The Bounce is Official | Bitcointalksearch.org

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Quote from: Mirsad on December 12, 2013, 04:42:03 AM

Quote from: Loki8 on December 12, 2013, 03:50:15 AM

Quote from: Le Happy Merchant on December 12, 2013, 01:56:14 AM

Quote from: Hfertig on December 11, 2013, 07:22:47 PM

There is just a slight difference compared to Bitcoin. In Bitcoin you got less than 1000 people holding more than 50% of all bitcoins.... None of the assets above have such an unequal distribution of wealth.

http://en.wikipedia.org/wiki/Nathan_Mayer_Rothschild

Start digging.

It's much worse than in the real world.

Richest 1 Percent Control 39 Percent of World's Wealth

In bitcoin, the richest 0.05% Percent Control 50 Percent of the Bitcoin's Wealth.

Good chart.
The new system is even worse then the old.
Greed is good Roll Eyes

That is nonsense. 1 address =/= one person. MtGox cold storage addresses (and just about every other exchange, many eWallets, coinbase, etc) hold the value of thousands of individuals.

Drawing an equivelent chart for dollars would be saying.

The top 10 banks have 90% of the money supply on deposit so 10 individuals own 90% of the dollars. Obviously an asinine conclusion as the value of the deposits at a bank aren't owned by the bank and even if they were don't represent the wealth of an individual.

jones31

newbie

Activity: 28

Merit: 0

Quote from: Siegfried on December 12, 2013, 06:05:05 AM

Quote from: Loki8 on December 12, 2013, 03:50:15 AM

Quote from: Le Happy Merchant on December 12, 2013, 01:56:14 AM

Quote from: Hfertig on December 11, 2013, 07:22:47 PM

There is just a slight difference compared to Bitcoin. In Bitcoin you got less than 1000 people holding more than 50% of all bitcoins.... None of the assets above have such an unequal distribution of wealth.

http://en.wikipedia.org/wiki/Nathan_Mayer_Rothschild

Start digging.

It's much worse than in the real world.

Richest 1 Percent Control 39 Percent of World's Wealth

In bitcoin, the richest 0.05% Percent Control 50 Percent of the Bitcoin's Wealth.

http://www.bandwidthblog.com/wp-content/uploads/2013/12/bitcoinnetworthbreakdown.png

That is not a reasonable comparison, given bitcoin's actual purchasing power (12 billion dollars for all bitcoins). If at the time when all of the world's assets are denominated in bitcoin and its market cap is several trillion dollars this wealth distribution remains, then the comparison would be valid. But as bitcoin grows the wealth of the top holders will flow into the economy and be redistributed. They will want to spend their wealth, not just hold onto it for the sake of preserving the status quo of vast inequality, which I am sure most of them realize is not healthy.

Why should they do this ?
If bitcoin succeeds in the long term they won't need more than 10 coins to be happy all their life.
Also , who can say for sure than 20 of the top 100 addresses are not owned by the same person?

emanymton

full member

Activity: 219

Merit: 106

Quote from: Siegfried on December 12, 2013, 06:05:05 AM

Quote from: Loki8 on December 12, 2013, 03:50:15 AM

Quote from: Le Happy Merchant on December 12, 2013, 01:56:14 AM

Quote from: Hfertig on December 11, 2013, 07:22:47 PM

There is just a slight difference compared to Bitcoin. In Bitcoin you got less than 1000 people holding more than 50% of all bitcoins.... None of the assets above have such an unequal distribution of wealth.

http://en.wikipedia.org/wiki/Nathan_Mayer_Rothschild

Start digging.

It's much worse than in the real world.

Richest 1 Percent Control 39 Percent of World's Wealth

In bitcoin, the richest 0.05% Percent Control 50 Percent of the Bitcoin's Wealth.

That is not a reasonable comparison, given bitcoin's actual purchasing power (12 billion dollars for all bitcoins). If at the time when all of the world's assets are denominated in bitcoin and its market cap is several trillion dollars this wealth distribution remains, then the comparison would be valid. But as bitcoin grows the wealth of the top holders will flow into the economy and be redistributed. They will want to spend their wealth, not just hold onto it for the sake of preserving the status quo of vast inequality, which I am sure most of them realize is not healthy.

I'm not so sure about that. There seems to be a colluding group of extremely high net worth individuals looking to bleed this sucker dry whilst maintaining or increase their stranglehold.

Siegfried

sr. member

Activity: 266

Merit: 250

Quote from: Loki8 on December 12, 2013, 03:50:15 AM

Quote from: Le Happy Merchant on December 12, 2013, 01:56:14 AM

Quote from: Hfertig on December 11, 2013, 07:22:47 PM

There is just a slight difference compared to Bitcoin. In Bitcoin you got less than 1000 people holding more than 50% of all bitcoins.... None of the assets above have such an unequal distribution of wealth.

http://en.wikipedia.org/wiki/Nathan_Mayer_Rothschild

Start digging.

It's much worse than in the real world.

Richest 1 Percent Control 39 Percent of World's Wealth

In bitcoin, the richest 0.05% Percent Control 50 Percent of the Bitcoin's Wealth.

That is not a reasonable comparison, given bitcoin's actual purchasing power (12 billion dollars for all bitcoins). If at the time when all of the world's assets are denominated in bitcoin and its market cap is several trillion dollars this wealth distribution remains, then the comparison would be valid. But as bitcoin grows the wealth of the top holders will flow into the economy and be redistributed. They will want to spend their wealth, not just hold onto it for the sake of preserving the status quo of vast inequality, which I am sure most of them realize is not healthy.

Mirsad

full member

Activity: 140

Merit: 100

Bitcoin - love & hate

Quote from: Loki8 on December 12, 2013, 03:50:15 AM

Quote from: Le Happy Merchant on December 12, 2013, 01:56:14 AM

Quote from: Hfertig on December 11, 2013, 07:22:47 PM

There is just a slight difference compared to Bitcoin. In Bitcoin you got less than 1000 people holding more than 50% of all bitcoins.... None of the assets above have such an unequal distribution of wealth.

http://en.wikipedia.org/wiki/Nathan_Mayer_Rothschild

Start digging.

It's much worse than in the real world.

Richest 1 Percent Control 39 Percent of World's Wealth

In bitcoin, the richest 0.05% Percent Control 50 Percent of the Bitcoin's Wealth.

Good chart.
The new system is even worse then the old.
Greed is good Roll Eyes

Loki8

full member

Activity: 146

Merit: 100

Quote from: Le Happy Merchant on December 12, 2013, 01:56:14 AM

Quote from: Hfertig on December 11, 2013, 07:22:47 PM

There is just a slight difference compared to Bitcoin. In Bitcoin you got less than 1000 people holding more than 50% of all bitcoins.... None of the assets above have such an unequal distribution of wealth.

http://en.wikipedia.org/wiki/Nathan_Mayer_Rothschild

Start digging.

It's much worse than in the real world.

Richest 1 Percent Control 39 Percent of World's Wealth

In bitcoin, the richest 0.05% Percent Control 50 Percent of the Bitcoin's Wealth.

Essex343

full member

Activity: 196

Merit: 100

so wheres the top of the bounce? have we seen it already?

PenAndPaper

sr. member

Activity: 252

Merit: 250

Quote from: DeathAndTaxes on December 12, 2013, 02:03:00 AM

Quote from: Hfertig on December 11, 2013, 07:22:47 PM

There is just a slight difference compared to Bitcoin. In Bitcoin you got less than 1000 people holding more than 50% of all bitcoins.... None of the assets above have such an unequal distribution of wealth.

Not sure if you are just spreading FUD or you just don't know any better. You have 1,000 addresses holding 50% of the currently mined Bitcoin. MtGox for example is one of those addresses and they had at least at one point 220,000 registered users. That is just one example.

So what? All 220.000 users are dealing with one address? Even if what you said makes sense then there are 999 addresses left. Tongue

In any case it's not FUD or anything because bitcoin was never about even distribution. Tongue

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Quote from: Hfertig on December 11, 2013, 07:22:47 PM

There is just a slight difference compared to Bitcoin. In Bitcoin you got less than 1000 people holding more than 50% of all bitcoins.... None of the assets above have such an unequal distribution of wealth.

Not sure if you are just spreading FUD or you just don't know any better. You have 1,000 addresses holding 50% of the currently mined Bitcoin. MtGox for example is one of those addresses and they had at least at one point 220,000 registered users. That is just one example.

PenAndPaper

sr. member

Activity: 252

Merit: 250

I wonder what will happen during christmas. People will buy presents or they 'll buy bitcoins as presents Tongue

Le Happy Merchant

hero member

Activity: 634

Merit: 500

Quote from: Hfertig on December 11, 2013, 07:22:47 PM

There is just a slight difference compared to Bitcoin. In Bitcoin you got less than 1000 people holding more than 50% of all bitcoins.... None of the assets above have such an unequal distribution of wealth.

http://en.wikipedia.org/wiki/Nathan_Mayer_Rothschild

Start digging.

Soopaman

newbie

Activity: 13

Merit: 0

Quote from: Honeypot on December 12, 2013, 01:44:13 AM

Dip? Crash? It's been stagnating for a while now. I think it needs to crash a bit more before it finishes the correction.

It's been a slow trickle down and bounce back after hitting about $840 (stamp).

I think we don't have quite the steam needed to push back up and we'll see a slow trickle back down into the low $700's or maybe high $600's.

Honeypot

sr. member

Activity: 420

Merit: 250

Dip? Crash? It's been stagnating for a while now. I think it needs to crash a bit more before it finishes the correction.

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Quote from: bitcoinanon on December 11, 2013, 07:12:38 AM

It seems this bounce will plateau soon or it already has. But will it continue to dip or correct itself until the new year. I hope so. There is definitely some money to be made off those dips.

Sure it will plateau, but bounces are always finite. That doesn't diminish its bouncishness.

BitChick

legendary

Activity: 1148

Merit: 1001

Quote from: Hfertig on December 11, 2013, 07:22:47 PM

Quote from: rocks on December 10, 2013, 01:10:07 PM

Quote from: Hfertig on December 09, 2013, 05:22:23 PM

People need to cash out slowly. Imagine, if just 2% of all people cash out quickly (or everyone just sells 2%). That would be 240,000 coins hitting the exchanges. Look at the order books and make your own guess...

Remember that if someone is going to dump 1000 coins on Gox now, we would approximately go down by 40 USD. The guy doing that would have pocketed around USD 880.000, but the Bitcoin marketcap would decrease by USD 480 Mio.

EDIT: (not implying that one person can move the market as such, I just want to point out how fragile the whole wealth in Bitcoin is)

No market of any size can support immediate liquidation of 2% of the entire market value.

If people tried to quickly cash out 2% of the world stock of gold, the price of gold would crash.
If people tried to quickly cash out 2% of all housing, the housing market would crash.
If people tried to quickly cash out 2% of all gov bonds, the bond market would crash.

If bitcoin is a store of value, 2% won't be quickly cashed out. The market does not have to support that.

There is just a slight difference compared to Bitcoin. In Bitcoin you got less than 1000 people holding more than 50% of all bitcoins.... None of the assets above have such an unequal distribution of wealth.

As time goes on the distribution will change a bit though. It already has a little.

Hfertig

sr. member

Activity: 361

Merit: 250

Quote from: rocks on December 10, 2013, 01:10:07 PM

Quote from: Hfertig on December 09, 2013, 05:22:23 PM

People need to cash out slowly. Imagine, if just 2% of all people cash out quickly (or everyone just sells 2%). That would be 240,000 coins hitting the exchanges. Look at the order books and make your own guess...

Remember that if someone is going to dump 1000 coins on Gox now, we would approximately go down by 40 USD. The guy doing that would have pocketed around USD 880.000, but the Bitcoin marketcap would decrease by USD 480 Mio.

EDIT: (not implying that one person can move the market as such, I just want to point out how fragile the whole wealth in Bitcoin is)

No market of any size can support immediate liquidation of 2% of the entire market value.

If people tried to quickly cash out 2% of the world stock of gold, the price of gold would crash.
If people tried to quickly cash out 2% of all housing, the housing market would crash.
If people tried to quickly cash out 2% of all gov bonds, the bond market would crash.

If bitcoin is a store of value, 2% won't be quickly cashed out. The market does not have to support that.

There is just a slight difference compared to Bitcoin. In Bitcoin you got less than 1000 people holding more than 50% of all bitcoins.... None of the assets above have such an unequal distribution of wealth.

outofservice

member

Activity: 70

Merit: 11

Quote from: bitcoinanon on December 11, 2013, 07:12:38 AM

It seems this bounce will plateau soon or it already has. But will it continue to dip or correct itself until the new year. I hope so. There is definitely some money to be made off those dips.

Hey bitcoinanon,

do you think ppl will (or should I say continue) cash out for some extra money for christmas?
maybe this dip is reinforced to ppl already doing so

if that's the case maybe we will see it dip to ~750. i'd grab me a handfull at that price.

bitcoinanon

member

Activity: 71

Merit: 10

The way of the future...

It seems this bounce will plateau soon or it already has. But will it continue to dip or correct itself until the new year. I hope so. There is definitely some money to be made off those dips.

Oldminer

legendary

Activity: 1022

Merit: 1001

I'd rather be in Bitcoins than in $$

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Yes it means it takes less volume to move the price up. So yes it is bullish as long as the trend holds and when it doesn't hold there really isn't an conviction in that movement so those gains will evaporate in the blink of an eye as the price falls until it reaches support (which is usually where there was sustained upward movement on higher volume).

So easy come, easy go.

Also keep an eye on future volume uptrends often will wimper out on fading volume so if the price keeps moving up and the volume keeps moving down that is generally an indicator of a reversal. The reverse is true in a crash, near the bottom of a crash volume will often explode to the upside. This is the capitulation when the weak hands who held all the way down throw in the towel. An outsized volume followed by falling volume and a reverse in direction is a good indicator the crash is over.

Remember these are just signs. Things to look for and say "hmm" they aren't magic and they aren't always right but in mass humans are often predictable. Rapid price gains on low volume make me doubt the underlying trend in the short term and I will keep an eye on it for other indicators.

Topic: The Bounce is Official (Read 5207 times)