Latest posts of: macsga

btcnCNY seems to swallow 3000 CNY right now. I don't think it's consolidating (at least there)...
http://bitcoincharts.com/markets/btcnCNY.html

Total BTC 12,002,450 BTC
$500/BTC

Seems everything is round today! Grin

Quote from: Shak on November 16, 2013, 02:54:10 PM

postponed to monday after the senates hearing

Unlikely, but whatever serves bears' needs Wink

Quote from: Vycid on November 16, 2013, 12:41:08 PM

Quote from: ardana123 on November 16, 2013, 12:28:15 PM

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

Volume. GOOG averages 2,085,000 shares. That's per day. That means a total transaction value of 2085000 * $1033.56 = $2.155B/day. Bitcoin's total market cap is barely twice that, and its daily volume pales in comparison.

This is a big reason why Bitcoin doesn't behave like a traditional market - it's thinly traded.

The addition of something like the Winklevoss ETF would likely introduce a lot of that traditional market volume into the Bitcoin ecosystem and things would start looking more like Google pretty fast.

Also, Google has metrics like revenue, intellectual property, and so forth that give analysts a reasonable idea of what the company (and thus the stock) is worth. Bitcoin has no clear path to valuation and that means we run on sentiment. We humans are fickle creatures, so running on sentiment alone doesn't do much for price stability.

This!

BTC is breaking the $500 mark today. After that point anything is possible. Wink

420.0000

1Mt2DtYwYGMUnPJJW9FNU7TdkCuvNguEXm

My guess is that it won't go lower than $420 Wink

This is a normal correction. Time to buy (as in every weekend so far).

Meanwhile at the mining camp:

Hmmm... I think this is the first time hashrate shows some sort of stabilization. Either nobody is selling or people think that trading is much more profitable. Roll Eyes

On to the subject fellas:

Quote from: haightst on November 15, 2013, 12:09:27 PM

Quote from: proudhon on November 15, 2013, 12:05:33 PM

Just watched that wall on Stamp get gobbled up. Pretty incredible.

450 new "bottom" LOL Grin

MAY THE FORCE
BTC
WITH YOU!

If this is a speculative thread I might as well speculate a bit as well. So; here it goes:

1. Do you know any better way to dumb "black" money other than bitcoin?
2. Do you know any better way to "exchange" all that fiat inflation pile from the previous decades for a brand new and robust coin system (while no one really cares about?)
3. Do you think you *really* know for sure that bitcoin has a "noble" cause?
4. Do you think JPM and/or the other big fellas "just ignore it"?
5. What are the chances everything we think about bitcoin is *REALLY* wrong?

Well; I'd think again... but then, I'm Greek and I've learned (the hard way) to be a little bit more sceptic the last 5 years... Wink

Good night fellas. The rally will continue (and the cause won't be "noble") Wink