Keep an eye on BTCChina - http://bitcoincharts.com/markets/
They are moving up the chart and with the population that country has coupled with the recent exposure... uh oh...
Nice article - http://www.thegenesisblock.com/bitcoin-the-newest-tool-in-chinas-currency-war-chest/
Topic: For those who still doubt China is a hype - page 4. (Read 13158 times)
Is Bitcoin able to handle all these transactions of Chinese users? I'm affraid in a week we'll get 50 Gb of the blockchain size. [/half-serious]
My concern is that once a massive buying sets in, price is going exponential and exponential is nothing but bad.
We need ~30 mil USD to go to 4 digits. Or less if panic buy really sets in.
That is a good point. But what you are probably going to see is volatility on a scale that the stock market has never seen.We need ~30 mil USD to go to 4 digits. Or less if panic buy really sets in.
Instead of thinking of currency movements (e.g. - a $30 move on a $100 BTC) - imagine that as a % occurring at $1000... and so on (add mirrors for effect. ehehe)
We need a better exchange system, wallets, etc. before that happens. But so much is happening now, I bet we get there in time, barring extreme situations we can't fathom.
Many will cash out a portion of their holdings and roll it into regular currencies - that will be bought by others.
Over time the price will stabilize but that will happen as the market understands what this is. We really don't know what it is. Think about it...
A decentralized currency not under the control of governments co-existing with other currencies.
Add to that, the blockchain and it's many uses. The one that gets me is decentralized DNS. Oh boy.
This Black Swan is here and now we are going to see it's anti fragile nature next...
+1
My concern is that once a massive buying sets in, price is going exponential and exponential is nothing but bad.
We need ~30 mil USD to go to 4 digits. Or less if panic buy really sets in.
That is a good point. But what you are probably going to see is volatility on a scale that the stock market has never seen.We need ~30 mil USD to go to 4 digits. Or less if panic buy really sets in.
Instead of thinking of currency movements (e.g. - a $30 move on a $100 BTC) - imagine that as a % occurring at $1000... and so on (add mirrors for effect. ehehe)
We need a better exchange system, wallets, etc. before that happens. But so much is happening now, I bet we get there in time, barring extreme situations we can't fathom.
Many will cash out a portion of their holdings and roll it into regular currencies - that will be bought by others.
Over time the price will stabilize but that will happen as the market understands what this is. We really don't know what it is. Think about it...
A decentralized currency not under the control of governments co-existing with other currencies.
Add to that, the blockchain and it's many uses. The one that gets me is decentralized DNS. Oh boy.
This Black Swan is here and now we are going to see it's anti fragile nature next...
My concern is that once a massive buying sets in, price is going exponential and exponential is nothing but bad.
We need ~30 mil USD to go to 4 digits. Or less if panic buy really sets in.
We need ~30 mil USD to go to 4 digits. Or less if panic buy really sets in.
For those who still doubt China is a hype, compare:
1: http://blockchain.info/nodes-globe?series=48hrs
2: http://blockchain.info/nodes-globe?series=mostStable
3: http://blockchain.info/nodes-globe?series=topBlockRelay
What do you see? What does this tell you?
1: http://blockchain.info/nodes-globe?series=48hrs
2: http://blockchain.info/nodes-globe?series=mostStable
3: http://blockchain.info/nodes-globe?series=topBlockRelay
What do you see? What does this tell you?
Uh oh, It's like a BTC Red Dawn!
(Unless you are holding) That is really interesting, big WOW.
http://sourceforge.net/projects/bitcoin/files/stats/timeline
A graph sometimes is worth more than a thousand words, better still with some numbers.
A graph sometimes is worth more than a thousand words, better still with some numbers.
If you've followed this statistic, you're aware that any information having to do with today is worthless until well into tomorrow - or even the day after. The stats for 05/06 mean nothing right now.
That said, the stats for 05/05 and earlier fit with either the TV show airing in China, or some bright lad with a download bot trying to drive up the price so he can sell.
https://bitcointalksearch.org/topic/bitcoin-holders-must-prepare-for-mass-adoption-195763
Does anyone still think that those meetings in Washington aren't happening now?
Does anyone still think that those meetings in Washington aren't happening now?
It would be plain ignorant to think that this is not being spoken about at a higher level in Washington. (No offense to the ignorant
)By higher levels I don't mean our representatives in Congress, at least very few of them. I'm talking global movers.
BTC (and cryptocurrencies) must be a very very sensitive topic for obvious reasons. I'm not one to think it threatens banks as many think. In some ways it does, but we will still need loans for homes, cars, etc. (at least for a few more years depending on what happens to the banking system, to be honest.) In other words I don't see traditional forms of loans and credit applying to BTC. Any ideas there?
Great article by the way.
IAS
...and that within the last few days they decided to become nodes. Just because they have a lot of people doesn't mean that they will automatically have a proportionate number of miners and nodes. Just look at India for proof.
Most of bitcoiners use light-weight clients. I suspect that average Indian can't afford to pay annual income for Internet traffic just to download 7 GB of blockchain data. I still doubt China will increase Bitcoin userbase a lot. The Chinese always go their own way, 5000 years of the history prove that.
For those who still doubt China is a hype, compare:
1: http://blockchain.info/nodes-globe?series=48hrs
2: http://blockchain.info/nodes-globe?series=mostStable
3: http://blockchain.info/nodes-globe?series=topBlockRelay
What do you see? What does this tell you?
1: http://blockchain.info/nodes-globe?series=48hrs
2: http://blockchain.info/nodes-globe?series=mostStable
3: http://blockchain.info/nodes-globe?series=topBlockRelay
What do you see? What does this tell you?
Maybe it tells that every 5th person lives in China?
...and that within the last few days they decided to become nodes. Just because they have a lot of people doesn't mean that they will automatically have a proportionate number of miners and nodes. Just look at India for proof.
For those who still doubt China is a hype, compare:
1: http://blockchain.info/nodes-globe?series=48hrs
2: http://blockchain.info/nodes-globe?series=mostStable
3: http://blockchain.info/nodes-globe?series=topBlockRelay
What do you see? What does this tell you?
1: http://blockchain.info/nodes-globe?series=48hrs
2: http://blockchain.info/nodes-globe?series=mostStable
3: http://blockchain.info/nodes-globe?series=topBlockRelay
What do you see? What does this tell you?
Maybe it tells that every 5th person lives in China?
Obviously some people from the party bought bitcoins and are now pumping it.
Or it could be that they realize what an excellent tool Bitcoin could be for moving their bribes out of the country, particularly if the exchanges have a lot of liquidity. A lot easier to move around than mooncake vouchers, right?
What do you see? What does this tell you?
Assuming I know how to read this 'chart' (for lack of a better word) this is a shocking and immediate development that I would have expected to take a few weeks.
^ Where did you get 100-160 in a day from?
For sake of example.
we get to pull shit out of our ass now for sake of example. hate bit coin leave bit coin
this dude us now on ignore
For those who still doubt China is a hype, compare:
1: http://blockchain.info/nodes-globe?series=48hrs
2: http://blockchain.info/nodes-globe?series=mostStable
3: http://blockchain.info/nodes-globe?series=topBlockRelay
What do you see? What does this tell you?
1: http://blockchain.info/nodes-globe?series=48hrs
2: http://blockchain.info/nodes-globe?series=mostStable
3: http://blockchain.info/nodes-globe?series=topBlockRelay
What do you see? What does this tell you?
Thanks for the charts, most people in China don't use Google though, their preferred search engine is Baidu.
Still won't believe this is a good coin till it has been 6 months.
China can easily push it to 10,000 in a few months.. Good news
déjà vu
Should we be ready for 120 -> 260 -> 50 again?
Well, that was fun, wasn't it? Could also be 120 -> 1xxx -> 500...
China can easily push it to 10,000 in a few months.. Good news
déjà vu
Should we be ready for 120 -> 260 -> 50 again?
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