Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17768.

Gyrsur

legendary

Activity: 2856

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Bitcoin Legal Tender Countries: 2 of 206

Quote from: European Central Bank on February 24, 2017, 07:03:07 PM

Quote from: sirazimuth on February 24, 2017, 07:00:09 PM

so what exactly is the new official ATH? as of right now 2/24/2017 at 6:55pm EST. I googled 1186 . Did it not break 1200?

thank you gentlemen...

over $1220 on bitfinex and bitstamp. i think bfx hit $1222.

the mt.gox ATH is already not broken.

Torque

legendary

Activity: 3794

Merit: 5474

Sheesh, no wonder electricity in China is cheap/essentially free:

http://www.businessinsider.com/china-solar-panels-from-space-photos-2017-2

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: sirazimuth on February 24, 2017, 07:00:09 PM

so what exactly is the new official ATH? as of right now 2/24/2017 at 6:55pm EST. I googled 1186 . Did it not break 1200?

thank you gentlemen...

over $1220 on bitfinex and bitstamp. i think bfx hit $1222.

sirazimuth

legendary

Activity: 3388

Merit: 3514

born once atheist

so what exactly is the new official ATH? as of right now 2/24/2017 at 6:55pm EST. I googled 1186 . Did it not break 1200?

thank you gentlemen...

BTCtrader71

hero member

Activity: 784

Merit: 1001

Quote from: uki on February 24, 2017, 06:33:06 PM

Quote from: European Central Bank on February 24, 2017, 03:05:47 PM

Quote from: cmacwiz on February 24, 2017, 03:02:41 PM

It only takes a trillion USD market cap for $50k bitcoin. There is a total of ~$25 trillion in USA IRA's. Is it that hard to imagine global speculative bubbles that touch but do not sustain $1 trillion market cap by 2025? 2020?

0.1% of USA IRA funds ($25 billion) into the ETF bring us over $2500/BTC, and that is ignoring speculative buying by people in the trenches (us!).

you're forgetting how meaningless market cap is compared to real money.

25 billion real dollars put into bitcoin would push the price far beyond $2500. right now you could probably reach that price on the exchanges by spending 50-100 million dollars in one shot.

and if sellers sniffed out that there was a buyer with money to burn they'd go on strike and push the price up even further.

Market cap notion used in Bitcoin (and altcoin) sphere is a pure nonsense. It is extremely misleading to multiply the current price by the number of coins, thinking (wishfully) that all of the coins can be, all of a sudden, sold at this price.

There are two ways to think about the relationship between market cap and how much "real money" is invested into bitcoin.

1) short term. ECB is correct to point out that an injection of 25 billion dollars of "real money" would drive the price to the moon in the short term, due to liquidity issues.

2) long term. If you think in terms of steady state conditions, then cmacwiz's reasoning makes perfect sense.

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: uki on February 24, 2017, 06:33:06 PM

Market cap notion used in Bitcoin (and altcoin) sphere is a pure nonsense. It is extremely misleading to multiply the current price by the number of coins, thinking (wishfully) that all of the coins can be, all of a sudden, sold at this price.

i totally agree but it applies to all assets in principle - gold, stocks. they're gonna have more demand of course so will hold up better in a vast dump scenario.

the one that really pisses me off is when alts publicise a total amount of coins and the developer release a tiny fraction of them. suddenly your shitcoin with $1000 daily volume has a higher market cap than bitcoin.

cmacwiz

sr. member

Activity: 704

Merit: 270

Quote from: uki on February 24, 2017, 06:33:06 PM

Quote from: European Central Bank on February 24, 2017, 03:05:47 PM

Quote from: cmacwiz on February 24, 2017, 03:02:41 PM

It only takes a trillion USD market cap for $50k bitcoin. There is a total of ~$25 trillion in USA IRA's. Is it that hard to imagine global speculative bubbles that touch but do not sustain $1 trillion market cap by 2025? 2020?

0.1% of USA IRA funds ($25 billion) into the ETF bring us over $2500/BTC, and that is ignoring speculative buying by people in the trenches (us!).

you're forgetting how meaningless market cap is compared to real money.

25 billion real dollars put into bitcoin would push the price far beyond $2500. right now you could probably reach that price on the exchanges by spending 50-100 million dollars in one shot.

and if sellers sniffed out that there was a buyer with money to burn they'd go on strike and push the price up even further.

Market cap notion used in Bitcoin (and altcoin) sphere is a pure nonsense. It is extremely misleading to multiply the current price by the number of coins, thinking (wishfully) that all of the coins can be, all of a sudden, sold at this price.

Sure, but it seems less wishfully inaccurate and more conservatively inaccurate, no?

excuse my ignorance, I am not a market man!

blockcha1n

full member

Activity: 185

Merit: 100

I am not scared of sudden drop.
I don't hold very much so it doesn't affect me too much.
But alot of people here are betting their lives on the price going up.
Which is not an advisable thing to do.

uki

legendary

Activity: 1358

Merit: 1000

cryptojunk bag holder

Quote from: European Central Bank on February 24, 2017, 03:05:47 PM

Quote from: cmacwiz on February 24, 2017, 03:02:41 PM

It only takes a trillion USD market cap for $50k bitcoin. There is a total of ~$25 trillion in USA IRA's. Is it that hard to imagine global speculative bubbles that touch but do not sustain $1 trillion market cap by 2025? 2020?

0.1% of USA IRA funds ($25 billion) into the ETF bring us over $2500/BTC, and that is ignoring speculative buying by people in the trenches (us!).

you're forgetting how meaningless market cap is compared to real money.

25 billion real dollars put into bitcoin would push the price far beyond $2500. right now you could probably reach that price on the exchanges by spending 50-100 million dollars in one shot.

and if sellers sniffed out that there was a buyer with money to burn they'd go on strike and push the price up even further.

Market cap notion used in Bitcoin (and altcoin) sphere is a pure nonsense. It is extremely misleading to multiply the current price by the number of coins, thinking (wishfully) that all of the coins can be, all of a sudden, sold at this price.

HI-TEC99

legendary

Activity: 2772

Merit: 2846

Quote from: K~Ehleyr on February 24, 2017, 04:07:24 PM

I've been wondering the same thing along the lines of will the ETF offer shares in coins that the Winkies already own (not affecting the market) or will new coins be bought up quickly according to demand (cue market)?

I noticed bitcoinity showed itBit as the USD volume leader during the pump, although its dropped to third place now. Bitcoin.com claims itBit makes its OTC trades publicly view-able, so I suspect bitcoinity includes its OTC trades in the volume calculations.

Was the fact itBit suddenly took over as volume leader due to somebody buying OTC coins for the ETF?

https://news.bitcoin.com/itbit-tradeblock-blockchains-big-data/

Quote

ItBit’s collaboration with TradeBlock will enable its clientele and the public to view its Over The Counter trading data, which will give more perspective and resolution to the exchanges OTC transactions.

Torque

legendary

Activity: 3794

Merit: 5474

I think that if the COIN ETF does get approved, any price action leading up to it is kinda irrelevant. What would be more relevant and telling is where the price goes after that, and what it would be by the end of the year.

sunsilk

hero member

Activity: 3038

Merit: 634

Quote from: arransiv on February 24, 2017, 04:44:18 PM

Quote from: European Central Bank on February 24, 2017, 02:45:20 PM

Quote from: uki on February 24, 2017, 02:39:42 PM

I doubt we get past $1500. $10k is another ball game. Not this time, and not in the long time ahead.

i didn't expect it to be where it is now so soon, and especially with so little hype or drama. that means there's a bunch more hysteria that can be stoked. i kinda hope it doesn't happen but there's a chance it might. $1500 is possible if the rest of the world gets excited.

Quote from: arransiv on February 24, 2017, 02:44:26 PM

So what is China doing now! Huh

the chinese market is not being permitted to function properly. it's essentially irrelevant. i hope it stays that way too.

Wth man!
It's getting worst now.
-snip-

Is bitcoin choking now?

Chill man it will pumped again. It's normal with bitcoins getting ready for another price pump, ATH.

And besides it will only get worst when it is going to come back with $800-$900 mark but right now I saw it is stable on preev.

Only less than $3 Grin

arransiv

sr. member

Activity: 420

Merit: 250

Quote from: European Central Bank on February 24, 2017, 02:45:20 PM

Quote from: uki on February 24, 2017, 02:39:42 PM

I doubt we get past $1500. $10k is another ball game. Not this time, and not in the long time ahead.

i didn't expect it to be where it is now so soon, and especially with so little hype or drama. that means there's a bunch more hysteria that can be stoked. i kinda hope it doesn't happen but there's a chance it might. $1500 is possible if the rest of the world gets excited.

Quote from: arransiv on February 24, 2017, 02:44:26 PM

So what is China doing now! Huh

the chinese market is not being permitted to function properly. it's essentially irrelevant. i hope it stays that way too.

Wth man!
It's getting worst now.

Is bitcoin choking now?

starmman

legendary

Activity: 1484

Merit: 1029

Quote from: European Central Bank on February 24, 2017, 02:45:20 PM

Quote from: uki on February 24, 2017, 02:39:42 PM

I doubt we get past $1500. $10k is another ball game. Not this time, and not in the long time ahead.

i didn't expect it to be where it is now so soon, and especially with so little hype or drama. that means there's a bunch more hysteria that can be stoked. i kinda hope it doesn't happen but there's a chance it might. $1500 is possible if the rest of the world gets excited.

Quote from: arransiv on February 24, 2017, 02:44:26 PM

So what is China doing now! Huh

the chinese market is not being permitted to function properly. it's essentially irrelevant. i hope it stays that way too.

I wasn't fully prepared for the rise either - but at least partially prepared - wonder how long the bull ride will continue and how sharp the inevitable bear will be afterwards...

HI-TEC99

legendary

Activity: 2772

Merit: 2846

Quote from: K~Ehleyr on February 24, 2017, 04:07:24 PM

Quote from: Spaceman_Spiff on February 24, 2017, 03:58:45 PM

Does anyone know how the COIN ETF shares would enter the market? Is it basically just the Winklevoss twins that start of with all the shares who can then sell however much they want at whatever price and time they want?

Good question, I've been wondering the same thing along the lines of will the ETF offer shares in coins that the Winkies already own (not affecting the market) or will new coins be bought up quickly according to demand (cue market)?

Coindesk says the maximum offering price for each share has been lowered to $10, which suggests they will sell for whatever they can get for their shares, up to a maximum of $10 each.

http://www.coindesk.com/winklevoss-bitcoin-etf-100-million/

Quote

...the size of the offering has increased, from $65m to $100m, as well as a boost in the number of shares being offered, from 1m shares to 10m shares. The filing goes on to indicate that the maximum offering price per share has been lowered, from $65 down to just $10.

bitcoinvest

legendary

Activity: 1124

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13eJ4feC39JzbdY2K9W3ytQzWhunsxL83X

Quote from: European Central Bank on February 24, 2017, 04:00:41 PM

Quote from: bitcoinvest on February 24, 2017, 03:50:23 PM

since you speak about meeting in real life, did you ever meet somebody from here? i would like to meet someday Karpeles and give me my bitcoins back!!! sorry i mean give me an explanation

since he don't have any bitcoins after all right???

no. i think it would probably be a very scary experience.

mark karpeles is being helpful within limits on https://www.reddit.com/r/mtgoxinsolvency/ right now. check him out - https://www.reddit.com/user/MagicalTux/

Yes indeed, i check when i have clean mind what they write and of course what Mark is writing.
I monitor also this topic https://bitcointalk.org/index.php?topic=179586.6840 regarding Mtgox for news, his blog also and of course i wait for the March creditors meeting....i am sure am not the only one... i read on reedit that the "hack" happened from the hosting provider.... i will write some of my questions tomorrow hopping for answer

Good night bitcoin land!

K~Ehleyr

sr. member

Activity: 434

Merit: 250

Ooh, shiny things!!

Quote from: Spaceman_Spiff on February 24, 2017, 03:58:45 PM

Does anyone know how the COIN ETF shares would enter the market? Is it basically just the Winklevoss twins that start of with all the shares who can then sell however much they want at whatever price and time they want?

Good question, I've been wondering the same thing along the lines of will the ETF offer shares in coins that the Winkies already own (not affecting the market) or will new coins be bought up quickly according to demand (cue market)?

LLec

hero member

Activity: 798

Merit: 501

Quote from: Spaceman_Spiff on February 24, 2017, 03:58:45 PM

Does anyone know how the COIN ETF shares would enter the market? Is it basically just the Winklevoss twins that start of with all the shares who can then sell however much they want at whatever price and time they want?

They will just sell it through genesis and watch the money roll in.
Did somebody mention rick rolled?
Just kidding. Wink

Was about to post this great meme:

Quote from: xhomerx10 on February 23, 2017, 11:24:50 PM

A little theme and variation ＼(｀0´)／

But then see the gloom for the $30 loss and the party is over.
The moon train has come to grinding halt.
So very sad! Cry

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: bitcoinvest on February 24, 2017, 03:50:23 PM

since you speak about meeting in real life, did you ever meet somebody from here? i would like to meet someday Karpeles and give me my bitcoins back!!! sorry i mean give me an explanation

since he don't have any bitcoins after all right???

no. i think it would probably be a very scary experience.

mark karpeles is being helpful within limits on https://www.reddit.com/r/mtgoxinsolvency/ right now. check him out - https://www.reddit.com/user/MagicalTux/

Spaceman_Spiff

legendary

Activity: 1638

Merit: 1001

₪``Campaign Manager´´₪

Does anyone know how the COIN ETF shares would enter the market? Is it basically just the Winklevoss twins that start of with all the shares who can then sell however much they want at whatever price and time they want?

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