Bitcoin Forum
November 05, 2024, 06:27:53 AM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Poll
Question: When will BTC get back above $70K:
7/14 - 0 (0%)
7/21 - 1 (0.8%)
7/28 - 11 (9%)
8/4 - 16 (13.1%)
8/11 - 7 (5.7%)
8/18 - 6 (4.9%)
8/25 - 8 (6.6%)
After August - 73 (59.8%)
Total Voters: 122

Pages: « 1 ... 10300 10301 10302 10303 10304 10305 10306 10307 10308 10309 10310 10311 10312 10313 10314 10315 10316 10317 10318 10319 10320 10321 10322 10323 10324 10325 10326 10327 10328 10329 10330 10331 10332 10333 10334 10335 10336 10337 10338 10339 10340 10341 10342 10343 10344 10345 10346 10347 10348 10349 [10350] 10351 10352 10353 10354 10355 10356 10357 10358 10359 10360 10361 10362 10363 10364 10365 10366 10367 10368 10369 10370 10371 10372 10373 10374 10375 10376 10377 10378 10379 10380 10381 10382 10383 10384 10385 10386 10387 10388 10389 10390 10391 10392 10393 10394 10395 10396 10397 10398 10399 10400 ... 33880 »
  Print  
Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26486443 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
macsga
Legendary
*
Offline Offline

Activity: 1484
Merit: 1002


Strange, yet attractive.


View Profile
January 04, 2015, 08:00:54 PM

Lamby you dirty rat, STILL POSTING? Didn't you buy all of them cheap coins by now? Shocked Shocked
JayJuanGee
Legendary
*
Offline Offline

Activity: 3892
Merit: 11126


Self-Custody is a right. Say no to"Non-custodial"


View Profile
January 04, 2015, 08:01:22 PM

Some of the selling coming with spikes in bitcoin days destroyed




What's the source of that bitcoin days destroyed chart? 

rebuilder
Legendary
*
Offline Offline

Activity: 1615
Merit: 1000



View Profile
January 04, 2015, 08:03:39 PM

Serious question:
What's the "fair price" of one bitcoin? and how do you arrive to that conclusion?
Depends on how many people use it and the average dollar value of their purchases.
that was the only approximately legit reply so far

If there was no speculation (including long-term hoarding), only use for e-payments, customers (buyers of stuff or services) would buy BTC just for payments, and give them to merchants (suppliers) or payment processors, who would then sell those BTC to other customers. 

Let V be the total volume of such payments expressed in USD/day.  Let T be the average time in days between the purchase of some BTC by one customer and its re-purchase by another customer, after going through a merchant or processor.   Let N be the total number of coins available, and P the market price of one BTC.  Then, the total volume of payments, in BTC/day, is  N / T.  Therfore, we musthave in we must have P *N / T = V, or P = V * T / N.

Today, N = 13.5 M BTC.  BitPay currently processes ~1 million USD per day of payments; let's guess that V is ten times that, 10 M USD/day.  Let's also guess T = 30 days.  (Note, we are assuming that no one is hoarding, so that everybody passes the coins on as soon as pratical.)  Then we get P = 10 * 30 / 13.6 = 22 USD.

You'd still have the issue of there being some hurdles to overcome before buying BTC to spend it on anything. On one hand, this is a disincentive to use BTC for transactions, on the other it is an incentive to 'hoard', as you put it, if you do prefer to use BTC for some purposes.

That aside, I think we can agree any tradeable asset will see some speculation. Looking at your formula, it occurs to me you might add two variables to account for this. One is the growth rate of the BTC price and another is the average speculator's patience - how long they're willing to wait for profits to reach their targets.  Of course both are unknown and actually somewhat interlinked, so it's no wonder price discovery is a messy business.
ShroomsKit
Hero Member
*****
Offline Offline

Activity: 672
Merit: 500



View Profile
January 04, 2015, 08:05:52 PM

Its accumulation time. Fresh fiat hits the exchanges tomorrow.

Are we about to go up?
NotLambchop
Sr. Member
****
Offline Offline

Activity: 378
Merit: 254


View Profile
January 04, 2015, 08:07:12 PM

Lamby you dirty rat, STILL POSTING? Didn't you buy all of them cheap coins by now? Shocked Shocked

Cheap=single digits.  Reasonable=low double.  Now=your pain has just begun.

findftp
Legendary
*
Offline Offline

Activity: 1022
Merit: 1008

Delusional crypto obsessionist


View Profile
January 04, 2015, 08:13:43 PM

It's time for a pump to 287  284.666.
Please fill my asks.
After that, it's down again
macsga
Legendary
*
Offline Offline

Activity: 1484
Merit: 1002


Strange, yet attractive.


View Profile
January 04, 2015, 08:14:23 PM

Lamby you dirty rat, STILL POSTING? Didn't you buy all of them cheap coins by now? Shocked Shocked

Cheap=single digits.  Reasonable=low double.  Now=your pain has just begun.

[usual crappy pic]

You're hilarious. Unignored again  Grin
findftp
Legendary
*
Offline Offline

Activity: 1022
Merit: 1008

Delusional crypto obsessionist


View Profile
January 04, 2015, 08:15:16 PM

Some of the selling coming with spikes in bitcoin days destroyed




What's the source of that bitcoin days destroyed chart?  



blockchain.info

And you know you can resize pictures with "[img width=100]" right?
flounderella
Sr. Member
****
Offline Offline

Activity: 350
Merit: 250

Bitcoin Evengelist


View Profile
January 04, 2015, 08:15:54 PM

Some of the selling coming with spikes in bitcoin days destroyed




What's the source of that bitcoin days destroyed chart?  



Could also be that a block was found and cashed out immediately... its hard to know. Overall not really seeing that much of a volume

https://blockchain.info/charts/bitcoin-days-destroyed?timespan=60days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=
itod
Legendary
*
Offline Offline

Activity: 1974
Merit: 1077


^ Will code for Bitcoins


View Profile
January 04, 2015, 08:31:57 PM

What's the source of that bitcoin days destroyed chart? 

It's manipulated, scaled chart. Here's the real 1 year days destroyed chart, nothing unusual is happening:

heartastack
Hero Member
*****
Offline Offline

Activity: 714
Merit: 500


View Profile
January 04, 2015, 08:34:29 PM

If we see double digit Bitcoin in 2015 then I am quite sure that an Altcoin could have the throne up for grabs.
I though mass adoption and infrastructure would solidify btc's place. But I'm less certain now. Enough investment in an Altcoin wouldn't be unthinkable. Plus it seems like just clown-money in Bitcoin atm anyway - ie just buyers looking to trade and not use for anything productive. Silk Road was the best thing that happened to BTC. Those days everyone knew someone that was actually using Bitcoin to buy drugs with (where I live anyway). After the shutdown all those guys sold and most can't be bothered using the other dark markets after the shut down and buy their shit back on the streets.
dakota neat
Hero Member
*****
Offline Offline

Activity: 658
Merit: 500



View Profile
January 04, 2015, 08:38:16 PM

If we see double digit Bitcoin in 2015 then I am quite sure that an Altcoin could have the throne up for grabs.
I though mass adoption and infrastructure would solidify btc's place. But I'm less certain now. Enough investment in an Altcoin wouldn't be unthinkable. Plus it seems like just clown-money in Bitcoin atm anyway - ie just buyers looking to trade and not use for anything productive. Silk Road was the best thing that happened to BTC. Those days everyone knew someone that was actually using Bitcoin to buy drugs with (where I live anyway). After the shutdown all those guys sold and most can't be bothered using the other dark markets after the shut down and buy their shit back on the streets.

Black Markets are flourish as ever. Your information is wrong.
itod
Legendary
*
Offline Offline

Activity: 1974
Merit: 1077


^ Will code for Bitcoins


View Profile
January 04, 2015, 08:39:43 PM

If we see double digit Bitcoin in 2015 then I am quite sure that an Altcoin could have the throne up for grabs.
I though mass adoption and infrastructure would solidify btc's place. But I'm less certain now. Enough investment in an Altcoin wouldn't be unthinkable. Plus it seems like just clown-money in Bitcoin atm anyway - ie just buyers looking to trade and not use for anything productive. Silk Road was the best thing that happened to BTC. Those days everyone knew someone that was actually using Bitcoin to buy drugs with (where I live anyway). After the shutdown all those guys sold and most can't be bothered using the other dark markets after the shut down and buy their shit back on the streets.

On the contrary, Silk Road was the worst thing that happened to bitcoin, and we are still suffering from the reputation Silk Road brought to bitcoin as being the bridge to illegal payments. Bitcoin is just fine with the price in the levels it is now if it would be 100% legal and acceptable by respectable businesses. Sooner or later (year, or two) the price will slowly rise as the legal use cases develop one by one. There's nothing worse than being semi-legal high value currency for the criminals.
Blazin604
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
January 04, 2015, 08:41:26 PM

You all need to roll a fat blunt. Sit back spark it up and hold your BTC n make money like a real boss
ShroomsKit
Hero Member
*****
Offline Offline

Activity: 672
Merit: 500



View Profile
January 04, 2015, 08:42:58 PM

2015 will be the year where all the companies like Dell and MS will start dropping Bitcoin again because every day less people use it. At the end of 2015 Bitcoin will be pretty much dead and something better will take its place.

Everyone is blinded by all the news every month about company x getting a 20 million investment.
This does nothing for Bitcoin itself. It's just for marketing some product or service and hiring staff etc.
The Bitcoin devs do absolutely nothing that is needed. Just a small transaction fee change here and a line of code here. But for the average user Bitcoin is at the same unusable level as 6 years ago. Nothing is done to make it more appealing for mainstream adoption or every day use.
This in combination with the traders who every day fuck up the price and fuck over every new buyer with their dumps and you are left with a worthless product unless you need to buy drugs on a dark market.

Now that the hype is over the system will slowly bleed to death.
LOBSTER
Hero Member
*****
Offline Offline

Activity: 560
Merit: 500


View Profile
January 04, 2015, 08:43:28 PM

What's the source of that bitcoin days destroyed chart? 

It's manipulated, scaled chart. Here's the real 1 year days destroyed chart, nothing unusual is happening:



What does mean? What are these destroyed days?
NotLambchop
Sr. Member
****
Offline Offline

Activity: 378
Merit: 254


View Profile
January 04, 2015, 08:43:34 PM

...
Black Markets are flourish as ever. Your information is wrong.

Right.  But not those silly Silkroad wannabes.  

Coinshot
Hero Member
*****
Offline Offline

Activity: 521
Merit: 500


View Profile
January 04, 2015, 08:47:58 PM

If we see double digit Bitcoin in 2015 then I am quite sure that an Altcoin could have the throne up for grabs.
I though mass adoption and infrastructure would solidify btc's place. But I'm less certain now. Enough investment in an Altcoin wouldn't be unthinkable. Plus it seems like just clown-money in Bitcoin atm anyway - ie just buyers looking to trade and not use for anything productive. Silk Road was the best thing that happened to BTC. Those days everyone knew someone that was actually using Bitcoin to buy drugs with (where I live anyway). After the shutdown all those guys sold and most can't be bothered using the other dark markets after the shut down and buy their shit back on the streets.

On the contrary, Silk Road was the worst thing that happened to bitcoin, and we are still suffering from the reputation Silk Road brought to bitcoin as being the bridge to illegal payments. Bitcoin is just fine with the price in the levels it is now if it would be 100% legal and acceptable by respectable businesses. Sooner or later (year, or two) the price will slowly rise as the legal use cases develop one by one. There's nothing worse than being semi-legal high value currency for the criminals.

Silk Road was the reason BTC gained some name in the first place. Once it became big it looks to be a drawback, but you forget it would not have been big in the first place without Silk Road.
heartastack
Hero Member
*****
Offline Offline

Activity: 714
Merit: 500


View Profile
January 04, 2015, 08:48:18 PM

If we see double digit Bitcoin in 2015 then I am quite sure that an Altcoin could have the throne up for grabs.
I though mass adoption and infrastructure would solidify btc's place. But I'm less certain now. Enough investment in an Altcoin wouldn't be unthinkable. Plus it seems like just clown-money in Bitcoin atm anyway - ie just buyers looking to trade and not use for anything productive. Silk Road was the best thing that happened to BTC. Those days everyone knew someone that was actually using Bitcoin to buy drugs with (where I live anyway). After the shutdown all those guys sold and most can't be bothered using the other dark markets after the shut down and buy their shit back on the streets.

Black Markets are flourish as ever. Your information is wrong.

Conceited kunts like you are half the reason people can't be fucked with this tech.


Let me rephrase. Silk Road was the only time I've seen so far that average people who would otherwise not care about BTC were forced to use it (adopt it) because they wanted their online drugs. Henceforth when they had to work a little bit harder or were too scared after the shut down they left the scene.

Not saying it was the right direction for BTC but it demonstrated for me how it needs to be adopted to succeed. And it will not be successful based on the sound-money arguments without a systemic financial collapse of the currency system (still possible).
Until then pay-wave credit cards have BTC beat.
LOBSTER
Hero Member
*****
Offline Offline

Activity: 560
Merit: 500


View Profile
January 04, 2015, 08:54:10 PM


New sideway movement?
Pages: « 1 ... 10300 10301 10302 10303 10304 10305 10306 10307 10308 10309 10310 10311 10312 10313 10314 10315 10316 10317 10318 10319 10320 10321 10322 10323 10324 10325 10326 10327 10328 10329 10330 10331 10332 10333 10334 10335 10336 10337 10338 10339 10340 10341 10342 10343 10344 10345 10346 10347 10348 10349 [10350] 10351 10352 10353 10354 10355 10356 10357 10358 10359 10360 10361 10362 10363 10364 10365 10366 10367 10368 10369 10370 10371 10372 10373 10374 10375 10376 10377 10378 10379 10380 10381 10382 10383 10384 10385 10386 10387 10388 10389 10390 10391 10392 10393 10394 10395 10396 10397 10398 10399 10400 ... 33880 »
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!