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Bitcoins drastically tumbling
- mrspeaker 13y agoI have http://bitcoinwisdom.com/markets/bitstamp/btcusd http://bitcoinwisdom.com/markets/bitstamp/btcusd open on my second monitor. I'll say one thing about bitcoin: it's certainly entertaining!
- blackdogie 13y agoI wonder how easy it would be to manipulate the market of bitcoin. If a few people were selling between each other would they be able to inflate the price ? It's below $500 now, and it peaked at over $900 on mtgox a few hours ago.
- ra 13y agoRight now while the market is ~6 billion US and liquidity is fairly low, it's pretty easy for deep pockets like hedge funds and their ilk to manipulate, as might have happened just now. As Bitcoin grows in market cap, volatility will reduce, quite considerably I think. Eventually BTC might have a very low volatility and become to investors more like gold or silver.
- maxerickson 13y agoThe market is not $6 billion! The notional value of all bitcoin is/was $6 billion. The actual market is some smaller value that you would have to estimate from transaction volume.
- Nursie 13y agoIf anyone didn't see the price changes over the last few days and think "bubble" then.... Whatever you might think about the long term future, prices going up exponentially in the course of a week does not look like sustainable growth to me.
- Xdes 13y agoMining difficulty has been rising exponentially for months. http://bitcoindifficulty.com/ http://bitcoindifficulty.com/
- Nursie 13y agoWhile this is interesting, there's no direct link between that dictates increasing the difficulty has to increase the value, especially as new (ASIC) methods come online. In fact exponential difficulty rising doesn't even necessarily mean more people getting into it, just more people moving to higher hash-rate machines. The opposite may well be true - higher value may well lead to more mining as it becomes economically viable to commit more funds to the activity.
- joosters 13y agoAnyone can call out 'bubble!' on a market. It's the people that correctly predict when the bubble bursts that have any skill. Markets can stay irrational for a very long time...
- Nursie 13y agoThe last week was pretty obviously a market gone nuts, but you're right, calling the moment it will burst (if it ever does) would not be easy.
- joosters 13y agoIt's definitely nuts! I don't own any bitcoin, nor do I plan to, but I can't stop wishing that I bought some when they were worth pennies....
- JulianMorrison 13y agoDoes anyone HFT bitcoins? Would doing that break the block chain?
- maxerickson 13y agoGiven a high volume exchange, the trades would not have to hit the blockchain.
- boon 13y ago"drastically" — ugh.
- nolite 13y agoI don't think $650 a BTC qualifies as a "drastic" tumble. Flagged
- atoponce 13y agoMissing the drastic tumble. $700 yesterday. $700 right now.