Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33400. (Read 26497254 times)
May 26, 2013, 01:42:54 PM
Just bought 25 btc at mt gox. Currently bouncing between 134 and 135.
May 26, 2013, 01:36:12 PM
http://blockchain.info/charts/estimated-transaction-volume?daysAverageString=7
Get real , everybody is hoarding as much as they can
Get real , everybody is hoarding as much as they can
http://blockchain.info/charts/n-transactions?daysAverageString=7
The number of transactions is rising, but with less volume.
Some nice work from a redditor:
May 26, 2013, 01:35:58 PM
Yeah but, 131 is ~1800 coins away. Fundamentally, nothing has really changed.
Yup, true. But slowly up we go... after leaving 131 behind, it should move veery fast.
Oh yeah, there is nothing stopping it after that. I've just learned to be a little more patient with BitStamp. You see how long it took to break through 130, right?
Additionally, it would seem to me there is alot of continued upward push. As bearish as I like to be, I still see nothing but "open road" ahead. Obviously one whale could send this whole thing crashing but as it stands, this looks to have some continued power behind it.
We are in an interesting phase of price discovery. Clearly a lot of coins are disappearing due to being put in a "savings account" and at the same time we are seeing more coins being used for donations, daily purchases, etc. I wonder how much the price will go up just based on more adoption via actual daily usage??? Really, that is an interesting question as Bitpay and the like are going to be doing the instant conversions so will be creating liquidity at the exchanges.
As the price moves up (and at times violently) we are going to see people call tops and sell. Eventually, I imagine there will be a reasonable distribution, but the early adopters will always hold a portion as they believe in the greater purpose. They will further most likely re-"invest" in Bitcoin in a variety of ways - e.g., legal fund, VC, etc.
Just considering the current float of 11 million or so and the fact that the actual float is probably less than half that, I really would not be shocked at any price this year between what we are at currently and even $1000. I don't care so much about the price, but it is still a very interesting thing to consider as we are still trying to understand what this is...
http://blockchain.info/charts/estimated-transaction-volume?daysAverageString=7
Get real , everybody is hoarding as much as they can
How do you equate transaction volume to hoarding? I'm not saying people are not putting coins in paper wallets, but "hoarding" sounds awfully negative.
Now, even if 90% of coins were hoarded, what would it do?
The hoarders wouldn't see any value as they would be holding, right?
The 8 decimal places (100 million bits per BTC) would make it such that all transactions could still easily take place.
Eventually, some stability would be reached in the price as the volume of full BTC trades (as opposed to fractional trades) would go down, no?
The only thing that hoarding does is add value by decreasing circulating float. It doesn't seem to decrease the efficacy of what BTC is. Actually, it just attracts more people.
I just think too much worry is placed on the hoarding scenario.
IAS
May 26, 2013, 01:33:06 PM
next week starts tomorrow
just sayin...
just sayin...
May 26, 2013, 01:17:14 PM
Yeah but, 131 is ~1800 coins away. Fundamentally, nothing has really changed.
Yup, true. But slowly up we go... after leaving 131 behind, it should move veery fast.
Oh yeah, there is nothing stopping it after that. I've just learned to be a little more patient with BitStamp. You see how long it took to break through 130, right?
Additionally, it would seem to me there is alot of continued upward push. As bearish as I like to be, I still see nothing but "open road" ahead. Obviously one whale could send this whole thing crashing but as it stands, this looks to have some continued power behind it.
We are in an interesting phase of price discovery. Clearly a lot of coins are disappearing due to being put in a "savings account" and at the same time we are seeing more coins being used for donations, daily purchases, etc. I wonder how much the price will go up just based on more adoption via actual daily usage??? Really, that is an interesting question as Bitpay and the like are going to be doing the instant conversions so will be creating liquidity at the exchanges.
As the price moves up (and at times violently) we are going to see people call tops and sell. Eventually, I imagine there will be a reasonable distribution, but the early adopters will always hold a portion as they believe in the greater purpose. They will further most likely re-"invest" in Bitcoin in a variety of ways - e.g., legal fund, VC, etc.
Just considering the current float of 11 million or so and the fact that the actual float is probably less than half that, I really would not be shocked at any price this year between what we are at currently and even $1000. I don't care so much about the price, but it is still a very interesting thing to consider as we are still trying to understand what this is...
http://blockchain.info/charts/estimated-transaction-volume?daysAverageString=7
Get real , everybody is hoarding as much as they can
May 26, 2013, 01:06:53 PM
Yeah but, 131 is ~1800 coins away. Fundamentally, nothing has really changed.
Yup, true. But slowly up we go... after leaving 131 behind, it should move veery fast.
Oh yeah, there is nothing stopping it after that. I've just learned to be a little more patient with BitStamp. You see how long it took to break through 130, right?
Additionally, it would seem to me there is alot of continued upward push. As bearish as I like to be, I still see nothing but "open road" ahead. Obviously one whale could send this whole thing crashing but as it stands, this looks to have some continued power behind it.
We are in an interesting phase of price discovery. Clearly a lot of coins are disappearing due to being put in a "savings account" and at the same time we are seeing more coins being used for donations, daily purchases, etc. I wonder how much the price will go up just based on more adoption via actual daily usage??? Really, that is an interesting question as Bitpay and the like are going to be doing the instant conversions so will be creating liquidity at the exchanges.
As the price moves up (and at times violently) we are going to see people call tops and sell. Eventually, I imagine there will be a reasonable distribution, but the early adopters will always hold a portion as they believe in the greater purpose. They will further most likely re-"invest" in Bitcoin in a variety of ways - e.g., legal fund, VC, etc.
Just considering the current float of 11 million or so and the fact that the actual float is probably less than half that, I really would not be shocked at any price this year between what we are at currently and even $1000. I don't care so much about the price, but it is still a very interesting thing to consider as we are still trying to understand what this is...
May 26, 2013, 01:02:00 PM
May 26, 2013, 12:56:19 PM
at current rate i think the wall is eaten in 2 or 3 days.. there's also a +1k short @ bitfinex that at some point will close its position so it can go faster then we think.
I didn't know that. Mind to tell, where I can find such information?
May 26, 2013, 12:44:32 PM
Yeah but, 131 is ~1800 coins away. Fundamentally, nothing has really changed.
Yup, true. But slowly up we go... after leaving 131 behind, it should move veery fast.
Oh yeah, there is nothing stopping it after that. I've just learned to be a little more patient with BitStamp. You see how long it took to break through 130, right?
Additionally, it would seem to me there is alot of continued upward push. As bearish as I like to be, I still see nothing but "open road" ahead. Obviously one whale could send this whole thing crashing but as it stands, this looks to have some continued power behind it.
May 26, 2013, 12:33:24 PM
at current rate i think the wall is eaten in 2 or 3 days.. there's also a +1k short @ bitfinex that at some point will close its position so it can go faster then we think.
Speaking of BFX, you can tell how long everyone is from how ridiculous the P2P interest rates on USD loans are. Leveraging $1,000 is more expensive (99%) than the variable interest rate (78%), which had an extra ~$90k available in it yesterday. When the price was ~115 you could leverage like 10k for ~25-30%.
Will be a real calamity if someone dumps the price back to $105.
May 26, 2013, 12:29:37 PM
Based on Tony Coleby's chart, this is what I predict for the coming weeks:
(I drew the green, red and gray lines at the end)
(I drew the green, red and gray lines at the end)
I agree, but you seem to forget that we always overshoot. It will probably hit like $200, crash down to about $150, and then slowly converge. In other words, I like the shape of your graph, I just think the zig-zags are smaller than they will actually be.
May 26, 2013, 12:27:08 PM
Yeah but, 131 is ~1800 coins away. Fundamentally, nothing has really changed.
Yup, true. But slowly up we go... after leaving 131 behind, it should move veery fast.
at current rate i think the wall is eaten in 2 or 3 days.. there's also a +1k short @ bitfinex that at some point will close its position so it can go faster then we think.
May 26, 2013, 12:20:20 PM
Is it me, or is someone's bot getting over excited about 0.01btc?
May 26, 2013, 12:19:45 PM
if it only was easy to get gox $ out with sepa and move it to bitstamp.. it would be a done deal already.. clearing that 2k wall.
May 26, 2013, 12:12:13 PM
What's up bulls? 
Nothing really stopping you from running up to 137, what's the deal? I figured with all the bullish talk, you'd be selling your houses trailers by now.
I kid, I kid.
Nothing really stopping you from running up to 137, what's the deal? I figured with all the bullish talk, you'd be selling your I kid, I kid.
May 26, 2013, 12:11:08 PM
Yeah but, 131 is ~1800 coins away. Fundamentally, nothing has really changed.
Yup, true. But slowly up we go... after leaving 131 behind, it should move veery fast.
May 26, 2013, 12:09:39 PM
Quick update from Bitstamp. 130 is done.
Yeah but, 131 is ~1800 coins away. Fundamentally, nothing has really changed.
May 26, 2013, 12:05:26 PM
Quick update from Bitstamp. 130 is done.
May 26, 2013, 12:02:54 PM
Based on Tony Coleby's chart, this is what I predict for the coming weeks:
(I drew the green, red and gray lines at the end)
(I drew the green, red and gray lines at the end)
May 26, 2013, 12:01:46 PM
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