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Title: Bitnodes and bitcoin price Post by: 8xbt.com on May 21, 2017, 09:57:27 PM When you look at the data at 'bitnodes dot 21 dot co', the full nodes that is connected from all countries is even less than a few months ago, for example China, with only about 200 nodes in the early morning. Does it support the case that the recent increase in price of bitcoin, all altcoins and the over 40 billions market cap, is just a few people manipulating the market? If the price rise is due to popularity, then logically those nodes numbers should have massively increased.
Title: Re: Bitnodes and bitcoin price Post by: franky1 on May 21, 2017, 10:23:18 PM 1. nodes vs price has no correlation.
2. check the markets and you will see some prices move the price up or down quite easily using small amouns such as <0.05btc https://i.imgur.com/gijUzhs.png note btc is measured in millibits on some markets (44=0.044btc) yep for under $90 you can sometimes move prices from $2015 down to $2009 this is more due to: the hassle of AML/KYC registration making people uncomfortable using exchanges the risk of exchange bankruptcy with the "we been hacked" excuse to run off, so people dont trust using exchanges the bitcoin tx fee making it annoying and more costly to move funds in and out of exchanges. all causing the markets to not really have much resistance to fluctuations Title: Re: Bitnodes and bitcoin price Post by: 8xbt.com on May 21, 2017, 10:37:29 PM 1. nodes vs price has no correlation. 2. check the markets and you will see some prices move the price up or down quite easily using small amouns such as <0.05btc https://i.imgur.com/gijUzhs.png note btc is measured in millibits on some markets (44=0.044btc) yep for under $90 you can sometimes move prices from $2015 down to $2009 this is more due to: the hassle of AML/KYC registration making people uncomfortable using exchanges the risk of exchange bankruptcy with the "we been hacked" excuse to run off, so people dont trust using exchanges the bitcoin tx fee making it annoying and more costly to move funds in and out of exchanges. all causing the markets to not really have much resistance to fluctuations I think what you say are totally irrelevant. Some sentences I do not even understand. |
