Market depth relevance | Bitcointalksearch.org

paulzag

newbie

Activity: 29

Merit: 0

Quote from: cbeast on February 20, 2012, 07:13:24 PM

So why is the price <$5, and is there anything we can do to the market depth to convince people to stop selling them so cheap?

If you think <$5 is too cheap, then there is a really easy fix, buy them yourself.

At current returns on mining, you can work in fast food and buy BTC quicker than mining them. Temporary aberration in the market?

It's not like the BTC are being destroyed by trading them.

supply and demand means that BTC are worth more than the equivalent fiat for the buyer, and sellers would marginally prefer the cash.

qxzn

hero member

Activity: 609

Merit: 505

Quote from: cbeast on February 20, 2012, 07:13:24 PM

is there anything we can do to the market depth to convince people to stop selling them so cheap?

buy buy buy!

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

So on Mt Gox there are about 58K BTC with sell orders out of 8.3M out there. That's about a half a percent and the other 99.4% are being horded. Shouldn't that have any relevance to the current price? On a previous poll* around 75% of 123 voters think that a Bitcoin buyout should be valued at least $300 each Bitcoin. So why is the price <$5, and is there anything we can do to the market depth to convince people to stop selling them so cheap?

*https://bitcointalksearch.org/topic/m.747045

Topic: Market depth relevance (Read 943 times)