Huge sell wall at 0.2
somebody is anticipating something??
All these huge sell orders high up in the book (>0.01 btc) make it look like there is a lot of sell resistance, but below 0.01 btc there is hardly anything..
somebody is anticipating something??
All these huge sell orders high up in the book (>0.01 btc) make it look like there is a lot of sell resistance, but below 0.01 btc there is hardly anything..
0.2 btc is a very simple calculation
number of URO = 1,000,000
worldwide yearly production = 184,000,000 tonnes
Therefore world market is 184 times bigger than URO supply
take the lowest trading price ever on Bittrex since launch....say 0.0025 and multiply by 184 = 0.46 btc
so 0.46 btc is the potential price for each URO which makes sense because 1 tonne urea is approx $300.....at current bitcoin price of $625, 0.46 btc = $288 (close enough to the true price of 1 URO)
obviously this is a theoretical calculation. 100% of the world market will not be using URO for buying/selling urea in 6 months to a year....50% would be a conservative bet which is 0.23 bitcoin.......I'm putting my sell orders up at 0.2 bitcoin which 1 URO will hit before January 2015
In 5 to 10 years (once 100% of the world market uses URO) the price per URO will be 0.46 bitcoin assuming bitcoin price remains at $625 which it won't....you get the idea though
