What is going on? Trading volume is so low!

[naphto]

I think a lot of it has to do with the emergence of several new coins as well, traders have shifted their attention to these as BTC continues it's overall rise beyond comfort level for many weekend warriors. Altcoins are dirt cheap and are much more volatile, many are making a killing riding those waves, but it is a lot more dangerous (as I know with FTC bottoming out...)

If anything it is a good thing to see this volatility find a new home which keeps BTC and LTC more stable overall and less prone to run ups/downs because it is being taken to altcoin exchanges instead. The price has remained as BTC is being diverted to these other coins as well. This extends to mining botnets as well that are targeting the altcoins with BTC difficulties exploding (severely in the coming months with ASICs finally hitting the streets en masse).

I look at the larger picture though beyond the day trade. Simply holding your BTC could make you a very rich person as governments and banks continue to implode. We have already seen an example of people flocking to Bitcoin with the Cyprus mess, and now Argentinians are getting on board as the Peso crumbles at 25% inflation per year (!!!). The exodus from fiat has only just begun, thanks to the news people are waking up to the fact there is a way out that never existed until now.

The buy in is higher now, but the eventual end game will make that $100/BTC look like nothing when it crests $1000s as banking exiles find a new home in crypto-currency as trust in the fiat system continues its epic decline to irrelevance.

We are the pioneers of the most massive paradigm shift the world has ever seen. Hold on to your butts when the fiat stock markets go straight into the ground a little later this year probably taking the rest of the world with it, and that is happening right now as it reaches the level it did right before the 2002 and 2008 crashes. Real economists not controlled by NewsCorp see it coming, as the stock trade is booming, while real world economics paint a whole different picture of what is really going on. Several nations are on the brink of total collapse, any market quiver will spell the end at this point, and it cannot simply be "fixed" by Bernake's magic money press this time.

I truly believe Bitcoin may very well be the last working economies left, and soon.

You are way too over-confident

[Bitsinmyhead]

A lot of the big traders moved their action over to plus500 to trade on a FSA regulated site with 4:1 leverage, option to short and instant credit card deposits. Like everything else, most of the action always ends up in "paper" derivatives.

[Rampion]

A lot of the big traders moved their action over to plus500 to trade on a FSA regulated site with 4:1 leverage, option to short and instant credit card deposits. Like everything else, most of the action always ends up in "paper" derivatives.

Only fools play with paper and not the real thing.

Anyhow:

[Bitsinmyhead]

Only fools play with paper and not the real thing.

Unfortunately when the alternative is playing with the real thing on exchanges that has a 45% fail rate, it's not much of a decision for some players  

[Questing]

I think a lot of it has to do with the emergence of several new coins as well, traders have shifted their attention to these as BTC continues it's overall rise beyond comfort level for many weekend warriors. Altcoins are dirt cheap and are much more volatile, many are making a killing riding those waves, but it is a lot more dangerous (as I know with FTC bottoming out...)

If anything it is a good thing to see this volatility find a new home which keeps BTC and LTC more stable overall and less prone to run ups/downs because it is being taken to altcoin exchanges instead. The price has remained as BTC is being diverted to these other coins as well. This extends to mining botnets as well that are targeting the altcoins with BTC difficulties exploding (severely in the coming months with ASICs finally hitting the streets en masse).

Operatr! Thank you. I've learnt a lot from your post. Maybe I'm being ridiculous, but I feel a loyalty to Bitcoin. I want to see btc succeed beyond other coins. But I'm going to check out these other coins you speak of, and who knows. Might even have a dabble. Day trading! my new sport

[Questing]

Only fools play with paper and not the real thing.

Unfortunately when the alternative is playing with the real thing on exchanges that has a 45% fail rate, it's not much of a decision for some players  

I'll be curious to hear your opinion plz? Are you suggesting btc trading has a 45% fail rate?

[Questing]

A lot of the big traders moved their action over to plus500 to trade on a FSA regulated site with 4:1 leverage, option to short and instant credit card deposits. Like everything else, most of the action always ends up in "paper" derivatives.

Thank you for posting this. Do you have a link for plus500 plz? Sounds interesting

[naphto]

A lot of the big traders moved their action over to plus500 to trade on a FSA regulated site with 4:1 leverage, option to short and instant credit card deposits. Like everything else, most of the action always ends up in "paper" derivatives.

Thank you for posting this. Do you have a link for plus500 plz? Sounds interesting

http://www.plus500.co.uk/Instruments/BTCUSD ?

[Rampion]

A lot of the big traders moved their action over to plus500 to trade on a FSA regulated site with 4:1 leverage, option to short and instant credit card deposits. Like everything else, most of the action always ends up in "paper" derivatives.

Thank you for posting this. Do you have a link for plus500 plz? Sounds interesting

Not it is not. Do not fell for financial scams aka derivatives. Bitcoin was meant to fight that.

[Questing]

I look at the larger picture though beyond the day trade. Simply holding your BTC could make you a very rich person as governments and banks continue to implode. We have already seen an example of people flocking to Bitcoin with the Cyprus mess, and now Argentinians are getting on board as the Peso crumbles at 25% inflation per year (!!!). The exodus from fiat has only just begun, thanks to the news people are waking up to the fact there is a way out that never existed until now.

The buy in is higher now, but the eventual end game will make that $100/BTC look like nothing when it crests $1000s as banking exiles find a new home in crypto-currency as trust in the fiat system continues its epic decline to irrelevance.

We are the pioneers of the most massive paradigm shift the world has ever seen. Hold on to your butts when the fiat stock markets go straight into the ground a little later this year probably taking the rest of the world with it, and that is happening right now as it reaches the level it did right before the 2002 and 2008 crashes. Real economists not controlled by NewsCorp see it coming, as the stock trade is booming, while real world economics paint a whole different picture of what is really going on. Several nations are on the brink of total collapse, any market quiver will spell the end at this point, and it cannot simply be "fixed" by Bernake's magic money press this time.

I truly believe Bitcoin may very well be the last working economies left, and soon.

The crazy thing is, nobody can say with certainty that your not right. I love the idea of moving toward btc, and away from gov and bank controls. But I cannot see such a dramatic shift as you propose, without some massive pain. There might even be some extreme and undesirable consequences.
Like the Chinese proverb " may you live in interesting times". Yay, like the potato famine, or world wars. Lets hope things dont get too interesting, to quickly.

[naphto]

Not it is not. Do not fell for financial scams aka derivatives. Bitcoin was meant to fight that.

But bitcoin was never used differently.
Speculate or illegal stuff are the 2 only interests that bitcoin has ever had, huh.

[Rampion]

Not it is not. Do not fell for financial scams aka derivatives. Bitcoin was meant to fight that.

But bitcoin was never used differently.
Speculate or illegal stuff are the 2 only interests that bitcoin has ever had, huh.

Wrong. Bitcoin is about freedom.

[naphto]

Wrong. Bitcoin is about freedom.

What it might be intended =/= what it is used for

[Questing]

A lot of the big traders moved their action over to plus500 to trade on a FSA regulated site with 4:1 leverage, option to short and instant credit card deposits. Like everything else, most of the action always ends up in "paper" derivatives.

Thank you for posting this. Do you have a link for plus500 plz? Sounds interesting

Not it is not. Do not fell for financial scams aka derivatives. Bitcoin was meant to fight that.

Thank you for your word of caution Rampion. Having read your posts I respect your opinion. I'm just checking stuff out. Satisfying my curiosity

[Questing]

Wow, $121.50!!! I've been to cautious. missed the action. Was about to invest half my purse at $13 dollars, but didn't get there in time. To bad

[Bitsinmyhead]

I'll be curious to hear your opinion plz? Are you suggesting btc trading has a 45% fail rate?

Im refferring to this: http://news.yahoo.com/study-shows-45-bitcoin-exchanges-end-failing-173543597.html
45% of Bitcoin trading exchanges fail, often taking customers money with them. I feel it is safer to do my trading through a FSA regulated broker and many serious traders agree with me.

If you are not in the US see my signature for more info on how to get some nice bonuses 

[Questing]

I'll be curious to hear your opinion plz? Are you suggesting btc trading has a 45% fail rate?

Im refferring to this: http://news.yahoo.com/study-shows-45-bitcoin-exchanges-end-failing-173543597.html
45% of Bitcoin trading exchanges fail, often taking customers money with them. I feel it is safer to do my trading through a FSA regulated broker and many serious traders agree with me.

If you are not in the US see my signature for more info on how to get some nice bonuses  

Thank you for the link. very interesting. Actually, I'm not to surprised, and it doesn't put me off really. Crypto currencies are new, so its the internet wild west right now. Part of what makes it exciting. History in the making.
And by the way, 90% of all business fail in the short term. So 45% is a pretty good average.

I'm not a stock trader. Or at least not the traditional type. I'm trading bitcoin only because I'm caught up in the intrigue. Otherwise I just invest my money in business

[Razick]

Low volume is because we are reaching a tipping point. Both buyers and sellers are on hold. There are two options:

a) consolidation phase, plus steady and sustainable growth (no more bubbling for now)
b) bear market, slow and deep decline (as per 2011)

Anyhow, depth on both sides of the order book is big and healthy. ATM sellers are placing asks and not dumping, buyers are placing bids and not making market orders.

We will see where we are heading at very soon. I say give 70% chances to consolidation phase; 30% chances for bear market.

+1

I'd add a third option:

c) Final mini-crash of about $15-$25 or so, then a rebound to  $90-$100 followed by steady and sustainable growth. The numbers are pulled out of my ass, but you get the point I hope.

[Questing]

Low volume is because we are reaching a tipping point. Both buyers and sellers are on hold. There are two options:

a) consolidation phase, plus steady and sustainable growth (no more bubbling for now)
b) bear market, slow and deep decline (as per 2011)

Anyhow, depth on both sides of the order book is big and healthy. ATM sellers are placing asks and not dumping, buyers are placing bids and not making market orders.

We will see where we are heading at very soon. I say give 70% chances to consolidation phase; 30% chances for bear market.

+1

I'd add a third option:

c) Final mini-crash of about $15-$25 or so, then a rebound to  $90-$100 followed by steady and sustainable growth. The numbers are pulled out of my ass, but you get the point I hope.

We're making conversation, and no doubt its hard to predict the market trends. You don't need to tell us. But Rampion's got a better idea than most

[Operatr]

I look at the larger picture though beyond the day trade. Simply holding your BTC could make you a very rich person as governments and banks continue to implode. We have already seen an example of people flocking to Bitcoin with the Cyprus mess, and now Argentinians are getting on board as the Peso crumbles at 25% inflation per year (!!!). The exodus from fiat has only just begun, thanks to the news people are waking up to the fact there is a way out that never existed until now.

The buy in is higher now, but the eventual end game will make that $100/BTC look like nothing when it crests $1000s as banking exiles find a new home in crypto-currency as trust in the fiat system continues its epic decline to irrelevance.

We are the pioneers of the most massive paradigm shift the world has ever seen. Hold on to your butts when the fiat stock markets go straight into the ground a little later this year probably taking the rest of the world with it, and that is happening right now as it reaches the level it did right before the 2002 and 2008 crashes. Real economists not controlled by NewsCorp see it coming, as the stock trade is booming, while real world economics paint a whole different picture of what is really going on. Several nations are on the brink of total collapse, any market quiver will spell the end at this point, and it cannot simply be "fixed" by Bernake's magic money press this time.

I truly believe Bitcoin may very well be the last working economies left, and soon.

The crazy thing is, nobody can say with certainty that your not right. I love the idea of moving toward btc, and away from gov and bank controls. But I cannot see such a dramatic shift as you propose, without some massive pain. There might even be some extreme and undesirable consequences.
Like the Chinese proverb " may you live in interesting times". Yay, like the potato famine, or world wars. Lets hope things dont get too interesting, to quickly.

Indeed. What happens next is both exciting and terrifying at the same time. Obviously I can't know for sure what will happen, but we're headed for something big I think.