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The volume of BTC China is reset everyday at midnight of China (16:00 UTC) oh okay...then just add a 0 China is dumping
Welcome to BTCChina! Bitcoin Price Ticker ( BTCChina, Realtime) CNY Last BTC Price: ¥1,225.50 High: ¥1,329.01 Low: ¥1,205.00 Last Bid: ¥1,210.00 Last Ask: ¥1,227.10 Volume: 320.478Bitcoin Price Ticker (Mtgox, Updated every 5 min) USD CNY Last BTC Price: $185.49 ¥1152.52 High: $194.9 ¥1210.99 Low: $155 ¥963.08 Last Bid: $183.65 ¥1141.09 Last Ask: $185.49 ¥1152.52 Volume: 99923....bit of a difference in volume |
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This dip was not nearly as much as I expected. Is it that A ) People are getting smarter and not messing around when Gox starts lagging, or B) We could see a double dip later today or tomorrow before jumping back on the BTC rocket to $300 next week?
Could it be that it's stabilising on its mad rush upwards? all i know is that i saw a ton of coins hit the floor and change hands over the last few hours |
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China is dumping
Welcome to BTCChina! Bitcoin Price Ticker ( BTCChina, Realtime) CNY Last BTC Price: ¥1,225.50 High: ¥1,329.01 Low: ¥1,205.00 Last Bid: ¥1,210.00 Last Ask: ¥1,227.10 Volume: 320.478Bitcoin Price Ticker (Mtgox, Updated every 5 min) USD CNY Last BTC Price: $185.49 ¥1152.52 High: $194.9 ¥1210.99 Low: $155 ¥963.08 Last Bid: $183.65 ¥1141.09 Last Ask: $185.49 ¥1152.52 Volume: 99923....bit of a difference in volume |
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What? Bitcoin-24 at $240 ?!
...1 coin btce $166 |
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You know this for sure because?
Don't get me wrong, I am all for the idea behind bitcoins, but this recent price run up is definitely not due to practical implementation of bitcoin for real world uses. The price is increasing because people have been reading news stories about how a bunch of people became millionaires from investing in bitcoins and they want to do the same. Bitcoins true value as a decentralized currency has been pushed to the side. If there weren't so many people going crazy over the price bitcoin it could achieve a more natural growth. Bitcoin cannot be compared to any other commodity at this point. We are in uncharted territory. Expect this kind of volatility going forward. These rapid up and down swings are 'normal' for bitcoin and they will continue throughout bitoin's rise. Over time, these '$20 within 1/2 hour micro swings' will merely be little blips on the steady (seemingly steep) upward macro trend and you know this how? i heard tings i dunno: 1. bitcoin characteristics....limited supply, infancy stage, etc., growing community, media coverage, business adoption, ATM builds, etcetc 2. look at the chart curve for the last 30 days, 90 days, 6 months....zoom in and out 3. speculation with the promising novel |
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You know this for sure because?
Don't get me wrong, I am all for the idea behind bitcoins, but this recent price run up is definitely not due to practical implementation of bitcoin for real world uses. The price is increasing because people have been reading news stories about how a bunch of people became millionaires from investing in bitcoins and they want to do the same. Bitcoins true value as a decentralized currency has been pushed to the side. If there weren't so many people going crazy over the price bitcoin it could achieve a more natural growth. Bitcoin cannot be compared to any other commodity at this point. We are in uncharted territory. Expect this kind of volatility going forward. These rapid up and down swings are 'normal' for bitcoin and they will continue throughout bitoin's rise. Over time, these '$20 within 1/2 hour micro swings' will merely be little blips on the steady (seemingly steep) upward macro trend |
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Hmmm...now here's a bubble that doesn't look to be crashing anytime soon.   Sheesh, put that shit on a log chart! I know right? Looking at this on a lineair scale is so uninformative... this graph should be used for all retorts in the media when they talk about the coming bitcoin 'bubble' burst. yeah, supernova baby! That is some scary shit right there. The US is pretty much already bankrupt. Thing is, if BTC is worth $100,000 and the dollar is worth nothing then...are we all poor again? by that time bitcoin will be the accepted medium of exchange and bitcoin e-bays, grocery store chains, etc. will be accepting them. |
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Hmmm...now here's a bubble that doesn't look to be crashing anytime soon. Sheesh, put that shit on a log chart! I know right? Looking at this on a lineair scale is so uninformative... this graph should be used for all retorts in the media when they talk about the coming bitcoin 'bubble' burst. yeah, supernova baby! |
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anyone else having trouble with clark moody?
yes |
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1-3 weeks ago I believe, can't remember for sure. Not as good as bitcoinity but it will do for now  but it's powered by bitcoinity tho...? maybe bitcoinity moving there permanently? |
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great post Chydenius!
Africa is a great place to spread the word...lots of 'poor' people, but they all have cell phones and transact via their cell phones. hmmm
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love this Johannes! would be great to be involved somehow. kann Deutsch sprechen und wohne in Kanada, bruder wohnt in Asien und spricht Mandarin, freund in Kanada (auch Deutsch) hat film in der Uni studiert...
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i've purchased for the long haul. no brainer for me. even if we crash down to $1 (not happening) i'll hold and six months later they'll be at $500
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perfect! yes, the more we inundate amazon, ebay, etc. with bitcoin queries they'll obviously take notice and the word will spread, and the community will grow!
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i agree, let's keep cool heads and stay positive. mtgox, etc. will iron out these little inconsistencies as the bitcoin user base expands.
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They're doing their best. With the massive influx of new accounts and the skyrocketing of the price within a relatively very short period of time (compounded with attack issues) it's realistic that they would have been a little unprepared. Over the next few months Gox will see a lot of man power coming in to help out with everything. Keep it positive for our investments, and let's not scare away noobs (like myself) who will increase the size of the bitcoin community.
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maybe the E kicked in slightly earlier for those first 3 but yes, i am in full agreement as to the steps necessary to increase the size of the bitcoin community. it would be good to see some marketing firms get involved with social media campaigns and the like |
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