now its showing over 1 million coins for sale
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32751. (Read 26709306 times)
August 16, 2013, 02:49:10 PM
August 16, 2013, 02:40:22 PM
So... how do they validate market depth?
Currently there are 538,111 Bitcoins for sale at 77.76 EUR. LOL.
correct me if i'm wrong but,
you don't need to send bitcoin to the site in order to place ask/bid
this gives 0 credibility to the order books, but it dose provide an interesting view, someone out there believes he can get 500,000coin for less then 77.76 EUR.
fill his order and watch him try!
in order to sell coins on the site you must transfer them there, so as soon as someone buys some they get locked into escrow automatically. If you have no coins there you're advert will not show.
so their really are 538,111 Bitcoins for sale at 77.76 EUR.
very interesting.
now its showing over 1 million coins for sale
August 16, 2013, 02:23:54 PM
I'm more interested in the volume data, as they can verify that.
August 16, 2013, 02:21:26 PM
So... how do they validate market depth?
Currently there are 538,111 Bitcoins for sale at 77.76 EUR. LOL.
correct me if i'm wrong but,
you don't need to send bitcoin to the site in order to place ask/bid
this gives 0 credibility to the order books, but it dose provide an interesting view, someone out there believes he can get 500,000coin for less then 77.76 EUR.
fill his order and watch him try!
August 16, 2013, 01:15:07 PM
fuck it feels good to be buying again after so long 
August 16, 2013, 12:29:50 PM
So what the hell is the deal with the 22 spread between CampBX and Gox?
we need a sticky thread with a good explanation.
MtGox price is being inflated by people that don't want to sell their anymore, but tons of USD is still stuck their
Stamps / CampBX / virtex, price is being depressed by the mtgox traders moving and coming to sell.
Thanks, sorry I haven't been to this thread in a few days.
August 16, 2013, 12:28:13 PM
I know you will come up with a bunch of excuses instead of admitting you're wrong.
But whatever.
http://bitcoinmagazine.com/bitpay-processes-5-million-in-march-eclipses-silk-road/
Keep in mind this is just from one merchant!
But whatever.
http://bitcoinmagazine.com/bitpay-processes-5-million-in-march-eclipses-silk-road/
Keep in mind this is just from one merchant!
There are no excuses needed, just look at the dates. We are talking about consistency here.
ASIC pre-order waves are hardly that.
You're so predictable. Sad.
Anything else? I offer myself as your steam valve, next time you feel like insulting somebody, insult me. I am already so used to it that I don't mind and you don't have to interrupt any other discussions.
August 16, 2013, 12:27:03 PM
I know you will come up with a bunch of excuses instead of admitting you're wrong.
But whatever.
http://bitcoinmagazine.com/bitpay-processes-5-million-in-march-eclipses-silk-road/
Keep in mind this is just from one merchant!
But whatever.
http://bitcoinmagazine.com/bitpay-processes-5-million-in-march-eclipses-silk-road/
Keep in mind this is just from one merchant!
There are no excuses needed, just look at the dates. We are talking about consistency here.
ASIC pre-order waves are hardly that.
You're so predictable. Sad.
August 16, 2013, 12:23:14 PM
My money just cleared today, so I'm placing bids!
desperately trying not to panic buy...
desperately trying not to panic buy...
August 16, 2013, 12:22:34 PM
So what the hell is the deal with the 22 spread between CampBX and Gox?
we need a sticky thread with a good explanation.
MtGox price is being inflated by people that don't want to sell their anymore, but tons of USD is still stuck their
Stamps / CampBX / virtex, price is being depressed by the mtgox traders moving and coming to sell.
August 16, 2013, 12:10:52 PM
So what the hell is the deal with the 22 spread between CampBX and Gox?
August 16, 2013, 10:58:07 AM
I still think that we just need to wait until all those merchants of cheap $1/$2 electronics on ebay work out they can sell stuff without ebay and paypal taking a huge cut. When that dam breaks, things will get interesting.
Commercial fees on eBay/Paypal on high volume are way lower than the ones you know. You might look somewhere else... alibaba.. those guys actually want to spare the conversion fees. They hardly accept paypal and mostly looking for western union/TT
Fair point.
August 16, 2013, 10:56:54 AM
The problem with that is if you want to outlaw all virtual currencies you have to make the laws broad enough to encompass any new configuration of a virtual currency that might arise. If you make it broad enough to accomplish that goal then you could very well end up inadvertently outlawing all non-local currencies, because at a broad level Bitcoin is indistinguishable from a real-world currency (as Judge Mazzant rightly pointed out). However, you would also make illegal more ‘legitimate’ virtual currencies such as Mint Chip, which is being incubated by the Canadian Mint currently. You’d probably end up making airline miles, zynga coins, and other such variations on the currency theme also illegal. The upshot is that Bitcoin and all other virtual currencies or pseudo currencies cannot be made broadly illegal simply by virtue of the fact they are virtual, and current laws that define currency as a physical commodity or a financial instrument as written are hopelessly out of date and are essentially aiding the proliferation of Bitcoin.
Oh, it's not a bit problem, haven't you been watching the news? You simply make all virtual currencies illegal and only go after Bitcoin.
(Still wouldn't work, mind you).
August 16, 2013, 10:51:04 AM
You can buy cocaine for $2000 in Colombia and sell it for 20k in America. Guess why.
Cocaine is addictive; bitcoin is not.
Yeah, I can quit anytime.
Anytime.
ANYTIME!!!
August 16, 2013, 10:14:00 AM
simple question for you guys
I know you're all hoping for the bitcoin value to rise, but why would it go up since it's divisible up to 8 decimals (and way more apparently?)
I know you're all hoping for the bitcoin value to rise, but why would it go up since it's divisible up to 8 decimals (and way more apparently?)
Because there is only a limited amount of them? Gold is quite divisible as well (theoretically to the AU atoms) but that hasn't stopped it in rising tremendously in the beginning. For the last 100-150 years or so the price is flat (inflation corrected of course) but Bitcoin isn't at that adoption level yet.
Gold does have a divisible limit, Bitcoin does not. You can theoretical have a google (100 zeros) or more behind decimal mark.
The bitcoin price can be anything as long as the majority agrees that it is the right price. If they not agree the market moves accordingly. The concept works perfectly well if it its 1000 or .0001 does not matter.
.
What you saying is completely true. I still answered the original question sufficiently and my example is accurate enough since the theoretical divisibility of gold makes it sufficient for this never to have been an issue (the value of AU smaller than a single atom is far too small).
Not without a major hard-fork, which would also require conversion of the prior blockchain or some fancy hacks. It's about as difficult as changing the total number of Bitcoins or any other fundamental operational variable. Doable but not quite as convenient as you think it is.
^^I disagree with this statement. It is far harder to change the total number of Bitcoins, no miner will accept the new rules. I'm uncertain whether the existing Blockchain will need alteration but I really doubt that is a necessity.
August 16, 2013, 10:02:02 AM
I still think that we just need to wait until all those merchants of cheap $1/$2 electronics on ebay work out they can sell stuff without ebay and paypal taking a huge cut. When that dam breaks, things will get interesting.
Commercial fees on eBay/Paypal on high volume are way lower than the ones you know. You might look somewhere else... alibaba.. those guys actually want to spare the conversion fees. They hardly accept paypal and mostly looking for western union/TT
August 16, 2013, 09:57:41 AM
Asics aside...
Bitpay is not a merchant. They process payments on behalf of merchants (dumping bitcoins on the market so merchants don't have to touch them). This is why Silk Road eclipses all "bitcoin merchants" who are just accepting USD through Bitpay. Regardless, again, what merchant or marketplace is in the same universe?
SR is really the primary organic source of consumers. For the same reason that no merchants want to touch bitcoins (volatility / exchange risk), holders are generally speculators. Who -- except those who are invested -- is going to jump through hoops to buy bitcoins for the sake of buying a gift card or a dating site subscription? Aside from SR, the entire "economy" is based on fiat currency -- hence the quotes. The article you posted actually proves the point -- everything is priced in dollars, as it should be -- that's all anyone cares about. Just the way "bitcoin merchants" want it. Bitpay simply maintains a flow of speculators taking profits via merchants who denominate their merchandise in USD.
I still think that we just need to wait until all those merchants of cheap $1/$2 electronics on ebay work out they can sell stuff without ebay and paypal taking a huge cut. When that dam breaks, things will get interesting.
August 16, 2013, 09:54:01 AM
I agree. However US citizens are the biggest consumers. Companies, manufacturers, etc. depend on the flow of the USD or future speaking US Bitcoin. Without it the growth or even existence is snuffed out.
Where would China be without the US need?
How are the markets in other countries effected when the US tanks?
How many countries will not make enemies with the US?
How many countries will allow their corporations, banks, etc. deal with US citizens aiding them in doing something illegal to US citizens.
How to get bitcoin if the USD is cut off? Perhaps exchange goods and services for it? Lookee, it's a currency. This was the endgame anyway. All it can do is slow things down. Or maybe speed it up.
August 16, 2013, 09:06:50 AM
simple question for you guys
I know you're all hoping for the bitcoin value to rise, but why would it go up since it's divisible up to 8 decimals (and way more apparently?)
I know you're all hoping for the bitcoin value to rise, but why would it go up since it's divisible up to 8 decimals (and way more apparently?)
Because there is only a limited amount of them? Gold is quite divisible as well (theoretically to the AU atoms) but that hasn't stopped it in rising tremendously in the beginning. For the last 100-150 years or so the price is flat (inflation corrected of course) but Bitcoin isn't at that adoption level yet.
Gold does have a divisible limit, Bitcoin does not. You can theoretical have a google (100 zeros) or more behind decimal mark.
The bitcoin price can be anything as long as the majority agrees that it is the right price. If they not agree the market moves accordingly. The concept works perfectly well if it its 1000 or .0001 does not matter.
.
What you saying is completely true. I still answered the original question sufficiently and my example is accurate enough since the theoretical divisibility of gold makes it sufficient for this never to have been an issue (the value of AU smaller than a single atom is far too small).
Not without a major hard-fork, which would also require conversion of the prior blockchain or some fancy hacks. It's about as difficult as changing the total number of Bitcoins or any other fundamental operational variable. Doable but not quite as convenient as you think it is.
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