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Author Topic: so mt.gox volume is at 12.8k at the moment  (Read 2101 times)
notig
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March 03, 2013, 03:49:14 AM
 #1

The counter isn't reset right? it's just a past 24 hour average?

is the volume meaningful to anyone?
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DeathAndTaxes
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March 03, 2013, 03:54:58 AM
 #2

It is very low.  Then again weekends are always low but this is low for a low weekend.
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March 03, 2013, 04:00:23 AM
 #3

I know it's a cliché but the first thing that springs to mind is "calm before the storm". It'll change dramatically after the weekend no doubt.

Edit: And this guy has been uncannily accurate....

Its been a good week. More excitement to come soon.

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March 03, 2013, 04:21:32 AM
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How I miss the days before the rally when the price could stay stable for months, those were calm, good days....

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March 03, 2013, 04:27:08 AM
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How I miss the days before the rally when the price could stay stable for months, those were calm, good days....

Never knew those days. Acquired my first bitcoins a couple of weeks before the Pirate Pump 'n' Dump. Volatility is the norm from all I've seen  Smiley

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oakpacific
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March 03, 2013, 04:33:03 AM
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How I miss the days before the rally when the price could stay stable for months, those were calm, good days....

Never knew those days. Acquired my first bitcoins a couple of weeks before the Pirate Pump 'n' Dump. Volatility is the norm from all I've seen  Smiley

I wish all people were like you. And that's why I want the price to at least climb a bit more, to more than $40, before it takes a nap. Lots and lots of people are putting too much weight on the 2011 high of $32, they use it as a reference point to judge if the price is too high, if the market will get more volatile or not, etc, If we stay here for too long, they may not just be able to get rid of that piece of disaster memory, while over a long time, this particular price point should be considered meaningless and be forgotten.

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March 03, 2013, 04:41:07 AM
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How I miss the days before the rally when the price could stay stable for months, those were calm, good days....

Never knew those days. Acquired my first bitcoins a couple of weeks before the Pirate Pump 'n' Dump. Volatility is the norm from all I've seen  Smiley

I wish all people were like you. And that's why I want the price to at least climb a bit more, to more than $40, before it takes a nap. Lots and lots of people are putting too much weight on the 2011 high of $32, they use it as a reference point to judge if the price is too high, if the market will get more volatile or not, etc, If we stay here for too long, they may not just be able to get rid of that piece of disaster memory, while over a long time, this particular price point should be considered meaningless and be forgotten.

I tend to agree. $32 just happened to be where that over excited speculative bubble topped. I think we can all agree, that $32 at that time was overvalued. Of course, we all saw the correction. This time, now at the same price levels and two years later I'm not so fast to call it overvalued. It may still be, it may not be. We got to this price over a longer period and with higher volume, so I think the price discovery mechanics at work here are far closer to genuine than before. At the very least, if we are significantly overvalued again this time, the correction I would think does not drop as far. Panic and fear can easily change that, but fundamentally I think we are on much more solid footing and there is a stronger rational for these prices.
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March 03, 2013, 11:10:01 AM
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How I miss the days before the rally when the price could stay stable for months, those were calm, good days....

Never knew those days. Acquired my first bitcoins a couple of weeks before the Pirate Pump 'n' Dump. Volatility is the norm from all I've seen  Smiley
I acquired my first bitcoins through mining back in 2010. I wasn't really involved or active in bitcoin at that time until now, but it's impressive that bitcoin has being able to recover from it's all time high and far exceed that, while all the critics were calling bitcoin a scam or worthless.

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nwbitcoin
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March 03, 2013, 11:29:56 AM
 #9

But this time, its different!

Those words haunt thousands of people who just couldn't see a bubble that was right in front of their faces!

The volume of bitcoin transactions is exceptionally low because EVERYONE is speculating, they are not spending.  This can only end badly! ;(

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poly
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March 03, 2013, 11:31:34 AM
 #10

But this time, its different!

Those words haunt thousands of people who just couldn't see a bubble that was right in front of their faces!

The volume of bitcoin transactions is exceptionally low because EVERYONE is speculating, they are not spending.  This can only end badly! ;(

Please stop making up assumptions that can't be proven. A lot of people are spending their bitcoins, but it's not a good idea to look at it on a weekend.

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nwbitcoin
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March 03, 2013, 11:42:29 AM
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But this time, its different!

Those words haunt thousands of people who just couldn't see a bubble that was right in front of their faces!

The volume of bitcoin transactions is exceptionally low because EVERYONE is speculating, they are not spending.  This can only end badly! ;(

Please stop making up assumptions that can't be proven. A lot of people are spending their bitcoins, but it's not a good idea to look at it on a weekend.

I am assuming on based on my own experience.

If I buy something using bitcoin, at current exchange rates, between the time I buy it and it being delivered, the item is going to become more expensive compared to buying it in my local currency.
Hence, it makes no sense to buy using Bitcoin if I have the choice!

That is a speculation dilemma in a nutshell

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Gatekeeper
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March 03, 2013, 01:57:10 PM
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what a load of nonsense ^^

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March 03, 2013, 03:10:09 PM
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We're going to be battling deflation myths all the way up, may as well get used to it.
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March 03, 2013, 04:39:50 PM
 #14

But this time, its different!

Those words haunt thousands of people who just couldn't see a bubble that was right in front of their faces!

The volume of bitcoin transactions is exceptionally low because EVERYONE is speculating, they are not spending.  This can only end badly! ;(

Please stop making up assumptions that can't be proven. A lot of people are spending their bitcoins, but it's not a good idea to look at it on a weekend.

I am assuming on based on my own experience.

If I buy something using bitcoin, at current exchange rates, between the time I buy it and it being delivered, the item is going to become more expensive compared to buying it in my local currency.
Hence, it makes no sense to buy using Bitcoin if I have the choice!

That is a speculation dilemma in a nutshell


In essence, this is correct. And it is exactly the reason that there is a bias to liquidate inflating fiat and hold deflating bitcoin. Eventually bitcoiners will need to start using them and then they will. But why use them now in the face of a massive global currency war pushing value to the bottom?

Bitcoin is both a way to exchange value AND a store of value. Just because the bias at one time in its life pushes it towards one side of its functionality does not mean that it will always be that way.

Bro, do you even blockchain?
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March 03, 2013, 08:27:07 PM
 #15

People are just storing their gold. They're not buying things with it. Why is gold valued as it is?

People are also just holding stocks that don't produce dividends. Why would you own an asset where the only fundamental value is the theoretical income stream it generates, if there's no income stream?

Rhetorical questions obviously... Especially with bitcoin, the value calculus is not so simple as transaction volume.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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March 03, 2013, 08:34:32 PM
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Not sure how everyone got confused and off topic.  The OP was about EXCHANGE TRADING VOLUME.  It was lower yesterday than normal.
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March 03, 2013, 09:34:50 PM
 #17

If you look at daily candles you can see 3 consecutive bull flags (on after move on feb 14th, one after the move on feb 19th and the current one in progress after the move on feb 28th).



See the volume on feb 16th? Pretty low, right?

Based on this I think it's quite likely we will get a nice jump sometime around wednesday next week, maybe after a pullback on monday. Of course, past performance is no indication.

I doubt we'll go sideways for much longer than 3 more days and volume will also pick up again, likely monday.

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March 03, 2013, 10:34:26 PM
 #18

New all time high before 02 UTC. I feel it in my bad toe.
Third Way
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March 04, 2013, 02:14:49 AM
 #19

I wish I could get a loan so I can buy bitcoins.

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March 04, 2013, 05:23:38 AM
 #20

I wish I could get a loan so I can buy bitcoins.

I've always thought that was a bad idea.

Oh and: isn't "the third way" something about abolishing interest?

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