Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31992.

F-bernanke

sr. member

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Quote from: Spaceman_Spiff on November 16, 2013, 08:26:45 AM

Quote from: justusranvier on November 16, 2013, 08:21:43 AM

Quote from: ardana123 on November 16, 2013, 07:28:15 AM

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

Traditional markets lie.

They let people trade with assets they don't actually have.

Soon enough, Wall Street will get involved and play fractional reserve games with Bitcoin trading.

When that happens just remember - only bitcoins that are in a wallet whose private keys you exclusively control are real. Everything else is just promises back by (potentially) nothing at all.

The beauty of bitcoin is that it is so easy to take "physical" possession of your coins. Fractional reserve games can be dismantled very quickly when there is distrust.

Right on, think about the gold smiths in the old ages, giving out more gold receipts than he fysicly had in his vault.

Spaceman_Spiff

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₪``Campaign Manager´´₪

Quote from: justusranvier on November 16, 2013, 08:21:43 AM

Quote from: ardana123 on November 16, 2013, 07:28:15 AM

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

Traditional markets lie.

They let people trade with assets they don't actually have.

Soon enough, Wall Street will get involved and play fractional reserve games with Bitcoin trading.

When that happens just remember - only bitcoins that are in a wallet whose private keys you exclusively control are real. Everything else is just promises back by (potentially) nothing at all.

The beauty of bitcoin is that it is so easy to take "physical" possession of your coins. Fractional reserve games can be dismantled very quickly when there is distrust.

justusranvier

legendary

Activity: 1400

Merit: 1013

Quote from: ardana123 on November 16, 2013, 07:28:15 AM

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

Traditional markets lie.

They let people trade with assets they don't actually have.

Soon enough, Wall Street will get involved and play fractional reserve games with Bitcoin trading.

When that happens just remember - only bitcoins that are in a wallet whose private keys you exclusively control are real. Everything else is just promises back by (potentially) nothing at all.

TheKoziTwo

legendary

Activity: 1552

Merit: 1047

Quote from: ardana123 on November 16, 2013, 07:48:40 AM

What could this mean if volume starts reaching that of traditional markets

Then I hope you are already wearing your space suit. Wink

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

wilfried

sr. member

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ManualMiner

i dont think so, if bitcoin market becomes mainstream the big player will take the lead and we will be happy if we make profits on the third digit after the comma, as in forex...

see i.e.

http://blogs.reuters.com/felix-salmon/2012/08/06/chart-of-the-day-hft-edition/

haightst

newbie

Activity: 42

Merit: 0

Quote from: ardana123 on November 16, 2013, 07:28:15 AM

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

ok let me make this simple ====>

http://www.otcmarkets.com/stock/GOOG/company-info

GOOG : Shares Outstanding 276,721,703 @ $1033 price per share

BTC : Coins (to be) Outstanding 21,000,000 @ $475 price per coin

*this is why/\BTC could see $10K+ in the coming months!*imho* Cool

ardana123

hero member

Activity: 504

Merit: 500

^ Thanks for the explanation. Even with the shitty volume the bitcoin markets have, the price has reached nearly half that of Google stock. What could this mean if volume starts reaching that of traditional markets, to the m00n?

JimboToronto

legendary

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You're never too old to think young.

Quote from: TERA on November 16, 2013, 05:36:50 AM

Yeah the biggest buy I see now is 1K. There used to be 5K buys, 10K buys, 25K buys... I haven't seen those since August. This is being driven entirely by a lack of supply now. The total accross all exchanges is like 25K btc. This is definitely a danger zone.

Did you even stop to consider that coins worth over $450 now traded for less than $100 in July.

Of course the number of coins per trade will be less than a quarter of what they were last summer.

I know you desperately want the price to go down but you should try to be more realistic. Wishful bear thinking will get you nowhere.

macsga

legendary

Activity: 1484

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Strange, yet attractive.

Quote from: Vycid on November 16, 2013, 07:41:08 AM

Quote from: ardana123 on November 16, 2013, 07:28:15 AM

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

Volume. GOOG averages 2,085,000 shares. That's per day. That means a total transaction value of 2085000 * $1033.56 = $2.155B/day. Bitcoin's total market cap is barely twice that, and its daily volume pales in comparison.

This is a big reason why Bitcoin doesn't behave like a traditional market - it's thinly traded.

The addition of something like the Winklevoss ETF would likely introduce a lot of that traditional market volume into the Bitcoin ecosystem and things would start looking more like Google pretty fast.

Also, Google has metrics like revenue, intellectual property, and so forth that give analysts a reasonable idea of what the company (and thus the stock) is worth. Bitcoin has no clear path to valuation and that means we run on sentiment. We humans are fickle creatures, so running on sentiment alone doesn't do much for price stability.

This!

Vycid

sr. member

Activity: 336

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♫ the AM bear who cares ♫

Quote from: ardana123 on November 16, 2013, 07:28:15 AM

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

Volume. GOOG averages 2,085,000 shares. That's per day. That means a total transaction value of 2085000 * $1033.56 = $2.155B/day. Bitcoin's total market cap is barely twice that, and its daily volume pales in comparison.

This is a big reason why Bitcoin doesn't behave like a traditional market - it's thinly traded.

The addition of something like the Winklevoss ETF would likely introduce a lot of that traditional market volume into the Bitcoin ecosystem and things would start looking more like Google pretty fast.

Also, Google has metrics like revenue, intellectual property, and so forth that give analysts a reasonable idea of what the company (and thus the stock) is worth. Bitcoin has no clear path to valuation and that means we run on sentiment. We humans are fickle creatures, so running on sentiment alone doesn't do much for price stability.

wilfried

sr. member

Activity: 288

Merit: 250

ManualMiner

because people are not told to buy bitcoins, google stock lives from bloody dumb consumers that do what they are told. in terms of bitcoin there is no big daddy telling dos-xx and bitcoin is what i consume..

lebing

legendary

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Enabling the maximal migration

Looking at the chart right now is freaking me out. If we were to do an april all over again 1000 could be exceeded next week. Shocked

ardana123

hero member

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Merit: 500

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

gandhibt

full member

Activity: 238

Merit: 100

How about little weekend rally instead of dip =D

Nagan

member

Activity: 100

Merit: 10

Bitcoin is physical

Quote from: ?? on ??

There is too much risk associated in trading right now that Bitcoin price is so high, one bad trade and you can lost thousands of dollars, that hurts a lot.

This is not the same as when Bitcoin was worth 10 dollars, so people trend to trade less and less, at least common people.

I personally don't give a shit about volatility, dips or corrections, and unless the uptrend is clearly broken i will not sell one single satoshi.

I think most people feels the same.

First world problems Wink

San1ty

sr. member

Activity: 462

Merit: 250

Quote from: ?? on ??

There is too much risk associated in trading right now that Bitcoin price is so high, one bad trade and you can lost thousands of dollars, that hurts a lot.

This is not the same as when Bitcoin was worth 10 dollars, so people trend to trade less and less, at least common people.

I personally don't give a shit about volatility, dips or corrections, and unless the uptrend is clearly broken i will not sell one single satoshi.

I think most people feels the same.

Completely wrong assumption, loss potential is exactly the same.

haightst

newbie

Activity: 42

Merit: 0

Quote from: ?? on ??

Quote from: haightst on November 16, 2013, 07:12:26 AM

Quote from: ?? on ??

There is too much risk associated in trading right now that Bitcoin price is so high, one bad trade and you can lost thousands of dollars, that hurts a lot.

This is not the same as when Bitcoin was worth 10 dollars, so people trend to trade less and less, at least common people.

I personally don't give a shit about volatility, dips or corrections, and unless the uptrend is clearly broken i will not sell one single satoshi.

I think most people feels the same.

THERE IS MY 4-7-5!!!/\KAIN'T SLEEP=NOW I'D SAY START BUYING!! LOL =)

https://i.chzbgr.com/maxW500/5682407680/h6277E6E6/

What an ugly little fish...

he will eat the 500zzz and not look back!~ LMAO Grin

macsga

legendary

Activity: 1484

Merit: 1002

Strange, yet attractive.

BTC is breaking the $500 mark today. After that point anything is possible. Wink

Painful Truth

sr. member

Activity: 294

Merit: 250

Quote from: ?? on ??

There is too much risk associated in trading right now that Bitcoin price is so high, one bad trade and you can lost thousands of dollars, that hurts a lot.

This is not the same as when Bitcoin was worth 10 dollars, so people trend to trade less and less, at least common people.

I personally don't give a shit about volatility, dips or corrections, and unless the uptrend is clearly broken i will not sell one single satoshi.

I think most people feels the same.

Price is high? What do you say at 1,000? 10,000?

People always can buy 0.1 bitcoin. Price is still below $50.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31992. (Read 26608824 times)