This lack of volatility almost makes Bitcoin look... civilized - page 2.

netrin

sr. member

Activity: 322

Merit: 251

FirstBits: 168Bc

Quote from: adamstgBit on December 18, 2011, 01:04:42 AM

customer buys bitcoins at market rate and buys a gift with bitcoins right way
merchant ~~sells~~ (keeps) the bitcoins

My sales have gone up quite a bit in the past month. Some newbies ask if I'll accept PayPal, etc, to which I answer 'no'. They go off to convert paper to digital and the economy grows. I presume other merchants will say the same.

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

Quote from: ineededausername on December 18, 2011, 12:09:55 AM

You're reading too much into this. Look at the volumes:
People are leaving for the holidays... anyone see those straight lines on mtgoxlive?
When all the traders and speculators come back, we'll see real price movement again.

I like this explanation, the speculator are taking a 2 week break...
Question now becomes where they holding coins or USD b4 leaving? Tongue

I'd like to think we've had stable prices because there is a lot of poeple buying things with their bitcoins

customer buys bitcoins at market rate and buys a gift with bitcoins right way
merchant sells the bitcoins at market rate right away

if enough of this is going on... the current price wtv it may be, is supported & stabilized.

I really should buy some bitcoins just to buy gifts.... i like buying things with my visa card because i get 1% cash back Tongue

ineededausername

hero member

Activity: 784

Merit: 1000

bitcoin hundred-aire

Quote from: old_engineer on December 18, 2011, 12:24:42 AM

It is nice. There is precedent though, as stability like this happened once before in July, with a similar percentage range:

What happens next depends on the next big player: is it someone dumping another 20k coins, or buying up 20k coins?
I could see price dropping to $2.5 again, or jumping to $4.

Dumping 20k? Still stable at 3.10.
In fact dumping 40k would take us to 3.00.
60k would take us to 2.95. Still within sight of $3.

On the other hand, buying 20k would take us to 3.35. Buying 40k... 3.75.

old_engineer

sr. member

Activity: 387

Merit: 250

It is nice. There is precedent though, as stability like this happened once before in July, with a similar percentage range:

What happens next depends on the next big player: is it someone dumping another 20k coins, or buying up 20k coins?
I could see price dropping to $2.5 again, or jumping to $4.

ineededausername

hero member

Activity: 784

Merit: 1000

bitcoin hundred-aire

You're reading too much into this. Look at the volumes:
http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zv
People are leaving for the holidays... anyone see those straight lines on mtgoxlive?
When all the traders and speculators come back, we'll see real price movement again.

bittenbob

hero member

Activity: 560

Merit: 500

I believe we have reached the area of true value for Bitcoin. I don't expect to see any major bubbles unless something happens. I also do not expect any sustained values below $3 for longer than a day in the foreseeable future. From the moving averages it really appears we have hit a bottom or market reversal. I am more inclined to believe we will stay around the current price for the near term.

zhoutong

vip

Activity: 490

Merit: 502

This is definitely remarkable, but I'm sure it's temporary too.

Bitcoin can almost never gain stability unless: 1) the price rises to above $100, or 2) it dies.

The potential instability is still there until the price is high enough to push market cap to an astronomical number.

evoorhees

legendary

Activity: 1008

Merit: 1023

Democracy is the original 51% attack

The past week has been remarkably calm, with the price sticking in $3.16-$3.21. It "feels" calmer than I've ever seen it. It's almost as if... dare I say... the marketplace has found an appropriate price given the current economy + NPV of future economy.

It's almost like Bitcoin has become... a civilized asset.

Certainly, it won't stay like this. But, I must say I'm enjoying this current oasis. RIM, gold, and the EUR have been more wild in recent days.

That such a speculative asset like a bitcoin can enjoy stable value - if only for a matter of days - is quite remarkable.

Thoughts?

Topic: This lack of volatility almost makes Bitcoin look... civilized - page 2. (Read 3432 times)