The Fool (OP)
Newbie
Offline
Activity: 56
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 22, 2013, 05:48:07 PM |
|
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 (OP)
Newbie
Offline
Activity: 56
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 22, 2013, 05:58:59 PM |
|
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.pngThis 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
Legendary
Offline
Activity: 1512
Merit: 1021
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 22, 2013, 06:01:54 PM |
|
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...
|
|
|
|
|
xcsler
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 22, 2013, 10:08:39 PM |
|
What is the meaning and significance "days destroyed". Thanks.
|
|
|
|
byronbb
Legendary
Offline
Activity: 1414
Merit: 1000
HODL OR DIE
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 23, 2013, 12:26:19 AM |
|
So about $77 to every 1 btc on the order books....
|
|
|
|
|
Qoheleth
Legendary
Offline
Activity: 960
Merit: 1028
Spurn wild goose chases. Seek that which endures.
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 23, 2013, 12:36:48 AM |
|
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.
|
If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
|
|
|
Spaceman_Spiff
Legendary
Offline
Activity: 1638
Merit: 1001
₪``Campaign Manager´´₪
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 23, 2013, 12:52:38 AM |
|
Do you know if the same or similar information is available for earlier time periods?
|
|
|
|
byronbb
Legendary
Offline
Activity: 1414
Merit: 1000
HODL OR DIE
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 23, 2013, 12:55:31 AM |
|
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
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 23, 2013, 02:08:09 PM |
|
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
Legendary
Offline
Activity: 1806
Merit: 1003
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 23, 2013, 03:39:33 PM |
|
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.
|
btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
|
|
|
twolifeinexile
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 23, 2013, 10:54:32 PM |
|
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
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 24, 2013, 12:08:55 AM |
|
So it looks like from those charts that the bids are at a relative all-time high? IE, the demand FOR coin is huge?
|
Oh Loaded, who art up in Mt. Gox, hallowed be thy name! Thy dollars rain, thy will be done, on BTCUSD. Give us this day our daily 10% 30%, and forgive the bears, as we have bought their bitcoins. And lead us into quadruple digits
|
|
|
Gatekeeper
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 24, 2013, 01:10:16 AM |
|
the 3rd graph certainly looks powerful to me, thanks for sharing
|
(1470) <KLYE> But I was far too drunk to fuck a midget (1470) <KLYE> I will fuck a chicken for 250 btc
|
|
|
Spaceman_Spiff
Legendary
Offline
Activity: 1638
Merit: 1001
₪``Campaign Manager´´₪
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 24, 2013, 04:08:26 AM |
|
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
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 24, 2013, 09:29:09 AM |
|
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.
|
Oh Loaded, who art up in Mt. Gox, hallowed be thy name! Thy dollars rain, thy will be done, on BTCUSD. Give us this day our daily 10% 30%, and forgive the bears, as we have bought their bitcoins. And lead us into quadruple digits
|
|
|
n8rwJeTt8TrrLKPa55eU
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
February 24, 2013, 06:13:47 PM |
|
Very nice big-picture resources. Thank you. Clearly a bullish trend unless those charts start going sideways or reversing.
|
|
|
|
|