 Observe that while the last few dropped the price by ~30% from its ATH at the time and hit the EMA(21) solidly, this one only managed to hit the EMA(10) and did not manage to drop even as much as 25%. With record bids ($10M!) and a rapid rebound, I'm pretty sure that we're going to hit $100 soon. Two-hour EMA10 and EMA21 failed to cross, half-hour ones have crossed back already,the only EMA 10 remaining under EMA 21 is the hourly one. The plunge also failed to breach hourly SMA 200, unlike in previous crashes. |
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So I get it, the 2013 high should be 100*15.4/7.22=$213.3, not bad.  |
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One can always trust chodpaba to mess up the best trollolo with hard cold math and economic theory.
He was trying to show you how many chairs you need to prepare for your club meetings. |
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While we are engaged in rhetorical gymnastics... Given a Pareto type exponential distribution this is an estimate of how Bitcoin wealth distribution might shake out once all 21,000,000 BTC are generated. The table shows the population of each wealth group and the approximate BTC wealth that each member of that group would hold. It shows about half of all BTC wealth being controlled by some 4,000 individuals. 80% being controlled by only 1.5 billion people. With entry to "Middle Class", and even the "1%" being marked by an amount of BTC wealth that we would consider to be a transaction fee today. And the rest living on "dust". 1
7
31
155
771
3,843
19,203
96,003
480,003
2,400,003
12,000,003
60,000,003
300,000,003
1,500,000,003
5,500,000,003 | 923,589.76733184 BTC
32,985.34883328 BTC
9,310.38071907 BTC
2,327.59517977 BTC
584.91772514 BTC
146.68604153 BTC
36.69442650 BTC
9.17475329 BTC
2.29374566 BTC
0.57343928 BTC
0.14335996 BTC
0.03584000 BTC
0.00896000 BTC
0.00224000 BTC
0.00076364 BTC |
Or else: the bitcoin wealth distribution atm is actually much more fair than that of the old-world wealths. |
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Are we into the Cryptocurrency Wars now? Litecoin advocates tryna step up? Look closely between 3PM and 7:30PM... someone(people) knew... may be a good indicator of imminent corrections going forward. Yeah I'm thinking the Litecoiners are trying to orchestrate selloffs to boost Litecoin's value. They've been very aggressive on /r/Bitcoin recently. They must include some early Bitcoin adopters who are envious that they weren't the super-early adopters, so they may still have a ton of Bitcoin to play with. Possibly... hadn't even thought of that. I was thinking more along the lines of someone smartening up and using LTC as a hedge against BTC without having to deal with goxx issues and pay less fee's. In all honesty, I'll probably start testing this out.  I disagree, that would be suicidal. |
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Why don't you check the all-time chart? At this price the recent peak values should have been way higher than the 2011 peaks, but the truth is the opposite. Because the long-term chart may be even more misleading. Reason is that the cashing-out done in 2011 will have put coins from very large stockpiles into the hands of new buyers. Some of whom will also have stockpiled, but generally that peak created many smaller stockpiles in many more hands. Ideally we need a 2-year filter on blockchain.info which would help give a clearer picture. Yes, so you are essentially saying that coins transferred from ealry adopters into the hands of later adopters, right? A clearer picture could be done if we use the power function of time factor in the calculation of the days destroyed metric instead. |
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1. When the price plunges, the volume per minute is always much larger than when it rises, did you get the memo?
2.Gox was lagging like hell when the price rallies in the previous days, but I know you never bought so you would not know.
3.OP is a troll.
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Bears, what's the problem? Do you mean instead of a 1/3 retracement, we'll have to settle for a 1/4 retracement? Come on, try harder, my fiats are ready, but not ready for such gimmicks?
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Why don't you check the all-time chart? At this price the recent peak values should have been way higher than the 2011 peaks, but the truth is the opposite. |
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Down we go some more, we hit 10.5 today. Those single digits are just calling to us, who wants to push the price down that last little bit?
I think the buyers will take the opportunity to buy at this stage. We could see a mini-runup to about 11-12 during the weekend, even higher, as the sellers cannot easily respond due to the bank holiday. Smashing the supposed support of 10 for good, will not take more than 1-2 weeks, imo. It will offer an ultimate resistance to the price during any subsequent dead cat bounces later down the road. Looking at the past few price changes, I think we might see a spike back to 13 just before the price drops below 10. I am gonna panic sell this "dead cat bounce". |
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To a paper wallet. It's insane that my cellphone is worth more than my car.  +1 I keep only 0.5 BTC on my phone for kicks! hahahaha I've enjoyed watching the "Currently valued at" go up but it would be somewhat painful to lose that much now. I wish there was a more fireproof way. I have a couple of ideas but they would be too expensive for a one-off and it's not really something you could do as a service. Try etching that on a ring, leave out several digits which you will only store in your brain. |
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Waiting for you guys to implement options trading so we can get rid of this irrational exuberance.
What about MPEx? Have had tens of thousands of contracts in March. I am fine with 30 BTC registration fee or operators being a jackass or incredibly complicated fine-print, but I am not fine if I have to swallow all of them at the same time. |
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Waiting for you guys to implement options trading so we can get rid of this irrational exuberance.
i do wait the same but so far mtgox and the lag, and api eat development time  I understand, so I am waiting, patiently, and meanwhile trying to get this irrational exuberance to work for me. |
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Well, I assume you think Bitcoin can't be a safe haven as it is still in it's technological infancy, but as it isn't correlated to any other asset in the world, it has the possibility of being a good hedge. And so far it has been. On bubbles, they can grow quite a lot bigger before they crash. From Wikipedia, on the dot-com bubble: There is nothing safe about bitcoins, a quick glance at a 6mo chart of USD/BTC will show you that, and yes I would attribute that to infancy in general. And what good does the peak of a bubble mean to anyone that loses their shirt? What good does the peak mean if the higher the peak, the harder confidence in the currency gets hit after the correction (and depending on the degree of correction)? If your argument is that it's a bubble but it might pop higher, I can't disagree. The volatility is irrelevant and actually what we have to expect from anything which has to start at zero. And my argument is that it indeed will pop higher, only a lot higher with not one single large pop, but many small ones (as we have seen the last few months). And it will recover even then. The volatility was way higher when the price was low. |
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Waiting for you guys to implement options trading so we can get rid of this irrational exuberance.
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Any bears feeling like to sell me some call options? Escrowing through bitcoin-otc or forum moderators.
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If you are really risk-aversive, sell half of you BTCs, and put the fiats you get on loan.
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I am waiting for the day when two pizzas will be worth a whole nation.
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Wouldn't be too hard to cause a mini crash right now - bids are tiny.
Compared to how many bitcoins are likely in MtGox, the bids are thin all the way down to $1. When the ball gets rolling in the other direction with the big guys playing, this whole thing will come undone exactly like last time. Really, the question on everybody's mind should be whether bitcoin can survive 2 catastrophic market collapses. It's not a matter of if another one will happen, it's a question of when, and we're getting closer to the breaking point. All right, I bite: - What crash are you expecting? Down to what rate? - In what timeframe are you expecting it to happen? - Under what circumstances will you convert to bull-side? Like, no crash until x BTC or day y? You fail to deliver any reasoning in the last months. You fail at your vague predictions. You fail at answering others here. I, personally, will judge your bear/troll ratio on your answers on this. Although I don't expect you to care a lot, obviously ;-) Ente Why bother arguing with someone who would not even respond? |
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Just a quick note: We're on parity with the Democratic Republic of Congo, which is somehow not what the word "Congo" is traditionally used to refer to in the international politics(that would be the Republic of Congo), in fact it was known as Zaire about a decade ago, maybe we should somehow distinguish between the two.
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