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

[molecular]

I read an article that was downplaying Bitcoin by saying that their survey showed that bitcoin is used for only about 1% of e-commerce.

1% ?!?

That's insanely high. No way is bitcoin used for 1% of e-commerce.

[gentlemand]

1% ?!?

That's insanely high. No way is bitcoin used for 1% of e-commerce.

Indeed. That's bonkers. I still get the feeling a bell goes off and metres of silly string shoot from the walls in the Bitpay office every time a sale takes place.

[Elwar]

Bitcoin price just passed the all time high in Nigeria.

http://www.itwebafrica.com/home-page/e-commerce/700-nigeria/237095-bitx-reports-bitcoin-price-of-us125118-in-nigeria

[tabnloz]

I think it is all about surviving for now.

The longer bitcoin does so the better.

Once we get to the inevitable faltering of the debt system it will be off to the races.

In a true crisis situation, with the amount of debt and leverage in the system, there will only be a few asset classes that money will flock to. I believe bitcoin will be one of them.

Due to the 21m limit they are scarce

Due to the so far limited adoption, I hope bitcoin will bypass the downside that comes with 'sell whatever you can' that typifies a panic (this assumes that a lot of the current movements are attributed to traders ramping up / down magnifying 'news').

[Elwar]

I read an article that was downplaying Bitcoin by saying that their survey showed that bitcoin is used for only about 1% of e-commerce.

Considering world e-commerce is currently at $2 trillion with a projection of $4 trillion in 2020.

1% of $2 trillion is $20 billion. A $20 trillion billion market cap for bitcoin would be $1,300 per bitcoin. In 2020 e-commerce alone could account for $2,500 per bitcoin and there are many other uses for Bitcoin.

are you taking into account the coins that will be mined until 2020?

That's why I rounded to $2,500 instead of $2,666.

But yes, 1% is a high number. The article I read was putting Bitcoin down because their survey found "only" 1% of the participants used bitcoin for ecommerce. Can't find the article now though 

[BTC_ISTANBUL]

After India now Venezuela has announced 'capital control regime'.In short you can not get what you deposit at the bank whenever you want but only a defined amount at a defined date.

Well, Venezuela is a rich country for her resources but domestic income per person is low , so the amount of money people keep at home.However this regime may spread and BTC and other coins may rise because of supply and demand.

[starmman]

I read an article that was downplaying Bitcoin by saying that their survey showed that bitcoin is used for only about 1% of e-commerce.

Considering world e-commerce is currently at $2 trillion with a projection of $4 trillion in 2020.

1% of $2 trillion is $20 billion. A $20 trillion billion market cap for bitcoin would be $1,300 per bitcoin. In 2020 e-commerce alone could account for $2,500 per bitcoin and there are many other uses for Bitcoin.

are you taking into account the coins that will be mined until 2020?

That's why I rounded to $2,500 instead of $2,666.

But yes, 1% is a high number. The article I read was putting Bitcoin down because their survey found "only" 1% of the participants used bitcoin for ecommerce. Can't find the article now though 

In my opinion 1% of online transactions would be a great level for BTC to be at. I suspect some currencies like the Swedish Krona are also less than 1% of world online transactions.

[petahashminer]

Chinese pump time ?

huobi just went over 5250 yuans..

go huobi go. 


by the way,

who sold at bottom?

[Blavatsky]

it is not pump, it is just the return to the same price as before the dump

[Ted E. Bare]

It is happening again!!

[becoin]

Chinese pump time ?

May be Indians or Nigerians found a way to circumvent capital control and arbitrage bitcoin exchange rate?

[petahashminer]

Chinese pump time ?

May be Indians or Nigerians found a way to circumvent capital control and arbitrage bitcoin exchange rate?

whatever it is,

 i am so exited as always. 

[Meuh6879]

India have balls ? ...

[Pai Mei]

Chinese pump time ?

May be Indians or Nigerians found a way to circumvent capital control and arbitrage bitcoin exchange rate?

nigerians are pro to circumvent everything since the nigerian prince appeared

[Paashaas]

Chinese pump time ?

May be Indians or Nigerians found a way to circumvent capital control and arbitrage bitcoin exchange rate?

whatever it is,

i am so exited as always. 

I'm reading for the past 3 years almost everyday Crypto Bitcoin news, i can tell you one thing; i'm still and never been so freaking bullish about Bicoin as now!

It is going to happen guys, Bitcoin will get BIG!

Everybody loves Bitcoin but not banksters, goverments, Kwuckduck & MattheCat..

[Pai Mei]

speaking about him, where is MattheCat hiding?

should we consider his absence as a bullish sign?

[petahashminer]

Chinese pump time ?

May be Indians or Nigerians found a way to circumvent capital control and arbitrage bitcoin exchange rate?

whatever it is,

i am so exited as always. 

I'm reading for the past 3 years almost everyday Crypto Bitcoin news, i can tell you one thing; i'm still and never been so freaking bullish about Bicoin as now!

It is going to happen guys, Bitcoin will get BIG!

Everybody loves Bitcoin but not banksters, goverments, Kwuckduck & MattheCat..

GREAT dude,

i know one rule about bitcoin ..

patient holders will always win.

[criptix]

Yeah all in all it still looks like holding is the best (/safest) option with bitcoin

[magemist]

Something is happening because I have bitcoins sent to me 10 hours ago and they still haven't confirmed at least once.
That is unusual and BiPolarBob is back! So is this a concidence of why bitcoin is pumping up?
I don't know really. HAHA!

[hmmkay]

Mempool is hiking up again.

http://bitcointicker.co/networkstats/