Why the sudden price rise?

[PrintMule]

litecoiners seeing little jump in btc price went to trade to btc, while ltc drops lower and lower

[1714846779]

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[Ivanhoe]

Will this be a sustained price rise?

No, it will either be a bubble, a bull trap, a head-and-shoulders, a triangle, a reverse head-and-shoulders, or a reverse-psychology-beartrap.

where are we ?



what are we (like) ?




no matter which curve you choose, there is plenty of room. get your coins when they are cheap. everything below 1000 $ is cheap 

I'd say we're currently in the chasm between visionaries and pragmatists.

If the scale is anything to go on we are at the alfa test and not even the end of it.

I would say at the beginning of early adapters, since the ETF and Baidu are accepting it.

[fleabag]

I may not have looked far enough, but I don't seem to find anything justifying this sudden sharp rise...

Bots slowly drive up the price. If nobody is buying or selling the .00000001 bids keep going up. So basically it is being manipulated up because most people who use bots are bullish.

[syn999]

cant wait price go sky rocket again

[fleabag]

cant wait price go sky rocket again

Why? Are you going to sell?

[sgbett]

Gox pays out just fine in Japan, I can tell you.

Another thing: http://www.businessweek.com/articles/2013-10-14/chinas-state-press-calls-for-building-a-de-americanized-world

I forgot that everyone lives in Japan again, DOH!

No silly, everyone lives in america, so thats all that matters ~derp

They are still paying out fine in that tiny backwater of Europe too...

[fleabag]

Europe is backward! Damn women dont know how to shave yet.

[derpinheimer]

Gox pays out just fine in Japan, I can tell you.

Another thing: http://www.businessweek.com/articles/2013-10-14/chinas-state-press-calls-for-building-a-de-americanized-world

I forgot that everyone lives in Japan again, DOH!

No silly, everyone lives in america, so thats all that matters ~derp

They are still paying out fine in that tiny backwater of Europe too...

Your attempts at sarcasm are doubly funny, because in Bitcoin, USD has a massive percent of volume.

[sgbett]

Gox pays out just fine in Japan, I can tell you.

Another thing: http://www.businessweek.com/articles/2013-10-14/chinas-state-press-calls-for-building-a-de-americanized-world

I forgot that everyone lives in Japan again, DOH!

No silly, everyone lives in america, so thats all that matters ~derp

They are still paying out fine in that tiny backwater of Europe too...

Your attempts at sarcasm are doubly funny, because in Bitcoin, USD has a massive percent of volume.

Can you logic me another confusion by your separation of the ideas?

Thats how my brain felt when I read your post.

You have identified trade volume on gox/bitstamp/etc etc denominated in USD is higher than the trade volume in other currencies.

You are attempting to assert something from this. *My* magic 8-ball says "Concentrate and ask again"

Tell me exactly what it is you think it means? From where I am sat, in the context of the thread, the implication is that you think because the trade(s) are in USD then it must be US citizens on both sides.

It's actually pretty amusing for this european (that has struggled on many an occasion, to deal with the fact that all the exchanges insisted on you depositing USD, which meant - for your average european - jumping through hoops, transferring through various dodgy outfits, being gouged for commission, and fees each step of the way just to be able to get dollars onto gox and buy some coins) to see the tables turned.

Having pointed out how dimwitted it would be to assume that a USD trade means no aliens were involved, you have no choice but to try and pretend you thought something else (or just accept you did a booboo), so you'll come up with some flimsy bullshit about how you meant something else, but alas I already called you on that. So really your best course of action then will be to pretend you never noticed this reply, and ignore that too. Oh but now you can't really do that either as it would also prove me right. That only leaves going full retard. Which I expect in 3... 2... 1...

[derpinheimer]

YW

But you're going to tell me people are going to incur tons of risk, fees, and delays, just so they can use a USD designated exchange? Riiiiiight.

BTW, here's another treat for you, you poor angry soul...

[LOADING.READY.RUN]

YW

But you're going to tell me people are going to incur tons of risk, fees, and delays, just so they can use a USD designated exchange? Riiiiiight.

BTW, here's another treat for you, you poor angry soul...

You're missing a couple of points: Bitstamp is probably the top address to buy/sell BTC in Europe thanks to fast bank transfers and reasonably good handling. Guess what? Every EUR transfer you make to your Bitstamp account gets directly converted to USD when credited (without fees and at a good rate) and you can only trade in  USD there. No way to disentagle the different currencies there.

And if you want to do short/mid term trading, you practically always will trade BTC/USD because the market depth and action is higher and there are more services available. I for one use Bitfinex, which is only offered in USD.

And for the Google Trends: ever thought about that people will only search "buy bitcoin" if English is their native language? Just try "bitcoin" only and the "world" looks quite different:



No doubt the US are a strong player in the world of bitcoin, but they aren't as singular as your screenshot would make us believe.

[sgbett]

An interesting rebuttal, thanks for posting I was just happy knowing that, as a european, I am pretty much forced to trade in USD (so yes derp, I do "incur tons of risk and fees" just to use a USD exchange - what choice do I have?) I only ever sell in EUR when I want to take some fiat back out via SEPA.

Listen, and understand. That derpinator is out there. It can't be bargained with. It can't be reasoned with. It doesn't feel pity, or remorse, or fear. And it absolutely will not stop, ever, until you are dead tired of it's USA über alles logic.

As I recall, gox pretty much ditched customers in the USA when all the USD issues kicked off. So gox paying out in japan (and europe) is pretty relevant. If one is american, and one still has USD in gox then I suggest one moves with the times.

The premise of this whole line of inquiry was that gox is insolvent. Your point implied that the lack of USD withdrawal was proof of this (or at least indicative that this may be the case). Whereas zanglebert pointed out they were still paying out in japan. I (admittedly somewhat flippantly) pointed out that was the case in europe too.

Both these facts are more indicative that the lack of USD payout is less to do with solvency and more to do with regulatory issues in the relevant country.

You can continue to argue about the size of USD trade in bitcoin. It doesn't change the fact that gox seems to be doing a roaring trade everywhere else.

[Nagle]

Who's buying Bitcoins?  People in China? People stuck on Mt. Gox unable to withdraw? It makes a big difference.

[MAbtc]

Who's buying Bitcoins?  People in China? People stuck on Mt. Gox unable to withdraw? It makes a big difference.

I am curious how much of the market is still being driven by the latter. My feeling is -- less and less. You can see BTCChina volume here: http://bitcoinity.org/markets/btcchina/CNY However, that does not give the whole picture for Chinese exchange.

[sgbett]

Interesting the volume for USD/EUR/GBP following the silk road bust, vs the volume for CNY.

Especially compared to the relative CNY volume recently (baidu hype?)

I dunno what it all means, but its fun!

[cheech300]

Interesting the volume for USD/EUR/GBP following the silk road bust, vs the volume for CNY.

Especially compared to the relative CNY volume recently (baidu hype?)

I dunno what it all means, but its fun!

 

dont know how many times i thought exactly the same!

[PrintMule]

Interesting the volume for USD/EUR/GBP following the silk road bust, vs the volume for CNY.

Especially compared to the relative CNY volume recently (baidu hype?)

I dunno what it all means, but its fun!

I've withdrawn one day before the rise, not my type of fun

[600watt]

Interesting the volume for USD/EUR/GBP following the silk road bust, vs the volume for CNY.

Especially compared to the relative CNY volume recently (baidu hype?)

I dunno what it all means, but its fun!

I've withdrawn one day before the rise, not my type of fun

sold ? noooooo.....  HOLD

[fleabag]

as long as there are holders of bitcoin the pyramid will not collapse.

[crazy_rabbit]

as long as there are holders of bitcoin the pyramid will not collapse.

So, did you just sign up to pop into different threads and say that?