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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 23799. (Read 26713607 times)

hero member
Activity: 714
Merit: 500
If we see double digit Bitcoin in 2015 then I am quite sure that an Altcoin could have the throne up for grabs.
I though mass adoption and infrastructure would solidify btc's place. But I'm less certain now. Enough investment in an Altcoin wouldn't be unthinkable. Plus it seems like just clown-money in Bitcoin atm anyway - ie just buyers looking to trade and not use for anything productive. Silk Road was the best thing that happened to BTC. Those days everyone knew someone that was actually using Bitcoin to buy drugs with (where I live anyway). After the shutdown all those guys sold and most can't be bothered using the other dark markets after the shut down and buy their shit back on the streets.
legendary
Activity: 1988
Merit: 1077
Honey badger just does not care
What's the source of that bitcoin days destroyed chart? 

It's manipulated, scaled chart. Here's the real 1 year days destroyed chart, nothing unusual is happening:

sr. member
Activity: 350
Merit: 250
Bitcoin Evengelist
Some of the selling coming with spikes in bitcoin days destroyed




What's the source of that bitcoin days destroyed chart?  



Could also be that a block was found and cashed out immediately... its hard to know. Overall not really seeing that much of a volume

https://blockchain.info/charts/bitcoin-days-destroyed?timespan=60days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=
legendary
Activity: 1022
Merit: 1008
Delusional crypto obsessionist
Some of the selling coming with spikes in bitcoin days destroyed




What's the source of that bitcoin days destroyed chart?  



blockchain.info

And you know you can resize pictures with "[img width=100]" right?
legendary
Activity: 1484
Merit: 1002
Strange, yet attractive.
Lamby you dirty rat, STILL POSTING? Didn't you buy all of them cheap coins by now? Shocked Shocked

Cheap=single digits.  Reasonable=low double.  Now=your pain has just begun.

[usual crappy pic]

You're hilarious. Unignored again  Grin
legendary
Activity: 1022
Merit: 1008
Delusional crypto obsessionist
It's time for a pump to 287  284.666.
Please fill my asks.
After that, it's down again
sr. member
Activity: 378
Merit: 254
Lamby you dirty rat, STILL POSTING? Didn't you buy all of them cheap coins by now? Shocked Shocked

Cheap=single digits.  Reasonable=low double.  Now=your pain has just begun.

hero member
Activity: 672
Merit: 500
Its accumulation time. Fresh fiat hits the exchanges tomorrow.

Are we about to go up?
legendary
Activity: 1615
Merit: 1000
Serious question:
What's the "fair price" of one bitcoin? and how do you arrive to that conclusion?
Depends on how many people use it and the average dollar value of their purchases.
that was the only approximately legit reply so far

If there was no speculation (including long-term hoarding), only use for e-payments, customers (buyers of stuff or services) would buy BTC just for payments, and give them to merchants (suppliers) or payment processors, who would then sell those BTC to other customers. 

Let V be the total volume of such payments expressed in USD/day.  Let T be the average time in days between the purchase of some BTC by one customer and its re-purchase by another customer, after going through a merchant or processor.   Let N be the total number of coins available, and P the market price of one BTC.  Then, the total volume of payments, in BTC/day, is  N / T.  Therfore, we musthave in we must have P *N / T = V, or P = V * T / N.

Today, N = 13.5 M BTC.  BitPay currently processes ~1 million USD per day of payments; let's guess that V is ten times that, 10 M USD/day.  Let's also guess T = 30 days.  (Note, we are assuming that no one is hoarding, so that everybody passes the coins on as soon as pratical.)  Then we get P = 10 * 30 / 13.6 = 22 USD.

You'd still have the issue of there being some hurdles to overcome before buying BTC to spend it on anything. On one hand, this is a disincentive to use BTC for transactions, on the other it is an incentive to 'hoard', as you put it, if you do prefer to use BTC for some purposes.

That aside, I think we can agree any tradeable asset will see some speculation. Looking at your formula, it occurs to me you might add two variables to account for this. One is the growth rate of the BTC price and another is the average speculator's patience - how long they're willing to wait for profits to reach their targets.  Of course both are unknown and actually somewhat interlinked, so it's no wonder price discovery is a messy business.
legendary
Activity: 3962
Merit: 11519
Self-Custody is a right. Say no to"Non-custodial"
Some of the selling coming with spikes in bitcoin days destroyed




What's the source of that bitcoin days destroyed chart? 

legendary
Activity: 1484
Merit: 1002
Strange, yet attractive.
Lamby you dirty rat, STILL POSTING? Didn't you buy all of them cheap coins by now? Shocked Shocked
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
sr. member
Activity: 378
Merit: 254
Is this low price just a ploy by those in power to make us all rich?

I have a feeling that it is.

Nah, wrong again.  The tanking price is just you getting bitchslapped by Miss Market's invisible hand.
legendary
Activity: 1484
Merit: 1002
Strange, yet attractive.
Legit TA follows...
sr. member
Activity: 448
Merit: 255
do you believe this year will be a good year for bitcoin? Cry
legendary
Activity: 966
Merit: 1000
And we are still droping in value...you think we will go below 200?

Don't think so...
Well i hope that it won't happen and that i'll wake up to 350+ in the morning, would be great Tongue
hero member
Activity: 756
Merit: 500
this smells like a Chinese led sell off - BTC prices in Chinese exchange trades at quite a discount
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
Is this low price just a ploy by those in power to make us all rich?

I have a feeling that it is.
legendary
Activity: 1778
Merit: 1008
jesus, what a price to wake up to. we've dropped below the old ATH. what the heck is going on?

I'm sure theres a good explanation/excuse like always. LOL

but nothing clear and obvious... well ok then. i'll take it. makes my loan repayment easier.
hero member
Activity: 560
Merit: 500
And we are still droping in value...you think we will go below 200?

Don't think so...
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