Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24008. (Read 26682729 times)

asking, magic 8 ball...

...

 

Well it's not particularly close at hand; I'd be confident as well.

probably wont get too see sub 300, but I am wrong all the time.

What do you guys think? Is 1 billion market cap going to hold?

*cough* Linux

Still relatively confident that Bitcoin will remain above 1 billion market cap.

Less fees and transactions in less than 5 seconds is good...

If it's good for the current banking system then it's no good.

ftfy

Nahhh, you will see sooner or later that ripple is a huge advancement upon the current banking system.

Do you want to buy with BTC? 

Either way, you will want to start a new account at ripple.com

I use SnapSwap with USD.  You can do an instant deposit within seconds through 13 major banks.

The total number of supported banks is now thirteen. The initial list of supported banks included Wells Fargo, Bank of America, Capital One, Capital One 360, TD Bank, US Bank, PNC, Chase, Citibank.

http://blog.snapswap.vc/2014/11/four-more-banks-are-available-for.html


For Btc, create a wallet in ripple and below is a little tutorial on creating a new bitcoin address inside your ripple wallet to transfer btc to it.

www.btc2ripple.com

https://xrptalk.org/topic/4547-getting-from-btc2ripplecom-to-rippletrade/?hl=btc2ripple

Shadowcash just launched the first Zero-Knowledge cryptocurrency, i'd rather see that take the throne from BTC than Ripple if BTC is destined to fail.

http://www.reddit.com/r/Bitcoin/comments/2pgbfs/an_epic_moment_in_cryptocurrency_history_zero/

When the bitcoin infrastructure matures some clients will float above the rest and that's what average joe will use.

I wish they won't and wake up from the Matrix, but i am afraid many more "Russian rubble crashes" will have to happen before they realize it...i see the BTC vs RIPPLE as BTC vs current banking system...and i hope btc will win

Let’s see:
On 27th May, bitstamp issued its proof of reserve at https://www.bitstamp.net/article/Bitstamp-BTC-Proof-of-Reserves-May-2014/ stating they have 183497 BTC in their cold wallet. At that time, price was around 580-590USD. There is a catch: they never disclosed their fiat proof of reserves (afaik not one exchange ever disclosed such info). I suspect fiat reserves were much lower than expected and if they did disclose it, the market would’ve crashed instantly.
Ok. 183497 BTC at 580 USD/BTC is about 106M USD. Since no other info is available, I guess an acceptable assumption one can do is that half (by value in USD equivalent) of accounts were in btc and half were in fiat, i.e. about 91.7k BTC were available for sell at any time if their holders wanted to press the “Sell bitcoins” button.
On the other hand, Bitstamp is only having around 4k BTC in asks at most times, while Huoby somewhere between 10-14k. So, for Bitstamp only 4-5% (4/91.7) BTC seems to be visible in asks while the majority (95-96%) waits on the sidelines. If same ratio applies to Huobi it means the total amount of BTC available for selling on their exchange would be around 240k-335k.
At 1500USD/BTC, to buy what is visible in asks on Bitstamp and Huobi would be like 4+14=28K = 42M USD.
However, the available BTC on the sidelines may jump in and that would require up to 91.7k+335k BTC = 640M USD.

Now, I don’t have data for finex, okcoin, btce and other exchanges but they surely would add quite something to that amount.
Also, I’m not sure if I recall correctly that someone posted the stamp wallet a couple of times since May and it was at around 260k then it grew close to 300k. That would require revising the above figures upwards.

Maybe someone will take it from here but I don’t think 100M USD will do anything visible to the price. Remember that finex has more than 22M in longs and it seems that it couldn’t even stop the downtrend let alone to increase the price even so slightly. So, to get a 4-5x increase in price I suspect we need on the order of 1B USD or more. Yes, there will be a rush in of fresh money but also a rush in of old coins too…
Good part is I think it is still doable of having 100k newcomers each bringing in a fresh 10K USD (in average).

Then the best thing average Joe can do is to stay with the current banking system!

Where can I buy ripple? I think it's shit but a centralized currency might eventually take over.

IMO bitcoin has too many wallets, too many programs for it so the average joe gets confused as to which one to use. It's better if he's just getting told "use this, do that" and everybody use the same thing

Thanks ... lets see just how keen the Chinese are to catch this falling knife !!!

Maybe here: (Translation anybody?)

https://www.huobi.com/deposit/index.php?a=cny_deposit
http://www.reddit.com/r/Bitcoin/comments/2phb6x/this_should_not_be_ignored_huobi_reopens_the_bank/

Link ??