Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

I agree, the problem now is fiat transfers to exchanges and whether the exchanges can cope: BTCe has a dubious record; Gox is a nightmare all round; Stamp has failed this week; no volume on Coinmkt. The list goes on - its the fiat interface that hampers crypto adoption.

Indeed. I'm trying to get money into bitcoin RIGHT NOW, and I just can't do it. And that's with me having a verified account at Gox and Coinbase. No coins, or 7-10 day international wire transfer? Hmmm. Well this blows.

Keep checking Coinbase. I was able to buy last night, price lock-in and all.

Coinbase has a daily limit that THEY can buy, and a daily limit that YOU can buy from THEM. Since few with coinbase accounts are selling their coins, they run out. Two days in a row, today they were out by 9:30 pacific time. If you can hit them up between the time they buy and when they run out, you can buy with a lock in, otherwise you get whatever price it happens to be when your money arrives from the ACH.

How do they calculate how many bitcoins you will get if they don't get a buy price until after you ACH money has arrived?

They wait until your money arrives and then put you in the queue for when they do their daily coin buy. You agree to this unknown price when you send them the ACH... and still they are selling out, every day...

I think Goat called it when he observed that the bull run isn't over, it is just being throttled by fiat constraints.

So lots of people are waiting on bank transfers which is creating a huge influx of money?