When will this bubble pop? - page 3.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: SkRRJyTC on August 15, 2012, 04:53:42 PM

No bubble here so no popping either... but I am selling some at these levels as we are in dire need of a pullback. The technical are maxed out on every time scale from what I can see and its going to be more profitable to be a bear for the next couple days/weeks I think.

I would not be suprised to see a pullback to 10-ish or so.....but not much more than that.

SkRRJyTC

legendary

Activity: 1008

Merit: 1000

No bubble here so no popping either... but I am selling some at these levels as we are in dire need of a pullback. The technical are maxed out on every time scale from what I can see and its going to be more profitable to be a bear for the next couple days/weeks I think.

bitcon

legendary

Activity: 2212

Merit: 1008

last time the bubble popped because many ppl lost faith due to the "goxing" that occurred. If none of the major exchanges get hacked again we could see it reach $20 - $30 again very soon and even achieve stability at those prices..

Kupsi

legendary

Activity: 1193

Merit: 1003

9.9.2012: I predict that single digits... <- FAIL

Quote from: kentrolla on August 15, 2012, 03:46:38 PM

Quote from: Kupsi on August 15, 2012, 03:43:47 PM

Quote from: kentrolla on August 15, 2012, 03:39:09 PM

yea, if you sold 300k btc's all on the mtgox/USD market then it would go to 1.15. why would someone do that when they could sell in a lot of different currencies and get a lot more money out of them?

i think you guys are assuming that the mtgox/USD depth is all that's there.

It's the same bid orders converted to different currencies.

this is news to me.

The good news is that there's also less coins for sale than it appears Cheesy

Technomage

legendary

Activity: 2184

Merit: 1056

Affordable Physical Bitcoins - Denarium.com

Quote from: yochdog on August 15, 2012, 03:46:34 PM

2 GB now.....the growth rate is accelerating and will be much, much larger in a year.

This prediction assumes that nothing is done to fix the scaling issues. As far as I know this is one of the priorities for the development team.

kentrolla

hero member

Activity: 1652

Merit: 569

Catalog Websites

Quote from: Kupsi on August 15, 2012, 03:43:47 PM

Quote from: kentrolla on August 15, 2012, 03:39:09 PM

yea, if you sold 300k btc's all on the mtgox/USD market then it would go to 1.15. why would someone do that when they could sell in a lot of different currencies and get a lot more money out of them?

i think you guys are assuming that the mtgox/USD depth is all that's there.

It's the same bid orders converted to different currencies.

this is news to me.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: Piper67 on August 15, 2012, 03:44:44 PM

Quote from: ?? on ??

Quote from: yochdog on August 15, 2012, 03:16:41 PM

The entire blockchain is approaching 2 GB rapidly and accelerating. This will pose a problem down the road as just downloading the blockchain will take days.

This is not really an issue.

https://bitcointalksearch.org/topic/m.1093235

Besides, there are many fantastic alternative clients that don't require a full node. I assume only miners and Bitcoin enthusiasts will run a full node in the future anyway.

Yup, nothing stopping you from just running a client in the background. 2 gig? No big whoop, really.

2 GB now.....the growth rate is accelerating and will be much, much larger in a year.

Piper67

legendary

Activity: 1106

Merit: 1001

Quote from: ?? on ??

Quote from: yochdog on August 15, 2012, 03:16:41 PM

The entire blockchain is approaching 2 GB rapidly and accelerating. This will pose a problem down the road as just downloading the blockchain will take days.

This is not really an issue.

https://bitcointalksearch.org/topic/m.1093235

Besides, there are many fantastic alternative clients that don't require a full node. I assume only miners and Bitcoin enthusiasts will run a full node in the future anyway.

Yup, nothing stopping you from just running a client in the background. 2 gig? No big whoop, really.

Kupsi

legendary

Activity: 1193

Merit: 1003

9.9.2012: I predict that single digits... <- FAIL

Quote from: kentrolla on August 15, 2012, 03:39:09 PM

yea, if you sold 300k btc's all on the mtgox/USD market then it would go to 1.15. why would someone do that when they could sell in a lot of different currencies and get a lot more money out of them?

i think you guys are assuming that the mtgox/USD depth is all that's there.

It's the same bid orders converted to different currencies.

kentrolla

hero member

Activity: 1652

Merit: 569

Catalog Websites

Quote from: yochdog on August 15, 2012, 03:33:11 PM

Quote from: proudhon on August 15, 2012, 03:24:06 PM

Quote from: ?? on ??

I'm a fair bit out but it would take just under 300k BTC to drop gox to $8 on the USD, Euro and GBP exchanges, about 3% of total coins.

Where are you getting your data? This shows that it would take ~97,000 BTC to drop the price $8. 300k BTCs would push the price all the way down to $1.15.

People want to pretend there is more demand than there really is.

I think hes adding up all the different markets to get his 300k figure.

yea, if you sold 300k btc's all on the mtgox/USD market then it would go to 1.15. why would someone do that when they could sell in a lot of different currencies and get a lot more money out of them?

i think you guys are assuming that the mtgox/USD depth is all that's there.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: proudhon on August 15, 2012, 03:24:06 PM

Quote from: ?? on ??

I'm a fair bit out but it would take just under 300k BTC to drop gox to $8 on the USD, Euro and GBP exchanges, about 3% of total coins.

Where are you getting your data? This shows that it would take ~97,000 BTC to drop the price $8. 300k BTCs would push the price all the way down to $1.15.

People want to pretend there is more demand than there really is.

proudhon

legendary

Activity: 2198

Merit: 1311

Quote from: ?? on ??

I'm a fair bit out but it would take just under 300k BTC to drop gox to $8 on the USD, Euro and GBP exchanges, about 3% of total coins.

Where are you getting your data? This shows that it would take ~97,000 BTC to drop the price $8. 300k BTCs would push the price all the way down to $1.15.

kentrolla

hero member

Activity: 1652

Merit: 569

Catalog Websites

Quote from: yochdog on August 15, 2012, 03:16:41 PM

Quote from: kentrolla on August 15, 2012, 03:06:34 PM

Quote from: adamstgBit on August 15, 2012, 02:28:09 PM

Quote from: conspirosphere.tk on August 15, 2012, 02:24:54 PM

Quote from: misterbigg on August 15, 2012, 12:48:52 PM

When are we going to see the price settle back down for a brief interval before resuming its inexorable upward plod?

When s/t bad happens (like Gox). e.g. Pirate vanish.
Then BTC would be famous as the only money backed by drugs and ponzis. (Not that I would not invest any more in it)

Or when ppl figures out that the blockchain growth is not practical and/or cannot sustain a serious traffic of Tx.

yes this is one issue that, if not solved. could kill bitcoin...

the buying of drugs online using bitcoin will continue. but people will stop believing it will ever be anything more

plz elaborate on this issue. Are you saying that if bitcoin got too big it wouldn't work?

The entire blockchain is approaching 2 GB rapidly and accelerating. This will pose a problem down the road as just downloading the blockchain will take days.

isn't the solution to this just having online wallets? it's my understanding that blockchain.info doesn't have access to your wallet and even if the website went offline you would still have access to your coins. Whats the downside to online wallets if this is true? Do you have to download the blockchain to get your coins if they go offline?

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: kentrolla on August 15, 2012, 03:06:34 PM

Quote from: adamstgBit on August 15, 2012, 02:28:09 PM

Quote from: conspirosphere.tk on August 15, 2012, 02:24:54 PM

Quote from: misterbigg on August 15, 2012, 12:48:52 PM

When are we going to see the price settle back down for a brief interval before resuming its inexorable upward plod?

When s/t bad happens (like Gox). e.g. Pirate vanish.
Then BTC would be famous as the only money backed by drugs and ponzis. (Not that I would not invest any more in it)

Or when ppl figures out that the blockchain growth is not practical and/or cannot sustain a serious traffic of Tx.

yes this is one issue that, if not solved. could kill bitcoin...

the buying of drugs online using bitcoin will continue. but people will stop believing it will ever be anything more

plz elaborate on this issue. Are you saying that if bitcoin got too big it wouldn't work?

The entire blockchain is approaching 2 GB rapidly and accelerating. This will pose a problem down the road as just downloading the blockchain will take days.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: anu on August 15, 2012, 03:10:28 PM

Quote from: ?? on ??

I'm a fair bit out but it would take just under 300k BTC to drop gox to $8 on the USD, Euro and GBP exchanges, about 3% of total coins.

It would take a bit more that that to hold it there. It'll just bounce back.

LOL. sure it would.

Instantly I'm sure.

anu

legendary

Activity: 1218

Merit: 1001

RepuX - Enterprise Blockchain Protocol

Quote from: ?? on ??

I'm a fair bit out but it would take just under 300k BTC to drop gox to $8 on the USD, Euro and GBP exchanges, about 3% of total coins.

It would take a bit more that that to hold it there. It'll just bounce back.

kentrolla

hero member

Activity: 1652

Merit: 569

Catalog Websites

Quote from: adamstgBit on August 15, 2012, 02:28:09 PM

Quote from: conspirosphere.tk on August 15, 2012, 02:24:54 PM

Quote from: misterbigg on August 15, 2012, 12:48:52 PM

When are we going to see the price settle back down for a brief interval before resuming its inexorable upward plod?

When s/t bad happens (like Gox). e.g. Pirate vanish.
Then BTC would be famous as the only money backed by drugs and ponzis. (Not that I would not invest any more in it)

Or when ppl figures out that the blockchain growth is not practical and/or cannot sustain a serious traffic of Tx.

yes this is one issue that, if not solved. could kill bitcoin...

the buying of drugs online using bitcoin will continue. but people will stop believing it will ever be anything more

plz elaborate on this issue. Are you saying that if bitcoin got too big it wouldn't work?

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: ?? on ??

There is a huge amount of buy orders stacked up, if someone want to dump the price bellow 9 dollars they will probably need more than 15% of the generated coins. If this is a bubble then it's hard to see how it can do any major damage at this stage unless it keeps building to over $20 and causes a panic.

To dump it below $9 would take less than 75,000 BTC on MTgox.

Look closer next time.

cheat_2_win

full member

Activity: 215

Merit: 100

Quote from: ?? on ??

There is a huge amount of buy orders stacked up, if someone want to dump the price bellow 9 dollars they will probably need more than 15% of the generated coins. If this is a bubble then it's hard to see how it can do any major damage at this stage unless it keeps building to over $20 and causes a panic.

Are you sure? 15% of the generated coins is more than 1 million.

Serge

legendary

Activity: 1050

Merit: 1000

Quote from: pyromaniac on August 15, 2012, 02:36:14 PM

The problem is nobody knows and haven't any signs. Dump will be sudden and dramatic.

At this point it depends whether demand winds down or not

Topic: When will this bubble pop? - page 3. (Read 6834 times)