAW news. And think omg sell sell sell, bitcoin worth nothing, end of the world... Idiots...

Of course they don't give a flying fuck about bitcoin they just want to milk it as much as they possibly can, that's the free market for ya.

Indeed, the lack of reliable data about the bitcoin economy must be one thing holding back serious investors.

There is only one publicly traded bitcoin company that I know of: DigitalBTC from Australia.  They are the only company whose finances can be examined and trusted, because it has to publish audited financial reports at least once a year.  All the others -- such as Coinbase, Bitpay, Cirle, Blockchain.info, and all the exchanges and miners -- are privately funded, and so they don't have to release any figures (or can release misleading figures, if not outright lies).  

BitPay claims to have over 100'000 merchants, and you say that Coinbase claims 39'000.  Those numbers may well be nominally correct, although there seem to be many merchants that sign up with those companies but do not actually use them because of lack of PoS equipment or untrained cashiers.  Moreover, some of Coinbase's merchants may be former BitPay clients.

But the really important numbers are the volume of e-payments that those companies process, and how much of that is real e-commerce (as opposed to miners paying bills, or other "overhead" traffic.  The companies have refused to reveal those numbers with the excuse that they are "strategic trade secrets" or whatever.  I have seen some evidence that BitPay's processing volume has been nearly constant for most of 2014, and some of it may have been stolen by Coinbase and other new processors.

... don't understand the point of rapidly destroying price and consistently causing so much price volatility that bitcoin will never be widely adopted as a result ... who cares if you have more of something when you're actively decimating the price of the thing and driving people away from it in droves ? ... seriously ... it's like the whale manipulators don't want anyone else to have any coins period and don't care how badly the price needs to be crushed to accomplish this ... the market cannot sustain several $5-$10-$20-$50 drops daily forever ... finex being pummeled the worst at the moment ...

yes i notice that after big sell usually there are big buy, and when there are lack of volume suddenly dump...

Time to buy

Gotta love those cute chinese people, mining all those bitcoin with their cheap electricity and giving them away for cheap. All of this after having paid top notch dollars in 2013.

So the moment has finally come. It's about time the the TA, trendlines and 'wisdom' accrued up to 2014 was pissed all over. If this market was a couple of centuries old all that stuff might count for something. As it stands it's all being made up as we go along and it's good to have a reminder of that.

Well if your theory is true, then I guess we all just have to wait around until China has some amazing bitcoin related news that they DO care about, or they just lose their minds (again) and start a new buying frenzy.

Well, there is a simple explanation: the price is still largely set by the Chinese day-traders, and they don't care for PayPal, Dell, Coinbase, GBTC, Rakuten, the Bitcoin Bowl, ...  They only care about PBoC and other local stuff. 

Sometimes, some overblown rumors in the West manage to lift the price by 50$ or so.  That happened with the "Microsoft will accept bitcoin" rumor, and the Coinbase  "to the moon" pre-opening drama.  But that is it.

So it is not that "good news are bad for the price", but the price is simply dropping, ignoring those news.

That's amazing 

3d MACD red on finex

edit: Oh and price is lower than it was 2 years ago! Bullish? Ohhh u bet!

I get what you're trying to say, but these days everybody sueing everybody for the smallest little thing imagineable... If some merchant wants to scream from the rooftops they accept bitcoin, they can, but it's not BitPay or Coinbase their job.

~5k coins dumped down to $232 on Bitfinex, lets see how much resistance we have around here

Nuff said

So how is the public supposed to know where to go spend their bitcoin right now, hmmm?  Just wander around aimlessly until they accidentally bump up against one of these tens of thousands of merchants?