I really like how that looks! What software is that? btccharts.com |
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879 yuan to go until gold parity  |
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A $71 USD spread. I knew I should have turned down that last load of barn wood and converted all my money into bitcoins.
Actually, the return I get with flipping barn wood is still better than if had all my money tied up in bitcoins, albeit the gap is narrowing as the economy improves and more people started doing what I do.
What is this reference to "barn wood" a cannot find a source explaining this? You mean "barn wood == USD"? As in both good for burning? He means wood, from a barn. |
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I always loved Lucif's TA thread, but hearing Masterluc phrase his Jedi wisdom in Yoda's voice makes this the best thread on this site.
What ever happened to Lucif? Also, does anyone know of popular BTC related forums for the China market? masterluc is lucif  |
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I feel like people are just pumping this. If you look on mtgox there are times when someone is buying 30+ dollars over the average but there is also times when people are selling for 30+ below the average. Also who would buy a btc for 540 when the average is clearly 504? I think a large group of investors are behind this just pumping the avg pretty much. I've never seen btc jump like this and there really is no major reason behind it. What are your thoughts? Do you think this is just happening because of interest or do you think there is more to it?
zoom out:  |
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Keep going west and you'll find China eventually.
East works too. |
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I am here, more bearish than ever! I was wrong when I sold at 350: that f_cking wall at 300 did break and now we are +200... so yeah, my prediction was incorrect. But I still don't understand why we are at the current price, makes no sense at this point imo... so I would not rebuy until I see at least two corrections. Look at a daily chart with volume for the past 2-3 months. Each of the down days had huge volume and all of these sellers are chasing. |
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0 1 1 2 3 5 8 13 21 34 55 89 144...
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The crash from the eventual high is going to be epic.
 LOL, some of the people here will still be holding their BTC when they look like the guy in the bottom half of that picture. Bitcoin : You really can take it with you when you die. I'll sell a few close to $1000 There is always a bigger fish in this market.  This is why we no longer have any bearish whales:  |
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You guys fail to see the real value of Bitcoin and why is rissing so fast.
Right now is a fantastic long term Store of Value, the currency side will start to grow in use after the price is more stable in a few years.
A currency that fluctuates anywhere from 10% to 80% in one day is a horrible store of value. It`s far too voiltile now to have any confidence in future valuations. In order for it to stabilize, people need to actually use it to purchase goods and services, not just speculate. I just don`t see the need for people to convert their fiat to bitcoin, costing them fees, so they can buy Subway sandwiches. Nobody who has held for 18 months or more has taken a loss. I`m sure a beanie baby collector in 1996 would have said the same thing.  Right, because beanies babies are useful, like a censorship resistant digital currency with a hard supply limit and bounded inflation. |
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You guys fail to see the real value of Bitcoin and why is rissing so fast.
Right now is a fantastic long term Store of Value, the currency side will start to grow in use after the price is more stable in a few years.
A currency that fluctuates anywhere from 10% to 80% in one day is a horrible store of value. It`s far too voiltile now to have any confidence in future valuations. In order for it to stabilize, people need to actually use it to purchase goods and services, not just speculate. I just don`t see the need for people to convert their fiat to bitcoin, costing them fees, so they can buy Subway sandwiches. Nobody who has held for 18 months or more has taken a loss. |
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Everyone has a price. Everyone. Mine is US$10k. If bitcoins hit US$10k each I'll sell all of mine to all comers. Until then I'll hoard and not spend a satoshi.
Thats a high price my friend by anyone's measure. When do you think we will reach that? 573 days |
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He who controls the miners, controls Bitcoin.
And who controls the routers, controls internet. But if they try to partition or censor the internet, it is simple to set up new routers to rejoin the partitions. |
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bitfinex is limited to 1:2 atm.
Not to mention they never have USD reserve to buy on bitstamp lately. OP wants to short. This should open up some USD. |
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Oh well, basically everyone who has bitcoins is currently sitting on profits. And a lot of people are starring at their wallets and cannot believe how wealthy they have become or becoming....this cannot go on forever.
We should not forget that there are currently 3.5 Mio USD on loan at Bitfinex at high interest rates (80% p.a.) for leveraged bitcoin long positions. This all goes well as long as prices go up, but once we reach stability or a drop a lot of coins will come to the market. Given that many people try to react quickly to get out of their positions, creating margin calls could create a flashcrash to levels no one would expect.
In my eyes the crash will come, the only question is when and from which levels.
@$500/BTC $3.5 million is only 7k coins. Sure that is significant, but it isn't enough to clear the bids down to $450. 1. Bitfinex prices are linked to the Bitstamp orderbook (465 USD)... much lower depth... 2. Those loans were not taken out at 465, but at much lower levels. 3. People use their coins as margin and might be sold as well... Letīs guess it is 10000-12000 coins... Only these coins could bring down the bitstamp and bitfinex price to USD 300... 1. Bitfinex prices are linked to the Bitfinex order book, which has Bitstamp orders, plus in house orders. 7000 BTC would indeed take us to $370, based on order depth alone, but arbitrage opportunities will dampen that quite a bit unless it happens very quickly. 2. Right, so there is quite some headroom before they are forced out and my observations are that Bitfinex longs decrease when there are down drafts. In other words, they are using stop losses. 3. Sure 12000 all at once would take Bitfinex to $280. 10000 would take it to $320. But, the headroom, stop losses, and arbitrage will keep us from seeing bitcoinica era volatility caused by Bitfinex. It may happen due to other forces, but Bitfinex doesn't have enough leverage and the exchange market is too widely distributed for Bitfinex to control price. |
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Other than the factual inaccuracies and the typos and the difficult to read text, good job. Seriously, thank you for making an effort to spread the word. Your core message is good, just fix up a few details and you'll have a professional quality video.
In particular, Bitcoin is not inflation free. It has bounds on inflation and a hard limit on the total supply, but at the moment the bitcoin monetary base is inflating faster than the USD.
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Oh well, basically everyone who has bitcoins is currently sitting on profits. And a lot of people are starring at their wallets and cannot believe how wealthy they have become or becoming....this cannot go on forever.
We should not forget that there are currently 3.5 Mio USD on loan at Bitfinex at high interest rates (80% p.a.) for leveraged bitcoin long positions. This all goes well as long as prices go up, but once we reach stability or a drop a lot of coins will come to the market. Given that many people try to react quickly to get out of their positions, creating margin calls could create a flashcrash to levels no one would expect.
In my eyes the crash will come, the only question is when and from which levels.
@$500/BTC $3.5 million is only 7k coins. Sure that is significant, but it isn't enough to clear the bids down to $450. |
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The price of bitcoin will be exchanged for $1000 USD or more at any time before 12:00am January 1st, 2015. It need not hold for any period of time, bet closes as soon as it hits $1000 or at the end of the time period.
In the event that MtGox does not exist anymore, the site moderator here at betsofbitco.in will determine which exchange's data we use http://betsofbitco.in/item?id=13771.50 BTC for and 2.50 BTC against. Ok so If I bet 2.5 on against how much do I get if I win? I am quite new to the betting system you are offering.. It is not calculable because other people might bet tomorrow and the amount you win would change but there is a relation between the amount you bet and the how early you bet. Some one betting today will get considerably more money than someone betting on november next year. 50% of earnings are calculated depending on how much you bet and 50% on how early you bet. The system is really weird, can you explain more in detail how much I would get if I bet now on against? |
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If btc users save their coins, and they do not circulate, then btc which circulate gain in purchasing power. When I last checked, the velocity of btc was 5.93, which is comparable to usd. However, since btc is a superior saving instrument, being deflationary, this velocity is likely to go down, driving up the value of a btc relative to goods and services. You can't compare money supplies to estimate relative valuations. You have to estimate money flows, M*V.
What is the velocity you are talking about? Any sources, explanations? |
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