Topic: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. (Read 2697 times)
February 24, 2013, 01:13:47 PM
Very nice big-picture resources. Thank you.
Clearly a bullish trend unless those charts start going sideways or reversing.
February 24, 2013, 04:29:09 AM
So it looks like from those charts that the bids are at a relative all-time high? IE, the demand FOR coin is huge?
Yes, indeed, which makes sense with the record high market cap. I would add a word of caution though when comparing the levels of bid vs ask in these charts that the bid y-axis is denominated in USD, while the ask is denominated in BTC.
Ah, a good distinction, didn't see that, thanks. But still, the first tick there is 1,000 KUSD so $1M which equates to 50K coins. So not sure when those charts were made but that's still equating value to $20 a coin. Sure it'd be a bit different at $30 per but if the overall trend is accurate, that's great! Charts do appear pretty current, though.
February 23, 2013, 11:08:26 PM
So it looks like from those charts that the bids are at a relative all-time high? IE, the demand FOR coin is huge?
Yes, indeed, which makes sense with the record high market cap. I would add a word of caution though when comparing the levels of bid vs ask in these charts that the bid y-axis is denominated in USD, while the ask is denominated in BTC.
February 23, 2013, 08:10:16 PM
the 3rd graph certainly looks powerful to me, thanks for sharing
February 23, 2013, 07:08:55 PM
So it looks like from those charts that the bids are at a relative all-time high? IE, the demand FOR coin is huge?
February 23, 2013, 05:54:32 PM
What is the meaning and significance "days destroyed".
Thanks.
It's not bitcoin days-destroyed, it's bitcoin-days destroyed. Bitcoin-days is like a man-hour or a kilowatt-hour - it's a unit that measures the extent to which bitcoins are sitting in wallets without circulating. For instance, if 1BTC has remained in the same wallet for 100 days, that's 100 bitcoin-days, and sending that 1BTC to a new address after such a long time would "destroy" 100 bitcoin-days (because they transform into 1BTC that has stood still for 0 days = 0 bitcoin-days). 100BTC that were last moved 1 day ago would be the same.Thanks.
Thus, "Bitcoin-Days destroyed" is a metric of how much BTC is moving in the economy - especially BTC that is once again moving after having remained in storage for a long time.
So it's a measure of velocity of BTC.
Thanks.
No it means old coins that hasn't moved for a long time, is moving now, I think mostly likely they are moving to sell.
February 23, 2013, 10:39:33 AM
What is the meaning and significance "days destroyed".
Thanks.
It's not bitcoin days-destroyed, it's bitcoin-days destroyed. Bitcoin-days is like a man-hour or a kilowatt-hour - it's a unit that measures the extent to which bitcoins are sitting in wallets without circulating. For instance, if 1BTC has remained in the same wallet for 100 days, that's 100 bitcoin-days, and sending that 1BTC to a new address after such a long time would "destroy" 100 bitcoin-days (because they transform into 1BTC that has stood still for 0 days = 0 bitcoin-days). 100BTC that were last moved 1 day ago would be the same.Thanks.
Thus, "Bitcoin-Days destroyed" is a metric of how much BTC is moving in the economy - especially BTC that is once again moving after having remained in storage for a long time.
So it's a measure of velocity of BTC.
Thanks.
No it means old coins that hasn't moved for a long time, is moving now, I think mostly likely they are moving to sell.
February 23, 2013, 09:08:09 AM
What is the meaning and significance "days destroyed".
Thanks.
It's not bitcoin days-destroyed, it's bitcoin-days destroyed. Bitcoin-days is like a man-hour or a kilowatt-hour - it's a unit that measures the extent to which bitcoins are sitting in wallets without circulating. For instance, if 1BTC has remained in the same wallet for 100 days, that's 100 bitcoin-days, and sending that 1BTC to a new address after such a long time would "destroy" 100 bitcoin-days (because they transform into 1BTC that has stood still for 0 days = 0 bitcoin-days). 100BTC that were last moved 1 day ago would be the same.Thanks.
Thus, "Bitcoin-Days destroyed" is a metric of how much BTC is moving in the economy - especially BTC that is once again moving after having remained in storage for a long time.
So it's a measure of velocity of BTC.
Thanks.
February 22, 2013, 07:55:31 PM
Do you know if the same or similar information is available for earlier time periods?
I don't think so. However if the data is available from gox then it is obviously within reach.
February 22, 2013, 07:52:38 PM
Do you know if the same or similar information is available for earlier time periods?
February 22, 2013, 07:36:48 PM
What is the meaning and significance "days destroyed".
Thanks.
It's not bitcoin days-destroyed, it's bitcoin-days destroyed. Bitcoin-days is like a man-hour or a kilowatt-hour - it's a unit that measures the extent to which bitcoins are sitting in wallets without circulating. For instance, if 1BTC has remained in the same wallet for 100 days, that's 100 bitcoin-days, and sending that 1BTC to a new address after such a long time would "destroy" 100 bitcoin-days (because they transform into 1BTC that has stood still for 0 days = 0 bitcoin-days). 100BTC that were last moved 1 day ago would be the same.Thanks.
Thus, "Bitcoin-Days destroyed" is a metric of how much BTC is moving in the economy - especially BTC that is once again moving after having remained in storage for a long time.
February 22, 2013, 07:32:14 PM
February 22, 2013, 07:26:19 PM
So about $77 to every 1 btc on the order books....
February 22, 2013, 05:08:39 PM
What is the meaning and significance "days destroyed".
Thanks.
Thanks.
February 22, 2013, 03:01:53 PM
try bitcoin-analytics.com top chart exactly for orderbook volume
February 22, 2013, 01:01:54 PM
This is only the visible supply. It can change in an instant (or 6 confirmations?), so I wouldn't let it influence you that much.
+1. Also: A sane person wouldn't buy 100k BTC at once...
February 22, 2013, 12:58:59 PM
How low can we go in regards to supply? Can somebody pull up that ask/bid chart again? I don't know where to find it.
http://www.bitcoinx.com/charts1/depth_mtgox.png
This is only the visible supply. It can change in an instant (or 6 confirmations?), so I wouldn't let it influence you that much.
However, there is a price correlation with the USD supply.
February 22, 2013, 12:48:07 PM
How low can we go in regards to supply? Can somebody pull up that ask/bid chart again? I don't know where to find it.
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