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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31677. (Read 26724225 times)

donator
Activity: 2772
Merit: 1019
can i ask a question? when the buy is smaller than the ask/sell number.. that means there are more people willing to sell than buy right?

It's not that simple.  For one thing, there are more people willing to buy or sell than the number of people who have positions on the orderbook.  I may be willing to sell, but may not want to let the market know that I'm willing to sell by putting an ask/sell order on an orderbook.  Instead, I might just execute a market order and sell directly into the buy orders.  Similarly, buyers may wish to buy, but might not advertise that on the orderbook, and might, instead, buy some of the ask/sell orders sitting on the book.

Or: someone might actually be willing to buy, but will put a big sell order into the book to scare the market down.
donator
Activity: 2772
Merit: 1019
Now will 15.5 oz of silver ever equal 1 oz of gold again?

absolutely

If time is eternal, everything will eventually happen unless we repeat in a loop.
sr. member
Activity: 330
Merit: 250
come on bitstamp and mtgox ATH ATH!
full member
Activity: 220
Merit: 100
Litecoin is approaching a tenth of Bitcoin's market cap. That's probably too high given Litecoin's utility: hedge, tumbler, arbitrage instrument, testing ground for new ideas, and fallback in case of catastrophe. The market cap doesn't need to be much higher (as a % of BTC market cap) for those functions, except maybe hedging, so it won't be.

You can see the hedge function at work very clearly in the past few days: people want less exposure to Bitcoin but don't want fiat, so they buy altcoins. Once it's clear Bitcoin is again on the move upward, the coins will drain out of the alts and back into BTC. The altcoins are like Bitcoin's inflatable cushion. They reduce volatility and even existential risk.

Imo most events that can effect bitcoin and litecoin clearly are not independent. For example if US bans bitcoin you can be pretty sure that they also will ban litecoins. And if someone 51% bitcoin they sure can 51% litecoin also. So the case for litecoin is even weaker.
legendary
Activity: 2156
Merit: 1070
Price isn't moving because everyone's busy pumping alt-coins.
 Grin

I personally learned a lot in the last 36 hours regarding the crypto market and how it reacts to rallys in Bitcoin. I completely missed the boat with this most recent alt rally. And now that it has happened it seems so absolutely obvious to me. So when the time is right, I will not be making that mistake again. Lesson learned. Live and learn.

(Meanwhile, 3 days left for BTC to hit $1000. My best guess was always today or tomorrow, but we will see. I wonder if its just going to happen in a split instance or if Gox is going to tease us for a few more days?)
legendary
Activity: 2674
Merit: 2373
1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
Price isn't moving because everyone's busy pumping alt-coins.
 Grin

It's waiting for me to go to bed. I can tell.
hero member
Activity: 574
Merit: 500
Price isn't moving because everyone's busy pumping alt-coins.
 Grin
they're actually dumping them as we speak.. 2 dollar down trend in ltc and nvc.. either way.. I'm really looking forward to staying up all night to watch the 1k hit
sr. member
Activity: 448
Merit: 250
Price isn't moving because everyone's busy pumping alt-coins.
 Grin
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1484
Merit: 1002
Strange, yet attractive.
Great news to read 1st thing in the morning... (well... uhm, OK, after this thread) Grin
http://www.businessinsider.com/is-bitcoin-about-to-change-the-world-2013-11
legendary
Activity: 1078
Merit: 1006
100 satoshis -> ISO code
Awesome. Now that you mention it, I do remember it hitting $1000 in Chinese exchanges, but this is way more exciting to follow.

Thanks for answering!

During that mania someone paid $3,600 per btc, which must be the world record so far.
legendary
Activity: 3388
Merit: 4775
diamond-handed zealot
And are the current fiat currencies going back to zero before or after bitcoin ?

I will bid my 1BTC to your 0.5BTC that the US dollar ceases to be an international reserve currency before BTC trades with a daily VWAP under 1 dollar (US2013 PP).
I will bid my 0.5BTC to your 1BTC that the US treasury defaults on debt before BTC trades with a daily VWAP under 1 dollar (US2013 PP).

That is sort of like heads I win tails you lose. In the cases here where you win the btc recieved is worth a lot while in the cases you lose the btc given is worthless. ..

the force is strong with this one
legendary
Activity: 1153
Merit: 1000
And are the current fiat currencies going back to zero before or after bitcoin ?

I will bid my 1BTC to your 0.5BTC that the US dollar ceases to be an international reserve currency before BTC trades with a daily VWAP under 1 dollar (US2013 PP).
I will bid my 0.5BTC to your 1BTC that the US treasury defaults on debt before BTC trades with a daily VWAP under 1 dollar (US2013 PP).

That is sort of like heads I win tails you lose. In the cases here where you win the btc recieved is worth a lot while in the cases you lose the btc given is worthless. ..
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
Unability to understand something and rationality are two different things.

Oh so sadly true, and abundantly illustrated in these forums and in the press. 

And are the current fiat currencies going back to zero before or after bitcoin ?

I will bid my 1BTC to your 0.5BTC that the US dollar ceases to be an international reserve currency before BTC trades with a daily VWAP under 1 dollar (US2013 PP).
I will bid my 0.5BTC to your 1BTC that the US treasury defaults on debt before BTC trades with a daily VWAP under 1 dollar (US2013 PP).

Value exists only in the minds of people

While true in a sense, this is misleading.  Bitcoin has fundamental value as money.  Most punters fail to understand how to value money.  PQ=MV dawg.
legendary
Activity: 1036
Merit: 1000
Litecoin is approaching a tenth of Bitcoin's market cap. That's probably too high given Litecoin's utility: hedge, tumbler, arbitrage instrument, testing ground for new ideas, and fallback in case of catastrophe. The market cap doesn't need to be much higher (as a % of BTC market cap) for those functions, except maybe hedging, so it won't be.

You can see the hedge function at work very clearly in the past few days: people want less exposure to Bitcoin but don't want fiat, so they buy altcoins. Once it's clear Bitcoin is again on the move upward, the coins will drain out of the alts and back into BTC. The altcoins are like Bitcoin's inflatable cushion. They reduce volatility and even existential risk.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 2016
Merit: 1259
:-XHere's a question - considering the Mt. Gox high (at the time of writing) is $985, and as far as I can tell, that's an all-time high and easily the highest of all the exchanges, does that mean that whoever places an order to buy at $1000 will be the first ever buyer of bitcoin(s) sold through an exchange at $1000+?

That's gotta be notable, right?

No it reached over 1000 USD in China one week ago.
But priced in USD it will be the first time and yes, will be very notable.

So do it already  Grin
sr. member
Activity: 338
Merit: 250
Speculative interest is all that is driving Bitcoin. Well that and Satoshi dice.

Context :
Of course, but the activity of non speculators is not sufficient to support current valuation or anything even close to it; even more so now that Silk Road has gone which did give Bitcoin some unique  utility in terms of accessing that market.

Yup. You were right weren't you. That valuation could not be sustained  Smiley.


It can't. The market can certainly remain irrational for a good while yet, but longer term all these currencies are headed straight back to whence they came: zero.


This is maybe true, but what timeline are you talking about ?

If you could explain what is irrational about a 12 billion market cap for bitcoin based on the information available today ? Unability to understand something and rationality are two different things.

And are the current fiat currencies going back to zero before or after bitcoin ?

Value exists only in the minds of people
member
Activity: 126
Merit: 10
Awesome. Now that you mention it, I do remember it hitting $1000 in Chinese exchanges, but this is way more exciting to follow.

Thanks for answering!
sr. member
Activity: 338
Merit: 250
:-XHere's a question - considering the Mt. Gox high (at the time of writing) is $985, and as far as I can tell, that's an all-time high and easily the highest of all the exchanges, does that mean that whoever places an order to buy at $1000 will be the first ever buyer of bitcoin(s) sold through an exchange at $1000+?

That's gotta be notable, right?

No it reached over 1000 USD in China one week ago.
But priced in USD it will be the first time and yes, will be very notable.
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