Bitcoins at $75



guerilla said:
When supply constrains, parabolic price moves are hard to maintain.

If everyone is holding for price increases (and there is limited supply otherwise) then how will BTC be able to trade at volume?
Also, does anyone know a website where I can see the total amount of BTC in existence, and the daily trading volumes?
Click to expand...

http://blockchain.info/charts
There you go. Everything you could ever want.
 
guerilla said:
When supply constrains, parabolic price moves are hard to maintain.

If everyone is holding for price increases (and there is limited supply otherwise) then how will BTC be able to trade at volume?

Also, does anyone know a website where I can see the total amount of BTC in existence, and the daily trading volumes?
Click to expand...
Don't waste your time. Get back to making money.
 
Before I get back to making money (actually spring cleaning today) did anyone look at the trade volumes at these prices?

Looks like less than 7,500 and sometimes less than 5,000 BTC are being traded daily at these prices over the last 4 days.

I don't know what the "right" volume should be, but that seems low to me. For something with a $1 billion cap, the market is basically $500,000.
 
popularbank2.png
 
guerilla said:
Before I get back to making money (actually spring cleaning today) did anyone look at the trade volumes at these prices?

Looks like less than 7,500 and sometimes less than 5,000 BTC are being traded daily at these prices over the last 4 days.

I don't know what the "right" volume should be, but that seems low to me. For something with a $1 billion cap, the market is basically $500,000.
Click to expand...

So,i went and ran the numbers for the 27th on mtgox.

Total volume tradet over the day was 71948 btc.

first candle open: 78.4300
first candle close: 79.9700

last candle open: 89.001
last candle close: 89.002

Comes out to a +13.47% gain over the day on a volume of 71948 btc tradet which has a value of $6.403.515,896 at price of last candle close.

Given a $1Bn market cap at current prices, above numbers present a 0.6403% of market cap.

So, in other words a daily trading volume of 0.6403% of market cap resulted in a 13.47% move of price. Other days show similar numbers.

This is not how a functional and healthy market looks like. And this is because it's not. 99% of the market is hording, everyone waiting for this thing to hit 100k and cash out as a billionair.
Beside the black market, nobody is spending this shit. Why pay for a 10$ anon domain or hosting with btc when you can do the same with a gift card with less hassle ?
System D you say ? I say bullshit. System D gives a shit about bitcoin, the federal reserve or any other first world problems. They live on 1-5 bucks a day from hand to mouth, cash works prefect for them to buy their cup of noodles at the end of the day.

Another interesting number:
I toke the 414 richest Bitcoin addresses here https://bitcointalk.org/index.php?topic=92423.0 and ran them thru a bash one-liner and came up with the number of: 3614368 BTC.
Taking into account the 10963000 BTC mined to date, this shows that 32.96% of all bitcoins are in the hand of 413 wallets.

I love Bitcoin. I really do. But one must be aware of its highly speculative nature. At this point in time it is nothing more then a big experiment. If you want to speculate in BTC, by all means go for it, i did.
If it serves one day as a "currency", well we will see, but talking about it as such right now .... not in my book.

My 2 cents for what's it worth.
 
You must log in or register to reply here.
Top Bottom