Bitcoin Forum

All the talk about why the rally is happening. In my opinion, it is simple. Because this is happening on websites...

https://i.imgur.com/7y6WKaS.png

The fact that you don't know which site I pulled this from proves my point ;)

Which website was this from Erik?

http://www.gogreensolar.com/

Price is irrelevant, bitcoin's mainstream adoption is priceless. Utility FTW!

Damn that didn't take long lol

Because I already Posted it 3 hours ago.

https://bitcointalk.org/index.php?topic=138230.0

Goggle Alert is faster than you.

Yupp  ;D

The $17 mark is because one guy suddenly spent hundreds of thousands on coins in the last few days.

Indeed a wise investor has found bitcoin

Source?

And if true, then why did he do it? Like anyone who is actually paying attention to this thing, perhaps he realized that Bitcoin has proven itself and is now starting to make inroads outside the Bitcoin community.

Maybe this: https://bitcointalk.org/index.php?topic=137203.0

(Forex Magnates coverage of Bitcoin)

If I were the CEO of a medium to large company planning to accept Bitcoin I would (as the company) start by buying a lot of them cheaply in the months before I would announce it.

Good point. Hope the whole world follows suit  ::)

From gogreensolar.com:

We are working with our shopping cart provider to integrate Bitcoin for a seamless checkout process.  We appreciate your patience and understanding in the mean time. (You can also give Shopify a prod if you'd like to see this supported in their software!)

This is a great opportunity for someone with some technical skills. Create a Shopify app that integrates Bitcoin payment.

http://apps.shopify.com/

Charge a modest monthly fee for Shopify customers to use it. Programmer creates an income stream, and lots of Shopify-powered stores suddenly have an easy bitcoin option.

Repeat the formula for Magento, BigCommerce, etc.

Right, it's not necessarily a bad thing to have one entity purchase a large amount of coins. The following "source" is not really credible proof I suppose, but just by looking at the charts for the last few days, you can see that the price increases were driven by a select few gigantic purchases.

I wouldn't be surprised if the non-negative commentary on bitcoin in zerohedge a month or so ago attracted some bigger whales.

Zerohedge have good articles, but their prediction.....
You can not be worse.

Maybe someone knows that something is going to happen, and that there are not many places to hide:

More than $114 billion walked out of the biggest United States banks this month, and nobody’s quite sure why.
http://www.businessweek.com/articles/2013-01-23/missing-114-billion-from-u-dot-s-dot-banks (http://www.businessweek.com/articles/2013-01-23/missing-114-billion-from-u-dot-s-dot-banks)

Oh that is funny, I think I know how that company started getting into Bitcoins but I am not telling. 

Holy cow! Solar Panels for Bitcoin?! Finally! Now we just need someone to offer wind turbines for those of us who don't have the sunlight :D


LOL! VIVA LA REVOLUTION! VIVA!

Dollar is a closed system, it will circulate back, all dollars are either Federal Reserve Credit or Bank Credit, there is no way it gets out. (Unless, cash, but 114 bn cash?)

Since early January, about 10'000 BTC have been melting away every day from the walls on the selling side. Maybe someone wants to get 210'000 BTC, thus owning 1% of all Bitcoins that will ever be created. Would certainly be a nice number. If that's the case, the rally is over now (about 21 days have passed). However, if it continues, we will see 1 BTC = $20 by the end of the week.

Could it be that the reward dropped?

I think it has got fuk all to do with that unless you can show me how many websites have taken on bit coin payment in the last few months. I think it has more to do with the currency wars being waged a the moment and becoming now known in main stream media news. people looking for other safe havens "currencies" to invest in. Fiat currency values is gonna go to shit. . And people wanna get the fuck out. The insane amount of printing is gonna make fiat currencies reall fucken worhless reall soon or at least undergo a huge fucken devaluation.

Could it be bASIC buying up coins to issue "thousands of refunds?"

I think its because there has been a steady price rise, and hasn't been a major price crash in a while....people are trying to jump in before the bubble pops.

I'm betting we will continue to see the price soar, followed by a major crash sometime this year.  


 

what is the key word do you set in the Google Alert, just "bitcoin" or something more?

The more merchants accept bitcoin, the more "money" stays within the BTC system. So it seems that this rise may be sustainable. On the other hand a 50% price increase within a month cries out for a correction.

I doubt that the number of merchants accepting bitcoins increased proportionally with the price of bitcoin. I'd be interested in a #BTCmerchants/#BTCprice ratio graph over time. But that would require someone to measure #BTCmerchants accurately.

The Bitcoin revolution is coming! Halayluya! (however you spell it  :D)

Why would it cry for a correction.

Viva la revolution!

Sorry for my ignorant. How big is this company?

An upward move has to be sustained by a rise of perceived total value:
totalvalue = #people * averagevalue

Now this may be my opinion, but a 50% increase in perceived average value is significant. Unless there is a big investor sucking the coins from the market, and hence increasing the perceived average value, its rather the #people figure which makes the difference. And increases due to #people are subject to a correction due to inflation, because an increased amount of coins covers the same wealth, crippling the average value.

As long as we don't understand what causes these increases your guess is as good as mine. I wouldn't be surprised if it soars above $20 and then stays there for 4 months, before it makes another jump.

Actually this may have something to do with it :

http://polimedia.us/trilema/wp-content/uploads/2013/01/ponzi-24jan2013.png

Bitcoin is being driven by financials not by retail, I say.

It's listed as "1-10 employees" on LinkedIn. So yeah, Mom and Pop shop.

I think that the point was not that this particular company is especially significant but that we see this happening pretty much every day. Ever since WordPress hopped on board, the rate of new Bitcoin accepting merchants and organizations accepting Bitcoin donations has increased significantly.

The company i work for first want to see numbers before we can offer bitcoin as an payment method.
I want to know how many people use bitcoin and the number of shops that already accept it in the netherlands, germany and belgium and the rest of the EU.
If i can get concrete numbers for each country for the company, something big will happen, promise. :)

Belgium: I know of one B&M bitcoin merchant: the Luna Luna B&B in Mechelen. Of course, they invoice the clients officially in eubles but accept payment in BTC. They are fine, upstanding, honest citizens and wouldn't dream of ever doing business off the books, I'm sure. ;)

The best numbers indicators I know of are these:

http://www.openheatmap.com/view.html?map=BibbonsGomphotheriidaeJewely

Full nodes per 100.000 internet users.

Now Blockchain currently lists 6000 Nodes seen in the last 48 hours and has currently ~90.000 online Wallets.

So 15 Online Wallets per full node.

60 Mil People with internet access in Germany

~14400 Bicoiners in Germany.

These Numbers are of curse completely wrong. I made all Numbers except the 6000 Full nodes up. And didn't include any factors for all other clients, or dead Blockchain wallets.

Thanks. I already created a thread for this a while ago.
So if you would like to help us out.
There is a bounty waiting by the way.
https://bitcointalk.org/index.php?topic=127067

It is no more 18$  :D

What kind of chart is that?

Co-ask

This thread is "so 23rd January"  ;D

LOL, its all going into Bitcoin!

Some guy's Bitcoin assets/investments.

Exactly

THIS!!!

I'm not going to get rich from my bitcoins, but more importantly, as Erik has said in his essays, society is made richer as a whole via adoption. Someday I, and many others, will be paid in bitcoin. Which is far more exciting to me than any return on a speculative investment.

this there publicly available information on this?
i like to spread the work but i also like to back up my statements  :)

That's the relative performance of my bitcoin portfolio.  Zero = unchanged, 1 = a doubling of portfolio value.

its pretty old though (from last night).

I'd post the latest but its formatted really big.

Ok ( i'm really green on the economic front) but how does that relate to the usd. I mean what is the usd showing.

Ok so is anybody keeping statistics of increases in companies accepting bitcointhat shouldn't be too hard to do yet you say the price increase is due to more companies accepting bitcoin yet you show no  evidence for that i thought most people would be interested how many more companies are accepting bitcoin i thought that would be quite a fundemental to gage how well bitcoin is doing and expanding,  you seem to pluck your statement out of thin air.  

Erik not trying to be an ass, but... Don't you have an obligation with your shareholders to put feedzebirds back online instead of advertising for gogreensolar and cam sites on the forum?
I mean, it's offline for weeks. And don't tell me the wallet is still syncing, because not even a donkey will believe it.

 ;D

A very fair point. If I was the developer I'd get it back online asap, but the developer has several obligations he's trying to juggle. FZB will be taken care of, improved, and expanded, but it won't be done as quickly as anyone wants and I apologize for this. Worst case scenario I will spend my own funds to reinvigorate it and get it into the proper hands.

^ I know that feeling, that's why I'm learning python...

Phewh. Going back to normal now

Yeah,

someone is dumping tons of BTC on every exchange...

spiccioli

Huge pump and dump day.

Still wondering? Price raising too high and too fast for no reason, combined with profit taking leading to a panic sell.

Who was doing the pumping. Had to be news on one front. . Who did it?

More importantly who stood most to gain from it.

It wasnt a single person, it was Greed.

Everyone saw the price skyrocketing and jumped on the bubble, which was followed by profit taking and panic selling.  Dont worry, it'll happen again (and again).

I don't think this is going to turn into a full blown crash, but it was probably a necessary correction that will help keep long term growth sustained.

if it's a pump and dumb a person or an organization stood to make a lot of money. Pump and dumps are frauds. Somebody fared by it. it doesn't "just happen" and it's not a scenario of  "no-one" is responsible that's how politicians and fraudsters talk. If its a pump and dump, someone is behind it. So it's a fair question; who stood most to gain.

Btw someone can set of a spark, or make a a value jump sharply and unexpectedly. Off course greed can then take over. Doesn't mean it wasn't planned that way.

Your pitchfork is rusty.

Sure. Anything else? Problem attacking the argument. 
?

Tons of people gained. Pretty much everyone who sold at the top today. No reason it had to be a pump and dump.

Yeah, I know what a pump and dump is. This was a greed induced bubble, not a single person or organization artificially increasing the price through good news and optimism. The way you people see conspiracy in everything is amazing.  You should really look at group psychology instead of looking for a scapegoat when the price swings up or down.

People saw the price increasing and jumped on board (panic buy), when the price dropped from profit taking, people abandonded ship (panic sell). Greed, pure and simple.  

Were none of you around the last time this happened ($30 bubble)? This is no different.

Why wasn't it a pump and dump?

Yeh but bubbles are frauds as well. They are created. It's really not that hard.

I don't think you know what you are talking about. A bubble isn't a "fraud", it is simply a result of group mentality.  Fraud is intentional deception by a person or group, a bubble like this is a result of ignorance (ie: the price will rise forever!!).

You already named it a bubble, it is pretty much the same as a pump and dump.
 I don't think you really understand who sets to gain by a bubble. .

No. no its not. You should stop using words you dont understand.

What? Market had swallowed >150k coins dump in a day and we are still at 17? How?

^ i do not think anyone had really profited from this. Let’s see how buying pressure stabilises after the weekend.

 They're both frauds and people behind them stand to draw the money.Those are two fundementals that i know. It's ok you go on believing no one is behind that.

People saw price increase and started buying because omg if price increase i become rich. Then ppl saw btc at 19 and went SELL SELL to make profit. No need to involve pump and dump and mysterious organizations

  Explain?

The bulls that have been buying just caught a lucky break that will allow them to keep accumulating.

Most Chinese solar companies are scammers using second  rate materials discarded from the Garden LED lighting business
bit-coin simply provides them a way to get money and not be tracked... or gain refunds.

Nice story, but this is not a Chinese solar company.  It is a California based retailer.  They don't manufacture, just resell and do system designs.

  So no body could set this off someone somehow.

Though it looks like a pump and dump.

Um, no.

You are severely overestimating your understanding of economics and markets.  
Basically this:  http://en.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect  (http://en.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect) 

Off course you don't provide any personal argument that they are not on the subject themselves. Ok i wont be replying.  Ok this is totally non relevant to the subject itself unsustained irrelevant and going of to ad homonym.  It's irrelevant both pump and dump and " bubbles" are "frauds" derive from frauds. . are run and instigated by fraudsters.  it's not that hard.

Pump and dump is fraud.  Bubbles just happen.

Bubbles don't just happen that's what fraudsters want you to believe to get away with the next" bubble" it's just a bubble i made 120 million but its' just a bubble. Please for gods sake look t the " bond" bubble at the moment.  Ok?  Somebody is pushing that.

For gods sake any of you clowns watch gerald celente or max keizer?


                                                                                                          Fuck.

Oh for fucks sake, man...I already explained it.

Here, educate yourself:

http://www.investopedia.com/terms/s/speculativebubble.asp#axzz2IwMRBjuS
http://en.wikipedia.org/wiki/Economic_bubble

Bubbles aren't necessarily caused by fraud...there are a number of reasons that vary with the market, but it generally boils down to group psychology in most cases. (in the BTC market, bubbles are generally driven by greed and the greater fool theory)

I sold at $19. Double the price before the halving, precisely what they should have sold for for the last month. So all that hoarding of coins before the halving has paid off.

Whatever the cause of the rise, i'm happy!

  Yeh great .

Yes, Rob E, facts ARE great.

  Fake.

Faux pas  number of pump and dumps and bubbles can and are brought back to fraud.  Fact . And goodnight.

evolve, let me introduce to you a little button called "ignore".  You should have no problem finding it under Robs name, as it is so nice and yellow.

Right. .   You're name is 'space man'  "spiff".  Right?

You know, I tried explaining it to him, I even provided him sources so that he could see where he was wrong in black and white.

At this point it is just willful ignorance. Oh well, I tried.

As Ron White says, "You can't fix stupid".

OK, what is your evidence that this was a fraudulent bubble or a pump-and-dump, and not just herd mentality driven by greed and panic?

Woah... uh... don't lump us all into one group please.

huh?

Gut feeling.  Sharp rise and drop someone someone saying it  is crying for a correction,  someone else saying it is due to bitcoin expansion .

manipulations of markets somehow. Pump and dumps always are frauds, is this a pump and dump, do the statistics show that. is  it a bubble, does it show that. C'mon  pump and dumps are frauds bubbbles are ultimately instigated by fraudsters, who made the most money. look at that. ( your question i'll have to refer back to with true data. but am i talking shit?)

So, nothing then.

BTW, your ignore button went from light tan to deep brown in a span of 30 minutes  :P

Normally when people say statistics show that "fill-in-the-blank" they often have statistics to support their claims unless they are just pulling facts out of a region that depending on how polite you like your English may be referred to as either the rectum or the fundament.

If you have some masterful statistical analysis showing this was a fraudulent pump and dump, or even a group think driven bubble then I'm sure the more mathematically inclined here would like to see it and read it. Break out your copy of SPSS, Stata, Sage, or whatever your statistical software of choice is and do your best Nate Silver impression.

I'll keep watching while you get worked up over a wee bit of market volatility.

Hopefully it drops down so we can buy some more !!

Fake??? I did the same thing, so am I fake too? The only difference is I bought in at $8, so I probably did a little better. ;)

If you're gonna talk shit, the least you could do is learn the English language, and punctuation!

No need for manipulation. Bubbles are an emergent phenomenon of group dynamics (http://en.wikipedia.org/wiki/Flocking_(behavior)). It's a result of various agents making distinct decisions at the same time.

Bubbles usually burst when a few bigger individuals decide to cash out and smaller investors mirror that behavior. Then the market crashes back to the equilibrium which is determined by the ratio between weak and strong hands. A good investor has some understanding on where that equilibrium lies and what price level can be expected to reflect the true strength/trust in the business.

However, manipulators CAN take advantage of group dynamics. And that may be considered cheating or fraud. But that is poor judgement on the side of the exploited. If you invest safely and prudent you cannot be exploited easily. Also, manipulation has an associated cost.

"What? Market had swallowed >150k coins dump in a day and we are still at 17? How?"

I'd like to know. .  I can tell by that question that that guy knows what he's talking about and something isn't right. And would indicate that the market is being manipulated somehow.

The coins making up that 150k were likely sold and bought many times over, just being circulated in an out, so still no.

But if you still think it's being manipulated, then I guess do something about it.

i already have.

Lol, fake?

I think it's because a lot of people are buying up bitcoins before ACIS comes out.

Fixed

That company is lame!  I used their website form twice to get information because I WILL buy from companies that take bitcoin, but they ignored both requests.  They don't get MY business now.