Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33429.

niothor

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Quote from: kiko on May 23, 2013, 03:58:01 PM

Quote from: fitty on May 23, 2013, 03:52:00 PM

90% don't own a car. But they're going to use money holding BTC? There is 0 domestic economy in China. Which is their problem.

Have you been under a rock for the last decade? China makes around half a million cars a month, all for domestic consumption.

10% of china pop means roughly 100 milions , with half a million cars built a month it will take around 15 years to get another 10% car owners.

kiko

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Quote from: fitty on May 23, 2013, 03:52:00 PM

90% don't own a car. But they're going to use money holding BTC? There is 0 domestic economy in China. Which is their problem.

Have you been under a rock for the last decade? China makes around half a million cars a month, all for domestic consumption.

Miz4r

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Main resistance at Bitstamp has been overcome. Price will catch up with MtGox again very soon.

niothor

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Quote from: fitty on May 23, 2013, 03:52:00 PM

Quote from: Its About Sharing on May 23, 2013, 03:45:04 PM

Quote from: fitty on May 23, 2013, 03:03:50 PM

Quote from: kiko on May 23, 2013, 12:15:57 PM

That's pretty big news. I don't like the sound of it one bit. The media could dine out on that.

Under 10% of people in China own a car. 40% of families don't own a fridge. The average Chinese person has the same buying power an 9 year old american boy. The people in China with money, will buy/hold/sell BTC as they please. Mass adoption in China was overblown, buying a fridge ranks slightly higher then BTC.

Be careful of statistics, they can show anything you want. Speaking of which...

China has 1.35 Billion People and the US has 315 Million. Now, the US is far and away the biggest BTC using country.
Now try to put your numbers together with my numbers. Remove 40% of the Chines population just on account of the fridges for surely if you don't have a fridge you won't have a computer. But hmmm, maybe you will have an android phone. Anyway, we'll play it safe. So, there is another 810 million people, that is 2.67 times the American population. Without going any further, see where I am going? And if we continue to have currency issues peoples awareness is just going to grow.

How many BTC you think we got anyway? Grin

90% don't own a car. But they're going to use money holding BTC? There is 0 domestic economy in China. Which is their problem.

The people with money, will buy/hold/use BTC. The rest? They weren't a factor anyway.

Any attack by Chinese Govt, probably makes it more popular.

People with money in China either flee or obey the govt. Not doing this is bad for your health.

Coinseeker

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Bitstamp headed to 123. Gox...well...zzzzzzzzzz

fitty

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Quote from: Its About Sharing on May 23, 2013, 03:45:04 PM

Quote from: fitty on May 23, 2013, 03:03:50 PM

Quote from: kiko on May 23, 2013, 12:15:57 PM

That's pretty big news. I don't like the sound of it one bit. The media could dine out on that.

Under 10% of people in China own a car. 40% of families don't own a fridge. The average Chinese person has the same buying power an 9 year old american boy. The people in China with money, will buy/hold/sell BTC as they please. Mass adoption in China was overblown, buying a fridge ranks slightly higher then BTC.

Be careful of statistics, they can show anything you want. Speaking of which...

China has 1.35 Billion People and the US has 315 Million. Now, the US is far and away the biggest BTC using country.
Now try to put your numbers together with my numbers. Remove 40% of the Chines population just on account of the fridges for surely if you don't have a fridge you won't have a computer. But hmmm, maybe you will have an android phone. Anyway, we'll play it safe. So, there is another 810 million people, that is 2.67 times the American population. Without going any further, see where I am going? And if we continue to have currency issues peoples awareness is just going to grow.

How many BTC you think we got anyway? Grin

90% don't own a car. But they're going to use money holding BTC? There is 0 domestic economy in China. Which is their problem.

The people with money, will buy/hold/use BTC. The rest? They weren't a factor anyway.

Any attack by Chinese Govt, probably makes it more popular.

fitty

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Quote from: Odalv on May 23, 2013, 03:41:45 PM

Quote from: fitty on May 23, 2013, 03:03:50 PM

Quote from: kiko on May 23, 2013, 12:15:57 PM

That's pretty big news. I don't like the sound of it one bit. The media could dine out on that.

Under 10% of people in China own a car. 40% of families don't own a fridge. The average Chinese person has the same buying power an 9 year old american boy. The people in China with money, will buy/hold/sell BTC as they please. Mass adoption in China was overblown, buying a fridge ranks slightly higher then BTC.

Today China's population is over 1344 million. (compared to 313 million United States of America, Population)

News flash, China is poor. You think the 99% vs 1% is bad here? It's 10x worse in China. Most of the money is owed by a very very small percentage of the population.

Like I said, 40% of families in China don't even own a fridge, because they're poor as fuck.

Its About Sharing

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Antifragile

Quote from: fitty on May 23, 2013, 03:03:50 PM

Quote from: kiko on May 23, 2013, 12:15:57 PM

That's pretty big news. I don't like the sound of it one bit. The media could dine out on that.

Under 10% of people in China own a car. 40% of families don't own a fridge. The average Chinese person has the same buying power an 9 year old american boy. The people in China with money, will buy/hold/sell BTC as they please. Mass adoption in China was overblown, buying a fridge ranks slightly higher then BTC.

Be careful of statistics, they can show anything you want. Speaking of which...

China has 1.35 Billion People and the US has 315 Million. Now, the US is far and away the biggest BTC using country.
Now try to put your numbers together with my numbers. Remove 40% of the Chines population just on account of the fridges for surely if you don't have a fridge you won't have a computer. But hmmm, maybe you will have an android phone. Anyway, we'll play it safe. So, there is another 810 million people, that is 2.67 times the American population. Without going any further, see where I am going? And if we continue to have currency issues peoples awareness is just going to grow.

How many BTC you think we got anyway? Grin

fitty

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Quote from: ManBearPig on May 23, 2013, 03:11:13 PM

Quote from: mb300sd on May 23, 2013, 12:02:18 PM

I know exactly why it went up... Last night I said f*** it and sold at 124.xx, so of course it rises to 126 today...

You sold 5 days into a consolidation channel when every damn time BTC consolidates for that long on low volume, it rises?

General reply that has nothing to do with mb300.

People forget to factor in fees when they sell. Selling at $124, means you have to get back in at $122.50 just to break even. Realistically to sell at $124 you have to feel like it's going to slide down to $120 to make it worth your while.

I've seen a lot of people who "take profit" and then buy right back in near the same price. Ignoring the fact they just lost a decent chunk of money in fees. A lot of those people with asks between 126-130 will buy right back in. Cancel the ask, save the fees, sell when it peaks. =)

Odalv

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Quote from: fitty on May 23, 2013, 03:03:50 PM

Quote from: kiko on May 23, 2013, 12:15:57 PM

That's pretty big news. I don't like the sound of it one bit. The media could dine out on that.

Under 10% of people in China own a car. 40% of families don't own a fridge. The average Chinese person has the same buying power an 9 year old american boy. The people in China with money, will buy/hold/sell BTC as they please. Mass adoption in China was overblown, buying a fridge ranks slightly higher then BTC.

Today China's population is over 1344 million. (compared to 313 million United States of America, Population)

EDIT: 538M does not have a fridge but 806M has :-)
EDIT2: almost 3 times more fridges than US has :-)

bassclef

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Quote from: Ivanhoe on May 23, 2013, 03:25:12 PM

Bulls on Bitstamp are shifting a gear up.

And the other exchanges are right behind.

kiko

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Quote from: fitty on May 23, 2013, 03:03:50 PM

Quote from: kiko on May 23, 2013, 12:15:57 PM

That's pretty big news. I don't like the sound of it one bit. The media could dine out on that.

Under 10% of people in China own a car. 40% of families don't own a fridge. The average Chinese person has the same buying power an 9 year old american boy. The people in China with money, will buy/hold/sell BTC as they please. Mass adoption in China was overblown, buying a fridge ranks slightly higher then BTC.

You're missing the point. That's 1,200,000,000 cars that now won't be bought with bitcoin, because the people with money in China (the one's who own businesses) will do as they are told and not accept bitcoin. They would rather keep their businesses.

niothor

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Quote from: fitty on May 23, 2013, 03:25:45 PM

Quote from: niothor on May 23, 2013, 03:19:54 PM

I think you're the manipulator trying to manipulate us into thinking we are not manipulated.

Of course i was joking about the bear tag but you know what happens to the people who try to minimalize the AWESOME news about bitcoin.

I'm a bull. I was trying to minimize the bad news about Bitcoin in China. Try to keep up. Wink

Then , rejoyce on this , chinese already know about bitcoin , and there are quite a few who have enough bitcoins now =))).
It was a package worth of around 60k$ ordered on silkroad , late march if i remember..

arne

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Quote from: ManBearPig on May 23, 2013, 03:11:13 PM

Quote from: mb300sd on May 23, 2013, 12:02:18 PM

I know exactly why it went up... Last night I said f*** it and sold at 124.xx, so of course it rises to 126 today...

You sold 5 days into a consolidation channel when every damn time BTC consolidates for that long on low volume, it rises?

Yeah, I read that thing on Reddit (http://www.thegenesisblock.com/bitcoin-trading-are-we-primed-for-a-major-move-higher/).
Don't you need more information than that it happened twice before? In such a young market 'every damn time' doesn't mean so much.

thoughtfan

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First an overview chart I like with weekly weighted moving averages showing the 'massive' spike as a blip we're in the process of healthily recovering from. At the same time it's showing the spectacular volume drop week on week that appears to have very little bearing on the price.

Next zooming in on the last six days I just like how neat that is...

And finally, the most exciting for me is the change in volume balance and catching up of prices by the three closest exchanges to mtgox, bitstamp in particular currently at over a quarter of the total USD exchange value on bitcoincharts.com

Assuming more than a tiny amount of what was mtgox's volume has gone off exchange altogether to OTC or whatever and that it's currently only 62% of the overall volume the comparative low volume of mtgox from before may not be as drastic as it may first appear.

fitty

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Quote from: niothor on May 23, 2013, 03:19:54 PM

I think you're the manipulator trying to manipulate us into thinking we are not manipulated.

Of course i was joking about the bear tag but you know what happens to the people who try to minimalize the AWESOME news about bitcoin.

I'm a bull. I was trying to minimize the bad news about Bitcoin in China. Try to keep up. Wink

Ivanhoe

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Bulls on Bitstamp are shifting a gear up.

niothor

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Quote from: zemario on May 23, 2013, 03:16:53 PM

Quote from: niothor on May 23, 2013, 03:06:17 PM

Quote from: fitty on May 23, 2013, 03:03:50 PM

Quote from: kiko on May 23, 2013, 12:15:57 PM

That's pretty big news. I don't like the sound of it one bit. The media could dine out on that.

Under 10% of people in China own a car. 40% of families don't own a fridge. The average Chinese person has the same buying power an 9 year old american boy. The people in China with money, will buy/hold/sell BTC as they please. Mass adoption in China was overblown, buying a fridge ranks slightly higher then BTC.

You're gonna get a bear tag for this!

Gee, it was a simple market analysis. You guys really need to calm down with the manipulation talk. Honestly, market demand/offer is ALWAYS a stronger force than manipulation. It sounds rather silly to me that people look at the biggest wall on a market and say very securely that it is manipulation. Have it occurred to you guys that the one can only manipulate within his buying power? I.e. one can never manipulate more than one can buy.

I think you're the manipulator trying to manipulate us into thinking we are not manipulated.

Of course i was joking about the bear tag but you know what happens to the people who try to minimalize the AWESOME news about bitcoin.

zemario

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Quote from: niothor on May 23, 2013, 03:06:17 PM

Quote from: fitty on May 23, 2013, 03:03:50 PM

Quote from: kiko on May 23, 2013, 12:15:57 PM

That's pretty big news. I don't like the sound of it one bit. The media could dine out on that.

Under 10% of people in China own a car. 40% of families don't own a fridge. The average Chinese person has the same buying power an 9 year old american boy. The people in China with money, will buy/hold/sell BTC as they please. Mass adoption in China was overblown, buying a fridge ranks slightly higher then BTC.

You're gonna get a bear tag for this!

Gee, it was a simple market analysis. You guys really need to calm down with the manipulation talk. Honestly, market demand/offer is ALWAYS a stronger force than manipulation. It sounds rather silly to me that people look at the biggest wall on a market and say very securely that it is manipulation. Have it occurred to you guys that the one can only manipulate within his buying power? I.e. one can never manipulate more than one can buy.

Getting on-topic, bitstamp resistance is being crushed at a steady pace, we're getting close to nice price pump up. Of course, with mtgox still processing a much larger volume than any other market, this will probably go much slower than what we've seen in the latest bubble, which is actually a good thing.

One thing that is confusing me is the market profile of btce, why is it so concentrated around the trading point?

Who is lining up to stup up as a major player in bitcoin trading? I don't like the current situation at all, bitcoin economy is very fragile, we need much more adoption and even more large markets.

ManBearPig

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Quote from: mb300sd on May 23, 2013, 12:02:18 PM

I know exactly why it went up... Last night I said f*** it and sold at 124.xx, so of course it rises to 126 today...

You sold 5 days into a consolidation channel when every damn time BTC consolidates for that long on low volume, it rises?

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