Wall Observer

[Norway]

I'll brag some more:
Now, I have made coinatmradar.com aware of the Czech republic. You can buy bitcoin in every post office in the country. The map is here:
http://www.supercash.eu/terminaly

My big point here, is that the service done by specialized bitcoin ATMs (BTMs) is better done by existing infrastructures and networks.

Go to coinatmradar.com and tick of that tiny, little checkbox that is not checked by default. Called "Other services". That is where the magic happens!

If anybody wants to read my theory about inside out/inverse bitcoin remittance, let me know. It's very simple, yet very good

EDIT: According to coinatmradar, the bitcoin service at czech post offices is not operational.

 

[Inca]

Let's hear the theory norway

 

[Norway]

He he @Inca , here we go:
Most entrepeneurs in bitcoin space talking about remittences, love to say this sentence:
"They don't even have to know that bitcoin was involved when they transacted the money!".

This Western Union like model is adopted by many new bitcoin remittence services.
The sender pays a company and provide ID of the receiver in some form. The company sends bitcoin and ID info to a branch/cooperarating company in the receiving country. They pay out to the receiver based on ID.

I think it's better done "inside out". Just make it easy to buy bitcoin in the sender country and easy to sell bitcoin in the receiver country. And send bitcoin directly from the sender to the receiver.

This has many positive sides. The receiver has a lot more options. He can choose to exchange for local currency, spend bitcoin locally or save/speculate in bitcoin.

The receiver doesn't need ID. In poor countries, many people have no way of identifying themselves.

The receiver doesn't have to meet up at a certain company branch to exchange to local currency.

The receiver can profit from the extreme growth of bitcoin value in the years ahead if saving. Volatility is not bad when price is going up!

A good "Off ramp" system like they have in Thailand (sell bitcoin for local currency in 9000+ ATMs and every 7-Eleven) make a more closed loop system in the receiving country possible. The man at the market selling chicken will accept bitcoin when he knows that he has the option to exchange it to local currency at the nearest 7-Eleven. But he might choose to save them. Or buy some vegetables for it. Or pay the rent for his appartment.

 

[AdrianX]

Looks like some notable profit taking today, any brave predictions as to the direction this week?

My money is on another boom 2 weeks from now.

 

[solex]

Huobi now $13 below btce!
These Chinese sure know how to do greed and fear.

I am not thinking that we will see another boom so quickly, probably a steady climb back to about $400 by the end of the year.

 

[Peter R]

I'll be buying more today or tomorrow if my latest funds transfer ever shows up.

I don't see us dipping much below $300 and then my guess is that we'll fairly quickly bounce back near $400. From there I see a slow climb through the winter and into the spring and an explosion in Q2 or Q3 2016.

Disclosure: this is complete speculation

 

[theZerg]

I figured $350 before this mini bubble popped and I'm sticking with that. But unfortunately its hard for me to get my finger on this action because I'm not in China. Its very difficult to determine how many came for the gambling and are getting converted and how many are just gamblers.

 

[Zangelbert Bingledack]

My intuition is that this is just a pause in the surge and we'll be above $500 within a week, as crazy as that may sound.

 

[Fatman3002]

@Zangelbert Bingledack

That sure sounds crazy, but I hope you're right.

 

[Inca]

Sometimes i am disappointed in bitcoin. But i have gained double digit coins with my trading stash so if nothing else I should be happy with that.

 

[Fatman3002]

@Inca

I'm not disappointed yet, but if it breaks below $280... there will be hand gestures.

 

[Norway]

Gestures like this, @Fatman3002 ?

 

[Norway]

@Inca @Fatman3002
The worst case scenario to me is 3 months of flatlining. That shit just sucks the life juice out of your balls and brain. Not very likely, though...

What I really want to see, is a cynical, brutal, bloody power war on the testnet between Core & XT

 

[Fatman3002]

@Norway

 

[Zarathustra]

300 is the new 200 !

 

[JayJuanGee]

I'll be buying more today or tomorrow if my latest funds transfer ever shows up.

I don't see us dipping much below $300 and then my guess is that we'll fairly quickly bounce back near $400. From there I see a slow climb through the winter and into the spring and an explosion in Q2 or Q3 2016.

Disclosure: this is complete speculation

hahahahahaha...

Don't you know by now that almost nothing is slow in bitcoinlandia.... there seems to be just way too much
legitimate volume at the moment and way too much underground rumblings in the bitcoin space at the moment to reasonably predict short-term slowness...

In that regard, if we begin to experience a bounce back too much towards $400, then word is going to get out... which is going to cause more trouble and more upward price pressures that are more difficult for bears to contain. In that regard, there seems to be a reason that bears have a considerable incentive to push prices down to keep matters manageable predictable and practical for themselves in their mini-price-manipulating-monopoly. They also seem to be incentivized to keep prices down because it becomes more and more expensive to attempt to manipulate the higher the prices rise.

Yes, surely a 20 to 100 times increase in the market cap is going to be necessary to lessen some of this ongoing price manipulations - and admittedly bitcoin price manipulations are never going to go away completely.

Accordingly if bear manipulators are unsuccessful in driving prices down, they are going to likely throw quite a bit of resources at attempting to keep prices flat or to minimize any rises in the price. Thus seemingly ongoing volatility in the short-term.... that makes for less likelihood that your prediction is going to play out in the short term. Sure you could be correct, but it really seems not too likely.

We will see, no?

 

[solex]

I sure love Bitcoin!

Thank you Mr Whalespike for a nice $350 while taking it easy on a Saturday night. Of course I can feel comfortable with my profit made on a legitimate exchange, by not using the scummy piece of junk that is Gemini.

As I mentioned earlier on reddit:

Gemini has proven itself to be untrustworthy.

Trade reversals must only happen when there is an exchange technical error. Not because of noob trading and fat-finger. Ripoff fiat exchanges often play this stunt protecting the TBTF bankster traders. The last place this is needed is on a Bitcoin exchange.

 

[Zangelbert Bingledack]

My intuition is that this is just a pause in the surge and we'll be above $500 within a week, as crazy as that may sound.

Looks like I missed this one, though I have a feeling it could still happen in a few more days.

Another possibility would be for it to trend sideways for another month or two and then commence liftoff (based on the familiar historical pattern where it booms, damped oscilations, stabilizes for a long time, then rockets again).

 

[Erdogan]

Here is my thoughts about the spread between finex/stamp and the chinese bourses.

I) The large spread of up to 50 USD between Huobi and stamp coincided with something that could have been an attempt by the peoples bank of china to revalue the CNY last week. Bitcoinwisdom used the official value, but chinese traders could have sensed that the actual floating value of the yuan was lower, hence the spread.

II) If so, traders on the dollar/BTC pair could have misjudged the CNY/BTC prices, thus triggering the spike to 252 last week.

 

[JayJuanGee]

I sure love Bitcoin!

Thank you Mr Whalespike for a nice $350 while taking it easy on a Saturday night. Of course I can feel comfortable with my profit made on a legitimate exchange, by not using the scummy piece of junk that is Gemini.

As I mentioned earlier on reddit:

Gemini has proven itself to be untrustworthy.

Trade reversals must only happen when there is an exchange technical error. Not because of noob trading and fat-finger. Ripoff fiat exchanges often play this stunt protecting the TBTF bankster traders. The last place this is needed is on a Bitcoin exchange.

Yep. soon after they communicated such trade reversal affecting me, I wrote Gemini about my particular trade reversal, and I requested to be made whole for such reversal and that they agree to never reverse trades again under such circumstances of customer error (unless there is some real good justification for such).

In the past couple of days, Gemini wrote me and said that they are still considering my request... so, I will see what I will do next? I may remove my funds from their exchange? I'm not sure, yet about what I am going to do, and in part, I am wanting to see what they say before I do anything further.

In the meantime, I did discontinue posting trades with them, except to follow through with a few minor outstanding orders...