Haha, nice rally guys. Almost back to pre-rally prices.
Famous last words with hindsight.
Topic: Rally!! (Read 7767 times)
[insert formula 1 pic]
A year ago, btc was trading at $0.292, with a total valuation of $1.4M. Now, seemingly every week, a buy for $50k-$250k USD worth of coins happens. Pretty nifty.
You are assuming all new minted coins end up being available for sale. I think this is very, very far from the truth. My guess is at least 90% of all coins is not for sale, and just being hoarded regardless of exchange rates. That means the influx of money is vastly smaller, at least proportionally to this hoarding rate. Some small indication to back up my gut feeling here:
https://bitcointalksearch.org/topic/poll-if-tomorrow-bitcoin-are-56128
My coins are not for sale, not if the price goes to $100 tomorrow, not if it drops to $0.1. And yet In a few years time I might decide to get out and sell at either of those prices. I think this is not an exception but rather the rule, so you could say the current BTC price is all but meaningless; its just a reflection of the sentiment traders have about the sentiment of other traders. And those are trading a tiny fraction of the all BTCs. No wonder its so volatile.
he sees the light!
A year ago, btc was trading at $0.292, with a total valuation of $1.4M. Now, seemingly every week, a buy for $50k-$250k USD worth of coins happens. Pretty nifty.
You are assuming all new minted coins end up being available for sale. I think this is very, very far from the truth. My guess is at least 90% of all coins is not for sale, and just being hoarded regardless of exchange rates. That means the influx of money is vastly smaller, at least proportionally to this hoarding rate. Some small indication to back up my gut feeling here:
https://bitcointalksearch.org/topic/poll-if-tomorrow-bitcoin-are-56128
My coins are not for sale, not if the price goes to $100 tomorrow, not if it drops to $0.1. And yet In a few years time I might decide to get out and sell at either of those prices. I think this is not an exception but rather the rule, so you could say the current BTC price is all but meaningless; its just a reflection of the sentiment traders have about the sentiment of other traders. And those are trading a tiny fraction of the all BTCs. No wonder its so volatile.
The odds of it ever reaching $5 are so low it's not even worth considering the possibility.
What do you think the odds are now?Better.
It came so close, too - half of a 300 btc sell I had placed was filled:
Ask(s) (Sell)
Order Filled at: Sat 31 Dec 2011 01:11:10 PM GMT
Amount: 155.29128318 BTC
Price: @$4.99500
Total: $775.67996
A year ago, btc was trading at $0.292, with a total valuation of $1.4M. Now, seemingly every week, a buy for $50k-$250k USD worth of coins happens. Pretty nifty.
The odds of it ever reaching $5 are so low it's not even worth considering the possibility.
What do you think the odds are now?Better.
The odds of it ever reaching $5 are so low it's not even worth considering the possibility.
What do you think the odds are now?Better.
The odds of it ever reaching $5 are so low it's not even worth considering the possibility.
What do you think the odds are now?Now what would be the odds of that?
The odds of it ever reaching $5 are so low it's not even worth considering the possibility.
What do you think the odds are now? Whether it goes up, down, or stays put, thanks for the spread!
How does that work? You just put up bids and asks around the spread, and then people take them?Does that make a lot of profit?
Over 4-5 cent spreads? Not really, not at this volume. It's growing my little nest-egg bit by bit though.
If someone wants to bump us up over $3.10 though I might have a different response to that question
Weeeeeeeee!
*raises hands in the air during the freefall*
I love rollercoasters.
*raises hands in the air during the freefall*
I love rollercoasters.
Here it comes! That wall of sales.
Whether it goes up, down, or stays put, thanks for the spread!
How does that work? You just put up bids and asks around the spread, and then people take them?Does that make a lot of profit?
3.05 RALLY! HOLY SHIT
GET YOUR SHIRTS YOU GUYS THIS DECEMBER RALLY'S GOING TO BE EPIC!
http://bitcoincloset.com/product.php?id_product=20
GET YOUR SHIRTS YOU GUYS THIS DECEMBER RALLY'S GOING TO BE EPIC!
http://bitcoincloset.com/product.php?id_product=20
Inverting the crash t-shirt is clever! lol
Whether it goes up, down, or stays put, thanks for the spread!
Full speed ahead and dam the torpedos !!!
3.05 RALLY! HOLY SHIT
GET YOUR SHIRTS YOU GUYS THIS DECEMBER RALLY'S GOING TO BE EPIC!
http://bitcoincloset.com/product.php?id_product=20
GET YOUR SHIRTS YOU GUYS THIS DECEMBER RALLY'S GOING TO BE EPIC!
http://bitcoincloset.com/product.php?id_product=20
Now that we have passed $3 I think we are going to shoot up fast for a quick rally and maybe settle around 3.15 for the next few days before slowly climbing again.
Definitely. When BTCUSD passes askwalls the results are extreme.
Now that we have passed $3 I think we are going to shoot up fast for a quick rally and maybe settle around 3.15 for the next few days before slowly climbing again.
Up to 3.089 right now, and climbing. Looked like a lot of Bitcoinica buys going through maybe?
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