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Author Topic: Rally!!  (Read 6681 times)
P4man
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January 01, 2012, 09:56:24 AM
 #81

A year ago, btc was trading at $0.292, with a total valuation of $1.4M.  Now, seemingly every week, a buy for $50k-$250k USD worth of coins happens.  Pretty nifty.

You are assuming all new minted coins end up being available for sale. I think this is very, very far from the truth. My guess is at least 90% of all coins is not for sale, and just being hoarded regardless of exchange rates. That means the influx of money is vastly smaller, at least proportionally to this hoarding rate. Some small indication to back up my gut feeling here:
https://bitcointalk.org/index.php?topic=56128.0

My coins are not for sale, not if the price goes to $100 tomorrow, not if it drops to $0.1. And yet In a few years time I might decide to get out and sell at either of those prices.  I think this is not an exception but rather the rule, so you could say the current BTC price is all but meaningless;  its just a reflection of the sentiment traders have about the sentiment of other traders. And those are trading a tiny fraction of the all BTCs. No wonder its so volatile.

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January 01, 2012, 03:10:02 PM
 #82

A year ago, btc was trading at $0.292, with a total valuation of $1.4M.  Now, seemingly every week, a buy for $50k-$250k USD worth of coins happens.  Pretty nifty.

You are assuming all new minted coins end up being available for sale. I think this is very, very far from the truth. My guess is at least 90% of all coins is not for sale, and just being hoarded regardless of exchange rates. That means the influx of money is vastly smaller, at least proportionally to this hoarding rate. Some small indication to back up my gut feeling here:
https://bitcointalk.org/index.php?topic=56128.0

My coins are not for sale, not if the price goes to $100 tomorrow, not if it drops to $0.1. And yet In a few years time I might decide to get out and sell at either of those prices.  I think this is not an exception but rather the rule, so you could say the current BTC price is all but meaningless;  its just a reflection of the sentiment traders have about the sentiment of other traders. And those are trading a tiny fraction of the all BTCs. No wonder its so volatile.


he sees the light! Smiley Smiley Smiley
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January 01, 2012, 03:10:29 PM
 #83

[insert formula 1 pic]
ineededausername
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January 01, 2012, 03:12:57 PM
 #84

Haha, nice rally guys.  Almost back to pre-rally prices.

Famous last words with hindsight. Grin

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