Apart from significant downward pressure from miners, I think there's a real possibility it was just overvalued. Lots of good news is probably putting the breaks on, but don't underestimate the effect MtGox might of had on the market value of Bitcoin via Willy.

https://www.paypal-community.com/t5/...cy/ba-p/828230

Very bullish, excellent quick find. Market rallying a little right now.

Language suggests we can expect to see pretty deep Paypal/Bitcoin marriage in the future at some point. Excellent news.

Hoping this news pushes Bitcoin up enough to trigger a short cascade.

Currently hitting $440 on Stamp, shaping up to be most significant rally in the last few months.

Edit: Touching $450... wondering how far this can go now.

So I should have bought when I posted

If I were to buy, in a very short answer, what's the best btc marketplace to use? By best, I mean least risky, least hassle to do transactions with. I'm not looking to do anything shady, no gambling, no purchase of questionable stuff with it whatsoever, just want the safest and most solid exchange to buy/sell.

the answer depends on where you live. if there is an ATM, its fast and easy. coinbase is likely safe, and slow. exchanges? depends where you live and how much kyc/aml verification you want to go through. i used to like in person trading on localbitcoins, but stopped once more regulations came out for my area.

If you can, you should use Bitstamp imo. If you can't then I would recommend Coinbase. The other exchanges like Kraken etc are probably fine, but you should know what you are doing.


Todays 12% insta-jump seems a bit over the top? Paypal had said this before and they have just started small? Whatever, if this is what it takes for people to be bullish, media report and more people learning about Bitcoin I am all for it!

Circle is probably really good as well.

Starting to read some articles about bitcoin.

Not all articles about BTC are like this, but basing a whole article on an interview of someone who has a large % of their net worth in BTC seems a bit silly. It's like asking a used car dealer w/ a bunch of old honda accords what he thinks the price of old holda accords should be. Of course he is going to say 3-4x what he really thinks they are worth (which is already 2x more than they are really worth).

http://www.coindesk.com/tim-draper-b...ll-headed-10k/

#mixingthekoolaid

BTW, the whole "BTC is going to steal western Union's market share to send money back to their families in Africa" is a tab bit optimistic for me. This assumes that paypal, banks, and other financial institutions don't come up w/ new technology to do this safer and quicker. The price of BTC fluctuates way too much to get too much of the market share of this.

If the banks come up with a way to do it safer, quicker, and cheaper, then "we" win anyway. Not to mention that a service like Paypal simply cannot do it at all because of chargebacks and whatnot.

+1, banks are so ****ing **it if Bitcoin forces them to up their games in any way then it's a form of victory.

I'm not sure how many coins he actually has, but since he's worth a billion dollars I doubt it's a large % of his net worth. It's also nothing like asking a used car dealer what his cars are worth.

$200 Million Dollars of Bitcoin is going to be bought by this GABI Hedge Fund. Seems like it could be pretty huge for increasing the price. Although the purchases will all be over the counter.

http://bitcoinpricelive.com/hedge-fu...itcoin-buying/

Need money on Pokerstars/Neteller/Skrill for BTC?

Send me a PM

I'm buying the coins at Bitstamp rate, I have a good trading history on bitcointalk.org

I read the article. It says they are planning to buy 400,000 BTC over the counter through http://www.digitalbtc.com/ That is 3% of the total BTC in circulation. How are they going to buy that much without using an exchange and without any slippage? Even if they bought all of the seized silk road coins that will come up for sale at auction they still would only have 140,000 BTC.

I think they are expecting some price slippage along the way, and maybe a lot of it, so the total may not end up being 400,000 coins.

Probably partner with Coinbase/Bitpay and buy up all the coins that people sell to "support merchants".

I see where a Leawood Kansas provider of bitcoin mining equipment has been shut down by the FTC.

http://www.kansascity.com/news/busin...le2218377.html

I think I'm going to be unwinding my short positions today. Paypal is actually worse for price but the media hype of this may start trickling into new buyers. I'm not 100% yet but its very likely.

LOL Butterfly Scams. Saw them at a conference this year, they were basically ignored by everyone. Presell your miners, never deliver, spend all the cash on hookers and blow. Solid business model.

Thank you.


I have another question not sure if you could answer or not or if anyone can answer. But i like to get some bitcoins so i could bet at some sportsbooks such as 5dimes. I know you deposit bitcoin there and thus its instant and whatever bitcoin amount you deposit, thats going to be the balance on the sportsbook account. Isn't this a great way to get funds into a sportsbook like 5dimes as they say 25k is the max one could deposit via bitcoin? You could withdraw via bitcoin as well. But if thats the case, does anyone have advice on when is the best time to withdraw the funds from a sportsbook to their bitcoin wallet? Do you do it when the bitcoin price is low or high? Example you deposit 10k worth of btc into 5dimes and then say balance is 13k. You want to withdraw about 2k thus thats about 5 BTC. Do you wait till its high or low?


Has anyone used BTC for those bitcoin sportsbooks? I heard of nitrogen sports and you bet with btc. Example let say i have 10 bitcoins worth $4000. I deposit that into nitrogen so i have 10 bitcoins. I make some wagers after a bit and my 10 bitcoins are now 12 bitcoins. Now let say i want to withdraw the bitcoin to my wallet. Its obviously best to wait for the bitcoin price to go as higher as possible before you withdraw to your bitcoin wallet assuming you want to turn that into cash in your bank as soon as possible right? Thus depositing bitcoin into a sportsbook like 5dimes vs bitcoin sportsbook would be completely different?


The thing with bitcoin sportsbook is everything is fluctuating. I mean if you are betting say 500 dollars a game normally, you suppose to make every bet 1.25 bitcoin per bet? Then once bitcoin goes up... then you change the bitcoin amount size every time? Im curious if any serious sportsbettors are betting with bitcoins because this seems to be not good b/c its always changing.


Another question. Say i have 10 Bitcoin and their worth $4000. I make some wagers for the game in the sportsbook bitcoin one. At end of day, i have 12 bitcoin instead of 10. I want to withdraw theses funds to my bank account. Lets assume assume the bitcoin price is roughly the same $400 as when i deposited though this would almost never happen. So now i have $4800. How much will i have left after i convert this money to my bank account? Someone mention theres few ways to convert it such as bitstamp and other options but wondering whats the best for someone that wants to bet sports and also want to withdraw soon.


Also is it true lmost of the sportsbettors in bitcoin withdraw their balances almost everyday as there basially are not transaction fees? Thus no pt in keeping bitcoin in the sportsbook and once you done with your wagering, you could just withdarw it back to the wallet, then next day deposit the amount of bitcoin you need for your total wagers? That would seem excessive but how much are the fees exactly as someone said there are fees for depositing/withdrawing but how much is it and are there ppl doing this daily? Seems pretty silly for anyone to do this unless they need those btc in other sites.

If you don't want to be exposed to price fluctuation, then choose the sports book that immediately converts your deposited bitcoins to dollars. Then if you withdraw in bitcoins, sell them back to dollars each time. You'll have figure out whether the fees are lower, and the process is easier than just using dollars to begin with.

Otherwise, it is incredibly easy and cheap to just hold a lump of bitcoins and gamble with them without selling them any time soon. They will probably be worth a much different amount if and when you do sell them. You seem to want to spend your winning in dollars immediately so that might not be an option.

How do you know if the price is high or low?

Who do they think they are? An online poker site?

Why would anyone that holds bitcoin want to exchange them for dollars when gambling? If i am gambling with bitcoin, i expect that all winnings be paid out in bitcoin regardless of the current bitcoin price.

Figuring out whether fees are lower is the least of your problems. The process of exchanging dollars to bitcoins to sportsbook dollars in order to gamble would be a pain in the ass compared to straight up using your credit card and betting with dollars. If you think that circlejerk of dollars to bitcoins to dollars is easier than straight up bitcoin betting, you're crazy.

Take a look at bitbet.us to see how bitcoin betting is done right. No signups, no email, no personal details, no accounts, no fiat and payouts are sent straight to your nominated address.

With the inevitable price rise of bitcoin, it makes zero sense to use it to facilitate fiat bets. Even if you place a winning bet, you're likely to lose bitcoin during the time you held sportbook dollars. The general rule is if something is denominated in dollars, it's a losing proposition to invest or gamble bitcoins in it.