Can you take the top graph an divide it by price*total_btc_minted?
There you go notme. I am not sure what that might mean to you, but now that I have total_btc_minted in my raw data I am planning to run some experiments with it.  I don't know what it means either, but thanks  . |
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Someone buying 1,000,000 BTC driving the price up is not because of hording, it is because one person is trying to buy nearly a tenth of the bitcoins in existence.
We're getting off topic here.....the fact that much fewer than the 11MM are actually circulating and trading (because of hoarding) makes this much more difficult. The fact that you think the market should be able to handle $140*1,000,000 worth of btc tells me the market is way undervalued. 21 million ever is one of the key features of bitcoin. |
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This is what successful traders do.
However, if you try to coordinate different actors to work together at particular price points, eventually someone will go rogue and screw everyone else.
How would they screw over everyone else? Wouldn't they just buy into a ceiling or sell into a floor? Unless that person more than half the money, I don't see how that would work. Set their floor $0.01 highe and their asks 0.01 lower. They would get all the volume until they had enough to buy up everyone's asks and leave them behind. |
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All the newbies talking about loans and leverage is making start to feel bearish. Sorry guys, but "easy money" doesn't exist and when this thing turns around it will be all the leverage you idiots are putting on that will drive price to fall so quickly that you will be wiped out.
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This is what successful traders do.
However, if you try to coordinate different actors to work together at particular price points, eventually someone will go rogue and screw everyone else.
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Someone buying 1,000,000 BTC driving the price up is not because of hording, it is because one person is trying to buy nearly a tenth of the bitcoins in existence.
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When the names are finally released it will be fascinating to see all the (champagne) socialists on there. No doubt the lefties will make up the bulk of the list, but "capitalism" will get the rap.
...
Would not surprise me. Most of the highly intelligent people I know are pretty left-wing, and it is easier to get ahead if one is bright. Most of the right wingers I know are dolts who are in debt up to their eyebrows. OTOH, lots of silver-spoon kids grow up to be right-wingers also and they may account for the bulk of the capital. Now left-wing wealthy folks are probably less inclined to be tax cheats, but there will certainly be many exceptions to the rule. That's funny, the wealthy and intelligent people that I know are either right-wing or libertarian and those with the least money, state-dependent are usually more left-wing. Some of them are middle class, but none of the wealthy people that I know or have met personally are left-wing (those left-wingers who earned the money due to cronyism, nepotism or corruption which is not a rare occurence in my country are not counted here). Sounds to me like you are both making gross generalizations. The whole left-right dichotomy is broken if you ask me. Yep. People tell themselves X group are horrible people, then every time they see a horrible person they say, oh, he must belong to group X. |
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 Two puny 100 BTC walls duking it out at 135.51$ and 136.02$. Come on, open the gates so I can see where it's going.. You pick a direction and buy it up or sell it down. |
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what did you expect?
I kind of expected this, because I know that even skeptics will come to appreciate how brilliant Bitcoin is when they bother to learn in detail about it. personally I'm starting to doubt bitcoin abit because it requires someone to pay for Energy forever and in increasing amounts to keep it alive I don't think this is an issue. One reason being that highly efficient ASICs will soon be doing all the mining. Yes. That, and it is not ever increasing. Not only will the reward for mining shrink, mining only grows when price grows. |
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any idea whats causing the halt at the 133 area?
gremlins |
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When the names are finally released it will be fascinating to see all the (champagne) socialists on there. No doubt the lefties will make up the bulk of the list, but "capitalism" will get the rap.
...
Would not surprise me. Most of the highly intelligent people I know are pretty left-wing, and it is easier to get ahead if one is bright. Most of the right wingers I know are dolts who are in debt up to their eyebrows. OTOH, lots of silver-spoon kids grow up to be right-wingers also and they may account for the bulk of the capital. Now left-wing wealthy folks are probably less inclined to be tax cheats, but there will certainly be many exceptions to the rule. That's funny, the wealthy and intelligent people that I know are either right-wing or libertarian and those with the least money, state-dependent are usually more left-wing. Some of them are middle class, but none of the wealthy people that I know or have met personally are left-wing (those left-wingers who earned the money due to cronyism, nepotism or corruption which is not a rare occurence in my country are not counted here). Sounds to me like you are both making gross generalizations. |
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Get your shitstorm helmets on.
Had a permanent shitstorm helmet on since pirate ran off  Indeed. |
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136 again  We're not out of the woods yet. Out of curiosity, what would you consider "out of the woods"? $1,000,000 |
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Can you take the top graph an divide it by price*total_btc_minted?
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It is just an acceleration of the growth rate... Instead of one new user per 1000 existing we are getting three, for example (made up numbers). This is an increase of a in e^(a*t) Technically your formulation is equivalent since i^j^k = i^(j*k). |
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Fiat must be stored on the exchange because it takes so long to move, might as well put up some bids at low prices just in case it dips, while bitcoins are easy to move and can be stored offsite. The only reason to keep bitcoins on the exchange is if your willing to sell close to the current price.
This and the age of orders. Asks are already there. When we rally, bids don't immediately move up. |
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I would not classify as a business because I am not concerned with profit. I add fees, but that is mostly for the risk of lost opportunity. In fact, my "profit" from my selling activity is vastly negative. In fact, this deal could potentially put a significant dent in my holdings if I can't get the USD back to an exchange quick enough.
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No peak today. Anyone know what caused the enormous peak of Reddit /r/Bitcoin users yesterday? Not sure if it is related, but my friend told me she saw Bitcoin on the first page of yahoo news yesterday. She was excited that she knew what they were. Now I just need to get her to buy one. |
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Is it your business to buy/sell bitcoins? If so, then you should be registered with FinCEN regardless of the transaction amounts. Also, in that case, for certain high-level thresholds you should be collecting ID according to their guidelines and reporting them...depending on how many "several thousand" is, it may qualify as suspicious activity..
You also should be tracking profits to report on your taxes.
I'm following all tax laws. I sell for cash and rebuy, so it does not qualify as investment activity. I understand this means I would need to register for large amounts, but I was under the impression that there was a threshold under which you were exempt from the regulations. I'm trying to understand what that threshold is. I just do this a couple times a month as a hobby to help spread bitcoin. If you are right that there is no threshold then everybody who helps their friend buy in is in violation. I really hope I have an option between stopping what I've been doing and registering. Can I even register as an individual, or would I need to start a business first? |
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I sell locally for cash. I've been approached by someone who wants several thousand dollars worth all at once. Naturally, I will meet them in my bank and deposit it immediately, but are there any legal limits I should be concerned with? Normally I deal with a couple hundred dollars max. USA here.
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