Topic: Bitcoin at $600 dollars (Read 1988 times)

Quote from: kokojie on November 18, 2013, 09:54:55 AM

But as I said, it's rising too quick, same as when the west discovered bitcoin in 2011 causing the first bubble.

I think you are correct in saying this is bubble.

Yawn.

Says the guy on the dev team of a competing cyrptocurrency.

Why are humans so simple ... / predictable / basic / obvious ...

MGUK

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Quote from: kokojie on November 18, 2013, 09:45:45 AM

...

I'd say the silkroad bust increased illegal business on TOR, the news reached many people that probably didn't know TOR stuff existed. Then with minimal effort, they can proceed to find other market place such as "sheep market" or BMR.

Not sure, transaction volume isn't actually going up though.

The facts that the price is higher on BTC China, and that BTC China has taken such a huge share of bitcoin trade, let me think China is leading the raise.

I agree with this. China is leading the rise, because they're discovering Bitcoin. But as I said, it's rising too quick, same as when the west discovered bitcoin in 2011 causing the first bubble.

um transaction has gone WAY up compared to before silkroad bust:
http://blockchain.info/charts/n-transactions-excluding-popular

I stand corrected. I should have said something more along the lines of "transaction volume isn't going up at anywhere near the same rate as the price"

Still though, the transaction volume is only 15% higher than in April so doesn't fully explain the 100%+ increase in price.

piramida

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Borsche

bitstamp - hard to get money in, easy out (coinbase). gox - hard to get money out, easy in. makes sense. there's a million dollars per hour waiting for someone who can establish arbitrage between the two banking systems

MicroGuy

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But as I said, it's rising too quick, same as when the west discovered bitcoin in 2011 causing the first bubble.

I think you are correct in saying this is bubble.

mvidetto

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All the meanwhile, over at bitstamp the price is $520.

cryptoanarchist

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Quote from: ajw7989 on November 18, 2013, 08:28:38 AM

The facts that the price is higher on BTC China, and that BTC China has taken such a huge share of bitcoin trade, let me think China is leading the raise.

That, and that the price moves up faster during China daylight hours.

cryptoanarchist

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we will see what happens after the congress meeting today in the USA. It could very well plummet

LOL...I'd buy that dip!

kokojie

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Quote from: kokojie on November 18, 2013, 09:45:45 AM

...

I'd say the silkroad bust increased illegal business on TOR, the news reached many people that probably didn't know TOR stuff existed. Then with minimal effort, they can proceed to find other market place such as "sheep market" or BMR.

Not sure, transaction volume isn't actually going up though.

Quote from: kokojie on November 18, 2013, 09:45:45 AM

The facts that the price is higher on BTC China, and that BTC China has taken such a huge share of bitcoin trade, let me think China is leading the raise.

I agree with this. China is leading the rise, because they're discovering Bitcoin. But as I said, it's rising too quick, same as when the west discovered bitcoin in 2011 causing the first bubble.

um transaction has gone WAY up compared to before silkroad bust:
http://blockchain.info/charts/n-transactions-excluding-popular

MGUK

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...

I'd say the silkroad bust increased illegal business on TOR, the news reached many people that probably didn't know TOR stuff existed. Then with minimal effort, they can proceed to find other market place such as "sheep market" or BMR.

Not sure, transaction volume isn't actually going up though.

The facts that the price is higher on BTC China, and that BTC China has taken such a huge share of bitcoin trade, let me think China is leading the raise.

I agree with this. China is leading the rise, because they're discovering Bitcoin. But as I said, it's rising too quick, same as when the west discovered bitcoin in 2011 causing the first bubble.

cho

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Boar with me

The facts that the price is higher on BTC China, and that BTC China has taken such a huge share of bitcoin trade, let me think China is leading the raise.

kokojie

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