Post
Topic
Board Bitcoin Discussion
Re: Overstock.com's News on Accepting Bitcoin, Underwhelming Price Boost.
by
mpattison
on 10/01/2014, 01:47:50 UTC
As the title says, seems like people were expecting some lunar performance, but got some down-to-earth performance.

Do you think that Overstock.com's acceptance was a significant thing for the price of bitcoin? If yes, let us know.

Price dropping at coinbase should be expected if Overstock is converting to dollars immediately. it's effectively a big dump of coin. could be a good buying opportunity.


Pretty much this.
Because OS doesn't hold the Bitcoin, it's flipped immediately for $ (we must assume) and this causes a drop, not a climb!