7 ms·

Google Trend for "Buy Bitcoin" over last 90 days

63 points by epaga 13y ago

simonrobb 13y ago
Google Trend for "Buy Bitcoin" over last 365 days. Puts the last 90 days in perspective. http://www.google.com/trends/explore#q=Buy%20bitcoin&date=today%2012-m&cmpt=date http://www.google.com/trends/explore#q=Buy%20bitcoin&date=to...
gregory144 13y ago
And for "Sell Bitcoin": http://www.google.com/trends/explore#q=sell%20bitcoin&date=today%203-m&cmpt=date http://www.google.com/trends/explore#q=sell%20bitcoin&date=t...
vomitcuddle 13y ago
https://www.google.com/trends/explore#q=cryptolocker%2C%20buy%20bitcoin&date=today%203-m&cmpt=q https://www.google.com/trends/explore#q=cryptolocker%2C%20bu...
danielq 13y ago
Correlates nicely with its price. Check for example at https://www.bitstamp.net/ https://www.bitstamp.net/
- epaga 13y ago
  Correlates with about a 5-7 day delay due to needing verification before you can purchase. In other words: now is a pretty good time to buy before the crowd arrives that juts heard about bitcoin because of the Senate hearing...
  - SwellJoe 13y ago
    Coinbase removed that delay. It's possible to sign up and buy within a few minutes. The coins are locked in a "pending" state, until you've verified your account quite thoroughly...but, they are bought on your behalf immediately. I think we've seen the spike from the senate hearings already, and have seen the correction afterward...setting a new lower bound for BTC (about $500USD), assuming nothing catastrophic happens. I suspect we're in for another gradual climb with occasional dips and peaks until there's yet another media blitz around it. Whether it will reach a tipping point and become actual, you know, currency, for a large percentage of people is up in the air. But, it's already got some value for a lot of people.
    - jnbiche 13y ago
      I disagree. I think that there will still be a delay of another 3-4 days before the crowd that started getting interested around the senate hearings start to purchase. For one thing, Coinbase has consistently run out of Bitcoins the last few days. For another, I think a lot of folks will make their first purchase on Bitstamp, since it's really the biggest exchange now, and one of the most professionally run.
      - SwellJoe 13y ago
        I've very rarely seen Bitstamp come up in any of these conversations. I know nothing about them...but, looking at their site, I can see that there's no way they will be preferred for first time BTC buyers from the US. It's not even a contest, because Bitstamp isn't even in the running for US buyers. Coinbase will fund your account via ACH from a US bank. Nobody else will. Thus, anybody wanting to start with Bitcoin in the US is going to go with Coinbase. I'm gonna assume you're outside of the US; the difficulty and expense of sending an international wire from a US bank is rarely grasped by people outside of the US. My bank charges $40 for a wire transfer in US dollars, and more for one in the destination currency. My first BTC purchase was only ~$300...the wire transfer would have been more than 10% of that. I agree that Coinbase running out of coins would have had an impact. But, I noticed that they were replenishing them relatively quickly...I tried to make a buy one evening, was told the daily coin limit had been reached, and an hour later was able to buy, and bought a little more the next morning. I suspect they were sitting at their computers all night during the run up to $1000, trying to manage fraud while also trying to buy and sell as many BTC as possible. Anyway, I'd be surprised if there's another big spike...but, a gradual climb back up to $1k and beyond does seem entirely realistic to me.
        waterlesscloud 13y ago
        CampBX also transfers funds in and out via ACH, as well as money orders and domestic wires. They're also a direct exchange, and if they started to run low on coins (thus driving the price higher), someone would happily provide more coins via arbitrage from elsewhere.
  - anon4 13y ago
    > now is a pretty good time to buy Are you bonkers? Price rose nearly 10 times in about a week. That's practically textbook definition of a bubble. Wait until it crashes and comes down to 200$.
philthesong 13y ago
2013 April-March had a similar hype https://www.google.com/trends/explore#q=bitcoin&cmpt=q https://www.google.com/trends/explore#q=bitcoin&cmpt=q
- fat0wl 13y ago
  I think that's the trick with Bitcoin. The price is pretty much solely based on consumer interest. People get mad when I call it a scheme (they claim to be all hyped on tech & I'm not). Look the tech is fine (digital currency) but the way they set it up all pump-and-dump with diminishing returns is messy. That whole "deflationary" scheme or whatever they call it to make it sound like an economist would approve of it really just turns the whole thing into "Bitcoin is great as long as you can find a sucker to buy it when it's time to dump it". Terrible as a currency and even if you gain it will be at someone else's loss. This guy's numbers aren't perfect but the article shows some key points about how the Bitcoin ecosystems numbers are kinda made up and the ecosystem is flawed as a trading platform (which is all it really is now). http://falkvinge.net/2013/09/13/bitcoins-vast-overvaluation-seems-to-be-caused-by-usually-illegal-price-fixing/ http://falkvinge.net/2013/09/13/bitcoins-vast-overvaluation-...
  - tlrobinson 13y ago
    Two points: 1) Regarding volatility, I compare Bitcoin to what would happen if a small startup were publicly traded - of course it's going to be volatile. Over time the bubbles will get less bubbly and the price will smooth out. This is already happening, even if it doesn't seem like it. 2) Bitcoin is not just a currency, it's a distributed ledger which can be used to track ownership of any virtual or even physical property, including other currencies. There are a number of people working on these layers on top of Bitcoin already. Eventually you'll be able to get some of the advantages of Bitcoin-the-distributed-ledger without being exposed to Bitcoin-the-currency (expect perhaps for transaction fees).
  - mrb 13y ago
    "if you gain it will be at someone else's loss" With a perfectly deflationary currency, this is false. And the yearly average Bitcoin exchange rate has shown to be perfectly deflationary, so far. And this can go on forever as long as the gross product of the Bitcoin economy grows (even slightly) year after year. In other words: if everyone who bought bitcoins averaged their buys over one year, and held them for at least one year, they would have made money: - the average price of a Bitcoin in 2010 was $0.05 (order of magnitude) - the average price of a bitcoin in 2011 was $5 (order of magnitude) - the average price of a bitcoin in 2012 was $10 (order of magnitude) - the average price of a bitcoin in 2013 was $100 (order of magnitude)
deleted 13y ago
[deleted]
3pt14159 13y ago
This is wrong. Need to put them in quotes like so: http://www.google.com/trends/explore#q=%22buy%20bitcoin%22&date=today%2012-m&cmpt=date http://www.google.com/trends/explore#q=%22buy%20bitcoin%22&d... and for the sell side: http://www.google.com/trends/explore#q=%22sell%20bitcoin%22&date=today%2012-m&cmpt=date http://www.google.com/trends/explore#q=%22sell%20bitcoin%22&...
- croddin 13y ago
  Or both compared: http://www.google.com/trends/explore?q=%22buy+bitcoin%22%2C+%22sell+bitcoin%22 http://www.google.com/trends/explore?q=%22buy+bitcoin%22%2C+...
  - tempestn 13y ago
    Of course, one would expect there to be more search traffic for "buy bitcoin" than for "sell bitcoin", regardless of the actual demand for bitcoins, since most people would want to learn how to buy first, and in the process would also learn how to sell.
chill1 13y ago
Google trends rate limits you fairly quickly it seems. If you post a google trend graph, please post a link to a static image representation as well.
deleted 13y ago
[deleted]
nikcub 13y ago
Bitcoin price is heavily influenced by public interest, which will show up in Google Trends and some other places I used Trends, MtGox order data and a few other variables plugged into a spreadsheet that I updated every hour to successfully trade through the last Apr-March bubble and exit 6-12 hours from the top[0]. It doesn't work as well during this price hike, since the growth is coming from places that we can't see as well and aren't as transparent. [0] https://twitter.com/nikcub/statuses/321811312587972609 https://twitter.com/nikcub/statuses/321811312587972609
- fragsworth 13y ago
  > It doesn't work as well during this price hike since the growth is coming from places that we can't see as well and aren't as transparent. I'm pretty sure it didn't work during this publicity wave because it was so large and fast that many U.S. sellers ran out of coins (including Coinbase).
junto 13y ago
I'd like to see the equivalent search in Chinese.
- luikore 13y ago
  http://www.google.com/trends/explore#q=%E6%AF%94%E7%89%B9%E5%B8%81&date=today%203-m&cmpt=date http://www.google.com/trends/explore#q=%E6%AF%94%E7%89%B9%E5... 买(buy)比特币 or 卖(sell)比特币 search volume too low.
phryk 13y ago
This link made me realize that Alaska is fucking huge.
- joshuahedlund 13y ago
  Alaska is very large, but there is some exaggeration at the north and south ends due to the choices this map style makes to flatten a sphere into a rectangle[1] [1]http://en.wikipedia.org/wiki/Mercator_projection#Uses http://en.wikipedia.org/wiki/Mercator_projection#Uses
saynototoymoney 13y ago
if google trends is your criteria for investing you should probably go long justin bieber.

63 points by epaga 13y ago

Google Trend for "Buy Bitcoin" over last 365 days. Puts the last 90 days in perspective. http://www.google.com/trends/explore#q=Buy%20bitcoin&date=today%2012-m&cmpt=date http://www.google.com/trends/explore#q=Buy%20bitcoin&date=to...

gregory144 13y ago

And for "Sell Bitcoin": http://www.google.com/trends/explore#q=sell%20bitcoin&date=today%203-m&cmpt=date http://www.google.com/trends/explore#q=sell%20bitcoin&date=t...

vomitcuddle 13y ago

https://www.google.com/trends/explore#q=cryptolocker%2C%20buy%20bitcoin&date=today%203-m&cmpt=q https://www.google.com/trends/explore#q=cryptolocker%2C%20bu...

danielq 13y ago

Correlates nicely with its price. Check for example at https://www.bitstamp.net/ https://www.bitstamp.net/

epaga 13y ago
Correlates with about a 5-7 day delay due to needing verification before you can purchase. In other words: now is a pretty good time to buy before the crowd arrives that juts heard about bitcoin because of the Senate hearing...
- SwellJoe 13y ago
  Coinbase removed that delay. It's possible to sign up and buy within a few minutes. The coins are locked in a "pending" state, until you've verified your account quite thoroughly...but, they are bought on your behalf immediately. I think we've seen the spike from the senate hearings already, and have seen the correction afterward...setting a new lower bound for BTC (about $500USD), assuming nothing catastrophic happens. I suspect we're in for another gradual climb with occasional dips and peaks until there's yet another media blitz around it. Whether it will reach a tipping point and become actual, you know, currency, for a large percentage of people is up in the air. But, it's already got some value for a lot of people.
  - jnbiche 13y ago
    I disagree. I think that there will still be a delay of another 3-4 days before the crowd that started getting interested around the senate hearings start to purchase. For one thing, Coinbase has consistently run out of Bitcoins the last few days. For another, I think a lot of folks will make their first purchase on Bitstamp, since it's really the biggest exchange now, and one of the most professionally run.
    - SwellJoe 13y ago
      I've very rarely seen Bitstamp come up in any of these conversations. I know nothing about them...but, looking at their site, I can see that there's no way they will be preferred for first time BTC buyers from the US. It's not even a contest, because Bitstamp isn't even in the running for US buyers. Coinbase will fund your account via ACH from a US bank. Nobody else will. Thus, anybody wanting to start with Bitcoin in the US is going to go with Coinbase. I'm gonna assume you're outside of the US; the difficulty and expense of sending an international wire from a US bank is rarely grasped by people outside of the US. My bank charges $40 for a wire transfer in US dollars, and more for one in the destination currency. My first BTC purchase was only ~$300...the wire transfer would have been more than 10% of that. I agree that Coinbase running out of coins would have had an impact. But, I noticed that they were replenishing them relatively quickly...I tried to make a buy one evening, was told the daily coin limit had been reached, and an hour later was able to buy, and bought a little more the next morning. I suspect they were sitting at their computers all night during the run up to $1000, trying to manage fraud while also trying to buy and sell as many BTC as possible. Anyway, I'd be surprised if there's another big spike...but, a gradual climb back up to $1k and beyond does seem entirely realistic to me.
      - waterlesscloud 13y ago
        CampBX also transfers funds in and out via ACH, as well as money orders and domestic wires. They're also a direct exchange, and if they started to run low on coins (thus driving the price higher), someone would happily provide more coins via arbitrage from elsewhere.
- anon4 13y ago
  > now is a pretty good time to buy Are you bonkers? Price rose nearly 10 times in about a week. That's practically textbook definition of a bubble. Wait until it crashes and comes down to 200$.

philthesong 13y ago

2013 April-March had a similar hype https://www.google.com/trends/explore#q=bitcoin&cmpt=q https://www.google.com/trends/explore#q=bitcoin&cmpt=q

fat0wl 13y ago
I think that's the trick with Bitcoin. The price is pretty much solely based on consumer interest. People get mad when I call it a scheme (they claim to be all hyped on tech & I'm not). Look the tech is fine (digital currency) but the way they set it up all pump-and-dump with diminishing returns is messy. That whole "deflationary" scheme or whatever they call it to make it sound like an economist would approve of it really just turns the whole thing into "Bitcoin is great as long as you can find a sucker to buy it when it's time to dump it". Terrible as a currency and even if you gain it will be at someone else's loss. This guy's numbers aren't perfect but the article shows some key points about how the Bitcoin ecosystems numbers are kinda made up and the ecosystem is flawed as a trading platform (which is all it really is now). http://falkvinge.net/2013/09/13/bitcoins-vast-overvaluation-seems-to-be-caused-by-usually-illegal-price-fixing/ http://falkvinge.net/2013/09/13/bitcoins-vast-overvaluation-...
- tlrobinson 13y ago
  Two points: 1) Regarding volatility, I compare Bitcoin to what would happen if a small startup were publicly traded - of course it's going to be volatile. Over time the bubbles will get less bubbly and the price will smooth out. This is already happening, even if it doesn't seem like it. 2) Bitcoin is not just a currency, it's a distributed ledger which can be used to track ownership of any virtual or even physical property, including other currencies. There are a number of people working on these layers on top of Bitcoin already. Eventually you'll be able to get some of the advantages of Bitcoin-the-distributed-ledger without being exposed to Bitcoin-the-currency (expect perhaps for transaction fees).
- mrb 13y ago
  "if you gain it will be at someone else's loss" With a perfectly deflationary currency, this is false. And the yearly average Bitcoin exchange rate has shown to be perfectly deflationary, so far. And this can go on forever as long as the gross product of the Bitcoin economy grows (even slightly) year after year. In other words: if everyone who bought bitcoins averaged their buys over one year, and held them for at least one year, they would have made money: - the average price of a Bitcoin in 2010 was $0.05 (order of magnitude) - the average price of a bitcoin in 2011 was $5 (order of magnitude) - the average price of a bitcoin in 2012 was $10 (order of magnitude) - the average price of a bitcoin in 2013 was $100 (order of magnitude)

deleted 13y ago

[deleted]

3pt14159 13y ago

This is wrong. Need to put them in quotes like so: http://www.google.com/trends/explore#q=%22buy%20bitcoin%22&date=today%2012-m&cmpt=date http://www.google.com/trends/explore#q=%22buy%20bitcoin%22&d... and for the sell side: http://www.google.com/trends/explore#q=%22sell%20bitcoin%22&date=today%2012-m&cmpt=date http://www.google.com/trends/explore#q=%22sell%20bitcoin%22&...

croddin 13y ago
Or both compared: http://www.google.com/trends/explore?q=%22buy+bitcoin%22%2C+%22sell+bitcoin%22 http://www.google.com/trends/explore?q=%22buy+bitcoin%22%2C+...
- tempestn 13y ago
  Of course, one would expect there to be more search traffic for "buy bitcoin" than for "sell bitcoin", regardless of the actual demand for bitcoins, since most people would want to learn how to buy first, and in the process would also learn how to sell.

chill1 13y ago

Google trends rate limits you fairly quickly it seems. If you post a google trend graph, please post a link to a static image representation as well.

deleted 13y ago

[deleted]

nikcub 13y ago

Bitcoin price is heavily influenced by public interest, which will show up in Google Trends and some other places I used Trends, MtGox order data and a few other variables plugged into a spreadsheet that I updated every hour to successfully trade through the last Apr-March bubble and exit 6-12 hours from the top[0]. It doesn't work as well during this price hike, since the growth is coming from places that we can't see as well and aren't as transparent. [0] https://twitter.com/nikcub/statuses/321811312587972609 https://twitter.com/nikcub/statuses/321811312587972609

fragsworth 13y ago
> It doesn't work as well during this price hike since the growth is coming from places that we can't see as well and aren't as transparent. I'm pretty sure it didn't work during this publicity wave because it was so large and fast that many U.S. sellers ran out of coins (including Coinbase).

junto 13y ago

I'd like to see the equivalent search in Chinese.

luikore 13y ago
http://www.google.com/trends/explore#q=%E6%AF%94%E7%89%B9%E5%B8%81&date=today%203-m&cmpt=date http://www.google.com/trends/explore#q=%E6%AF%94%E7%89%B9%E5... 买(buy)比特币 or 卖(sell)比特币 search volume too low.

phryk 13y ago

This link made me realize that Alaska is fucking huge.

joshuahedlund 13y ago
Alaska is very large, but there is some exaggeration at the north and south ends due to the choices this map style makes to flatten a sphere into a rectangle[1] [1]http://en.wikipedia.org/wiki/Mercator_projection#Uses http://en.wikipedia.org/wiki/Mercator_projection#Uses

saynototoymoney 13y ago

if google trends is your criteria for investing you should probably go long justin bieber.