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Author Topic: Why $17? Because this is happening...  (Read 8973 times)
twolifeinexile
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January 23, 2013, 09:52:27 PM
 #21

Maybe someone knows that something is going to happen, and that there are not many places to hide:

More than $114 billion walked out of the biggest United States banks this month, and nobody’s quite sure why.
http://www.businessweek.com/articles/2013-01-23/missing-114-billion-from-u-dot-s-dot-banks

Dollar is a closed system, it will circulate back, all dollars are either Federal Reserve Credit or Bank Credit, there is no way it gets out. (Unless, cash, but 114 bn cash?)
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January 23, 2013, 10:07:31 PM
 #22

Since early January, about 10'000 BTC have been melting away every day from the walls on the selling side. Maybe someone wants to get 210'000 BTC, thus owning 1% of all Bitcoins that will ever be created. Would certainly be a nice number. If that's the case, the rally is over now (about 21 days have passed). However, if it continues, we will see 1 BTC = $20 by the end of the week.
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January 23, 2013, 10:11:36 PM
 #23

Could it be that the reward dropped?
Rob E
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January 23, 2013, 10:15:33 PM
 #24

I think it has got fuk all to do with that unless you can show me how many websites have taken on bit coin payment in the last few months. I think it has more to do with the currency wars being waged a the moment and becoming now known in main stream media news. people looking for other safe havens "currencies" to invest in. Fiat currency values is gonna go to shit. . And people wanna get the fuck out. The insane amount of printing is gonna make fiat currencies reall fucken worhless reall soon or at least undergo a huge fucken devaluation.
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January 24, 2013, 12:57:44 AM
 #25

Could it be bASIC buying up coins to issue "thousands of refunds?"

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January 24, 2013, 01:06:38 AM
 #26

I think its because there has been a steady price rise, and hasn't been a major price crash in a while....people are trying to jump in before the bubble pops.

I'm betting we will continue to see the price soar, followed by a major crash sometime this year.  


 
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January 24, 2013, 01:07:59 AM
 #27


what is the key word do you set in the Google Alert, just "bitcoin" or something more?

16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
Jutarul
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January 24, 2013, 02:31:59 AM
 #28

I think its because there has been a steady price rise, and hasn't been a major price crash in a while....people are trying to jump in before the bubble pops.

I'm betting we will continue to see the price soar, followed by a major crash sometime this year.  

The more merchants accept bitcoin, the more "money" stays within the BTC system. So it seems that this rise may be sustainable. On the other hand a 50% price increase within a month cries out for a correction.

I doubt that the number of merchants accepting bitcoins increased proportionally with the price of bitcoin. I'd be interested in a #BTCmerchants/#BTCprice ratio graph over time. But that would require someone to measure #BTCmerchants accurately.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
constitution
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January 24, 2013, 03:06:41 AM
 #29

The Bitcoin revolution is coming! Halayluya! (however you spell it  Cheesy)

Droid!
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January 24, 2013, 03:09:13 AM
 #30

I think its because there has been a steady price rise, and hasn't been a major price crash in a while....people are trying to jump in before the bubble pops.

I'm betting we will continue to see the price soar, followed by a major crash sometime this year.  

The more merchants accept bitcoin, the more "money" stays within the BTC system. So it seems that this rise may be sustainable. On the other hand a 50% price increase within a month cries out for a correction.

I doubt that the number of merchants accepting bitcoins increased proportionally with the price of bitcoin. I'd be interested in a #BTCmerchants/#BTCprice ratio graph over time. But that would require someone to measure #BTCmerchants accurately.
Why would it cry for a correction.
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January 24, 2013, 03:49:35 AM
 #31

Viva la revolution!

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jl2012
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January 24, 2013, 03:58:41 AM
 #32


Sorry for my ignorant. How big is this company?

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Jutarul
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January 24, 2013, 04:03:31 AM
 #33

I think its because there has been a steady price rise, and hasn't been a major price crash in a while....people are trying to jump in before the bubble pops.

I'm betting we will continue to see the price soar, followed by a major crash sometime this year.  

The more merchants accept bitcoin, the more "money" stays within the BTC system. So it seems that this rise may be sustainable. On the other hand a 50% price increase within a month cries out for a correction.

I doubt that the number of merchants accepting bitcoins increased proportionally with the price of bitcoin. I'd be interested in a #BTCmerchants/#BTCprice ratio graph over time. But that would require someone to measure #BTCmerchants accurately.
Why would it cry for a correction.

An upward move has to be sustained by a rise of perceived total value:
totalvalue = #people * averagevalue

Now this may be my opinion, but a 50% increase in perceived average value is significant. Unless there is a big investor sucking the coins from the market, and hence increasing the perceived average value, its rather the #people figure which makes the difference. And increases due to #people are subject to a correction due to inflation, because an increased amount of coins covers the same wealth, crippling the average value.

As long as we don't understand what causes these increases your guess is as good as mine. I wouldn't be surprised if it soars above $20 and then stays there for 4 months, before it makes another jump.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
MPOE-PR
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January 24, 2013, 10:40:22 AM
 #34

Actually this may have something to do with it :



Bitcoin is being driven by financials not by retail, I say.

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
greyhawk
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January 24, 2013, 10:51:28 AM
 #35


It's listed as "1-10 employees" on LinkedIn. So yeah, Mom and Pop shop.
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January 24, 2013, 11:48:40 AM
 #36

I think that the point was not that this particular company is especially significant but that we see this happening pretty much every day. Ever since WordPress hopped on board, the rate of new Bitcoin accepting merchants and organizations accepting Bitcoin donations has increased significantly.

Prasos operates Denarium, Coinmotion and Bittiraha.fi. We have an equity offering now live! Check our pitch and invest at Invesdor.
Grouver (BtcBalance)
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January 24, 2013, 11:55:55 AM
 #37

The company i work for first want to see numbers before we can offer bitcoin as an payment method.
I want to know how many people use bitcoin and the number of shops that already accept it in the netherlands, germany and belgium and the rest of the EU.
If i can get concrete numbers for each country for the company, something big will happen, promise. Smiley


nobbynobbynoob
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January 24, 2013, 12:05:10 PM
 #38

Belgium: I know of one B&M bitcoin merchant: the Luna Luna B&B in Mechelen. Of course, they invoice the clients officially in eubles but accept payment in BTC. They are fine, upstanding, honest citizens and wouldn't dream of ever doing business off the books, I'm sure. Wink

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Akka
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January 24, 2013, 12:16:09 PM
 #39

The company i work for first want to see numbers before we can offer bitcoin as an payment method.
I want to know how many people use bitcoin in the netherlands, germany and belgium and the rest of the EU.
If i can get concrete numbers for the company, something big will happen, promise. Smiley

The best numbers indicators I know of are these:

http://www.openheatmap.com/view.html?map=BibbonsGomphotheriidaeJewely

Full nodes per 100.000 internet users.

Now Blockchain currently lists 6000 Nodes seen in the last 48 hours and has currently ~90.000 online Wallets.

So 15 Online Wallets per full node.

60 Mil People with internet access in Germany

~14400 Bicoiners in Germany.

These Numbers are of curse completely wrong. I made all Numbers except the 6000 Full nodes up. And didn't include any factors for all other clients, or dead Blockchain wallets.

All previous versions of currency will no longer be supported as of this update
Grouver (BtcBalance)
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January 24, 2013, 12:32:56 PM
 #40

The company i work for first want to see numbers before we can offer bitcoin as an payment method.
I want to know how many people use bitcoin in the netherlands, germany and belgium and the rest of the EU.
If i can get concrete numbers for the company, something big will happen, promise. Smiley

The best numbers indicators I know of are these:

http://www.openheatmap.com/view.html?map=BibbonsGomphotheriidaeJewely

Full nodes per 100.000 internet users.

Now Blockchain currently lists 6000 Nodes seen in the last 48 hours and has currently ~90.000 online Wallets.

So 15 Online Wallets per full node.

60 Mil People with internet access in Germany

~14400 Bicoiners in Germany.

These Numbers are of curse completely wrong. I made all Numbers except the 6000 Full nodes up. And didn't include any factors for all other clients, or dead Blockchain wallets.
Thanks. I already created a thread for this a while ago.
So if you would like to help us out.
There is a bounty waiting by the way.
https://bitcointalk.org/index.php?topic=127067

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