Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30517.

Davyd05

hero member

Activity: 574

Merit: 500

Quote from: aminorex on January 06, 2014, 01:47:07 AM

Quote from: Davyd05 on January 06, 2014, 01:44:52 AM

Its still a new market, it will have these growing pains but I see the world waking up quickly on this, which will impart bring instability during price swings but , none the less this is exciting innovation we're seeing and experiencing

The instability is due to the price being too low. That's unsustainable. When the price is high enough, liquidity will be balanced.

I agree, can I assume that the coins end up better dispersed during rallies as they aren't massively dumped into bigger hands with large crash orders preset?

medialab101

hero member

Activity: 583

Merit: 500

Quote from: traderCJ on January 06, 2014, 01:50:59 AM

Is there some good news out of China or something? They seem to be pushing aggressively.

This is the reset to pre-crash levels. People just decided it's time i guess.

windjc

legendary

Activity: 2156

Merit: 1070

Quote from: traderCJ on January 06, 2014, 01:50:59 AM

Is there some good news out of China or something? They seem to be pushing aggressively.

China didnt start this rally at $125 and they are no longer leading it now.

People need to realize what is going on.

aminorex

legendary

Activity: 1596

Merit: 1030

Sine secretum non libertas

Quote from: traderCJ on January 06, 2014, 01:50:59 AM

Is there some good news out of China or something? They seem to be pushing aggressively.

Not since Tian-an-men.

windjc

legendary

Activity: 2156

Merit: 1070

Quote from: traderCJ on January 06, 2014, 01:48:37 AM

Quote from: HairyMaclairy on January 06, 2014, 01:22:13 AM

Quote from: aminorex on January 05, 2014, 10:55:34 PM

There are about 25,000 coins left on all the exchanges put together. Just guesstimating -- didn't actually count them.

For about 40 million you could get a corner on bitcoin.

That's about 9 days of mining output.

If this is correct this makes the current market price meaningless. BTC is ridiculously thinly traded.

Further you cannot extract a market cap out to 12 million coins based on trades of 25,000 coins. People saying BTC has a market cap of $12 billion fail to appreciate what would happen if one whale stirred.

People will probably flame me for saying this but whatever. I am contributing by buying and hodling.

You're right. In theory, one coin could be sold for $100k USD and for that brief moment, the market cap would be ~$1.2 trillion.

You guys realize as the more and more big players and funds get involved the more BTC will be sold OFF EXCHANGE and that the # of bitcoins sold on exchanges will DECREASE overtime?

Its these little obvious facts that seem to evade people who doubt the price of bitcoin can't go much higher.

hyphymikey

hero member

Activity: 784

Merit: 1000

3852 pages of people telling you how to lose all your bitcoin by trading.

Well done, you got me!

traderCJ

sr. member

Activity: 280

Merit: 250

Is there some good news out of China or something? They seem to be pushing aggressively.

versace

newbie

Activity: 42

Merit: 0

bitstamp well on its way to 1000

medialab101

hero member

Activity: 583

Merit: 500

Gox 1050 wall just disappeared.

traderCJ

sr. member

Activity: 280

Merit: 250

Quote from: HairyMaclairy on January 06, 2014, 01:22:13 AM

Quote from: aminorex on January 05, 2014, 10:55:34 PM

There are about 25,000 coins left on all the exchanges put together. Just guesstimating -- didn't actually count them.

For about 40 million you could get a corner on bitcoin.

That's about 9 days of mining output.

If this is correct this makes the current market price meaningless. BTC is ridiculously thinly traded.

Further you cannot extract a market cap out to 12 million coins based on trades of 25,000 coins. People saying BTC has a market cap of $12 billion fail to appreciate what would happen if one whale stirred.

People will probably flame me for saying this but whatever. I am contributing by buying and hodling.

You're right. In theory, one coin could be sold for $100k USD and for that brief moment, the market cap would be ~$1.2 trillion.

aminorex

legendary

Activity: 1596

Merit: 1030

Sine secretum non libertas

Quote from: Davyd05 on January 06, 2014, 01:44:52 AM

Its still a new market, it will have these growing pains but I see the world waking up quickly on this, which will impart bring instability during price swings but , none the less this is exciting innovation we're seeing and experiencing

The instability is due to the price being too low. That's unsustainable. When the price is high enough, liquidity will be balanced.

Davyd05

hero member

Activity: 574

Merit: 500

Quote from: HairyMaclairy on January 06, 2014, 01:22:13 AM

Quote from: aminorex on January 05, 2014, 10:55:34 PM

There are about 25,000 coins left on all the exchanges put together. Just guesstimating -- didn't actually count them.

For about 40 million you could get a corner on bitcoin.

That's about 9 days of mining output.

If this is correct this makes the current market price meaningless. BTC is ridiculously thinly traded.

Further you cannot extract a market cap out to 12 million coins based on trades of 25,000 coins. People saying BTC has a market cap of $12 billion fail to appreciate what would happen if one whale stirred.

People will probably flame me for saying this but whatever. I am contributing by buying and hodling.

Its still a new market, it will have these growing pains but I see the world waking up quickly on this, which will impart bring instability during price swings but , none the less this is exciting innovation we're seeing and experiencing

spooderman

legendary

Activity: 1680

Merit: 1045

wow this week is going to be fun Cheesy

aminorex

legendary

Activity: 1596

Merit: 1030

Sine secretum non libertas

Quote from: HairyMaclairy on January 06, 2014, 01:22:13 AM

People will probably flame me for saying this but whatever. I am contributing by buying and hodling.

Contributing to the liquidity problem, that is. But I could just as well have said 2,500,000,000,000 satoshis. It's not like you can't trade satoshis. The fact that people want them removes them from the exchanges. But that doesn't make the market somehow defective. It just means the price is too low.

wobber

legendary

Activity: 1064

Merit: 1001

IMPORTANT MILESTONE AHEAD: 30day high is about to be attacked on both Stamp and Gox.

molecular

donator

Activity: 2772

Merit: 1019

good morning Bitcoin!

fotosonics

full member

Activity: 280

Merit: 100

Quote from: Davyd05 on January 06, 2014, 01:21:52 AM

Quote from: Ashitank on January 06, 2014, 01:19:11 AM

lol 400 btc wall @ stamp between 947~948 got eaten-up Shocked

..many people are afraid of the Chinese coming down on people

and people are buying it up to 955 now lol

Looks like I will have to wait til the next dive to buy, no fiat to buy more with til Wednesday when I am sure it will be at the ATH :/

Ashitank

hero member

Activity: 560

Merit: 500

Quote from: Davyd05 on January 06, 2014, 01:21:52 AM

Quote from: Ashitank on January 06, 2014, 01:19:11 AM

lol 400 btc wall @ stamp between 947~948 got eaten-up Shocked

..many people are afraid of the Chinese coming down on people

and people are buying it up to 955 now lol

I guess we will go upto 970~990 range on stamp after which we can have a small drop.

HairyMaclairy

legendary

Activity: 1442

Merit: 2282

Degenerate bull hatter & Bitcoin monotheist

Quote from: aminorex on January 05, 2014, 10:55:34 PM

There are about 25,000 coins left on all the exchanges put together. Just guesstimating -- didn't actually count them.

For about 40 million you could get a corner on bitcoin.

That's about 9 days of mining output.

If this is correct this makes the current market price meaningless. BTC is ridiculously thinly traded.

Further you cannot extract a market cap out to 12 million coins based on trades of 25,000 coins. People saying BTC has a market cap of $12 billion fail to appreciate what would happen if one whale stirred.

People will probably flame me for saying this but whatever. I am contributing by buying and hodling.

Davyd05

hero member

Activity: 574

Merit: 500

Quote from: Ashitank on January 06, 2014, 01:19:11 AM

lol 400 btc wall @ stamp between 947~948 got eaten-up Shocked

..many people are afraid of the Chinese coming down on people

and people are buying it up to 955 now lol

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30517. (Read 26713514 times)