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Author Topic: google trends says there is no fuss at all  (Read 5391 times)
bracek
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August 02, 2012, 02:47:09 PM
 #1

and yet, price has doubled, it is too quiet rise, isn't that weird ?

where are all those news that should be covering this ?
is it a conspiracy ?

I cant believe that only us, (relatively) early adopters are acquiring more of the same,
I recently bought only small amounts for a few friends, under 100 btc in total

what do you think what is happening,
regarding the g trends, it should be showing at least a lagging increase...

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Matthew N. Wright
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August 02, 2012, 02:49:20 PM
 #2

Whenever the price changes rapidly, assume three things:


1) SilkRoad activity

2) Pirate is doing something odd

3) Bit-Pay is cashing out from BFL orders

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August 02, 2012, 02:50:32 PM
 #3

Nothing in the news, because its secret rocket!  Wink
anu
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August 02, 2012, 03:01:57 PM
 #4

and yet, price has doubled, it is too quiet rise, isn't that weird ?

what do you think what is happening,

Increased usage. Simple as that. Just look at Bitmit. These days you can actually cite it in presentations without hoping that nobody would actually go there. And Bitmit is certainly tiny compared to some others.


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oakpacific
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August 02, 2012, 03:03:36 PM
 #5

A well-informed, well-endowed investor would not need to consult Google before he made his decision,  and even if he did, one or two searches  would not influence the trend graph noticeably yet millions of dollars could be pumped in at the same time, and this is just one possibility.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
bracek
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August 02, 2012, 03:06:01 PM
 #6

but, again, why no news ?

it is like bitcoin is put on ignore,
people are certainly talking and taking notice

is mainstream media in secret agreement not to "advertize" ?
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August 02, 2012, 03:12:04 PM
 #7

but, again, why no news ?

it is like bitcoin is put on ignore,
people are certainly talking and taking notice

is mainstream media in secret agreement not to "advertize" ?
What about "it has been here before, and it ain't record breaking time yet"?

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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August 02, 2012, 03:22:46 PM
 #8

but, again, why no news ?

it is like bitcoin is put on ignore,
people are certainly talking and taking notice

is mainstream media in secret agreement not to "advertize" ?
What about "it has been here before, and it ain't record breaking time yet"?

this time is for real Smiley
and breaking 10 usd barrier, nearing 10 mil mined coins, bl-rw halving soon,
should be at least some noise...
those Illuminati are really nasty bunch Smiley
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August 02, 2012, 03:24:33 PM
 #9

there is no media hype, but there has been constant bitcoin exposure on a news type of sites all this year, just checkout Press sub-forum, almost every day someone somewhere talks/publishes something about Bitcoin


other factors in play to consider:
- upcoming block reward halving
- pirate's borrowing operation  which basically took most excess supply under its control causing shortage of asks on exchanges
- and many other opportunities on GLBSE
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August 02, 2012, 03:59:23 PM
 #10

yeah it's not like bitcoin has gone away. it's just been here, still going, for people to think about...

i don't think bitcoin mindshare among people who are really interested in it has gone down. quite the opposite.
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August 02, 2012, 04:04:04 PM
 #11

New investors and funds are attracted all the time. Bitcoin's market potential is faaaaaar from being saturated, you would hardly need any news at all to keep this process going till there would be some equilibrium of easily attracted investors to those which are harder to reach/pursuade to put their money into bitcoin, which then would require some new press in order to reach out to a wider audience/harder to pursuade investors.

Also, there has been sufficient news exposure in the past month to show its effects now over the next month', because to get new investors to actually buy bitcoins on the market, some time has to pass for them to become familiar with the whole bitcoin thing, analyse, read read read and get their money into the exchanges finally. 1 or 2 month at least after some investor first learns about bitcoin.
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August 02, 2012, 04:17:57 PM
 #12

Nothing in the news, because its secret rocket!  Wink


The real rocket would be an institutional buyer. Not 10,000 people buying a bitcoin because they saw it on the TV.

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August 02, 2012, 04:20:48 PM
 #13

Too be honest I think its well bulls gonna be bulls.

So while the total size of the bitcoin community has stayed the same people who already had BTC were buying some more.
I also think this is the most plausible explanation according to occams razor.
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August 02, 2012, 04:48:26 PM
 #14

i always figured google trends represented NEW exposure. i cant remember the last time i googled bitcoin personally, so the fact that its trending as much as it is would tell me that the community is growing.

Avoid the Censored /r/Bitcoin on Reddit.
/r/BTC allows open discussion, and public moderation logs.
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August 02, 2012, 05:06:51 PM
 #15

Too be honest I think its well bulls gonna be bulls.

So while the total size of the bitcoin community has stayed the same people who already had BTC were buying some more.
I also think this is the most plausible explanation according to occams razor.

There seem to be two different variables in your logic:

Why is the price groing up? --> people that know bitcoin already are buying more ACCEPTED

Has the community grown? --> Maybe, maybe not. You cannot answer this question with the first one, because it is unrelated to it. You have already discarded the community growth as solution to your first question. It is therefore a separate question.

*just to jerk around a little*
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August 02, 2012, 05:18:13 PM
 #16

Well, there could be community growth, I don't know that. But I assumed it doesn't grow (or just very slowly) because of the above indicators.

If google trends were going up it would be easy to explain current prices, but with current situation it is not.
I'd say they community is getting more concentrated, that is people who weren't that interested in bitcoin in the first place are leaving and those who are left are getting more into it. (This is confirmed by the "sites accepting BTC" indicator)
chronicaust
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August 02, 2012, 05:23:06 PM
 #17

At about $10.40 we will break the USD $100M market cap. = O
BrightAnarchist
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August 02, 2012, 05:29:12 PM
 #18

but, again, why no news ?
this time is for real Smiley

Agreed.

When "everyone" notices, then that's likely a bubble. When nobody does, then it's an early stage bull market.

Just like the h-omens on the spx the other week... nobody mentioned them, so likely the spx wil go down. Whereas the last time we had h-omens, everybody noticed them and they were front page news, so of course the market went up.

Funny how that works.
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August 02, 2012, 05:31:09 PM
 #19

Well, there could be community growth, I don't know that. But I assumed it doesn't grow (or just very slowly) because of the above indicators.

If google trends were going up it would be easy to explain current prices, but with current situation it is not.
I'd say they community is getting more concentrated, that is people who weren't that interested in bitcoin in the first place are leaving and those who are left are getting more into it. (This is confirmed by the "sites accepting BTC" indicator)

Why does the number of people googling bitcoin have to go up for bitcoin to grow?  How often do you search for bitcoin.  I know I haven't in quite some time.  Only new users search for it, not those who have found it.

If google searches were increasing, I'd interpret that as an increase in the rate of adoption.  Right now the rate is a constant slow and steady, which is much healthier anyway.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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August 02, 2012, 05:31:57 PM
 #20

At about $10.40 we will break the USD $100M market cap. = O

That number is somewhat hypothetical since a wide majority of bitcoins were never sold in the first place.

A better market cap figure would be something like 21M*(all btc ever sold)*(prices they were sold at)/(currently currently issued btc)
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