We are down to 44,000-56,000 accessible bitcoins on the Mt.Gox USD market.

[The Fool]

How low can we go in regards to supply? Can somebody pull up that ask/bid chart again? I don't know where to find it.

[The Fool]

How low can we go in regards to supply? Can somebody pull up that ask/bid chart again? I don't know where to find it.

http://www.bitcoinx.com/charts1/depth_mtgox.png

This is only the visible supply. It can change in an instant (or 6 confirmations?), so I wouldn't let it influence you that much.

However, there is a price correlation with the USD supply.

[chmod755]

This is only the visible supply. It can change in an instant (or 6 confirmations?), so I wouldn't let it influence you that much.

+1. Also: A sane person wouldn't buy 100k BTC at once...

[genuise]

try bitcoin-analytics.com  top chart exactly for orderbook volume

[xcsler]

What is the meaning and significance "days destroyed".
Thanks.

[byronbb]

So about $77 to every 1 btc on the order books....

[Spekulatius]

Ill just leave that here:



http://blockchained.com/

[Qoheleth]

What is the meaning and significance "days destroyed".
Thanks.

It's not bitcoin days-destroyed, it's bitcoin-days destroyed. Bitcoin-days is like a man-hour or a kilowatt-hour - it's a unit that measures the extent to which bitcoins are sitting in wallets without circulating. For instance, if 1BTC has remained in the same wallet for 100 days, that's 100 bitcoin-days, and sending that 1BTC to a new address after such a long time would "destroy" 100 bitcoin-days (because they transform into 1BTC that has stood still for 0 days = 0 bitcoin-days). 100BTC that were last moved 1 day ago would be the same.

Thus, "Bitcoin-Days destroyed" is a metric of how much BTC is moving in the economy - especially BTC that is once again moving after having remained in storage for a long time.

[Spaceman_Spiff]

Ill just leave that here:



http://blockchained.com/

Do you know if the same or similar information is available for earlier time periods?

[byronbb]

Ill just leave that here:



http://blockchained.com/

Do you know if the same or similar information is available for earlier time periods?

I don't think so. However if the data is available from gox then it is obviously within reach.

[xcsler]

What is the meaning and significance "days destroyed".
Thanks.

It's not bitcoin days-destroyed, it's bitcoin-days destroyed. Bitcoin-days is like a man-hour or a kilowatt-hour - it's a unit that measures the extent to which bitcoins are sitting in wallets without circulating. For instance, if 1BTC has remained in the same wallet for 100 days, that's 100 bitcoin-days, and sending that 1BTC to a new address after such a long time would "destroy" 100 bitcoin-days (because they transform into 1BTC that has stood still for 0 days = 0 bitcoin-days). 100BTC that were last moved 1 day ago would be the same.

Thus, "Bitcoin-Days destroyed" is a metric of how much BTC is moving in the economy - especially BTC that is once again moving after having remained in storage for a long time.

So it's a measure of velocity of BTC.
Thanks.

[kokojie]

What is the meaning and significance "days destroyed".
Thanks.

It's not bitcoin days-destroyed, it's bitcoin-days destroyed. Bitcoin-days is like a man-hour or a kilowatt-hour - it's a unit that measures the extent to which bitcoins are sitting in wallets without circulating. For instance, if 1BTC has remained in the same wallet for 100 days, that's 100 bitcoin-days, and sending that 1BTC to a new address after such a long time would "destroy" 100 bitcoin-days (because they transform into 1BTC that has stood still for 0 days = 0 bitcoin-days). 100BTC that were last moved 1 day ago would be the same.

Thus, "Bitcoin-Days destroyed" is a metric of how much BTC is moving in the economy - especially BTC that is once again moving after having remained in storage for a long time.

So it's a measure of velocity of BTC.
Thanks.

No it means old coins that hasn't moved for a long time, is moving now, I think mostly likely they are moving to sell.

[twolifeinexile]

What is the meaning and significance "days destroyed".
Thanks.

It's not bitcoin days-destroyed, it's bitcoin-days destroyed. Bitcoin-days is like a man-hour or a kilowatt-hour - it's a unit that measures the extent to which bitcoins are sitting in wallets without circulating. For instance, if 1BTC has remained in the same wallet for 100 days, that's 100 bitcoin-days, and sending that 1BTC to a new address after such a long time would "destroy" 100 bitcoin-days (because they transform into 1BTC that has stood still for 0 days = 0 bitcoin-days). 100BTC that were last moved 1 day ago would be the same.

Thus, "Bitcoin-Days destroyed" is a metric of how much BTC is moving in the economy - especially BTC that is once again moving after having remained in storage for a long time.

So it's a measure of velocity of BTC.
Thanks.

No it means old coins that hasn't moved for a long time, is moving now, I think mostly likely they are moving to sell.

Just moved coin that moved again would generate a smaller bitcoin-days destroyed. So it is not a velocity per se, more like the measuring the stickyness, how much capital is moving to the total capital

[The-Real-Link]

So it looks like from those charts that the bids are at a relative all-time high?  IE, the demand FOR coin is huge?

[Gatekeeper]

the 3rd graph certainly looks powerful to me, thanks for sharing

[Spaceman_Spiff]

So it looks like from those charts that the bids are at a relative all-time high?  IE, the demand FOR coin is huge?

Yes, indeed, which makes sense with the record high market cap.  I would add a word of caution though when comparing the levels of bid vs ask in these charts that the bid y-axis is denominated in USD, while the ask is denominated in BTC.

[The-Real-Link]

So it looks like from those charts that the bids are at a relative all-time high?  IE, the demand FOR coin is huge?

Yes, indeed, which makes sense with the record high market cap.  I would add a word of caution though when comparing the levels of bid vs ask in these charts that the bid y-axis is denominated in USD, while the ask is denominated in BTC.

Ah, a good distinction, didn't see that, thanks.  But still, the first tick there is 1,000 KUSD so $1M which equates to 50K coins.  So not sure when those charts were made but that's still equating value to $20 a coin.  Sure it'd be a bit different at $30 per but if the overall trend is accurate, that's great!  Charts do appear pretty current, though.

[n8rwJeTt8TrrLKPa55eU]

Ill just leave that here:



http://blockchained.com/

Very nice big-picture resources.  Thank you.

Clearly a bullish trend unless those charts start going sideways or reversing.