Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27759. (Read 26711086 times)

2 da moon.

Such wow. In the meantime, we just wait. 

I don't mind flat, the market needed a small breather.

No more margin trading by our asian overlords ....

The last 24 hour chart is so tight & awesome I have never seem bitcoin behave so calm

Its textbook consolidation with a minor uptrend ..if we get 3 weeks of this watch out as it is building for a squeeze play IMHO

Explanation

then watch as they spend your money while you get squeezed down in another round while hoping that they go public some day but just get bought out by paypal

cool i'm down to organize a group buy lol

Are we looking at the same chart?  "Order of magnitude" should be 500'000 --> 5'000'000.  I see ~836'000 on ~Jan/20, ~840'000 on May/14.  Am I reading it wrong?

EDIT: using "7 days average".

You've been looking at bitcoin too long, Jorge.  Normal people don't consider variations in order of magnitude to be "no change".



No, it does not mean that.  That is an interpretation which you chose to apply.  It is a self-consistent interpretation, so it is not amenable to refutation, but it is also a whiggish one.

Re ebay: This is no different than what he said 6 months ago.  Nothing happening anytime soon.  Put in the proper disclaimer here.

Don't let Jedi Sam Jackson down.

The key word there is "actively".  That has a meaning in the business world and makes me wonder if the Bitpay/Ebay rumors are true.

Interesting news today from Ebay's CEO.  From a shareholders meeting Q&A session:  "Carl Davis, Jr of the Silicon Valley Black Chamber of Commerce asked Donahoe what he thought of Bitcoin in regards to global trade. The CEO called it a new, exciting and emerging technology. "We think Bitcoin will play a very important role in the future. Exactly how that plays out, and how we can best take advantage of it and enable it with PayPal, that's something we're actively considering. It's on our radar screen."

Here is the article: http://www.ecommercebytes.com/cab/abn/y14/m05/i14/s01

Explanation

Anyone else amazed this continues?

It cant go on forever 

Trying to understand these charts:

Total Output Volume
"The total value of all transaction outputs per day. This includes coins which were returned to the sender as change."
http://blockchain.info/charts/output-volume (Select 2 years, log maybe)

  Why is this number so constant from Jun/2013 to now, apart from the peak in Nov-Dec, when the value of 1 BTC
  has varied from 120$ to 800$ then 450$? In particular, there seems to be no change since late Jan/2014 to now.

Cost per transaction (USD)
"A chart showing miners revenue divided by the number of transactions." (fom the index page)
http://blockchain.info/charts/cost-per-transaction

  Is that dollars or cents?  Is the word "cost" appropriate? How is this "cost" expected to evolve in the future?

Cost % of transaction volume
"A chart showing miners revenue as percentage of the transaction volume."
http://blockchain.info/charts/cost-per-transaction-percent

  Does this chart mean that the "fee" for a bitcoin transaction is now about 5%?  (Presumably almost all of that is currently
  being paid indirectly by bitcoin users through mining "inflation"?  Like if the government printed more dollars to subsidize
  the credit card fees of US citizens?  )

 

http://www.ripplecharts.com/#/markets

Looks like a ripple pump just peaked. Will probably fall back to 0.006 xrp/usd.

 

Explanation

Yeah... we need some sources for these various conclusion regarding how much money is going where.. and whether the money is "smart" or NOT... or at least provide some detailed specifics and/or descriptions to support these kinds of conclusions. 

You could add up a lot of infrastructure, and possibly get up to half a billion $$ that has been invested into bitcoin infrastructure, including ATMs, mining, exchanges, payment/remittance services, conferences, application development, consultations, etc. 

Bitcoin has a market cap of nearly $6 billion, which is a reflection of the number of bitcoins multiplied by the market price per bitcoin.  The BTC marketcap may be a little bit of an artificial number, but if there has been nearly a million bitcoins mined over the last 9 months or so, then those recently mined bitcoins have been absorbed into the bitcoin market cap... even at an average price per btc of $400 per bitcoin, that is $400 million.... and even if only 25% of them were sold, that is $100 million.

In the end, money seems to be going into both BTC infrastructure and BTC purchases.   I am NOT about to break down the specifics b/c I do NOT know specifics.. and I did NOT make the assertion that there is some kind of direction that is "smarter" than  another.  It seems that if we get another BTC price spike or a further price decline (which is seeming less and less likely), there will be profits (and losses) both in the infrastructure investments and in bitcoin purchases, and like in life, FEW, if any, of the profits or losses will be distributed evenly... and the smartness of the investment strategy will vary based on luck, timing and whether any skills are brought to the venture(s).

Get ready for the next pump and dump.

Explanation