Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33700. (Read 26712315 times)
May 16, 2013, 06:02:29 PM
May 16, 2013, 05:51:12 PM
price difference between Gox and other exchanges is still higher than usual.
No doubt there are excellent news today and further rises are to be expected due to the conference in the next 3 days.
But also I think the Gox price rise is driven by people clearing their fiat on Gox by buying BTCs and withdrawing them the f# out.
Thoughts?
No doubt there are excellent news today and further rises are to be expected due to the conference in the next 3 days.
But also I think the Gox price rise is driven by people clearing their fiat on Gox by buying BTCs and withdrawing them the f# out.
Thoughts?
That also means they are dumping on other exchanges to get their fiat back. So it's probably a little of both
May 16, 2013, 05:49:04 PM
price difference between Gox and other exchanges is still higher than usual.
No doubt there are excellent news today and further rises are to be expected due to the conference in the next 3 days.
But also I think the Gox price rise is driven by people clearing their fiat on Gox by buying BTCs and withdrawing them the f# out.
Thoughts?
No doubt there are excellent news today and further rises are to be expected due to the conference in the next 3 days.
But also I think the Gox price rise is driven by people clearing their fiat on Gox by buying BTCs and withdrawing them the f# out.
Thoughts?
May 16, 2013, 05:46:34 PM
Both true. You also can't take 11M BTC as basis for this calculation, because I think the amount of traded BTC is far less. Eitherway, my point is: 300k isn't reachable without a really significant change in the global currency system and not something which is easily reachable, because some VCs invest huge amounts.
bitcoin hit over 1 million a coin last year.
May 16, 2013, 05:42:22 PM
I know this is all over the place, but try to digest this regarding the BTC price: http://libertyblitzkrieg.com/2013/05/16/peter-thiel-gets-the-bitcoin-bug/#more-5747
The scary part to consider is that first big company that takes on BTC. And then, after that, many other larger company will probably feel forced to go along, especially if there is a flow of new funds to supporters of these companies.
Quote
BitPay claimed 1,900 new merchants signed up in April and it continues to sign up over 100 new customers every day. It is currently processing around $5m of Bitcoin transactions per month.
The scary part to consider is that first big company that takes on BTC. And then, after that, many other larger company will probably feel forced to go along, especially if there is a flow of new funds to supporters of these companies.
May 16, 2013, 05:42:15 PM
It's pure Gox-comedy that this was ever possible in the first place 
...
"Until now you could just pretend you had money or coins and place orders ..."
Bitstamp (rightly) won't let you do this. I'd be surprised if there are many exchanges on which this was ever possible. OK ... you can list something on Ebay that you don't have, but that's a bit different ...
..."Until now you could just pretend you had money or coins and place orders ..."
Bitstamp (rightly) won't let you do this. I'd be surprised if there are many exchanges on which this was ever possible. OK ... you can list something on Ebay that you don't have, but that's a bit different ...
The unfunded orders wouldn't show up in the public order book. Just on your account with an insufficient funds error. It was nice because if you only had one currency you could place a bid and an ask. When the funded order filled your other order would activate. Easy enough to script and not worth the performance hit though, so I support the move.
Thanks for the clarification
May 16, 2013, 05:40:56 PM
Both true. You also can't take 11M BTC as basis for this calculation, because I think the amount of traded BTC is far less. Eitherway, my point is: 300k isn't reachable without a really significant change in the global currency system and not something which is easily reachable, because some VCs invest huge amounts.
May 16, 2013, 05:38:45 PM
Correct me, if I'm wrong, because I'm not really sure about the money supply definitions, but here are some numbers about that 300k prediction.
The current M1 money supply of USD, which, as far as I understood, is all the money which is not money out of thin air, is around 2.500 billion USD. We have around 11 million BTC. Our goal 300.000 USD/BTC would result in a market capitalization of 3.300 billion USD.
... ...
The current M1 money supply of USD, which, as far as I understood, is all the money which is not money out of thin air, is around 2.500 billion USD. We have around 11 million BTC. Our goal 300.000 USD/BTC would result in a market capitalization of 3.300 billion USD.
... ...
Who is just talking about America?
Interesting thing I just heard. The actual inflation rate is more like 9.5% (taken from this economist - http://www.theaureport.com/pub/htdocs/expert.html?id=2000
So, just like the unemployment rate (which if we used 1980 stats would be closer to 23.5%) the inflation rate is really distorted.
You don't need an economist, just look at food prices. It varies a bit from item to item, but everything is 5-20% more expensive than a year ago. And yes, food prices have been excluded from official inflation calculations.
May 16, 2013, 05:36:18 PM
Correct me, if I'm wrong, because I'm not really sure about the money supply definitions, but here are some numbers about that 300k prediction.
The current M1 money supply of USD, which, as far as I understood, is all the money which is not money out of thin air, is around 2.500 billion USD. We have around 11 million BTC. Our goal 300.000 USD/BTC would result in a market capitalization of 3.300 billion USD.
... ...
The current M1 money supply of USD, which, as far as I understood, is all the money which is not money out of thin air, is around 2.500 billion USD. We have around 11 million BTC. Our goal 300.000 USD/BTC would result in a market capitalization of 3.300 billion USD.
... ...
Who is just talking about America?
Interesting thing I just heard. The actual inflation rate is more like 9.5% (taken from this economist - http://www.theaureport.com/pub/htdocs/expert.html?id=2000
So, just like the unemployment rate (which if we used 1980 stats would be closer to 23.5%) the inflation rate is really distorted.
May 16, 2013, 05:33:47 PM
Correct me, if I'm wrong, because I'm not really sure about the money supply definitions, but here are some numbers about that 300k prediction.
The current M1 money supply of USD, which, as far as I understood, is all the money which is not money out of thin air, is around 2.500 billion USD. We have around 11 million BTC. Our goal 300.000 USD/BTC would result in a market capitalization of 3.300 billion USD.
... ...
The current M1 money supply of USD, which, as far as I understood, is all the money which is not money out of thin air, is around 2.500 billion USD. We have around 11 million BTC. Our goal 300.000 USD/BTC would result in a market capitalization of 3.300 billion USD.
... ...
But... but.... bitcoin are being bought with money that was created out of thin air, not with M1 money supply
May 16, 2013, 05:31:38 PM
Correct me, if I'm wrong, because I'm not really sure about the money supply definitions, but here are some numbers about that 300k prediction.
The current M1 money supply of USD, which, as far as I understood, is all the money which is not money out of thin air, is around 2.500 billion USD. We have around 11 million BTC. Our goal 300.000 USD/BTC would result in a market capitalization of 3.300 billion USD.
... ...
The current M1 money supply of USD, which, as far as I understood, is all the money which is not money out of thin air, is around 2.500 billion USD. We have around 11 million BTC. Our goal 300.000 USD/BTC would result in a market capitalization of 3.300 billion USD.
... ...
Don't forget that there's a lot more money on this planet than just US dollars alone
May 16, 2013, 05:30:56 PM
It's pure Gox-comedy that this was ever possible in the first place ...
"Until now you could just pretend you had money or coins and place orders ..."
Bitstamp (rightly) won't let you do this. I'd be surprised if there are many exchanges on which this was ever possible. OK ... you can list something on Ebay that you don't have, but that's a bit different ...
..."Until now you could just pretend you had money or coins and place orders ..."
Bitstamp (rightly) won't let you do this. I'd be surprised if there are many exchanges on which this was ever possible. OK ... you can list something on Ebay that you don't have, but that's a bit different ...
The unfunded orders wouldn't show up in the public order book. Just on your account with an insufficient funds error. It was nice because if you only had one currency you could place a bid and an ask. When the funded order filled your other order would activate. Easy enough to script and not worth the performance hit though, so I support the move.
May 16, 2013, 05:27:33 PM
Correct me, if I'm wrong, because I'm not really sure about the money supply definitions, but here are some numbers about that 300k prediction.
The current M1 money supply of USD, which, as far as I understood, is all the money which is not money out of thin air, is around 2.500 billion USD. We have around 11 million BTC. Our goal 300.000 USD/BTC would result in a market capitalization of 3.300 billion USD.
... ...
The current M1 money supply of USD, which, as far as I understood, is all the money which is not money out of thin air, is around 2.500 billion USD. We have around 11 million BTC. Our goal 300.000 USD/BTC would result in a market capitalization of 3.300 billion USD.
... ...
May 16, 2013, 05:18:26 PM
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May 16, 2013, 05:15:45 PM
I'm all in already... and mining! 
Call! 
May 16, 2013, 05:15:39 PM
I also switched positions and went all-in, a few hours back. I laid out my thinking behind it in this thread, if anyone is interested:
https://bitcointalksearch.org/topic/bitcoin-valuation-181037
Once I found a theory in which all the pieces fit, I felt I had no choice but to shift to all-in being my default position.
I'm thinking things are about to get reaaaaal fun
https://bitcointalksearch.org/topic/bitcoin-valuation-181037
Once I found a theory in which all the pieces fit, I felt I had no choice but to shift to all-in being my default position.
I'm thinking things are about to get reaaaaal fun
May 16, 2013, 05:12:47 PM
This probably isn't the place for an in depth philosophical discussion, so I'll just say that I don't at all believe those are the only two possibilities. Party on. 
Actually I did forget about the time element of his $300k prediction,. Neither of those possibilities has to happen this year, but eventually one of them will. 
May 16, 2013, 05:10:16 PM
Bitstamp! Don't tell me your down now...
y u do this
edit: well that was quick. Man, are we really going to rally now?
y u do this
edit: well that was quick. Man, are we really going to rally now?
Yes we are, fasten your seatbelts please.
I've been bearish for a while now but you know what? Why the fuck not, I already bought back in.
To the moon!
May 16, 2013, 05:08:05 PM
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