Why don't you have an option for both? I'm short on Bitcoinica and on Gox I have been selling off a coin at a time as the price goes up. Once we dip below $5 again I will buy back some coins and liquidate the short  this is why we are going to 8$ |
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I bet the market goes ********* for a quick ********* then a massive ********* which will force ********* to ********* and cause a major *********.
Anyone wanna bet?
I bet the market goes *Down* for a quick *Drop* then a massive *Buy* which will force *Shorts* to *Liquidate* and cause a major *Orgy*.  |
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Some people must have no lives other than watching threads and price movements. Now to something completely different: Will the 5.10 wall hold? its holding!   |
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its looking rather bearish right now  |
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The ultimate test of the free market is not one innovation in the market. Bitcoin is just one thing, if the incentives are set up wrong that means bitcoin fails because markets weed out wrong ideas.
But if you all drop out I'll fire up my CPU miner and take all the fees every 10 miuntes.
if your CPU mining, i will pull out my GPU and start preforming 51% attacks will their still be enough miners to make it very hard to take 51% of the network? |
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This question is subject to great speculation, It is perhaps the ultimate test of free market superiority. The short answer is we do not know, but in my opinion yes, the market will find the equilibrium.
To understand the effect of having all the bitcoins minted in less then 30 years, we must take a closer look at how the bitcoin network works. Minner use their hashpower to have a chance at generating a new block. Every 10 mintues one miner is rewarded for adding a new block to the block chain, with freshly minted bitcoins (50BTC) and all the transaction fees paid in that block. As we get closer to the 21 million bitcoin limit the block reward will be halved again and again, once we are very close to 21 million bitcoin the block reward will be negligible, at that point minners will only be rewarded with transaction fees. Not only do miners mint new bitcoins and process transactions, but they also secure the network. Right now the extremely high hash rate of the newtwork, makes a 51% attack unfeasible, but bitcoin could become vulnerable to a 51% attack if the hash rate drops.
To Conclude:
Bitcoin will continue to grow and with it the number of transactions every 10 minutes. Each block has maximum number of transactions it can record. I would speculate that in 30 years, transactions will exceed this limit. As a result people will pay higher fees in order to process their transactions faster. This competition for speedy transactions will create sizable rewards for miners processing the new blocks, Thus the bitcoin network will continue to thrive.
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I have a date tonight.. I hope it ends like this chart..
Mission Accomplished!! how many btc did it cost you?  |
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lots of selling going on
5$ will be tested once again
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5.10 wall is no more! one order over 2,000BTC wiped it out  but the bids above 5$ appear to be building up fast |
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5.10 Bid was tested and appears to be holding new wall! at 5.11 |
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I'm curious,
why do you want this raw data?
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so is this the day when you guys finally start listening to arepo when he makes predictions about the market?
if there are any bears left, i strongly advise you to abandon ship before the waves go HIGHER
No... anyone who was blindsided by that needs to learn to trade. Hold on to your shorts!  |
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You may be right... 10 cents and people are going crazy over the massive action.
It is massive in relative terms. Meh...  you see the volume is still their, so why in the world is bitcoin "stable" my guess is: bitcoin is growing, but at the same time the "lucky bitcoin millionaires" are looking to secure at least part of their well earned bitcoin wealth, by cashing out and buying gold or something. once they have all cashed out, the selling pressure will stop. breaking 5$ was a big signal, the lucky bitcoin millionaires are running low on bitcoins. this is very good news, bitcoin user base expanding, coins more evenly divided bitcoiners are becoming more financially secure, and less effected by price swings, allowing them to more effectively "back" bitcoin Not impressed. I don't think things are going to look much different a month or so out. How many times have we broken $5 now? thats just the thing "How many times have we broken $5 now?" many times... why is this time different from the other times? because the other times we broke 5$ only a few times, and now its many times, get it?  |
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Looks like this is gonna be a late night, maybe a test above 5.20 before I goto bed would be nice  not like im able to sleep right now with the price moving... go to sleep, price moves faster when your sleeping, you'll wakeup to, high of 5.22 current price 5.06 |
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You may be right... 10 cents and people are going crazy over the massive action.
It is massive in relative terms. Meh... Well, granted, the chart you linked makes this move look minute, but perhaps it was the necessary nudge to possibly ignite a rally. In a market that used to see $.10 moves 10 times a day, then to have two solid weeks in a ten cent range, or the last month in about $.20 range, I don't think it's exactly overreaction to get excited. We're about to break the $5.07 resistance too. Maybe this was the kick in the ass people needed to act upon. 5.09899 breaking 5$ over and over, and now a bid wall fallowing the rally = Bye bye 4.xx$ for good i think the price will "cost up" how high will it cost before we see serious resistance again? 8$ |
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You may be right... 10 cents and people are going crazy over the massive action.
It is massive in relative terms. Meh... you see the volume is still their, so why in the world is bitcoin "stable" my guess is: bitcoin is growing, but at the same time the "lucky bitcoin millionaires" are looking to secure at least part of their well earned bitcoin wealth, by cashing out and buying gold or something. once they have all cashed out, the selling pressure will stop. breaking 5$ was a big signal, the lucky bitcoin millionaires are running low on bitcoins. this is very good news, bitcoin user base expanding, coins more evenly divided bitcoiners are becoming more financially secure, and less effected by price swings, allowing them to more effectively "back" bitcoin |
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