Wild theory: people getting their money off the Chinese exchanges and joining Bitstamp/Bitfinex/Kraken?
Western exchanges are approaching 1000$ with the Chinese stuck at lower prices.
that wild theory might explain this. https://twitter.com/cnLedger/status/830244903032549376Exchanges with "more normal" withdraw services are priced hundreds Yuan higher. |
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What's on? Your site promotion?  There would be an official announcement if the Winklevoss's had it approved and it was starting. More then likely on their Genesis exchange. That's what coinbase would do.  this is gentlemen? |
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I dont think the market really cares about china...speculators use the china news as a good excuse to dump and try and buy back lower. but at the end of the day, once the news is over price floats back up.
I sold a few when i heard that PBOC was making bitcoin leveraged trading illegal, i thought this would have a profound impact on BTC demand and price would drop, and then price just kept rising... then volume in china went down by like 80% as they added fees, still price kept going up! probably because, the "chain bans bitcoin" news had already served it purpose, the fact that BTC demand went down in china had no impact cuz no one actually cares about that, all they care about is making sure price is low while the scary headlines are flying around.
so, i think market is (rightfully so) saying price is low and will go higher, REGARDLESS if china bans bitcoin or not, but it would be a shame not to grab cheap coins while there is scary FUD.
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what time to you think chinese lawyers get into their offices? like 9 ish?
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bitcoin market behaving like typical bitcoin market...taint nuthin but a thang
so here's my prediction for this date next year (ill quote this post in a year to see how close i am)
feb 9 of 2018 will be ... $1850 ( fyi...just pulled that # outta my arse from watching price for past 3 years...and i'm a hodler)
i'd say closer to like 7470 |
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I can feel the rumble of 10,000 bulls running towards market.  ...oh wait, no, that was a fart. |
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>980 in <30mins
~6hours away from >1000
~24hours away from 1050
~72hours away from ATH.
that right people.
THE PRICE IS WRONG!
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Calling the bottom. Wasn't the margin trading expended in China? Then they can only sell once.
And what exactly might that be? $945 - $899 -$700 ? People would like to know... I want to know.  The rollercoaster ride isn't over yet now. this is bottom. anything <1000 is cheap. bear trap will now close. I realize this is your thread, but I believe you are jumping the gun here. looking at bitfinex margin data market was top heavy last night. the FUD this morning was pretty good. price suffered. thats all. now we are all going to panic sell because china _____? naaa this is as good as it gets, welcome to the bottom. |
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Calling the bottom. Wasn't the margin trading expended in China? Then they can only sell once.
And what exactly might that be? $945 - $899 -$700 ? People would like to know... I want to know. The rollercoaster ride isn't over yet now. this is bottom. anything <1000 is cheap. bear trap will now close. |
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i saw this coming miles away, problem is i positioned myself accordingly ~3weeks ago |
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who dropped their bags of riches?  |
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Imagine yourself 20 years older, trying to explain to the new generation, what is fiat.
bahahahaha
good luck!
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There will be people in the world that will buy bitcoin, use bitcoin, want bitcoin, even need bitcoin. They will do this for many different reasons. The vast majority of these people will not be rich. Most will be poor.
But when the rich people of the world suddenly see the opportunity to buy up bitcoin, their future intention is to sell it back to the middle class and the poor at 5X, 10X, or even 20X the price of what it was before. They can do this just by gobbling up supply.
That's what the rich have done with real estate, PMs, stocks, etc.
So take heed, people. Why wait? You need to be selling bitcoin back to them at 20X.
In other words, if you cannot fight them, then join them... OR you use your BTC to buy a life time supply of goat shit from them, no more heating bill!  |
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I like to think parity in terms of ~380 ounces per BTC. That's due to the ratio of 6.1 bn above ground ounces vs 16.15 mn bitcoins mined. That would require a price of $456k per BTC - but at least the scarcity ratio would be accounted for... As a side note, the problem with gold spiking upwards is its large marketcap and large annual production levels. At current prices, ~3500 tons of gold per year of new mining output (without factoring recycling) is ~110mn oz. That requires 132bn USD to absorb. A tenfold increase in the price of gold, would suddenly require 1.32 trillion USD per year just to buy annual production. The problem is that there is no such liquidity in the system for allowing this. On the other hand, silver or bitcoin, can do much larger runs due to their smaller marketcap and much smaller liquidity requirements to buy their annual production. BTC at 10500$ (10x) would require just 6.9 billion per year to buy the annual production (657k coins x 10.5k usd). Silver at 170$ (10x) would require 136 billion per year to buy the annual mining output of ~800mn oz. Gold is priced so high that the numbers involved are too high at 1.32 trillion USD (in a scenario of 10x price) for its 110mn oz. It could happen in a hyperinflation scenario, but then the money one takes wouldn't be worth it anyway. In a sense, gold is constrained from doing a huge run by its large marketcap and the liquidity requirements in the fiat system to sustain prices of 10x+. Silver less so, and bitcoin even less so. Bitcoin seems to be the best bet in terms of upwards potential because it's so small and its fiat requirements to sustain its rise and mining output absorption are equally small. Nice analysis.  ya +1 |
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the clock is ticking...
>32,000 in <1year & 331days
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Gona hit 1000 USD today, thats my prediction  Gonna hit it, ONLY?  or go above it? If it goes above $1,000, then likely we need a 2% or more cushion just to be safe, no? I think that just hitting it is really NOT very meaningful, because at this point, we are about 2% from "hitting" it, and seem like it is just about the same as "hitting" it... The more important question, at the moment, seems to be about whether we will break it or not, and get sufficiently cushioned above it for at least a day or so.. Am I wrong? It's only another $12 to go before $1000 and its been gradually creeping up all day. It might slowly carry on creeping up after $1000. we'll kinda hover below it for a day or two, and then blow past it, get to 1200 pretty fast, and let that gradually creeping resume. |
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Patrick Byrne on FOX tv, this guy is one of those awesome Bitcoin frontrunners  Overstock +16%, good job Patrick!  #myteam ~Wall Street Wants In!!! on his red cap, isnt that a cool move from Patrick? straight up gangster! he strikes me as just plain awesome. just found the interview on youtube. yup he's the man. |
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The last 3 months, GBTC has gone up 19.61%, while BTC has gone up 57.33%. The last year, GBTC has gone up 68.67%, while BTC has gone up 119.65%. ...suggesting that COIN and XBTC ETFs might have a chance. I don't know about that. Why would someone sell their shares of GBTC based on that premise, given that the underlying asset that they hold would be worth a lot more on the news of COIN or XBTC being approved? no, the ideal trade based on that premise would have looked like this (last July when premium was the highest): Short GBTC, buy the equivalent $$ amount of bitcoin. Almost no risk if you know that ETF is going to be approved eventually. As you yourself pointed, that trade would have made almost 51% in a year (119.65-68.67) with almost ZERO risk. AFAIK, GBTC can't be shorted because it is an OTC product, not exchange listed. The only way to make that trade is if you already hold some. besides the ETF will carry the same premiums |
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