Bitcoin Forum

so what are the excuses for the current low volume ?

where is the volume by the news related to things like:
wordpress ? (remember this one? boy the news about WP accepting BTC made the bitcoin forums to have more moisture that a cinema at twilight première)
china ?
Argentina ?
Cyprus ?
EFF ?
the bill boards ?
reddit ?
wikileaks ?
okcupid ?
webmoney?
gimp?
libertarian party ?
Khan academy ?
bitcar ?


months and months of posts about news that will make the BTC grow, so where is the economy ? where are the fundamentals behind the market ?



disclosure i am long

summer

My guess...

An increase in sales of bitcoin outside of exchanges or in dark pools. A decrease in large speculative buys for very short term trading.

It could also be the looming threat posed by ElephantCoin.  ;D

 

weekly
this week is not over but here are the numbers

Looks to me like you answered your own question.

Maybe people are just using it for what it is rather than something that needs to be converted to fiat. Hence, low exchange volume. What do BTC to BTC transaction numbers look like?

nope i asked what are the excuses and so far i did not get any


and how u know the transactions are from mixing coins and what transactions are from wordpress payment ?

Those stats you put up show that volume in currency is higher than in the past years' summer weeks. No excuse needed, Bitcoin is worth more so there is less volume to compensate. That is unless I missed a digit somewhere in those numbers, the formatting gave me a headache.

What is the question? You asked for excuses of why there is low volume, but you failed to first demonstrate that there is low volume needing an excuse! In fact, you demonstrated that the volume is quite healthy.

since last years the number of btc related bussines grow allot, price dont compensate just look at 2011 and 2012

the excuse is: build up a GIANT buy wall, and then a whale takes a shit.

Mt. Gox volume isn't reliable. Try comparing total volume. This time last year, no exchange came close to Mt. Gox's volume. Now, Mt. Gox's USD market makes up a paltry 30% of all trades.

Low volatility means low volume. Thats whats happening right now.

but what about the fundamentals ? all that new bitcoin economy all the good and services denominated on bitcoin

That is probably counted in to some degree by the market right now as well. When the bubble shot up it was a crass correction from being undervalued to being ludicrously overvalued in a matter of months. Now price discovery is turned into reverse and we are testing what lower levels seem appropriate. You still have to take the possibility into account that Bitcoin may still be strongly overvalued atm and price levels of the past months may not represent what BTC is worth right now but rather be under the bias of post-bubble euphoria. In other words: Nobody knows what Bitcoin is really worth right now and only after this bubble as completely deflated, we may return to a fully funtional price discovery mechanism.

This

Sums it up quite nice, MTGox is losing its volume due to other exchanges erupting onto the scene. I believe this assumption for the "low volume" is based of a single piece of an entire pie.

Big boys are waiting for confidence to go up. Then do a massive dump again to cause panic, buy back more cheaply. Repeat.

Can't know I suppose, but I expect I'd wager money on the percentage of users that use mixing services as being very low.

I think there are 3 reasons:
1 Whales waiting for new exchanges like Tradehill
2 Off-exchange trading with large volume not wanting to move the price
3 Exchanges distributing volume

i take it any high volume move up on an open orderbook will drastically increase purchase price

No, MtGox is not losing volume to awesome new exchanges, MtGox keeps fucking up and they are losing their volume to anybody who can code the semblance of an orderbook and keep deposits and withdrawals flowing.

today will be even more interesting day just to see the volume the over 2000 btc related business can make   :) so far 594 btc on gox and 157 on bitstamp and 38 btc-e

I think it's because gox is holding alot of people's money (I think they are holding ALOT more withdraw's than they lead to believe on, it could even be in the hundreds of millions of USD at this point).

Secondly, I think that BTC is overvalued. I think that alot of people who bought during the bubble got burnt and are afraid of crypto-currencies in general now.

Lastly, I agree that alot of volume has moved off-exchange, for a variety of reasons.