Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[rpietila]

No way to know how many of those 1.9 million(now 2 ) are active vs just sitting on some milibits.

There are ways to know it, one is statistical analysis of the distribution of the bitcoin balances.

Because of the way bitcoin balances are created, their distribution follows some mathematical laws that can be used to model the distribution. This applies as well to the grand totals, as to (for example) the bitcoin balances that individual customers held at Mt.Gox and lost.

And it applies to Coinbase. Spending one hour, I could tell the answer quite well. But for sure most of the 2 million are <BTC1, because the average is probably around BTC1 or a bit less.

[Walsoraj]

http://blogs.wsj.com/venturecapital/2015/01/26/digital-payments-company-ripple-labs-finalizing-30-million-funding-round/

Ripple Labs Inc., the developer of a bitcoin-like technology that enables institutions to transfer money internationally, is closing in on a $30 million funding round, Venture Capital Dispatch has learned.

A spokesman for the company, formerly called OpenCoin, confirmed it is working on a new financing but declined to provide details.

A person familiar with the situation said the deal places the post-money valuation of the San Francisco startup at about $100 million.

Investors in the Series A round will include Andreessen Horowitz, Google Ventures, IDG Capital Partners and other existing investors, the person said. Ripple previously raised more than $3.5 million from a number of backers including Bitcoin Opportunity Fund, Camp One Ventures, Core Innovation Capital, FF Angel, Lightspeed Venture Partners, Vast Ventures and Venture51.

Ripple has created a decentralized payments network that helps validate transactions using a digital currency technology similar to bitcoin. The goal is to reduce the cost and time it takes to make cross-border payments in various currencies. The company is targeting use by banks and remittance providers, rather than consumers.

The company signed on two American banks, Cross River Bank and CBW Bank, last year, as well as Fidor Bankin Germany, to use the Ripple network to enable customers to instantly send money internationally. The network allows smaller banks to avoid the use of large intermediate banks that take fees on such transactions.

Ripple is tapping into the promise of the distributed verification systems that underlie digital currencies such as bitcoin and Ripple’s digital coin. These systems can help speed up and reduce the cost of financial transactions, as well as a variety of other transactions. Venture investors are increasingly talking about the value of this type of distributed ledger system as a basis for all kinds of applications, not just currency.

Though bitcoin itself has many potential uses, including as a system for improving the efficiency of payments and financial infrastructure, speculation has resulted in swings in its price. The volatility of that digital currency has kept some venture investors on the sidelines, even as others have plunged in.

The largest venture investment in a bitcoin company took place recently, when investors put $75 million into Coinbase Inc. Bitcoin-based startups have attracted roughly $439 million in venture capital in recent years, according to bitcoin-market tracker Coindesk.

Gonna be huge, and bullish as fuck. Amirite, guys?  

A spokesman for the company, formerly called OpenCoin, confirmed it is working on a new financing but declined to provide details.

Ok, so it might be over 30 million, perhaps even over 75 million? Gotcha.

[dreamspark]

When the bubble burst...when all the get quick rich kids abandon the ship and fall in despair... so many people said that Bitcoin will die if we revisit double digits and I contradict this...

Thats so vague, 1200 - 160 doesn't count as a bubble burst? The get rich quick people will always be here. Not saying I wouldnt mind a chance to buy in double digits 

[dakota neat]

Enjoy that little dip, trolls. You will look silly soon enough.

[mmitech]

mmitech, I know we've butted heads before but seriously. What price do you consider to be where BTC should be or where would you buy back all in?

What makes you think he has any money to buy back at all?

You must be new here, he cleaned up with litecoin last November...

You mean 2013 I hope...

Indeed, damn these years are going fast now days 

I have to admit that Litecoin was the best performing investment in my portfolio, but sadly I don't see any purpose in it anymore, Bitcoin v 2.0 coins like Ethereum could be a big news though.

[Plazma]

Is this the closing of the bear trap?

[NotLambchop]

wait for $300,000 coin y'all; because muh learnings!

Where do you get the audacity to still post here?

[freebit13]

Coin
Explanation

Wow, chartbuddy, you really have your work cut out for you now... nice work 

[mmitech]

When the bubble burst...when all the get quick rich kids abandon the ship and fall in despair... so many people said that Bitcoin will die if we revisit double digits and I contradict this...

Thats so vague, 1200 - 160 doesn't count as a bubble burst? The get rich quick people will always be here. Not saying I wouldnt mind a chance to buy in double digits 

nope, it started from lower double digits, so nope the bubble didn't burst.

[NotLambchop]

Enjoy that little dip...

Still waiting for the fucking landslide!!! adjustment to kick in.

[SnokkomBTC]

what is the volume of Coinbase?

[damiano]

its going to be pretty fucked up if we're over or close to 300 by end of day

Overbought now, EMA is at $257

Yea still going down.

If they dump another 8k it will take us to about 250

[mmitech]

If I wanted more BTC, I'd simply have put away a fraction of the money I made selling at the 2013/2014 juncture.  I spent it all (or have it earmarked) for property development projects.  Don't worry...I've got a decent amount of powder of the BTC variety dry.

I more or less got the posting bug out of my system over the last few weeks.  The only interesting thing going on recently is the sidechains possibility which is probably the last hope to save Bitcoin as something worth saving.  Also, gearing up for the 'gavincoin' fork war is something I should be focusing my efforts on, but it's such a hassle and a lot of work that I've been remiss...easier to post babble on trolltalk.

I tend not to be 'bullish' or 'bearish'.  Price spikes and drops are just things that happen.  Obviously they are emotionally exciting, but I expect both of them to continue so none of them are big surprises.  I just call things as I see them and tell people what I am doing.  Told people I was buying in the single digits.  Told people I was selling in the four digits.  Told people a few days ago that I'd probably be buying right now if I had no BTC and some money to gamble with.  Maybe that's what turned the market around.  Who knows?  I mean anyone who is watching will probably listen to my thoughts more than the perma-bull bozos who look indistinguishable from pump-n-dump scammers.

My words exactly.

LOL, are you this desperate to cross-post ? the post you replied to is not even in this thread, get your shit together or go back to your "self moderated" mental hospital.

[JimboToronto]

Coinbase trading API documentation:
https://docs.exchange.coinbase.com/

Know when it's starting up? I doubt I'll get CB on it right away but starting to gather the data should be straightforward enough.

Good job Richy.

[dreamspark]

When the bubble burst...when all the get quick rich kids abandon the ship and fall in despair... so many people said that Bitcoin will die if we revisit double digits and I contradict this...

Thats so vague, 1200 - 160 doesn't count as a bubble burst? The get rich quick people will always be here. Not saying I wouldnt mind a chance to buy in double digits  

nope, it started from lower double digits, so nope the bubble didn't burst.

Thats crazy though, we're two years down the line in terms of new users, media attention, big investors and infrastructure. If thats the line your going with then surely we should be back to 0 as thats where it started.

[AirFlame]

Is this the closing of the bear trap?

:D:D

[ivyleague1985]

Coinbase trading API documentation:
https://docs.exchange.coinbase.com/

Know when it's starting up? I doubt I'll get CB on it right away but starting to gather the data should be straightforward enough.

Good job Richy.

Thanks for the API. Will look into it and merge it with my own algorithms.

Two months of fee-free HFT on coinbase will create a fortune for many of you.

[billyjoeallen]

$260 retracement. 6 hours till Asia opens is enough time to bring down oversold levels on 6h bitfinex. This is a retracement. question is 23%, 38% or 50%

I'm margin short until 23, sitting in cash till 38 and going back all-in @ 50%. But FIRST, we gotta give the Chinese panic monkeys at least a day to give us our coins back.

[mrkavasaki]

imho ripple is really, really the shitest coin ever
this shit is centralized as fuck

bitcoin is so much easier to use than ripple

[Warren Buffert]

Bitcoin desperately pumped over the weekend, and yet still only 25% of it's value from 14 months ago. To the moon!