Best TA ever!

[deathcode]

Buy bitch!
there are no signs of bitcoin slowing down

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[🏰 TradeFortress 🏰]

Like this?

[BitPirate]

[tutkarz]

Like this?

Except how many more people know about bitcoin, use it and want to have it than in 2011?

[Crazy]

I think people in the Bitcoin community tend to lose perspective on reality. If you were to poll any significant amount of individuals, I would generously guess 15% have heard of Bitcoin, 10% sort of understand it, 2% understand it, and <0.5% own any (these are all out of my ass and probably overly optimistic).

What has fundamentally changed to support current valuation? Wordpress, Namecheap, (and some other marginally mainstream services) accept bitcoins? Some new budding technology?

I'm legitimately curious, not trying to be an asshole.

[Gabi]

Thousands of new accounts at mt gox? More than 2 millions $ of transactions for BitPay in March?

[oakpacific]

I think people in the Bitcoin community tend to lose perspective on reality. If you were to poll any significant amount of individuals, I would generously guess 15% have heard of Bitcoin, 10% sort of understand it, 2% understand it, and <0.5% own any (these are all out of my ass and probably overly optimistic).

What has fundamentally changed to support current valuation? Wordpress, Namecheap, (and some other marginally mainstream services) accept bitcoins? Some new budding technology?

I'm legitimately curious, not trying to be an asshole.

Desperation.
http://stats.grok.se/en/latest90/bitcoin  https://bitcointalk.org/index.php?topic=158924.0

I find it hard to believe also, but this sort of correlation with the Cypriot fuckup is hard to deny.

[BitPirate]

I think people in the Bitcoin community tend to lose perspective on reality. If you were to poll any significant amount of individuals, I would generously guess 15% have heard of Bitcoin, 10% sort of understand it, 2% understand it, and <0.5% own any (these are all out of my ass and probably overly optimistic).

What has fundamentally changed to support current valuation? Wordpress, Namecheap, (and some other marginally mainstream services) accept bitcoins? Some new budding technology?

I'm legitimately curious, not trying to be an asshole.

Agree on the reality part, but all indicators point towards an exponential increase in the number of users. THOSE are the fundamentals.

[Crazy]

Agree on the reality part, but all indicators point towards an exponential increase in the number of users. THOSE are the fundamentals.

Where can I see these indicators? Particularly those new users that actually have converted to getting skin in the game and aren't just having a curious reaction to current media coverage.

[BitPirate]

Agree on the reality part, but all indicators point towards an exponential increase in the number of users. THOSE are the fundamentals.

Where can I see these indicators? Particularly those new users that actually have converted to getting skin in the game and aren't just having a curious reaction to current media coverage.

All over this forum. Search for # of My Wallet users (blockchain info), Queue at Mt Gox, app downloads.  I've also posted a chart (from blockchain.info) showing speculation as a % of usage.

All signs do point towards a new rash of users.

[Crazy]

I'll do more research, but I heard about the ranking of app downloads and that shouldn't be an indicator, in my opinion. I've downloaded a ton of things that I ultimately found useless.

It would just be useful to see these metrics aggregated. If I was in a position to do that I would, but the fact that it isn't leads me to believe this is a speculative move because I doubt it's based on said metrics. Just my opinion.

[BitPirate]

I'll do more research, but I heard about the ranking of app downloads and that shouldn't be an indicator, in my opinion. I've downloaded a ton of things that I ultimately found useless.

It would just be useful to see these metrics aggregated. If I was in a position to do that I would, but the fact that it isn't leads me to believe this is a speculative move because I doubt it's based on said metrics. Just my opinion.

Yes, but the overall number of downloads is increasing. One would expect the % of browsers to users to remain constant -- at least, that is a reasonable assumption (since any FA is going to be very back-of-the-envelope, it makes sense to keep assumptions as simple as possible).

[Zangelbert Bingledack]

http://stattit.com/r/bitcoin/

[josiahgarber]

I think people in the Bitcoin community tend to lose perspective on reality. If you were to poll any significant amount of individuals, I would generously guess 15% have heard of Bitcoin, 10% sort of understand it, 2% understand it, and <0.5% own any (these are all out of my ass and probably overly optimistic).

What has fundamentally changed to support current valuation? Wordpress, Namecheap, (and some other marginally mainstream services) accept bitcoins? Some new budding technology?

I'm legitimately curious, not trying to be an asshole.

I think what's driving the market is that "<0.5% own any"  Many people are identifying an investment with an upside higher than any other investment they have seen in there lifetime.  Is there risk, yes.  But the upside is why people are investing/speculating.

[deathcode]

Agree on the reality part, but all indicators point towards an exponential increase in the number of users. THOSE are the fundamentals.

Where can I see these indicators? Particularly those new users that actually have converted to getting skin in the game and aren't just having a curious reaction to current media coverage.

Right now there are 5500 accounts waiting to be validated in mtgox. Lets just be extremely conservative an lets say each of those accounts will invest $200...
That's 1,000,000 in new money to a 900,000,000 market...not too shabby... And I honestly believe there are at eat two hedge funds in those 5500 accounts with at least 100,000 - 500,000 each to invest in bitcoin and I'm still being cautious...
Do your math.

[epetroel]

Like this?

Ahh yes, the double wizard hat, a very bullish signal.

[Manticore]

Agree on the reality part, but all indicators point towards an exponential increase in the number of users. THOSE are the fundamentals.

Where can I see these indicators? Particularly those new users that actually have converted to getting skin in the game and aren't just having a curious reaction to current media coverage.

Right now there are 5500 accounts waiting to be validated in mtgox. Lets just be extremely conservative an lets say each of those accounts will invest $200...
That's 1,000,000 in new money to a 900,000,000 market...not too shabby... And I honestly believe there are at eat two hedge funds in those 5500 accounts with at least 100,000 - 500,000 each to invest in bitcoin and I'm still being cautious...
Do your math.

5500 new account = $1,000,000 - $2,000,000 inflow to a $900,000,000 market is 'not too shabby'? I disagree. Too shabby.

[foggyb]

5500 new account = $1,000,000 - $2,000,000 inflow to a $900,000,000 market is 'not too shabby'? I disagree. Too shabby.

....so many markets with 1% monthly growth, right?  

[Bitobsessed]

This is what I have been using.



White/Green = BUY!
Black/Red = SELL!
BULLSEYE = HOLD!

Keep hitting bullseyes though...even when I close my eyes.

[Crazy]

It's conservative to assume 5500 will each invest $200? How are you coming to this conclusion?

And what does reddit readership rates have to do with the value of bitcoin? If practically no one accepts it except a niche community and a small handful of semi-mainstream entities, what has changed to command this new value? There are very few things I look at to determine value, and someone subscribing to news & info about something isn't indicative of value, it's indicative of entertainment value and interest. Show me inflows of capital that aren't speculative and I'll buy into the notion that new users are seeing value. But it would have to be quite a lot to command a ~500% increase in less than 3 months, wouldn't you agree?

5500 new account = $1,000,000 - $2,000,000 inflow to a $900,000,000 market is 'not too shabby'? I disagree. Too shabby.

....so many markets with 1% monthly growth, right?  

Wouldn't that be .1%?