Topic: Bitcoin stabilizing around $15. - page 2. (Read 4909 times)
One thing to note is that the chart on Tradehill's site is scaled differently than most other trading charts. If you notice it starts at 0 at the bottom. This can make it look artificially flat compared to something like SierraChart that is auto-scaling the min/max range.
all numbers right now are useless since the majority of people can't get to their accounts at mtgox.
There is still around a 12% change from high to low which is an order of magnitude higher than a crazy day for 'real' currency.
Stable does have advantages Nagle. However, BTC went from ~$1.5 to $32 in a little over one month, so more wild days are going to happen soon. That is part of human nature (greed vs fear) and cannot be changed, or avoided, after such a sharp run up.
It is stable right now, since the action is really still based at MtGox which resumes in < 24 hours.
Buy Low Sell High | Good luck figuring out what the Low and High will be.
It is stable right now, since the action is really still based at MtGox which resumes in < 24 hours.
Buy Low Sell High | Good luck figuring out what the Low and High will be.
It took a few days for traders, merchants and miners to move funds and bitcoins to TradeHill. Volume picked up only today.
When Mt Gox gets back online, prices may firm up, provided that the site exhibits solid security.
When Mt Gox gets back online, prices may firm up, provided that the site exhibits solid security.
Bitcoin today (USD, TradeHill)
We're getting past the drama phase. That's what a useful currency is supposed to look like - flat and boring. When the chart looks like that, merchants can price products in Bitcoins. Merchants typically deposit their day's receipts in a bank once each day. If the price of Bitcoins is steady over the course of a day, merchants can convert to a real currency once a day, pull out the cash, and put it in their bank account.
There's a reasonable amount of market depth behind that, too. At first, trading on Tradehill was very thin, but now there's a a few thousand Bitcoins of market depth on both the bid and ask sides. That's not huge by financial standards, but it's enough to allow some modest real-world businesses to convert their daily take.
Back in the Mt. Gox era, we were seeing $30 and $8 in the same week. That had to stop.
This is real progress.
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