Page 1 of 4 1234 LastLast
Results 1 to 20 of 63
  1. #1
    TravG's Avatar
    TravG is offline Private Member
    Join Date
    September 2008
    Posts
    1,985
    Thanks
    29
    Thanked 164 Times in 118 Posts

    Default Will Bitcoin See a Pop in Price?

    As most know Bovada has moved to Bitcoin payments starting next month and there are several operators that had trouble this month with payments and I actually had them send me Bitcoin rather than waiting for them to resolve their payment issues.

    With that said, as Bovada and other operators move to paying with Bitcoin, do you think we will see a pop in the value of Bitcoin? Just like the stock market it is a supply/demand driven value currency and as more operators have to buy Bitcoin in order to send payments I would think the value would increase. Theoretically it would balance out as affiliates sell their Bitcoin to withdraw them, but I am sure some will leave a balance in their Bitcoin accounts (as I plan to) thus decreasing the supply.

    If more operators move to paying with Bitcoin, it will be quite a bit of money infused into the Bitcoin market. I would think it would be enough that we see some movement in the price/value of the digital currency. Thoughts?
    Live Casino USA - the best USA live online casinos. Play USA online slots and other casino games like USA online blackjack. Like poker? See www.usalegalpoker.com for the best USA poker sites and USA online casinos for the best USA online casino. https://mobileslotslisting.com
    www.usalegalslots.com - www.playusaonlinepoker.com - www.4deucespoker.com

  2. #2
    TheGooner's Avatar
    TheGooner is offline Private Member
    Join Date
    March 2007
    Location
    New Zealand
    Posts
    4,019
    Thanks
    1,789
    Thanked 3,839 Times in 1,846 Posts

    Default

    Some say yes - some say no.

    It will certainly generate a lot more "churn" in bitcoin as operators buy and transfer and affiliate companies sell - which hopefully improve liquidity flow and make the crypto-coin a viable payment medium in more currencies than just the Chinese Yuan ...

  3. #3
    Syndicate is offline Public Member
    Join Date
    October 2014
    Posts
    369
    Thanks
    148
    Thanked 242 Times in 150 Posts

    Default

    I would think paranoia means affiliates won't sit on the currency. If you want to play the futures markets go wager on pork bellies!

  4. #4
    slotplayer is offline Private Member
    Join Date
    September 2006
    Posts
    1,032
    Thanks
    189
    Thanked 322 Times in 251 Posts

    Default

    Your much better playing the stock market, at least you can put in a stop loss order. Can you do that with BTC?

    How reliable are these exchanges? Remember QT/UMW?

  5. #5
    universal4's Avatar
    universal4 is offline Forum Administrator
    Join Date
    July 2003
    Location
    Sinking Faster, just when I thought it couldn't get worse it did!
    Posts
    25,025
    Thanks
    1,506
    Thanked 7,019 Times in 4,469 Posts

    Default

    I can see the price being somewhat volatile for a little while due to increased interest, and the upcoming halving (for mining) is also being debated, like Gooner said some say and increase and some say a decrease.

    I would speculate that the additional interest and potentially many new people trying them out with help the value for a while.

    Rick
    Universal4

  6. #6
    sweetbet's Avatar
    sweetbet is offline Private Member
    Join Date
    November 2012
    Posts
    2,648
    Blog Entries
    5
    Thanks
    819
    Thanked 1,473 Times in 1,021 Posts

    Default

    Quote Originally Posted by TravG View Post
    If more operators move to paying with Bitcoin, it will be quite a bit of money infused into the Bitcoin market. I would think it would be enough that we see some movement in the price/value of the digital currency.
    That's what I think will happen... initially anyway.
    Sweet Bet - Reviews of reputable online casinos, poker sites, sportsbooks & bingo halls
    USA Online Casinos | Canadian Online Casinos | Bitcoin Casinos | Live Dealer Casinos | Free Spin Casinos | US Online Casino Guide

  7. #7
    rouletteguru's Avatar
    rouletteguru is offline Public Member
    Join Date
    April 2016
    Posts
    67
    Blog Entries
    10
    Thanks
    0
    Thanked 16 Times in 13 Posts

    Default

    With the instability of the global currency and possibility of collapse, why would you ever think bitcoin will increase in price? It is a currency based on nothing but perceived value. Like the printed paper. It has no real value.

    Gold, silver etc has value because of perceived value too. But at least it is something that cannot be made from virtually nothing. So it will naturally hold its value more.

    The most valuable thing will probably always be land. It cannot be just made. But there is always supply and demand, along with perceived value. At least its more tangible than computer characters.

  8. #8
    ocreditor's Avatar
    ocreditor is offline Private Member
    Join Date
    April 2009
    Location
    Israel
    Posts
    4,619
    Blog Entries
    1
    Thanks
    5,059
    Thanked 3,363 Times in 2,044 Posts

    Default

    Seems like the first country is going to accept the alternative currency after all:
    http://www.bbc.com/news/blogs-news-f...where-36257465

  9. #9
    eenzoo's Avatar
    eenzoo is offline Private Member
    Join Date
    November 2014
    Location
    Thailand
    Posts
    1,054
    Thanks
    351
    Thanked 751 Times in 459 Posts

    Default

    btw .... the government of ZUG/Switzerland accept Bitcoin for any "official payment" from now.
    Private or Business SEPA Banking Account
    Receive your gambling related payments in hours!
    Pretty low fee´s and your own IBAN.

  10. #10
    wonderpunter's Avatar
    wonderpunter is offline Private Member
    Join Date
    August 2013
    Posts
    2,089
    Blog Entries
    5
    Thanks
    381
    Thanked 1,496 Times in 883 Posts

    Default

    I regularly see quite a lot of big chain stores where i live that accept bitcoin, fact is more and more businesses and individuals are moving towards it people are still skeptical and have been saying it will crash since 2009

    The most valuable thing will probably always be land. It cannot be just made. But there is always supply and demand, along with perceived value. At least its more tangible than computer characters.
    Land value is just as volatile depending on many factors, I wonder what an acre goes for in Aleppo right now? And land is not as easily transferred to cash like other methods, it's also not viable to take payments by per CM of terrain.

  11. The Following User Says Thank You to wonderpunter For This Useful Post:

    justbookies (11 May 2016)

  12. #11
    TheGooner's Avatar
    TheGooner is offline Private Member
    Join Date
    March 2007
    Location
    New Zealand
    Posts
    4,019
    Thanks
    1,789
    Thanked 3,839 Times in 1,846 Posts

    Default

    Quote Originally Posted by wonderpunter View Post
    I regularly see quite a lot of big chain stores where i live that accept bitcoin
    Where do you live? Shanghai?


    I see absolutely ZERO adoption of bitcoin down here.
    Australia is slightly better in Sydney / Melbourne ... but still only about a dozen places ... tough to eat / drink on bitcoin.

    Quote Originally Posted by wonderpunter View Post
    Land value is just as volatile depending on many factors, I wonder what an acre goes for in Aleppo right now?
    Agreed - land is dramatically overvalued in many places - cities - coastal towns with views etc.
    It will ebb and flow over the long term according to many factors.

    In the US I understand many house prices were slashed by 50% or more in places like Florida during the GFC.
    They've now recovered a bit - only to be struggling again as rising sea levels put much of the coastal property at risk.

    Quote Originally Posted by wonderpunter View Post
    And land is not as easily transferred to cash like other methods, it's also not viable to take payments by per CM of terrain.
    Indeed - that's why currency and standard units of commodity trade were invented.

    I don't GET bitcoin as a scarce store of value (I think regular readers know that) it just doesn't make sense to me.

    But I can see that there is some sort of cobbled together method of transferring wealth via fiat conversion in exchanges that will work as long as you don't hold the bitcoins for too long.

  13. The Following 2 Users Say Thank You to TheGooner For This Useful Post:

    -Shay- (11 May 2016), ocreditor (12 May 2016)

  14. #12
    TheGooner's Avatar
    TheGooner is offline Private Member
    Join Date
    March 2007
    Location
    New Zealand
    Posts
    4,019
    Thanks
    1,789
    Thanked 3,839 Times in 1,846 Posts

    Default

    Quote Originally Posted by ocreditor View Post
    Seems like the first country is going to accept the alternative currency after all:
    http://www.bbc.com/news/blogs-news-f...where-36257465
    Not a country - a local canton council ... and mainly because the have a dozen bitcoin companies in their local "canton".

    From the article :
    Mayor Dolfi Mueller says the council wants to show its "openness to new technologies" and cater to local financial technology companies. The area is known as the "crypto-valley", as it hosts more than a dozen companies specialising in Bitcoin-related activities.

  15. The Following 2 Users Say Thank You to TheGooner For This Useful Post:

    -Shay- (11 May 2016), universal4 (11 May 2016)

  16. #13
    DaftDog's Avatar
    DaftDog is offline Private Member
    Join Date
    October 2008
    Posts
    1,702
    Thanks
    409
    Thanked 516 Times in 293 Posts

    Default

    Quote Originally Posted by rouletteguru View Post
    But at least it is something that cannot be made from virtually nothing.
    Most land will certainly hold it's value and more over time. Labour also has value and can be regarded as a type of currency. Intellectual property can be very valuable although it is not made from anything physical.

    BitCoin is mined which uses up a lot of electricity, hardware, software, labour, rent etc. So I don't perceive BitCoin to be made from nothing. If it were then it would be worthless.



  17. #14
    slotplayer is offline Private Member
    Join Date
    September 2006
    Posts
    1,032
    Thanks
    189
    Thanked 322 Times in 251 Posts

    Default

    bitcoin will rise and fall on good and bad news just like stocks.

  18. #15
    FruityJelena's Avatar
    FruityJelena is offline Former AM
    Join Date
    September 2015
    Location
    Belgrade, Serbia
    Posts
    563
    Blog Entries
    1
    Thanks
    590
    Thanked 337 Times in 228 Posts

    Default

    There are even some affiliates, paying most active members in bitcoins. Actually, I work with one such affiliate and find it pretty attractive idea.

  19. #16
    justbookies is offline Private Member
    Join Date
    September 2009
    Posts
    1,282
    Thanks
    516
    Thanked 860 Times in 509 Posts

    Default

    Yes, the general uptake of Bitcoin by the us-facing gambling industry has to help its adoption, usage, turnover, demand and hence price.

  20. #17
    TheGooner's Avatar
    TheGooner is offline Private Member
    Join Date
    March 2007
    Location
    New Zealand
    Posts
    4,019
    Thanks
    1,789
    Thanked 3,839 Times in 1,846 Posts

    Default

    Quote Originally Posted by justbookies View Post
    Yes, the general uptake of Bitcoin by the us-facing gambling industry has to help its adoption, usage, turnover, demand and hence price.
    That's like saying a dollar is worth more because it's used / spent more often ...
    I don't follow the logic ...

  21. #18
    justbookies is offline Private Member
    Join Date
    September 2009
    Posts
    1,282
    Thanks
    516
    Thanked 860 Times in 509 Posts

    Default

    Quote Originally Posted by TheGooner View Post
    That's like saying a dollar is worth more because it's used / spent more often ...
    I don't follow the logic ...
    It is supply and demand. If more people use bitcoin then the value will rise. If Greece had taken bitcoin as its currency (a silly rumour that caused the bitcoin price to spike at the time of their problems with the EU) then its value would have risen accordingly. To me it seems blindingly obvious, but now I see why you are a bitcoin 'hater'! I wouldn't be so positive on it myself if I thought large scale adoption would not lead to a long-term rise in value against other currencies.

    PS: The USD does rise when people who are not using it now start buying it.

  22. The Following User Says Thank You to justbookies For This Useful Post:

    Sherlock (12 May 2016)

  23. #19
    Sherlock's Avatar
    Sherlock is offline Public Member
    Join Date
    December 2013
    Location
    WC
    Posts
    2,945
    Thanks
    916
    Thanked 2,322 Times in 1,285 Posts

    Default

    Quote Originally Posted by slotplayer View Post
    Your much better playing the stock market, at least you can put in a stop loss order. Can you do that with BTC?

    How reliable are these exchanges? Remember QT/UMW?
    Yes they are very reliable (at least some of them). You can have leverages, stop loss. It is the same as forex.
    But short squeezes happen quite often. Those are the red candle sticks up and there.
    We are all bloodsucking ticks, hungry, devious
    each one latched on to the ass of the previous
    when the last and the first latch on it can be shown
    ass-blood sucked by the first from the last is his own

  24. The Following User Says Thank You to Sherlock For This Useful Post:

    slotplayer (13 May 2016)

  25. #20
    Sherlock's Avatar
    Sherlock is offline Public Member
    Join Date
    December 2013
    Location
    WC
    Posts
    2,945
    Thanks
    916
    Thanked 2,322 Times in 1,285 Posts

    Default

    Quote Originally Posted by rouletteguru View Post
    With the instability of the global currency and possibility of collapse, why would you ever think bitcoin will increase in price? It is a currency based on nothing but perceived value. Like the printed paper. It has no real value.

    Gold, silver etc has value because of perceived value too. But at least it is something that cannot be made from virtually nothing. So it will naturally hold its value more.

    The most valuable thing will probably always be land. It cannot be just made. But there is always supply and demand, along with perceived value. At least its more tangible than computer characters.
    This is wrong approach to value hidden in money. Money is defined as
    a medium of exchange
    a unit of account
    a store of value
    a standard of deferred payment

    Money must have all of theose 4 attributes together. The more the better. No money is perfect.

    You are right that there is no inner value of paper money, of bitcoin. The inner value of precious metals is very low. Gold has much higher price now than it should have if it is used only as conductor or so.

    But that is not a problem for money. Money is not a merchandise or investment. What money must be is the best combination of medium of exchange, unit of account, store of value and standard of deferred payment. That is it. This is the only reason why the funny papers called fiat money have value. They are even called "forced circulation" money, because they are papers (or computer numbers) that were originally pushed by states to circulate. And because they were good with the 4 attributes we need from money, they exist. Until now.

    Now we have a problem with fiat money and exactly those problems caused that bitcoin has a value and has potencial maybe to be real money some day. The proble is that money now are stopping to be a medium of exchange. When US government for example goes after gambling transactions, the fiat money can no longer be used and that is why bitcoin starts to be an interesting alternative, because anyone can pay anybody in bitcoins.

    Another reason why bitcoin can be attractive because of those 4 points is "storage of value". Yes bitcoin is volatile. So far. But you maybe read the headlines how central banks want to cause inflation to support growth of the GDP with printing of money. Things can change fast. Then bitcoin can be attractive even as storage of value. There are already countries like Russia, Brazil or Argentina, where holding realtively volatile Bitcoin is less risky then holding a local currency.

    Land in no way can be an example for discussion here. Land is illiquid activum. It does not have standardised units. It has different jurisdictions. There are taxes connected to land. When you pay 1 dollar or 1 bitcoin, you feel the value. But what is 1 acre of land? In Sahara or in SF?

    Last note: very strange example of money were/are cigarettes in was camps and prisons. Nobody made a law it is a money, but yes, it is a money, it has all 4 attributes of money. And although it has some inner value (=it is so called commodity money), the value of the money comes right because it is the best option in prison to hold the 4 attributes.
    We are all bloodsucking ticks, hungry, devious
    each one latched on to the ass of the previous
    when the last and the first latch on it can be shown
    ass-blood sucked by the first from the last is his own

Page 1 of 4 1234 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •