What sort of effect to expect on price w/ China news?

[Crazy]

It's also easy to believe that a few thousand people dled the client because they thought they could somehow just generate money with their computers. The bitcoin subreddit gets a bunch of posts by people who've just heard about bitcoins and now they want to mine some with their laptops.

Agreed. This is what initially came to mind for me as well. People just thinking easy money: run my computer.

[underground_]

It's also easy to believe that a few thousand people dled the client because they thought they could somehow just generate money with their computers. The bitcoin subreddit gets a bunch of posts by people who've just heard about bitcoins and now they want to mine some with their laptops.

Agreed. This is what initially came to mind for me as well. People just thinking easy money: run my computer.

This post just popped up on reddt. http://www.reddit.com/r/Bitcoin/comments/1dqs42/is_it_worth_it_to_bitcoin_mine/

That's exactly what I'm talking about.

[anu]

It's also easy to believe that a few thousand people dled the client because they thought they could somehow just generate money with their computers. The bitcoin subreddit gets a bunch of posts by people who've just heard about bitcoins and now they want to mine some with their laptops.

Agreed. This is what initially came to mind for me as well. People just thinking easy money: run my computer.

This post just popped up on reddt. http://www.reddit.com/r/Bitcoin/comments/1dqs42/is_it_worth_it_to_bitcoin_mine/

That's exactly what I'm talking about.

Seems the right question for a nb to ask. Can't see anything wrong with that. Certainly not an indicator that the TV show has no effect whatsoever.

Chinese are buying up gold like mad so gold is getting scarce. You can get it at $1450 but you won't get any. Seems only rational that some are looking at alternatives.

[Crazy]

Chinese are buying up gold like mad so gold is getting scarce. You can get it at $1450 but you won't get any. Seems only rational that some are looking at alternatives.

I'm looking at my gold dealer's site right now. I don't see any of what I typically buy sold out. What are you referring to exactly?

[XXthetimeisnowXX]

ya millions of people learning about bitcoins.... ya that will have zero effect on the price .... not a damn thing will change!!! 

[Odalv]

ya millions of people learning about bitcoins.... ya that will have zero effect on the price .... not a damn thing will change!!! 

It will, but not sooner than next month.

[ManBearPig]

Don't the Chinese like Linux?

[Odalv]

Don't the Chinese like Linux?

Stupid bot :-) ? (doing always same HTTP/GET)

[notme]

Don't the Chinese like Linux?

Perhaps the Linux users self identify as Windows so as to not stand out.  I would do the same if I knew my internet traffic was scrutinized as closely as theirs is.

[Odalv]

Don't the Chinese like Linux?

Perhaps the Linux users self identify as Windows so as to not stand out.  I would do the same if I knew my internet traffic was scrutinized as closely as theirs is.

really ? will you run windows version on linux ?

[Frozenlock]

Sure, wine not? 

[Odalv]

Sure, wine not?  

:-) (EDIT: Frozenlock make better bot, what will download linux version too)

[old_engineer]

I don't think this China news will significantly affect the adoption rate or price.   This event reminds me of the Good Wife episode "Bitcoin for Dummies", which aired on January 16th, 2012.  It had a lot of hype leading up to it, but price dropped for months thereafter, and that was when the total daily volume in currency was around $300k USD, not $20M day USD like it is now.



Bitcoin also had front-page articles in WSJ, NYTimes, and most other major news sources during the bubble up, and the price has dropped since then.

[underground_]

I don't think this China news will significantly affect the adoption rate or price.   This event reminds me of the Good Wife episode "Bitcoin for Dummies", which aired on January 16th, 2012.  It had a lot of hype leading up to it, but price dropped for months thereafter, and that was when the total daily volume in currency was around $300k USD, not $20M day USD like it is now.

Bitcoin also had front-page articles in WSJ, NYTimes, and most other major news sources during the bubble up, and the price has dropped since then.

The same thing happened before the first bitcoin conference.

[ShroomsKit]

Effect? The writing is on the wall: http://sourceforge.net/projects/bitcoin/files/stats/map?dates=2013-05-04

Yea, I have a hard time wrapping my mind around this, but it happened.

There is not so hard make a bot downloading any software.

Exactly.

There's no captcha at Sourceforge.

There's two kinds of market manipulation:  financial, and psychological.  23k downloads one day - 1.5k the previous day?  Off of one TV show?  I know there's a lot of people in China, and I know they get seroiusly into their money... but still...

Ockham's Razor.  It's much easier to believe somebody is trying to manipulate market sentiment with a download bot.  Really it is.

Uhm haha no it isn't.

[arepo]

Ockham's Razor.  It's much easier to believe somebody is trying to manipulate market sentiment with a download bot.  Really it is.

occam's razor implies a conspiracy theory? i don't think so.

[wobber]

I have the strong feeling the price is gonna rise to about 350. It's my personal assumption based some very basic and noobish TA (thanks Arepo for pointing me to learn).

To stay on the safe side, I'd say 300. And not related to the China effect.

[BTC Books]

Ockham's Razor.  It's much easier to believe somebody is trying to manipulate market sentiment with a download bot.  Really it is.

occam's razor implies a conspiracy theory? i don't think so.

I don't see a conspiracy.  I simply state that between two scenarios I find it more likely that market manipulation explains these 23k (now 32k) of downloads.  Market manipulation can't be simply defined as a conspiracy - it's a fact of life in any market.

If all those downloads are one guy with a possibly good (for his bitcoin trading position) idea, that's simple.  If it's 32k individual people - whose OS choice statistics, I note, are rather... ummm... skewed - that's quite complex.  Simplicity wins over complexity.

* shrug *  Give it awhile.  We'll be able to see clients popping up in China any day now, right?  If they do...

[ShroomsKit]

Ockham's Razor.  It's much easier to believe somebody is trying to manipulate market sentiment with a download bot.  Really it is.

occam's razor implies a conspiracy theory? i don't think so.

Ya, he takes occam's razor and uses it exactly how it shouldn't be used.


What's more likely? A few million people watching an item about Bitcoin and a small % is interested and downloads a Bitcoin client
or
It's a bot.

Occam's razor obviously says the first option.

[ShroomsKit]

Ockham's Razor.  It's much easier to believe somebody is trying to manipulate market sentiment with a download bot.  Really it is.

occam's razor implies a conspiracy theory? i don't think so.

I don't see a conspiracy.  I simply state that between two scenarios I find it more likely that market manipulation explains these 23k (now 32k) of downloads.  Market manipulation can't be simply defined as a conspiracy - it's a fact of life in any market.

If all those downloads are one guy with a possibly good (for his bitcoin trading position) idea, that's simple.  If it's 32k individual people - whose OS choice statistics, I note, are rather... ummm... skewed - that's quite complex.  Simplicity wins over complexity.

* shrug *  Give it awhile.  We'll be able to see clients popping up in China any day now, right?  If they do...

You have a very, very odd way of thinking. No offense.