wtf is going on?! | Bitcointalksearch.org

Gasotard

full member

Activity: 156

Merit: 100

Quote from: richardsNY on May 09, 2016, 11:51:22 AM

Quote from: talks_cheep on May 08, 2016, 09:29:54 PM

Quote from: richardsNY on May 08, 2016, 04:28:18 PM

Quote from: Wevariant on May 08, 2016, 04:05:49 PM

Quote from: Amph on April 30, 2016, 07:49:07 AM

Quote from: Gasotard on April 30, 2016, 07:00:59 AM

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

There is no way to find out how many users Bitcoin really has. 500K is a bit on the lower side. My guess is somewhere around 1000K.

"Active" users number around 250K.

As I said before, there is really no way to find out how many users there are. That's why I'm interested in finding out how you came to that what I consider to be a low number.

So we have the use the number of transactions. We need to exclude the low value transactions.

richardsNY

legendary

Activity: 1232

Merit: 1091

Quote from: talks_cheep on May 08, 2016, 09:29:54 PM

Quote from: richardsNY on May 08, 2016, 04:28:18 PM

Quote from: Wevariant on May 08, 2016, 04:05:49 PM

Quote from: Amph on April 30, 2016, 07:49:07 AM

Quote from: Gasotard on April 30, 2016, 07:00:59 AM

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

There is no way to find out how many users Bitcoin really has. 500K is a bit on the lower side. My guess is somewhere around 1000K.

"Active" users number around 250K.

As I said before, there is really no way to find out how many users there are. That's why I'm interested in finding out how you came to that what I consider to be a low number.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: Wevariant on May 08, 2016, 04:05:49 PM

Quote from: Amph on April 30, 2016, 07:49:07 AM

Quote from: Gasotard on April 30, 2016, 07:00:59 AM

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

it was estimated long time ago based on the number transaction, it's still an estimate, but it appear to be near 3M, 0.5 is very low it can be that low with 200k transaction going on each day

randy8777

legendary

Activity: 896

Merit: 1000

Quote from: talks_cheep on May 08, 2016, 09:29:54 PM

Quote from: richardsNY on May 08, 2016, 04:28:18 PM

Quote from: Wevariant on May 08, 2016, 04:05:49 PM

Quote from: Amph on April 30, 2016, 07:49:07 AM

Quote from: Gasotard on April 30, 2016, 07:00:59 AM

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

There is no way to find out how many users Bitcoin really has. 500K is a bit on the lower side. My guess is somewhere around 1000K.

"Active" users number around 250K.

i know there is a significant difference between users in total and active users as you also mentioned. what number of users do you consider the "non active" users to be?

Sandroxa

sr. member

Activity: 350

Merit: 250

Quote from: Wevariant on May 08, 2016, 04:05:49 PM

Quote from: Amph on April 30, 2016, 07:49:07 AM

Quote from: Gasotard on April 30, 2016, 07:00:59 AM

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

Bitcoin is getting more worth and that is perfect for the people that is already using Bitcoin because than they can make maybe more profit in the future.
And that would be perfect for them if that is possible for them.

cluit

legendary

Activity: 1176

Merit: 1016

Quote from: talks_cheep on May 08, 2016, 09:29:54 PM

Quote from: richardsNY on May 08, 2016, 04:28:18 PM

Quote from: Wevariant on May 08, 2016, 04:05:49 PM

Quote from: Amph on April 30, 2016, 07:49:07 AM

Quote from: Gasotard on April 30, 2016, 07:00:59 AM

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

There is no way to find out how many users Bitcoin really has. 500K is a bit on the lower side. My guess is somewhere around 1000K.

"Active" users number around 250K.

Do you have any proof for that? Maybe an article or statistics. It's easy to say "there are 1mil active users" "no there are 500k" "active users are around 250k" with scant information.

talks_cheep

legendary

Activity: 1036

Merit: 1000

Quote from: richardsNY on May 08, 2016, 04:28:18 PM

Quote from: Wevariant on May 08, 2016, 04:05:49 PM

Quote from: Amph on April 30, 2016, 07:49:07 AM

Quote from: Gasotard on April 30, 2016, 07:00:59 AM

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

There is no way to find out how many users Bitcoin really has. 500K is a bit on the lower side. My guess is somewhere around 1000K.

"Active" users number around 250K.

richardsNY

legendary

Activity: 1232

Merit: 1091

Quote from: Wevariant on May 08, 2016, 04:05:49 PM

Quote from: Amph on April 30, 2016, 07:49:07 AM

Quote from: Gasotard on April 30, 2016, 07:00:59 AM

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

There is no way to find out how many users Bitcoin really has. 500K is a bit on the lower side. My guess is somewhere around 1000K.

Wevariant

newbie

Activity: 25

Merit: 0

Quote from: Amph on April 30, 2016, 07:49:07 AM

Quote from: Gasotard on April 30, 2016, 07:00:59 AM

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: Gasotard on April 30, 2016, 07:00:59 AM

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

Gasotard

full member

Activity: 156

Merit: 100

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

Yanisumin

hero member

Activity: 648

Merit: 502

Quote from: lissandra on April 07, 2016, 11:14:00 AM

Quote from: Wevariant on April 05, 2016, 03:35:48 AM

Quote from: electronicash on March 01, 2016, 08:55:14 AM

Quote from: tommorisonwebdesign on February 25, 2016, 12:18:53 PM

Quote from: Yanisumin on February 25, 2016, 12:11:29 PM

Quote from: MatTheCat on February 20, 2016, 04:59:36 AM

Quote from: Watercooler on February 20, 2016, 04:56:20 AM

People are probably reinvesting the profits they made with going short on the ETH value. So they gain even
more Bitcoins. They sold at a high price, bought cheap ETH, sold them when they saw a collaps coming and
now the re-buy Bitcoins at a lower price Grin

Problem with that non-theory is that people invest into ETH via BTC. People then cash out of ETH, via BTC. If anything, people gonna want to take cash profits from ETH, which means that they cash out through BTC.

But the Ethereum/BTC volume is too small to affect the bitcoin price. The recent bitcoin price is affected by the block size issue.

I don't even think that's the best way to make any money. It's like gambling. What if you bought BTC thinking it's going to go up then it goes down?

it does mean that ETH's value still depend on BTC just like the rest of the alt coins.

if btc goes down then theres nothing left to do but wonder and wait till it goes up again Grin

I do not think the Ethereum price is dependent on the bitcoin price. The Ethereum price has risen 10 times against bitcoin recently.

Okay, then what does it rely on then?

Does ETH have some demand because some major site uses it and thats what it requires? please educate me what a alt coin relies on if its not bitcoins price.

if theres no pillars to support a price, its most likely a bubble.

There are some shops accepting the bitcoin. I have used the bitcoin to buy computers and pay phone bills.

lissandra

sr. member

Activity: 434

Merit: 250

Quote from: Wevariant on April 05, 2016, 03:35:48 AM

Quote from: electronicash on March 01, 2016, 08:55:14 AM

Quote from: tommorisonwebdesign on February 25, 2016, 12:18:53 PM

Quote from: Yanisumin on February 25, 2016, 12:11:29 PM

Quote from: MatTheCat on February 20, 2016, 04:59:36 AM

Quote from: Watercooler on February 20, 2016, 04:56:20 AM

People are probably reinvesting the profits they made with going short on the ETH value. So they gain even
more Bitcoins. They sold at a high price, bought cheap ETH, sold them when they saw a collaps coming and
now the re-buy Bitcoins at a lower price Grin

Problem with that non-theory is that people invest into ETH via BTC. People then cash out of ETH, via BTC. If anything, people gonna want to take cash profits from ETH, which means that they cash out through BTC.

But the Ethereum/BTC volume is too small to affect the bitcoin price. The recent bitcoin price is affected by the block size issue.

I don't even think that's the best way to make any money. It's like gambling. What if you bought BTC thinking it's going to go up then it goes down?

it does mean that ETH's value still depend on BTC just like the rest of the alt coins.

if btc goes down then theres nothing left to do but wonder and wait till it goes up again Grin

I do not think the Ethereum price is dependent on the bitcoin price. The Ethereum price has risen 10 times against bitcoin recently.

Okay, then what does it rely on then?

Does ETH have some demand because some major site uses it and thats what it requires? please educate me what a alt coin relies on if its not bitcoins price.

if theres no pillars to support a price, its most likely a bubble.

Gasotard

full member

Activity: 156

Merit: 100

Quote from: Wevariant on April 05, 2016, 03:35:48 AM

Quote from: electronicash on March 01, 2016, 08:55:14 AM

Quote from: tommorisonwebdesign on February 25, 2016, 12:18:53 PM

Quote from: Yanisumin on February 25, 2016, 12:11:29 PM

Quote from: MatTheCat on February 20, 2016, 04:59:36 AM

Quote from: Watercooler on February 20, 2016, 04:56:20 AM

People are probably reinvesting the profits they made with going short on the ETH value. So they gain even
more Bitcoins. They sold at a high price, bought cheap ETH, sold them when they saw a collaps coming and
now the re-buy Bitcoins at a lower price Grin

Problem with that non-theory is that people invest into ETH via BTC. People then cash out of ETH, via BTC. If anything, people gonna want to take cash profits from ETH, which means that they cash out through BTC.

But the Ethereum/BTC volume is too small to affect the bitcoin price. The recent bitcoin price is affected by the block size issue.

I don't even think that's the best way to make any money. It's like gambling. What if you bought BTC thinking it's going to go up then it goes down?

it does mean that ETH's value still depend on BTC just like the rest of the alt coins.

if btc goes down then theres nothing left to do but wonder and wait till it goes up again Grin

I do not think the Ethereum price is dependent on the bitcoin price. The Ethereum price has risen 10 times against bitcoin recently.

But the Ethereum price is going down now. Maybe the pump has just finished and it is being dumped.

Wevariant

newbie

Activity: 25

Merit: 0

Quote from: electronicash on March 01, 2016, 08:55:14 AM

Quote from: tommorisonwebdesign on February 25, 2016, 12:18:53 PM

Quote from: Yanisumin on February 25, 2016, 12:11:29 PM

Quote from: MatTheCat on February 20, 2016, 04:59:36 AM

Quote from: Watercooler on February 20, 2016, 04:56:20 AM

People are probably reinvesting the profits they made with going short on the ETH value. So they gain even
more Bitcoins. They sold at a high price, bought cheap ETH, sold them when they saw a collaps coming and
now the re-buy Bitcoins at a lower price Grin

Problem with that non-theory is that people invest into ETH via BTC. People then cash out of ETH, via BTC. If anything, people gonna want to take cash profits from ETH, which means that they cash out through BTC.

But the Ethereum/BTC volume is too small to affect the bitcoin price. The recent bitcoin price is affected by the block size issue.

I don't even think that's the best way to make any money. It's like gambling. What if you bought BTC thinking it's going to go up then it goes down?

it does mean that ETH's value still depend on BTC just like the rest of the alt coins.

if btc goes down then theres nothing left to do but wonder and wait till it goes up again Grin

I do not think the Ethereum price is dependent on the bitcoin price. The Ethereum price has risen 10 times against bitcoin recently.

electronicash

legendary

Activity: 3178

Merit: 1054

Quote from: tommorisonwebdesign on February 25, 2016, 12:18:53 PM

Quote from: Yanisumin on February 25, 2016, 12:11:29 PM

Quote from: MatTheCat on February 20, 2016, 04:59:36 AM

Quote from: Watercooler on February 20, 2016, 04:56:20 AM

People are probably reinvesting the profits they made with going short on the ETH value. So they gain even
more Bitcoins. They sold at a high price, bought cheap ETH, sold them when they saw a collaps coming and
now the re-buy Bitcoins at a lower price Grin

Problem with that non-theory is that people invest into ETH via BTC. People then cash out of ETH, via BTC. If anything, people gonna want to take cash profits from ETH, which means that they cash out through BTC.

But the Ethereum/BTC volume is too small to affect the bitcoin price. The recent bitcoin price is affected by the block size issue.

I don't even think that's the best way to make any money. It's like gambling. What if you bought BTC thinking it's going to go up then it goes down?

it does mean that ETH's value still depend on BTC just like the rest of the alt coins.

if btc goes down then theres nothing left to do but wonder and wait till it goes up again Grin

Gasotard

full member

Activity: 156

Merit: 100

Quote from: jod_doj on February 19, 2016, 02:22:50 PM

bitcoin price is kinda fluctuating right now, but i can see a lot of positive tendencies as the price is going up

I see more media reports about the bitcoin and other digital currencies. It will take some time for bitcoin to be used widely.

tommorisonwebdesign

sr. member

Activity: 448

Merit: 251

Quote from: Yanisumin on February 25, 2016, 12:11:29 PM

Quote from: MatTheCat on February 20, 2016, 04:59:36 AM

Quote from: Watercooler on February 20, 2016, 04:56:20 AM

People are probably reinvesting the profits they made with going short on the ETH value. So they gain even
more Bitcoins. They sold at a high price, bought cheap ETH, sold them when they saw a collaps coming and
now the re-buy Bitcoins at a lower price Grin

Problem with that non-theory is that people invest into ETH via BTC. People then cash out of ETH, via BTC. If anything, people gonna want to take cash profits from ETH, which means that they cash out through BTC.

But the Ethereum/BTC volume is too small to affect the bitcoin price. The recent bitcoin price is affected by the block size issue.

I don't even think that's the best way to make any money. It's like gambling. What if you bought BTC thinking it's going to go up then it goes down?

Yanisumin

hero member

Activity: 648

Merit: 502

Quote from: MatTheCat on February 20, 2016, 04:59:36 AM

Quote from: Watercooler on February 20, 2016, 04:56:20 AM

People are probably reinvesting the profits they made with going short on the ETH value. So they gain even
more Bitcoins. They sold at a high price, bought cheap ETH, sold them when they saw a collaps coming and
now the re-buy Bitcoins at a lower price Grin

Problem with that non-theory is that people invest into ETH via BTC. People then cash out of ETH, via BTC. If anything, people gonna want to take cash profits from ETH, which means that they cash out through BTC.

But the Ethereum/BTC volume is too small to affect the bitcoin price. The recent bitcoin price is affected by the block size issue.

--Encrypted--

copper member

Activity: 924

Merit: 1007

hee-ho.

Quote from: MatTheCat on February 20, 2016, 05:16:12 AM

Quote from: --Encrypted-- on February 20, 2016, 05:06:01 AM

Quote from: MatTheCat on February 20, 2016, 04:59:36 AM

Quote from: Watercooler on February 20, 2016, 04:56:20 AM

People are probably reinvesting the profits they made with going short on the ETH value. So they gain even
more Bitcoins. They sold at a high price, bought cheap ETH, sold them when they saw a collaps coming and
now the re-buy Bitcoins at a lower price Grin

Problem with that non-theory is that people invest into ETH via BTC. People then cash out of ETH, via BTC. If anything, people gonna want to take cash profits from ETH, which means that they cash out through BTC.

or, they can choose to hold btc because it is rising. people don't always dump to fiat.

Yes.....but you miss the point. People coming out of ETH and into BTC, aint gonna make BTC rise against the USD. Folks putting BTC into ETH, already exchanged thier USD for BTC.

ahhh. damn how did I overlook that simple fact? Undecided

it does make sense that btc/eth trades will only affect btc/eth price and not btc/usd. it was so basic, I'm feeling a bit stupid now.

Topic: wtf is going on?! (Read 3299 times)