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Title: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: The Fool on February 22, 2013, 05:48:07 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.
Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: The Fool on February 22, 2013, 05:58:59 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. Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: chmod755 on February 22, 2013, 06:01:54 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... Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: genuise on February 22, 2013, 08:01:53 PM try bitcoin-analytics.com (http://bitcoin-analytics.com) top chart exactly for orderbook volume
Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: xcsler on February 22, 2013, 10:08:39 PM What is the meaning and significance "days destroyed".
Thanks. Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: byronbb on February 23, 2013, 12:26:19 AM So about $77 to every 1 btc on the order books....
Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: Spekulatius on February 23, 2013, 12:32:14 AM Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: Qoheleth on February 23, 2013, 12:36:48 AM What is the meaning and significance "days destroyed". 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. Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: Spaceman_Spiff on February 23, 2013, 12:52:38 AM Do you know if the same or similar information is available for earlier time periods? Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: byronbb on February 23, 2013, 12:55:31 AM 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. Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: xcsler on February 23, 2013, 02:08:09 PM What is the meaning and significance "days destroyed". 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. Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: kokojie on February 23, 2013, 03:39:33 PM What is the meaning and significance "days destroyed". 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. Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: twolifeinexile on February 23, 2013, 10:54:32 PM What is the meaning and significance "days destroyed". 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. Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: The-Real-Link on February 24, 2013, 12:08:55 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?
Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: Gatekeeper on February 24, 2013, 01:10:16 AM the 3rd graph certainly looks powerful to me, thanks for sharing
Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: Spaceman_Spiff on February 24, 2013, 04:08:26 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. Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: The-Real-Link on February 24, 2013, 09:29:09 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. Title: Re: We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market. Post by: n8rwJeTt8TrrLKPa55eU on February 24, 2013, 06:13:47 PM Very nice big-picture resources. Thank you. Clearly a bullish trend unless those charts start going sideways or reversing. |
