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Title: Why is bitcoin so motile? Post by: bcpokey on July 10, 2011, 03:43:10 PM From bitcoinwatch -- Bitcoins sent last 24h 3,368,696.34 BTC
Roughly half of all bitcoins in existence were transferred from here to there in the last day? Seems a little strange. I remember seeing a large uptick of transfers I noted right before the mtgox hack so I don't think it's totally un-noteworthy to pay attention to these things. If it's normal above board transferrs, what prompts such massive shifts? Title: Re: Why is bitcoin so motile? Post by: YoYa on July 10, 2011, 04:16:14 PM Due to bitcoins being quantum binomial hashes attained from extreme lagrange points derived from a polynomial Heisenberg function, the bitcoins tend towards x probability that quantum flux will occur and transference will be established.
Thus this ensures that the bitcoin economy will perpetually maintain it's trade economy by random yet economically sound transference of wealth within the system. Title: Re: Why is bitcoin so motile? Post by: realnowhereman on July 10, 2011, 04:21:36 PM From bitcoinwatch -- Bitcoins sent last 24h 3,368,696.34 BTC Roughly half of all bitcoins in existence were transferred from here to there in the last day? Or the same coin transferred three million times? Volumes like this are a good thing. Bitcoin movement means trade. Even if we assume a very pessimistic 50% of transfers are from self-to-self; that would still be signs that the bitcoin economy is active. Title: Re: Why is bitcoin so motile? Post by: Sannyasi on July 10, 2011, 04:25:24 PM [/quote] Or the same coins* transferred three million times? [/quote] This Title: Re: Why is bitcoin so motile? Post by: imperi on July 10, 2011, 10:39:52 PM What is 'motile'. English please.
Title: Re: Why is bitcoin so motile? Post by: patvarilly on July 10, 2011, 10:44:47 PM I explained this in detail here:
http://forum.bitcoin.org/index.php?topic=27472.msg346658#msg346658 Basically, the OVERWHELMING majority of volume you see is people sending change to themselves (not 50%, more like 98%+). My own guess of actual volume is about 20,000-50,000 BTC, and if you're sufficiently motivated, I've outlined in the post a way in which you can estimate this actual volume more precisely. Essentially, it's comparable to the volume you see traded at Mt. Gox [hint: this tells you something]. Title: Re: Why is bitcoin so motile? Post by: david4dev on July 10, 2011, 10:46:56 PM What is 'motile'. English please. Motile is an English word (http://lmddgtfy.com?q=motile). |