Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32511. (Read 26609531 times)
October 02, 2013, 05:26:36 PM
I haven't inspected either right now, but it might just be because of differing timezones presuming you are looking at daily candles.
October 02, 2013, 05:24:57 PM
Nice to see daily volume over 100,000 again 
Wow, I didn't notice until now. Major volume. bitcoinccharts down for me, and according to
http://data.bitcoinity.org/#ccbcdfdfaa
we had 175.000 volume
while
http://bitcoinwisdom.com/markets/mtgox/btcusd
says 100.000 (or doesn't V: stand for volume in this case?)
any other reliable source?
October 02, 2013, 05:05:27 PM
Nice to see daily volume over 100,000 again
Wow, I didn't notice until now. Major volume. October 02, 2013, 05:02:05 PM
October 02, 2013, 05:01:44 PM
October 02, 2013, 04:57:24 PM
imo I would still be cautious. SR accounted for ~300-400 million in revenue a year for bitcoins. Much of which was from fresh money being brought in by customers. I don't know of anything else in the same stratosphere in terms of bringing in money into the network. SR was/is a big deal. Will there be other sites to take its place? Sure.. but to what extent they will fill that void remains to be seen. Also will customers/vendors of these sites be weary about jumping back into this market?
Bitcoin doesn't earn revenue, and SR was mostly neutral for supply and demand.
Buyers bought btc, sellers sold btc to buy product.
*
this
from an economical standpoint the impact isn' that hard. i read in one of the SRbust threads that only about 10% of monthly transaction volume came from SR and I'm quite sure not every buyer used gox or bitstamp.
SR was a good opportunity for the first wave of worldwide spread but economy has grown up and is so much more versatile today.
I'm sure decentralisation in SR's marketsector is a good sign in the same sense as gox volume is slowly evening out with other exchanges.
i'd still be surprised if this short rumble is already over until tomorrow
this is such a perfect situation for a whale to have some fun...
October 02, 2013, 04:51:58 PM
btc-e just hit 95...... wonder where we go from here. 
October 02, 2013, 04:51:35 PM
Nice to see daily volume over 100,000 again
October 02, 2013, 04:50:04 PM
If we hit 110$ once, we can hit that low again. I hope Gox won't lag anymore, so I can trade without worrying about my order being 5 min late.
Its 20kBTC away from $110 after touching it twice hours ago. Seems unlikely.
stamp dropping fast from 110, now 102........ it will lead the next drop;......
Sure hope so.
imo I would still be cautious. SR accounted for ~300-400 million in revenue a year for bitcoins. Much of which was from fresh money being brought in by customers. I don't know of anything else in the same stratosphere in terms of bringing in money into the network. SR was/is a big deal. Will there be other sites to take its place? Sure.. but to what extent they will fill that void remains to be seen. Also will customers/vendors of these sites be weary about jumping back into this market?
Bitcoin doesn't earn revenue, and SR was mostly neutral for supply and demand.
Buyers bought btc, sellers sold btc to buy product.
*
this
By this atrocious logic, bitcoin could be valued at$1 and be a useful currency.
No. The bigger the operation, the more money it needs to function, even with no net gain loss.
October 02, 2013, 04:48:51 PM
If we hit 110$ once, we can hit that low again. I hope Gox won't lag anymore, so I can trade without worrying about my order being 5 min late.
Its 20kBTC away from $110 after touching it twice hours ago. Seems unlikely.
stamp dropping fast from 110, now 102........ it will lead the next drop;......
edit: btc-e at 98 and the fun begins!!!!
October 02, 2013, 04:44:23 PM
fasten your seatbelts!
October 02, 2013, 04:43:21 PM
I don't mean immediately. But there's the potential to drop again tomorrow.
Right now the price has peaked and I'm curious to see how low will the limited drop be.
Should give me a hint about the final bottom.
Right now the price has peaked and I'm curious to see how low will the limited drop be.
Should give me a hint about the final bottom.
October 02, 2013, 04:41:51 PM
imo I would still be cautious. SR accounted for ~300-400 million in revenue a year for bitcoins. Much of which was from fresh money being brought in by customers. I don't know of anything else in the same stratosphere in terms of bringing in money into the network. SR was/is a big deal. Will there be other sites to take its place? Sure.. but to what extent they will fill that void remains to be seen. Also will customers/vendors of these sites be weary about jumping back into this market?
Bitcoin doesn't earn revenue, and SR was mostly neutral for supply and demand.
Buyers bought btc, sellers sold btc to buy product.
*
this
October 02, 2013, 04:41:31 PM
If we hit 110$ once, we can hit that low again. I hope Gox won't lag anymore, so I can trade without worrying about my order being 5 min late.
Its 20kBTC away from $110 after touching it twice hours ago. Seems unlikely.
October 02, 2013, 04:37:16 PM
If we hit 110$ once, we can hit that low again. I hope Gox won't lag anymore, so I can trade without worrying about my order being 5 min late.
Its 20kBTC away from $110 after touching it twice hours ago. Seems unlikely.
October 02, 2013, 04:33:39 PM
If we hit 110$ once, we can hit that low again. I hope Gox won't lag anymore, so I can trade without worrying about my order being 5 min late.
October 02, 2013, 04:26:37 PM
so looks like the show is over ... what now?
kudos to that bilateral humour
,last episode is sitting on my disk ready to watch, perfect for closure of an exciting evening.
October 02, 2013, 04:23:27 PM
imo I would still be cautious. SR accounted for ~300-400 million in revenue a year for bitcoins. Much of which was from fresh money being brought in by customers. I don't know of anything else in the same stratosphere in terms of bringing in money into the network. SR was/is a big deal. Will there be other sites to take its place? Sure.. but to what extent they will fill that void remains to be seen. Also will customers/vendors of these sites be weary about jumping back into this market?
Bitcoin doesn't earn revenue, and SR was mostly neutral for supply and demand.
Buyers bought btc, sellers sold btc to buy product.
Its just one data point but the amount of BTC seized (26,000 by one media outlet) tells us how much SR was affecting the supply of coin. In other words, not much. And this coin may be tied up as evidence for quite some time so its confiscation is not about to affect supply.
However, I would imagine that the SR economy formed a group of people willing to buy and sell at the current price whatever that might be (I'm assuming the drug price is in USD and constantly repriced in BTC, and of course that addicts need for a fix is fairly price insensitive -- but I don't actually know having never been to SR). So some liquidity may leave the system.
Maybe a small amount... but certainly not $300-400 million worth.
October 02, 2013, 04:23:06 PM
Ot: Australia & China are just waking up, & will be greeted with this news. I expect another $20 drop.
I'm in Australia and I'm just going to bed :] 5:20 am
October 02, 2013, 04:22:02 PM
imo I would still be cautious. SR accounted for ~300-400 million in revenue a year for bitcoins. Much of which was from fresh money being brought in by customers. I don't know of anything else in the same stratosphere in terms of bringing in money into the network. SR was/is a big deal. Will there be other sites to take its place? Sure.. but to what extent they will fill that void remains to be seen. Also will customers/vendors of these sites be weary about jumping back into this market?
Bitcoin doesn't earn revenue, and SR was mostly neutral for supply and demand.
Buyers bought btc, sellers sold btc to buy product.
Its just one data point but the amount of BTC seized (26,000 by one media outlet) tells us how much SR was affecting the supply of coin. In other words, not much. And this coin may be tied up as evidence for quite some time so its confiscation is not about to affect supply.
However, I would imagine that the SR economy formed a group of people willing to buy and sell at the current price whatever that might be (I'm assuming the drug price is in USD and constantly repriced in BTC, and of course that addicts need for a fix is fairly price insensitive -- but I don't actually know having never been to SR). So some liquidity may leave the system.
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