Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24024. (Read 26630731 times)

It's the only type of people I've known to use the term. If what I said offends you, perhaps the shoe fits more than you'd care to admit?

Why do dicks like you feel the need to justify how much of a dick they are by trying to belittle someone who is calling them out for being a dick?


How's that buying at the top of the bubble working out for ya, bruh? I always could tell you were stupid, now I'll add ignorant dick to the list right along with Richy_T.

I am just putin this here


http://www.bbc.co.uk/news/business-30490082

The Russian central bank has announced it is hiking its key interest rate to 17% from 10.5%.

It has spent more than $70bn (£44.7bn) supporting the rouble since the start of the year

Be careful when clicking on links these days:
http://arstechnica.com/security/2014/12/some-100000-or-more-wordpress-sites-infected-by-mysterious-malware/

why not buy a Virgin Galactic space plane ticket and jump off mid flight because you're afraid it might crash and burn.

why not!

Be careful when clicking on links these days:
http://arstechnica.com/security/2014/12/some-100000-or-more-wordpress-sites-infected-by-mysterious-malware/

To understand my rationale, I've used the equation of enterprise value http://en.wikipedia.org/wiki/Enterprise_value together with some simplifying assumptions there. (Bitcoin ecosystem is an enterprise, albeit a very unusual one).

On points that I've added to your post for clarity:

1. Yes, that's market price. However, judging by the last 12 months charts and by the very last auction it seems that market value is still bellow (possibly significantly bellow) market price, isn't it? In other words, market is not in a state of equilibrium. http://en.wikipedia.org/wiki/Economic_equilibrium
Please note that apparent stable price (apparent price consolidation) has very little to do with equilibrium.

2. A year ago market cap was almost $14 billion. Did $14 billion flow into Bitcoin? Clearly not. Do market participants believe $14 billion will flow into it? Maybe, maybe not but as we speak it seems not many believe it will do so in the near future. So to respond: no, those 4 billion did not flow into bitcoin at that time but some of the money did flow and that was enough (in terms of amount and flow rate) for many market participants to believe/anticipate/speculate that the rest of the money will flow into, in a reasonable amount of time. We are not far from finding out if their belief was justified or not...

3. Artificial scarcity and low market depth on exchanges can only manipulate the price that much. No, that's not the driving factor. On contrary, why do you think the big stakeholders didn't distribute part of their shares so as to help the ecosystem? Please don't tell me it's because of greed because I won't buy it. Well, so perhaps because they couldn't sell? What's sad imho is that if they can't do it very soon, considering there are a max of 650.000 wallets (possibly only 2-300.000 active bitcoiners as per the excellent recent analysis of Jorge Stolfi) after about 5 years, bitcoin won't have any chance to catch up with mass adoption. We are already lagging well behind the historical growth of mobile phones http://addictivelists.com/top-10-countries-with-most-cell-phone-users-in-2014/ but remember those were back in the 1985. We should have a growth comparable with internet, FB etc. Practically mass adoption is pretty much busted imho and only a strong move followed by a hyper-exponential growth in no. of users can bring us back on track. What strong move? Huge collapse of price & major coin distribution...  toward hoards of new users bringing in yet more people and their fresh money... A huge reset of that kind  is much needed. Each passing day without that happening is exactly the opposite of success but mere a slow move toward fading-out.  That's my view. I don't think bitcoin will die but if it remains a niche product for 5-10-50-100 millions users will be much like failing when compared to it's potential...

To understand my rationale, I've used the equation of enterprise value http://en.wikipedia.org/wiki/Enterprise_value together with some simplifying assumptions there. (Bitcoin ecosystem is an enterprise, albeit a very unusual one). On major assumption I've made is the enterprise value of bitcoin is growing and will continue to grow (albeit slowly imho). I don't have the proof it is true but I believe you'll accept it. Anyway, throw some figures at it and hopefully you'll agree that at equilibrium a heck of a lot of money will be needed to go from 350 to anything above 2-3k.

Monkey now wants an upturn on Thursday/Friday, about the same time as S&P, but after oil, which Monkey tells me will reverse first, of the three.  Monkey also thinks long bonds will reverse late in the week.

Monkey does not like gold anymore.  Not in December, anyhow.