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Buy when there's blood in the streets (assuming the fundamentals are still good, which it looks like they are...) http://www.bitcoinpulse.com/ http://www.bitco
by lectrick 13y ago
Buy when there's blood in the streets (assuming the fundamentals are still good, which it looks like they are...)
http://www.bitcoinpulse.com/ http://www.bitcoinpulse.com/
- maxerickson 13y agoCan you explain what you consider to be the more important fundamentals for bitcoin?
- nkuttler 13y agoNumber of users.
- mcherm 13y ago1. Number of users holding bitcoins 2. Number of users SPENDING bitcoins to purchase goods 3. Number of merchants accepting bitcoins for goods 4. Total $ value of bitcoins being spent to purchase goods 5. Total $ value of bitcoins being spent to perform international money transfers 6. Amount of press (bad press OK, good press is worth much more) that bitcoins are getting as it drives 1 and 3. I'm sure others have their own list of fundamentals.
- maxerickson 13y agoIs there anybody publishing reliable numbers for any of those?
- Torn 13y agoIMO Bitcoin's limited amount incentivises speculation/hoarding over spending. Dogecoin, on the other hand, with its inflationary approach feels much more like something that can be used as a currency.
- mcherm 13y agoI don't know of anyone. I sometimes estimate (3) and (6) by monitoring news stories. It doesn't give me absolute numbers, but some sense of scale. I sometimes see values reported for (2) or (4) from individual merchants, but they are rarely useful: the merchants report the great response they had in the weekend after first announcing their support for bitcoin, then we never hear numbers again. Occasionally we'll hear from sites like reddit about the total amount of contributions (not exactly goods, but close) being made in bitcoins: these are usually quite disappointing. I can think of no way to monitor (1) and (5) is likely kept secret on purpose. So these are the fundamentals I care about and that I think affect the long-term value of bitcoin (as opposed to its short-term speculative value). But I don't have a way to measure them, except for guessing based on press coverage.
- zanny 13y agohttps://blockchain.info/ https://blockchain.info/
- maxerickson 13y ago6 isn't really measurable as a number. Blockchain doesn't have info for 1,2,3,4 or 5.
- deleted 13y ago[deleted]
- zanny 13y agoIntegrity of the cryptography. It is the backing value of the currency, after all.
- maxerickson 13y agoNo, bitcoin depends on there being a majority of honest (or whatever you want to call it) miners.
- politician 13y ago> honest (or whatever you want to call it) miners "mutually distrustful parties"
- mason55 13y agoOutside of Mt Gox prices haven't really changed since yesterday. The only difference is that Mt Gox's $100 premium is gone now.
- aestra 13y agoIf I recall correctly, prices have dropped around $30 on coinbase in about 24 hours.
- commandar 13y agoCoinbase has already recovered some today. It had dipped below $700 when I woke up this morning.
- lukashed 13y agoOn German marketplace bitcoin.de the price fell from roughly 605€ to 500€ some hours ago, but now it's "back" at 550€.
- dzhiurgis 13y agoBTC-e dropped $100 compared to two days ago. Localbitcoins ~50 pounds compared to two days ago.
- dzhiurgis 13y agoThere could be even more blood on Monday. Short term the price will drop even more dramatically, but once recovered, it should increase more, as main exchanges will get more busy. Or is there a flaw in my logic?
- pmorici 13y agoIf Mt.Gox does implode like a lot of people are expecting then that is going to start a news cycle that is not favorable and probably cause the price to depress for a period. It will be a good time to get in though if you have been looking for a chance to buy at a good price.
- dzhiurgis 13y agoMight be the best to sell on Sunday then.