Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32213.

adamstgBit

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Quote from: rampantparanoia on October 10, 2013, 02:09:20 PM

Quote from: niothor on October 10, 2013, 02:06:55 PM

Quote from: rampantparanoia on October 10, 2013, 01:28:59 PM

Quote from: ArticMine on October 10, 2013, 01:25:12 PM

I suspect that a trader that convinces himself or herself that the BTC trading volume in China is fake is in for a rude awakening no matter in which direction the market goes.

+1.

Also don't forget: most of these asics are manufactured in China, and the Chinese have a track record of making cost-friendlier clones (even if its just for themselves)

I bet that when they start those cost-friendlier asic clones they will be mining litecoins instead of bitcoins.
There are quality products made in China but the clones made in China are nightmares.

except that litecoins cannot be mined via asics by design.

that BS....

you mean to say litecoins are not worth enough to bother building an asics minner for it.

rampantparanoia

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Quote from: niothor on October 10, 2013, 02:06:55 PM

Quote from: rampantparanoia on October 10, 2013, 01:28:59 PM

Quote from: ArticMine on October 10, 2013, 01:25:12 PM

I suspect that a trader that convinces himself or herself that the BTC trading volume in China is fake is in for a rude awakening no matter in which direction the market goes.

+1.

Also don't forget: most of these asics are manufactured in China, and the Chinese have a track record of making cost-friendlier clones (even if its just for themselves)

I bet that when they start those cost-friendlier asic clones they will be mining litecoins instead of bitcoins.
There are quality products made in China but the clones made in China are nightmares.

except that litecoins cannot be mined via asics by design.

niothor

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in defi we trust

Quote from: rampantparanoia on October 10, 2013, 01:28:59 PM

Quote from: ArticMine on October 10, 2013, 01:25:12 PM

I suspect that a trader that convinces himself or herself that the BTC trading volume in China is fake is in for a rude awakening no matter in which direction the market goes.

+1.

Also don't forget: most of these asics are manufactured in China, and the Chinese have a track record of making cost-friendlier clones (even if its just for themselves)

I bet that when they start those cost-friendlier asic clones they will be mining litecoins instead of bitcoins.
There are quality products made in China but the clones made in China are nightmares.

ChartBuddy

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rampantparanoia

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Quote from: ArticMine on October 10, 2013, 01:25:12 PM

I suspect that a trader that convinces himself or herself that the BTC trading volume in China is fake is in for a rude awakening no matter in which direction the market goes.

+1.

Also don't forget: most of these asics are manufactured in China, and the Chinese have a track record of making cost-friendlier clones (even if its just for themselves)

giszmo

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Quote from: Grouver (BtcBalance) on October 10, 2013, 06:26:20 AM

Quote from: Luno on October 10, 2013, 05:04:00 AM

In retrospect it seems obvious, but back then, the most optimistic talked prices around 4$ (we got to 7$ in what, two months?) . Anyone posting suggestions of 100-200$ was just like the guys now, talking about 10,000$ in 2015.

Its easier to go from $10 to $100 then from $100 to $1000.
It needs much more volume.

We are far from saturation. Assuming bitcoin will replace fiat, the road from $1 to $10 should be just as hard as from $10 to $100 but at some point this would accelerate as fiat can be printed at will. If it were limited I would agree there would be exponential growth until bitcoin economy is about 10% of fiat economy and there it would have to slow down but if bitcoin takes over the world, you will see 1BTC being traded for 1 trillion USD easily. By that time there might be million dollar bills in circulation that the US.gov promised to back with 1µBTC each and depending on whether people believe it or not, the decline of value will continue.

ArticMine

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Quote from: derpinheimer on October 10, 2013, 12:59:11 PM

Quote from: ArticMine on October 10, 2013, 12:24:22 PM

Quote from: Walsoraj on October 10, 2013, 11:06:26 AM

...
The fact that everybody knows about bitcoin now yet the volume remains pathetically low is a bad sign... Indicates both that the capitulation is yet to come and we may not recover from this one.

There is volume. One simply has to know where to look for it. http://btckan.com/price

40k volume in USD, 40k in CNY.

However, you should notice the Chinese exchanges with volume have... drum roll please... NO FEES.

Open your eyes; its fake volume.

Quote

2. Fees

The process of buying and selling Bitcoins incurs transaction fees, just like the fees you pay when trading other assets. BTC China charges a flat % fee in trading commission, and has recently eliminated deposit fees, to provide an even better value for our users.

Bold my emphasis. Just a sample as this one has an English page. https://btcchina.com/page/aboutus#whatweoffer. Just because they have eliminated transaction fees (交易费) on deposits does not mean they have no fees.

I suspect that a trader that convinces himself or herself that the BTC trading volume in China is fake is in for a rude awakening no matter in which direction the market goes.

niothor

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in defi we trust

Quote from: derpinheimer on October 10, 2013, 12:59:11 PM

Quote from: ArticMine on October 10, 2013, 12:24:22 PM

Quote from: Walsoraj on October 10, 2013, 11:06:26 AM

...
The fact that everybody knows about bitcoin now yet the volume remains pathetically low is a bad sign... Indicates both that the capitulation is yet to come and we may not recover from this one.

There is volume. One simply has to know where to look for it. http://btckan.com/price

40k volume in USD, 40k in CNY.

However, you should notice the Chinese exchanges with volume have... drum roll please... NO FEES.

Open your eyes; its fake volume.

I wouldn't go as far as saying their volume is fake , probably is just a bit "improved" but a normal question would be:
From where the hell is that volume coming ?
Why I'm asking this is because most coins are still mined in Europe and Us , and the largest stash are still here. Maybe China is coming fast from behind but still, I doubt Chinese users have enough coins to topple gox and bitstamp.

And don't even bother to say that comes from chip sales , I doubt there is a factory in China accepting bitcoins when we're talking about millions $ and a slight price correction could wipe their profit.

ChartBuddy

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derpinheimer

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Quote from: ArticMine on October 10, 2013, 12:24:22 PM

Quote from: Walsoraj on October 10, 2013, 11:06:26 AM

...
The fact that everybody knows about bitcoin now yet the volume remains pathetically low is a bad sign... Indicates both that the capitulation is yet to come and we may not recover from this one.

There is volume. One simply has to know where to look for it. http://btckan.com/price

40k volume in USD, 40k in CNY.

However, you should notice the Chinese exchanges with volume have... drum roll please... NO FEES.

Open your eyes; its fake volume.

Miz4r

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Quote from: Walsoraj on October 10, 2013, 12:16:24 PM

Quote from: Miz4r on October 10, 2013, 11:23:02 AM

Stop looking at Gox volume, that is a station long past now.

Cant. No other station has taken its place (bitstamps high volume is only in spurts and has laughable bid depth).

Just another sign that we haven't capitulated yet and the bubble probably wont re-inflate.

You're in denial and are living in the past. Good luck with that.

ArticMine

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Monero Core Team

Quote from: Walsoraj on October 10, 2013, 11:06:26 AM

...
The fact that everybody knows about bitcoin now yet the volume remains pathetically low is a bad sign... Indicates both that the capitulation is yet to come and we may not recover from this one.

There is volume. One simply has to know where to look for it. http://btckan.com/price

Walsoraj

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Quote from: Miz4r on October 10, 2013, 11:23:02 AM

Quote from: Walsoraj on October 10, 2013, 11:06:26 AM

Quote from: theonewhowaskazu on October 10, 2013, 10:37:13 AM

Quote from: Grouver (BtcBalance) on October 10, 2013, 06:26:20 AM

Quote from: Luno on October 10, 2013, 05:04:00 AM

In retrospect it seems obvious, but back then, the most optimistic talked prices around 4$ (we got to 7$ in what, two months?) . Anyone posting suggestions of 100-200$ was just like the guys now, talking about 10,000$ in 2015.

Its easier to go from $10 to $100 then from $100 to $1000.
It needs much more volume.

Not really. At the point in time we were $10, we were 2/3 from the ATH, and practically everybody in the world had written off Bitcoin as a 'dead' currency. Now, we are less than 1/2 from our current ATH, and everybody has seen BTC come back, and BTC has been featured on many news stories, and the BTC economy is a thing, so its much easier to gain traction.

If you ask a random person (ok, I live in silicon valley, so maybe this isn't a representative example, but still) about Bitcoin, they'll at least know that its a digital currency. They might not know what that means exactly, but its a gigantic step forward.

The fact that everybody knows about bitcoin now yet the volume remains pathetically low is a bad sign... Indicates both that the capitulation is yet to come and we may not recover from this one.

Stop looking at Gox volume, that is a station long past now.

Cant. No other station has taken its place (bitstamps high volume is only in spurts and has laughable bid depth).

Just another sign that we haven't capitulated yet and the bubble probably wont re-inflate.

ChartBuddy

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Miz4r

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Quote from: Walsoraj on October 10, 2013, 11:06:26 AM

Quote from: theonewhowaskazu on October 10, 2013, 10:37:13 AM

Quote from: Grouver (BtcBalance) on October 10, 2013, 06:26:20 AM

Quote from: Luno on October 10, 2013, 05:04:00 AM

In retrospect it seems obvious, but back then, the most optimistic talked prices around 4$ (we got to 7$ in what, two months?) . Anyone posting suggestions of 100-200$ was just like the guys now, talking about 10,000$ in 2015.

Its easier to go from $10 to $100 then from $100 to $1000.
It needs much more volume.

Not really. At the point in time we were $10, we were 2/3 from the ATH, and practically everybody in the world had written off Bitcoin as a 'dead' currency. Now, we are less than 1/2 from our current ATH, and everybody has seen BTC come back, and BTC has been featured on many news stories, and the BTC economy is a thing, so its much easier to gain traction.

If you ask a random person (ok, I live in silicon valley, so maybe this isn't a representative example, but still) about Bitcoin, they'll at least know that its a digital currency. They might not know what that means exactly, but its a gigantic step forward.

The fact that everybody knows about bitcoin now yet the volume remains pathetically low is a bad sign... Indicates both that the capitulation is yet to come and we may not recover from this one.

Stop looking at Gox volume, that is a station long past now.

Walsoraj

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Ultranode

Quote from: theonewhowaskazu on October 10, 2013, 10:37:13 AM

Quote from: Grouver (BtcBalance) on October 10, 2013, 06:26:20 AM

Quote from: Luno on October 10, 2013, 05:04:00 AM

In retrospect it seems obvious, but back then, the most optimistic talked prices around 4$ (we got to 7$ in what, two months?) . Anyone posting suggestions of 100-200$ was just like the guys now, talking about 10,000$ in 2015.

Its easier to go from $10 to $100 then from $100 to $1000.
It needs much more volume.

Not really. At the point in time we were $10, we were 2/3 from the ATH, and practically everybody in the world had written off Bitcoin as a 'dead' currency. Now, we are less than 1/2 from our current ATH, and everybody has seen BTC come back, and BTC has been featured on many news stories, and the BTC economy is a thing, so its much easier to gain traction.

If you ask a random person (ok, I live in silicon valley, so maybe this isn't a representative example, but still) about Bitcoin, they'll at least know that its a digital currency. They might not know what that means exactly, but its a gigantic step forward.

The fact that everybody knows about bitcoin now yet the volume remains pathetically low is a bad sign... Indicates both that the capitulation is yet to come and we may not recover from this one.

lucas.sev

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Quote from: theonewhowaskazu on October 10, 2013, 10:37:13 AM

and the BTC economy is a thing, so its much easier to gain traction.

lol wat?

ChartBuddy

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theonewhowaskazu

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Quote from: Grouver (BtcBalance) on October 10, 2013, 06:26:20 AM

Quote from: Luno on October 10, 2013, 05:04:00 AM

In retrospect it seems obvious, but back then, the most optimistic talked prices around 4$ (we got to 7$ in what, two months?) . Anyone posting suggestions of 100-200$ was just like the guys now, talking about 10,000$ in 2015.

Its easier to go from $10 to $100 then from $100 to $1000.
It needs much more volume.

Not really. At the point in time we were $10, we were 2/3 from the ATH, and practically everybody in the world had written off Bitcoin as a 'dead' currency. Now, we are less than 1/2 from our current ATH, and everybody has seen BTC come back, and BTC has been featured on many news stories, and the BTC economy is a thing, so its much easier to gain traction.

If you ask a random person (ok, I live in silicon valley, so maybe this isn't a representative example, but still) about Bitcoin, they'll at least know that its a digital currency. They might not know what that means exactly, but its a gigantic step forward.

ChartBuddy

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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32213. (Read 26473506 times)