A very positive trend

[johnyj]

This chart is worth reading, the overall trend is very positive: The size of bid has approached previous high, but the size of ask has dropped to near all time low. Long term wise I predict that the ask size will continuously drop (since people will realize the long term potential of bitcoin and start to save more and more of it). Even the bid size do not change, the price will rise eventually

[N12]

MtGox fixes their withdrawals, BTC sum skyrockets to 150-200k.

MtGox doesn't fix their withdrawals, sooner or later the BTC will begin hitting Bitstamp.

I think people are delusional to think current Bitcoin supply is anywhere near "normal" levels. Consider for a moment that over 100k BTC are created every month (and we are about 30% quicker), plus miners' marginal profits continue their collapse with about halving every month. They'll have to sell more and more to amortize their newly shipped ASICs, and when we squeeze even more, to cover their electricity costs.

There's no new money flow in truth, only an illiquid primary exchange that is delaying and distorting everything.

[AmunRa]

MtGox fixes their withdrawals, BTC sum skyrockets to 150-200k.

MtGox doesn't fix their withdrawals, sooner or later the BTC will begin hitting Bitstamp.

I think people are delusional to think current Bitcoin supply is anywhere near "normal" levels. Consider for a moment that over 100k BTC are created every month (and we are about 30% quicker), plus miners' marginal profits continue their collapse with about halving every month. They'll have to sell more and more to amortize their newly shipped ASICs, and when we squeeze even more, to cover their electricity costs.

There's no new money flow in truth, only an illiquid primary exchange that is delaying and distorting everything.

Amin

[Odalv]

MtGox fixes their withdrawals, BTC sum skyrockets to 150-200k.

MtGox doesn't fix their withdrawals, sooner or later the BTC will begin hitting Bitstamp.

I think people are delusional to think current Bitcoin supply is anywhere near "normal" levels. Consider for a moment that over 100k BTC are created every month (and we are about 30% quicker), plus miners' marginal profits continue their collapse with about halving every month. They'll have to sell more and more to amortize their newly shipped ASICs, and when we squeeze even more, to cover their electricity costs.

There's no new money flow in truth, only an illiquid primary exchange that is delaying and distorting everything.

Network total 1013.313 Thash/s ... it was "only" 19 Thash/s few months ago.

[chufchuf]

MtGox fixes their withdrawals, BTC sum skyrockets to 150-200k.

MtGox doesn't fix their withdrawals, sooner or later the BTC will begin hitting Bitstamp.

I think people are delusional to think current Bitcoin supply is anywhere near "normal" levels. Consider for a moment that over 100k BTC are created every month (and we are about 30% quicker), plus miners' marginal profits continue their collapse with about halving every month. They'll have to sell more and more to amortize their newly shipped ASICs, and when we squeeze even more, to cover their electricity costs.

There's no new money flow in truth, only an illiquid primary exchange that is delaying and distorting everything.

there are tons of sheep shagging texans that think they're god gifts to earth and hate inflation and love gold. and money is no longer going into the government money required to buy mining equipment, now its going straight into BTC.

[ElectricMucus]

There's no new money flow in truth, only an illiquid primary exchange that is delaying and distorting everything.

Nah, the buy and hold crowd probably does that even now. So I think there is new money, it just comes from the same people as in summer.

[cedivad]

I think that a lot of money is going into the bitcoin ecosystem, only not from exchanges, but in form of hardware investment.

[johnyj]

If you compare the ask sum with march 2012, the coin supply on the market this year has shrinked at least 75%. And even during the time that market crashed from 200+ to 70, coins for sell were still much less than 2012 (That's before mtgox withdraw problem appeared)

This proved my theory that the coin supply will continuously shrink due to reward halving every four years and conservative spending (e.g. most of the people spend less than 10% of their bitcoin holdings each year)



Actually, the shrink of daily coin supply on mtgox is much deeper than a 10% cash out strategy on my chart. So I can assume that most of the coins were saved and less than 10% of acquired coins are cashed out each year

[superduh]

MtGox fixes their withdrawals, BTC sum skyrockets to 150-200k.

MtGox doesn't fix their withdrawals, sooner or later the BTC will begin hitting Bitstamp.

I think people are delusional to think current Bitcoin supply is anywhere near "normal" levels. Consider for a moment that over 100k BTC are created every month (and we are about 30% quicker), plus miners' marginal profits continue their collapse with about halving every month. They'll have to sell more and more to amortize their newly shipped ASICs, and when we squeeze even more, to cover their electricity costs.

There's no new money flow in truth, only an illiquid primary exchange that is delaying and distorting everything.

why sell for USD to buy more asics when they can just buy the asics with btc

[adamstgBit]

MtGox fixes their withdrawals, BTC sum skyrockets to 150-200k.

MtGox doesn't fix their withdrawals, sooner or later the BTC will begin hitting Bitstamp.

I think people are delusional to think current Bitcoin supply is anywhere near "normal" levels. Consider for a moment that over 100k BTC are created every month (and we are about 30% quicker), plus miners' marginal profits continue their collapse with about halving every month. They'll have to sell more and more to amortize their newly shipped ASICs, and when we squeeze even more, to cover their electricity costs.

There's no new money flow in truth, only an illiquid primary exchange that is delaying and distorting everything.

i think the supply is mostly still there because BTC whales are the ones creating the backlog in withdrawals right now, they know they will eventually see the money ( they probably got 1 -2 withdrawals through since this all started ) ...  and the supply really is getting thinner, and thinner...

[Rampion]

MtGox fixes their withdrawals, BTC sum skyrockets to 150-200k.

MtGox doesn't fix their withdrawals, sooner or later the BTC will begin hitting Bitstamp.

I think people are delusional to think current Bitcoin supply is anywhere near "normal" levels. Consider for a moment that over 100k BTC are created every month (and we are about 30% quicker), plus miners' marginal profits continue their collapse with about halving every month. They'll have to sell more and more to amortize their newly shipped ASICs, and when we squeeze even more, to cover their electricity costs.

There's no new money flow in truth, only an illiquid primary exchange that is delaying and distorting everything.

i think the supply is mostly still there because BTC whales are the ones creating the backlog in withdrawals right now, they know they will eventually see the money ( they probably got 1 -2 withdrawals through since this all started ) ...  and the supply really is getting thinner, and thinner...

The only thing people knows is that Gox is short of $10M, and that withdrawals are heavily delayed. Oh, and that Gox is lying blatantly regarding the reasons of the delays. Its obvious they have liquidity issues, and they are not being transparent about it.

I think Gox is hiding behind its finger, having big problems managing their cash flow while they hope to cover their holes with trading fees... But trading volume is shrinking. If they are estimating future income, they are overestimating it because each week less and less trades happen on Gox.

I really hope they get their shit together. But they are not doing good, and that's why you pay a premium for Gox's BTC - the value of Gox's fiat is shrinking, little by little.

[adamstgBit]

MtGox fixes their withdrawals, BTC sum skyrockets to 150-200k.

MtGox doesn't fix their withdrawals, sooner or later the BTC will begin hitting Bitstamp.

I think people are delusional to think current Bitcoin supply is anywhere near "normal" levels. Consider for a moment that over 100k BTC are created every month (and we are about 30% quicker), plus miners' marginal profits continue their collapse with about halving every month. They'll have to sell more and more to amortize their newly shipped ASICs, and when we squeeze even more, to cover their electricity costs.

There's no new money flow in truth, only an illiquid primary exchange that is delaying and distorting everything.

i think the supply is mostly still there because BTC whales are the ones creating the backlog in withdrawals right now, they know they will eventually see the money ( they probably got 1 -2 withdrawals through since this all started ) ...  and the supply really is getting thinner, and thinner...

The only thing people knows is that Gox is short of $10M, and that withdrawals are heavily delayed. Oh, and that Gox is lying blatantly regarding the reasons of the delays. Its obvious they have liquidity issues, and they are not being transparent about it.

I think Gox is hiding behind its finger, having big problems managing their cash flow while they hope to cover their holes with trading fees... But trading volume is shrinking. If they are estimating future income, they are overestimating it because each week less and less trades happen on Gox.

I really hope they get their shit together. But they are not doing good, and that's why you pay a premium for Gox's BTC - the value of Gox's fiat is shrinking, little by little.

how much BTC / $ did they make during the bubble?

i think even if they get less market share they might still need to hire more people 40% of an ever growing pie is good money

[phelix]

MtGox fixes their withdrawals, BTC sum skyrockets to 150-200k.

MtGox doesn't fix their withdrawals, sooner or later the BTC will begin hitting Bitstamp.

I think people are delusional to think current Bitcoin supply is anywhere near "normal" levels. Consider for a moment that over 100k BTC are created every month (and we are about 30% quicker), plus miners' marginal profits continue their collapse with about halving every month. They'll have to sell more and more to amortize their newly shipped ASICs, and when we squeeze even more, to cover their electricity costs.

There's no new money flow in truth, only an illiquid primary exchange that is delaying and distorting everything.

On the other hand side it is pretty clear now that it will be difficult to make a profit by ordering ASICs today. This means most of the new money is flowing directly into BTC and only little is flowing into hardware.