Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33270. (Read 26463667 times)
May 20, 2013, 06:16:04 PM
Smart. Money.
May 20, 2013, 06:15:17 PM
I never felt this need with gold BTW.
As a store of value, some things are better seen as expensive.
Ie: "oh noes, gold is $1000+ an ounce ... better talk in grams!"
As a store of value, some things are better seen as expensive.
Ie: "oh noes, gold is $1000+ an ounce ... better talk in grams!"
This makes no sense. Why not use Kilo then, since that is the standard unit?
Erm, no, gram is the SI unit. A kilogram is 1000 gram, a milligram is 1/1000th of a gram etcetera.
May 20, 2013, 06:15:11 PM
It looks like the third/forth support point is in play now, it's looking bullish.
May 20, 2013, 06:09:58 PM
If only there was some buying and selling to speculate about....
It looks to me that apart from the occasional big buy or sell, the volume in bitstamp has been about the same as mtgox for the last 8 hours or so. Probably all those BTC transferred out from mtgox to bitstamp getting nibbled away at are feeding back in again, or bank transfers are coming through there. Either way, bitstamp volume getting more interesting - game changing?
May 20, 2013, 06:03:12 PM
May 20, 2013, 06:02:33 PM
May 20, 2013, 06:01:05 PM
there was just a single sell of 650BTC that obliterated the wall at 122 
May 20, 2013, 06:00:28 PM
I never felt this need with gold BTW.
As a store of value, some things are better seen as expensive.
Ie: "oh noes, gold is $1000+ an ounce ... better talk in grams!"
As a store of value, some things are better seen as expensive.
Ie: "oh noes, gold is $1000+ an ounce ... better talk in grams!"
This makes no sense. Why not use Kilo then, since that is the standard unit?
I would like to.
Unfortunately most of continental America uses ounce.
(When talking about PMs)
Edit: BTW, this site shows kilogram as the first price.
May 20, 2013, 06:00:20 PM
A friend in China mentioned today there's growing curiosity about BTC there after it was featured this weekend on CCTV. It's made it to the daily hot topic on sina weibo. Anyone want to speculate on whether/when this might be reflected in the exchanges?
We've discussed this quite a bit since the first CCTV news. Word is that the latest news was neutral to somewhat positive. I think we are going to see adoption in China, both as a speculative investment but also because of the world economic situation. Something we have to consider also, is that people may start to get behind it as a big FU to the USD. That is probably why the government has been pretty open to it.
I imagine that over the next 6 months to a year that China will be the biggest holders of BTC. Just on population alone, it only takes a few thousand wealthy people to make that happen. Just a feeling of a guess.
As the price of BTC goes up, we either need to go to another term e.g. mBTC or do a split (if that is possible). With the latter no one loses holding power as with creating new shares. I just don't see people being as game to buy when the price is high. But, if it truly starts to grow and is seen as valuable, then mBTC will be the new term.
IAS
I agree. It's psychological as much as anything. When we start using mBTC as the standard, I would be surprised if the price didn't increase almost immediately.
If you're a nobody investor without much money, would you feel more comfortable bragging to your friends that that you bought into the BTC market for .1BTC or would you rather say I bought 10,000 mBTC?
I'd rather have the 10,000mBTC == 10BTC
oops lol. Math....
May 20, 2013, 05:56:44 PM
I never felt this need with gold BTW.
As a store of value, some things are better seen as expensive.
Ie: "oh noes, gold is $1000+ an ounce ... better talk in grams!"
As a store of value, some things are better seen as expensive.
Ie: "oh noes, gold is $1000+ an ounce ... better talk in grams!"
This makes no sense. Why not use Kilo then, since that is the standard unit?
May 20, 2013, 05:50:41 PM
A friend in China mentioned today there's growing curiosity about BTC there after it was featured this weekend on CCTV. It's made it to the daily hot topic on sina weibo. Anyone want to speculate on whether/when this might be reflected in the exchanges?
Sure : It will make no difference whatsoever.
That is about as extreme as saying it will cause the price to explode to $10,000. I just don't see how advertising to millions or potentially billions of people will have no effect???
It had pretty much no difference the first time hit hit the TV in China.
There was a little price action based on the hype with money already on the exchanges but that soon died out.
The thing that struck me this time is that he said it was a hot topic on weibo. Does anyone know if that was the case after the earlier mentions on CCTV?
Chinese downloads of the Bitcoin software spiked after the 1st CCTV coverage:
http://sourceforge.net/projects/bitcoin/files/stats/timeline?dates=2013-05-01+to+2013-05-19
They are top country this month:
http://sourceforge.net/projects/bitcoin/files/stats/map?dates=2013-05-01%20to%202013-05-19
May 20, 2013, 05:46:50 PM
I never felt this need with gold BTW.
As a store of value, some things are better seen as expensive.
Ie: "oh noes, gold is $1000+ an ounce ... better talk in grams!"
As a store of value, some things are better seen as expensive.
Ie: "oh noes, gold is $1000+ an ounce ... better talk in grams!"
May 20, 2013, 05:40:47 PM
A friend in China mentioned today there's growing curiosity about BTC there after it was featured this weekend on CCTV. It's made it to the daily hot topic on sina weibo. Anyone want to speculate on whether/when this might be reflected in the exchanges?
We've discussed this quite a bit since the first CCTV news. Word is that the latest news was neutral to somewhat positive. I think we are going to see adoption in China, both as a speculative investment but also because of the world economic situation. Something we have to consider also, is that people may start to get behind it as a big FU to the USD. That is probably why the government has been pretty open to it.
I imagine that over the next 6 months to a year that China will be the biggest holders of BTC. Just on population alone, it only takes a few thousand wealthy people to make that happen. Just a feeling of a guess.
As the price of BTC goes up, we either need to go to another term e.g. mBTC or do a split (if that is possible). With the latter no one loses holding power as with creating new shares. I just don't see people being as game to buy when the price is high. But, if it truly starts to grow and is seen as valuable, then mBTC will be the new term.
IAS
I agree. It's psychological as much as anything. When we start using mBTC as the standard, I would be surprised if the price didn't increase almost immediately.
If you're a nobody investor without much money, would you feel more comfortable bragging to your friends that that you bought into the BTC market for .1BTC or would you rather say I bought 10,000 mBTC?
I'd rather have the 10,000mBTC == 10BTC
May 20, 2013, 05:04:36 PM
Do you not remember the price climbing coincidentally after that?
The price movement had already started before the Chinese event.
Since the crash, the only news that somewhat influenced the price was the MtGox/Dwolla incident.
And even then, the price movement was really lame.
Those initial Chinese qt client downloaders are probably still downloading the blockchain if the internet speeds are anything like they were the last time I went to China.
Good point, hopefully they find Multibit (is it)?
May 20, 2013, 05:03:59 PM
A friend in China mentioned today there's growing curiosity about BTC there after it was featured this weekend on CCTV. It's made it to the daily hot topic on sina weibo. Anyone want to speculate on whether/when this might be reflected in the exchanges?
Sure : It will make no difference whatsoever.
That is about as extreme as saying it will cause the price to explode to $10,000. I just don't see how advertising to millions or potentially billions of people will have no effect???
It had pretty much no difference the first time hit hit the TV in China.
There was a little price action based on the hype with money already on the exchanges but that soon died out.
The thing that struck me this time is that he said it was a hot topic on weibo. Does anyone know if that was the case after the earlier mentions on CCTV?
May 20, 2013, 05:03:31 PM
May 20, 2013, 05:02:56 PM
Do you not remember the price climbing coincidentally after that?
The price movement had already started before the Chinese event.
Since the crash, the only news that somewhat influenced the price was the MtGox/Dwolla incident.
And even then, the price movement was really lame.
Started moving but continued right? I mean we are talking about a volatile thing here. And you ignored the QT Client downloads exploding, as well as the presence of quite a few nodes over there.
Anyway, the bigger point is, How can something being shown to Billions of people in a positive light not have any effect, especially considering the times? That just seems impossible...
May 20, 2013, 04:58:31 PM
Do you not remember the price climbing coincidentally after that?
The price movement had already started before the Chinese event.
Since the crash, the only news that somewhat influenced the price was the MtGox/Dwolla incident.
And even then, the price movement was really lame.
Those initial Chinese qt client downloaders are probably still downloading the blockchain if the internet speeds are anything like they were the last time I went to China.
May 20, 2013, 04:55:50 PM
Do you not remember the price climbing coincidentally after that?
The price movement had already started before the Chinese event.
Since the crash, the only news that somewhat influenced the price was the MtGox/Dwolla incident.
And even then, the price movement was really lame.
May 20, 2013, 04:54:24 PM
A friend in China mentioned today there's growing curiosity about BTC there after it was featured this weekend on CCTV. It's made it to the daily hot topic on sina weibo. Anyone want to speculate on whether/when this might be reflected in the exchanges?
We've discussed this quite a bit since the first CCTV news. Word is that the latest news was neutral to somewhat positive. I think we are going to see adoption in China, both as a speculative investment but also because of the world economic situation. Something we have to consider also, is that people may start to get behind it as a big FU to the USD. That is probably why the government has been pretty open to it.
I imagine that over the next 6 months to a year that China will be the biggest holders of BTC. Just on population alone, it only takes a few thousand wealthy people to make that happen. Just a feeling of a guess.
As the price of BTC goes up, we either need to go to another term e.g. mBTC or do a split (if that is possible). With the latter no one loses holding power as with creating new shares. I just don't see people being as game to buy when the price is high. But, if it truly starts to grow and is seen as valuable, then mBTC will be the new term.
IAS
I agree. It's psychological as much as anything. When we start using mBTC as the standard, I would be surprised if the price didn't increase almost immediately.
If you're a nobody investor without much money, would you feel more comfortable bragging to your friends that that you bought into the BTC market for .1BTC or would you rather say I bought 10,000 mBTC?
Yeah, that psychological barrier is the biggest. But once we cross it, it is behind us. So, at first you are right, people are going to be like "I don't want no .1 BTC for $111!" But when the price keeps going up and then people are talking in mBTC, it won't be a problem. Also, even a noob can understand that a float of 11 million is NOTHING. We have to move those decimal places over.
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