wtf is going on?!

[Wevariant]

People are probably reinvesting the profits they made with going short on the ETH value. So they gain even
more Bitcoins. They sold at a high price, bought cheap ETH, sold them when they saw a collaps coming and
now the re-buy Bitcoins at a lower price 

Problem with that non-theory is that people invest into ETH via BTC. People then cash out of ETH, via BTC. If anything, people gonna want to take cash profits from ETH, which means that they cash out through BTC.

But the Ethereum/BTC volume is too small to affect the bitcoin price. The recent bitcoin price is affected by the block size issue.

I don't even think that's the best way to make any money. It's like gambling. What if you bought BTC thinking it's going to go up then it goes down?

it does mean that ETH's value still depend on BTC just like the rest of the alt coins.

if btc goes down then theres nothing left to do but wonder and wait till it goes up again 

I do not think the Ethereum price is dependent on the bitcoin price. The Ethereum price has risen 10 times against bitcoin recently.

[1714186384]

1714186384

[Gasotard]

People are probably reinvesting the profits they made with going short on the ETH value. So they gain even
more Bitcoins. They sold at a high price, bought cheap ETH, sold them when they saw a collaps coming and
now the re-buy Bitcoins at a lower price 

Problem with that non-theory is that people invest into ETH via BTC. People then cash out of ETH, via BTC. If anything, people gonna want to take cash profits from ETH, which means that they cash out through BTC.

But the Ethereum/BTC volume is too small to affect the bitcoin price. The recent bitcoin price is affected by the block size issue.

I don't even think that's the best way to make any money. It's like gambling. What if you bought BTC thinking it's going to go up then it goes down?

it does mean that ETH's value still depend on BTC just like the rest of the alt coins.

if btc goes down then theres nothing left to do but wonder and wait till it goes up again 

I do not think the Ethereum price is dependent on the bitcoin price. The Ethereum price has risen 10 times against bitcoin recently.

But the Ethereum price is going down now. Maybe the pump has just finished and it is being dumped.

[lissandra]

People are probably reinvesting the profits they made with going short on the ETH value. So they gain even
more Bitcoins. They sold at a high price, bought cheap ETH, sold them when they saw a collaps coming and
now the re-buy Bitcoins at a lower price 

Problem with that non-theory is that people invest into ETH via BTC. People then cash out of ETH, via BTC. If anything, people gonna want to take cash profits from ETH, which means that they cash out through BTC.

But the Ethereum/BTC volume is too small to affect the bitcoin price. The recent bitcoin price is affected by the block size issue.

I don't even think that's the best way to make any money. It's like gambling. What if you bought BTC thinking it's going to go up then it goes down?

it does mean that ETH's value still depend on BTC just like the rest of the alt coins.

if btc goes down then theres nothing left to do but wonder and wait till it goes up again 

I do not think the Ethereum price is dependent on the bitcoin price. The Ethereum price has risen 10 times against bitcoin recently.

Okay, then what does it rely on then?

Does ETH have some demand because some major site uses it and thats what it requires? please educate me what a alt coin relies on if its not bitcoins price.

if theres no pillars to support a price, its most likely a bubble.

[Yanisumin]

People are probably reinvesting the profits they made with going short on the ETH value. So they gain even
more Bitcoins. They sold at a high price, bought cheap ETH, sold them when they saw a collaps coming and
now the re-buy Bitcoins at a lower price 

Problem with that non-theory is that people invest into ETH via BTC. People then cash out of ETH, via BTC. If anything, people gonna want to take cash profits from ETH, which means that they cash out through BTC.

But the Ethereum/BTC volume is too small to affect the bitcoin price. The recent bitcoin price is affected by the block size issue.

I don't even think that's the best way to make any money. It's like gambling. What if you bought BTC thinking it's going to go up then it goes down?

it does mean that ETH's value still depend on BTC just like the rest of the alt coins.

if btc goes down then theres nothing left to do but wonder and wait till it goes up again 

I do not think the Ethereum price is dependent on the bitcoin price. The Ethereum price has risen 10 times against bitcoin recently.

Okay, then what does it rely on then?

Does ETH have some demand because some major site uses it and thats what it requires? please educate me what a alt coin relies on if its not bitcoins price.

if theres no pillars to support a price, its most likely a bubble.

There are some shops accepting the bitcoin. I have used the bitcoin to buy computers and pay phone bills.

[Gasotard]

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

[Amph]

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

[Wevariant]

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

[richardsNY]

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

There is no way to find out how many users Bitcoin really has. 500K is a bit on the lower side. My guess is somewhere around 1000K.

[talks_cheep]

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

There is no way to find out how many users Bitcoin really has. 500K is a bit on the lower side. My guess is somewhere around 1000K.

"Active" users number around 250K.

[cluit]

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

There is no way to find out how many users Bitcoin really has. 500K is a bit on the lower side. My guess is somewhere around 1000K.

"Active" users number around 250K.

Do you have any proof for that? Maybe an article or statistics. It's easy to say "there are 1mil active users" "no there are 500k" "active users are around 250k" with scant information.

[Sandroxa]

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

Bitcoin is getting more worth and that is perfect for the people that is already using Bitcoin because than they can make maybe more profit in the future.
And that would be perfect for them if that is possible for them.

[randy8777]

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

There is no way to find out how many users Bitcoin really has. 500K is a bit on the lower side. My guess is somewhere around 1000K.

"Active" users number around 250K.

i know there is a significant difference between users in total and active users as you also mentioned. what number of users do you consider the "non active" users to be?

[Amph]

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

it was estimated long time ago based on the number transaction, it's still an estimate, but it appear to be near 3M, 0.5 is very low it can be that low with 200k transaction going on each day

[richardsNY]

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

There is no way to find out how many users Bitcoin really has. 500K is a bit on the lower side. My guess is somewhere around 1000K.

"Active" users number around 250K.

As I said before, there is really no way to find out how many users there are. That's why I'm interested in finding out how you came to that what I consider to be a low number.

[Gasotard]

The Steam has accepted the bitcoin now. If 1% of the steam members are converted, that is a big boost.

1% would only mean 1M users, who would use bitcoin regularly, if we assume the same proportion, this mean only 25% increase in global value versus the current 3M users base

so they could bring the price to 600

I thought there are only 0.5 million active bitcoin users. Where did you get that 3 million user figure?

There is no way to find out how many users Bitcoin really has. 500K is a bit on the lower side. My guess is somewhere around 1000K.

"Active" users number around 250K.

As I said before, there is really no way to find out how many users there are. That's why I'm interested in finding out how you came to that what I consider to be a low number.

So we have the use the number of transactions. We need to exclude the low value transactions.