Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28799.

newbie

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Quote from: mooncake on March 20, 2014, 07:51:59 AM

Even Legg Mason CIO is now buying BTC. Wall Street is starting to get involved.
http://www.bloomberg.com/video/potential-return-for-bitcoin-is-huge-miller-4vvq72kCTrOGvs4FjaFxRw.html

Load up the BTCs while they are cheap guys!

That looks like a news article. I only trade based on forum FUD, so i will have to ignore this bloomberg article.

dreamspark

hero member

Activity: 798

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Quote from: JorgeStolfi on March 20, 2014, 08:01:35 AM

Quote from: giszmo on March 20, 2014, 07:46:35 AM

Ask Tony Gallippi if his 30000 customers all have wallets. My bet would be the majority don't.

Er, sorry for the ignorance, but why would one use Bitpay if one owns no bitcoins?

I'd imagine he's referring to the actual businesses that use Bitpay to accept BTC. They don't need to ever touch BTC.

JorgeStolfi

hero member

Activity: 910

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Quote from: giszmo on March 20, 2014, 07:46:35 AM

Ask Tony Gallippi if his 30000 customers all have wallets. My bet would be the majority don't.

Er, sorry for the ignorance, but why would one use Bitpay if one owns no bitcoins?

mooncake

sr. member

Activity: 434

Merit: 250

Even Legg Mason CIO is now buying BTC. Wall Street is starting to get involved.
http://www.bloomberg.com/video/potential-return-for-bitcoin-is-huge-miller-4vvq72kCTrOGvs4FjaFxRw.html

Load up the BTCs while they are cheap guys!

dreamspark

hero member

Activity: 798

Merit: 1000

Quote from: JorgeStolfi on March 20, 2014, 07:28:50 AM

Quote from: giszmo on March 20, 2014, 07:21:38 AM

As always there are multi user wallets that could be millions not being accounted for users

You mean exchanges, tumblers, Bitpay? But people who use those probably have at least one private address. So the number of addresses can only be higher than the number of owners.

The number of addresses will always be higher than the number of users. Even if people use pooled services where the balances are stored in big cold addresses. Just ask people here how many addresses theyve used and the majority will be 50+

giszmo

legendary

Activity: 1862

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WalletScrutiny.com

Quote from: JorgeStolfi on March 20, 2014, 07:28:50 AM

Quote from: giszmo on March 20, 2014, 07:21:38 AM

As always there are multi user wallets that could be millions not being accounted for users

You mean exchanges, tumblers, Bitpay? But people who use those probably have at least one private address. So the number of addresses can only be higher than the number of owners.

Ask Tony Gallippi if his 30000 customers all have wallets. My bet would be the majority don't.

JorgeStolfi

hero member

Activity: 910

Merit: 1003

An interesting statistic one could get from the blockchain is the net amount of USD that actually went out those addresses. Namely, for each transfer out of an address one adds the BTC amount times the USD/BTC rate at that time; and subtracts the same formula for any transfer into the address.

E.g. if an address received only 2 BTC when the price was 100$ and sent 1 BTC when it was 800$, the balance at that address would be 1 BTC and its net USD outflow would be 600$.

Some addresses will then hold a negative amount. Indeed, since transfers between addresses add and subtract the same amount, the sum of all such outflows will be negative, equal in magnitude to the sum of all mined coins times the price at the time they were mined.

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: giszmo on March 20, 2014, 07:21:38 AM

As always there are multi user wallets that could be millions not being accounted for users

You mean exchanges, tumblers, Bitpay? But people who use those probably have at least one private address. So the number of addresses can only be higher than the number of owners.

giszmo

legendary

Activity: 1862

Merit: 1114

WalletScrutiny.com

Quote from: rpietila on March 20, 2014, 07:05:33 AM

Quote from: inca on March 20, 2014, 06:35:28 AM

Number of bitcoin addresses (excluding dust) is still around 500,000 if reddit is to be believed. This has a long way to run yet.

About 1.34 million unless your definition of "dust" is way different than mine (<1mBTC).

Source.

As always there are multi user wallets that could be millions not being accounted for users and there are power users with thousands of addresses. I sent to 300 paperwallets that are mostly unspent. So fid others. These numbers are a very bad estimate for the market.

Edit: this forum suuuuxxxx on android

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: rpietila on March 20, 2014, 07:05:33 AM

About 1.34 million unless your definition of "dust" is way different than mine (<1mBTC).
Source.

0.001 BTC is 0.60 USD. I doubt that anyone would care about that, not worth one's time to fetch the keys etc. -- unless one has 10,000 such addresses and some automated system to merge or manage them.

So I would exclude accounts below 0.01 BTC (6 USD), and even a fraction of those below 0.1 BTC (60 USD).

mah87

donator

Activity: 756

Merit: 500

-Bitcoin & Ripple-

Bitcoin is coming back to 10$, too much hacked coin...

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: inca on March 20, 2014, 06:35:28 AM

Number of bitcoin addresses (excluding dust) is still around 500,000 if reddit is to be believed. This has a long way to run yet.

About 1.34 million unless your definition of "dust" is way different than mine (<1mBTC).

Source.

joburgtaxi

full member

Activity: 263

Merit: 101

Quote from: JorgeStolfi on March 20, 2014, 06:49:24 AM

Quote from: Bronstad on March 20, 2014, 06:40:56 AM

You can't [ get an avatar ]. They turned off the ability. Apparently it was used as an attack vector to hack the site or something, so they just disabled the ability for people to update them.

"How many systems administrators are needed to replace a light bulb?" "None, the SA will just lock the room and declare it off-limits to everyone."

So why do some have avatars ? I guess they got them before it was disallowed ??

cee-euros

member

Activity: 88

Merit: 10

Serious wall of support on Huobi to 3600
Worth keeping an eye on.
Not sure which exchange is in the driving seat here though,
anyone know?

magicmexican

hero member

Activity: 812

Merit: 1000

3d macd :

1d macd :

who will will?

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: Bronstad on March 20, 2014, 06:40:56 AM

You can't [ get an avatar ]. They turned off the ability. Apparently it was used as an attack vector to hack the site or something, so they just disabled the ability for people to update them.

"How many systems administrators are needed to replace a light bulb?" "None, the SA will just lock the room and declare it off-limits to everyone."

magicmexican

hero member

Activity: 812

Merit: 1000

Huobi looking like a double bottom, but btc-e and especially stamp looking more bearish, interesting

freebit13

hero member

Activity: 616

Merit: 500

I got Satoshi's avatar!

Quote from: Bronstad on March 20, 2014, 06:40:56 AM

Quote from: joburgtaxi on March 20, 2014, 06:34:19 AM

Quick question, how does one add an avatar, I am now a full member but am still getting a red message saying that I am not able to add an avatar.

You can't. They turned off the ability. Apparently it was used as an attack vector to hack the site or something, so they just disabled the ability for people to update them. I suppose one day they will actually update the website, and you can add one then.

Will never happen!

dreamspark

hero member

Activity: 798

Merit: 1000

Quote from: Bronstad on March 20, 2014, 06:40:56 AM

Quote from: joburgtaxi on March 20, 2014, 06:34:19 AM

Quick question, how does one add an avatar, I am now a full member but am still getting a red message saying that I am not able to add an avatar.

You can't. They turned off the ability. Apparently it was used as an attack vector to hack the site or something, so they just disabled the ability for people to update them. I suppose one day they will actually update the website, and you can add one then.

The forum is currently undergoing a $1,000,000 redevelopment project. Id imagine if/when the new forum is rolled out avatars will be a feature.

dreamspark

hero member

Activity: 798

Merit: 1000

Quote from: JorgeStolfi on March 20, 2014, 06:34:55 AM

Quote from: dreamspark on March 20, 2014, 06:28:38 AM

Yes but currently bitcoin isn't propping up the world economy Grin

The point is that the effect of RMB (or USD) inflation on BTC price is well below the noise level.

BTC could be an alternative in countries with, say, 50% inflation per month; but there USD is usually much more attractive than BTC.

I agree for now, we'll see how many people want USD once economies stop trusting it as the world reserve currency. It wont take long for people to follow Russias lead...

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28799. (Read 26686419 times)