Bitcoin price discussion and analysis

[greggles]

The Bitcoin juggernaut just keeps on powering forward. Sub US$10,000 to US$16,000 in a week with little sign of slowing down.

 

[SuperGlue]

"..why are prices higher in India than elsewhere? "
"...Bitcoin price in the country up to 20% higher than international prices."
http://www.bbc.com/news/world-asia-india-42266568

Arbitrage trading anyone?

 

[Wysiwyg]

Looks like an impalement is happening. Oh it is so so eventual.

 

[greggles]

Looks like an impalement is happening. Oh it is so so eventual.

These intraday swings are incredible. $14,500 to $17,000, then down to $15,000, back to $17,000 and then down again to 14,500, right where we started. At the moment, Bitcoin is just a giant roller coaster ride.

 

[Wysiwyg]

My FX broker has the BTC/USD Daily High at $16635.71. No central exchange yet so I suppose the price varies quite a bit.

 

[Smurf1976]

Roughly 17 million Bitcoin in circulation and valued at say $15,000 each so that's about $250 billion.

That's not massive but it's equivalent to more than half the market cap of Berkshire Hathaway, Amazon or ExxonMobil so it's of at least some significance now.

If the price went to $50,000 which doesn't seem out of the question given recent moves then based on a quick Google search that's about 1% of annual global GDP and a greater valuation than any publicly listed company.

Or you could say it's equivalent to the entire worldwide production of oil for about 6 weeks.

Just an observation that this is becoming rather significant in terms of the actual $ value involved both in absolute terms and relative to other things.

 

[Wysiwyg]

These intraday swings are incredible. $14,500 to $17,000, then down to $15,000, back to $17,000 and then down again to 14,500, right where we started. At the moment, Bitcoin is just a giant roller coaster ride.

In trading parlance, the range has become extreme. My hat doffed to Life Choices for that discussion back at BTC $4500.

 

[Smurf1976]

Or you could say it's equivalent to the entire worldwide production of oil for about 6 weeks.

Clarification - that's at $15,000 per Bitcoin.

 

[greggles]

Bitcoin continues its run north today. On the verge of cracking US$17,000.

 

[cutz]

Had a look at Bitcoin futures ( XBTF8 ),

What keeps the price pegged to the underlying ( well sort off ) ?

Normally on other cash settled futures markets professionals will keep prices in check by selling (buying) the future and buying (selling) the underlying, forcing the two together after pricing in dividends / interest rates ect.

How does this work with bitcoin ??

 

[tech/a]

Interesting

I think there is a great opportunity here and it’s not short
It’s not necessarily pegged to Bitcoin alone!

 

[notting]

I see a great opportunity too, and it's not short, it's GOLD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
All the logic is about central banks and an independent easily exchangable value.
Well what is bloody wrong with Gold!?
Oh, it's not something easily used in boarder-less transactions. Well actually it is but OK technically it's physical, even though it isn't in most ways it's traded!

So if Gold isn't going off the charts or at least tracking this trend to some degree then something is seriously out of whack! That'd be Bitcoin.
So let all the people who couldn't create a wallet buy it through the new contract. Then dump on it! Shouldn't take too long.

 

[sptrawler]

Can I buy a burger at macca's, with bitcoin?
I really haven't been keeping up with this, can someone point me in the direction, of how to find out what it is?

 

[luutzu]

My brother send this joke.

Marty McFly was wrong to pick up the horse racing Almanac.

 

[So_Cynical]

I see a great opportunity too, and it's not short, it's GOLD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
All the logic is about central banks and an independent easily exchangable value.
Well what is bloody wrong with Gold!?

BTC is a massive bubble, will come screaming down soon enough, as a currency its a total failure.

My idea is Silver, there's lots of it and much of it is in easily identifiable quantity's like junk silver coins etc, so all that is needed are a few depository's and a blockchain central register of sorts and bingo, a digital currency that is actually backed my something.

Sign up to an account, deposit (send in silver) and your account is credited in silver weight, buy and sell whatever online in grams or part there of, a proper real digital currency backed by physical, that is not issued by any govt or authority.
~

 

[tech/a]

There are more and more places accepting Bitcoin as a currency (And others)
You can trade .0001 of your Bitcoin for whatever if your currency is accepted.
I'm considering accepting some Bitcoin as payment for my goods and services.

If people keep buying it and people keep accepting it as a currency and there is
a limited number available then I cant see any reason why it wont continue to
be subject to Supply and Demand pressures just like any other commodity.

If the demand is too great then other currencies also will take a hold.

It wont be long and Govts will be on board.
Which by the way will have a massive effect on any new currency.
Watch what happens if it starts taking away from Govt coffers!
Of all the concerns Govt interference is my greatest.

Perfect------- E commerce is here to STAY!

 

[notting]

If people keep buying it and people keep accepting it as a currency and there is
a limited number available then I cant see any reason why it wont continue to
be subject to Supply and Demand pressures just like any other commodity.

There is no limit to it because there is no limit to the possibility of these types of currencies.
Even the world bank is looking to develop it's own one!
It's worthless!!!

 

[notting]

BOOM -
https://www.cnbc.com/video/2017/12/07/bitcoin-could-be-the-biggest-bubble-in-history--heres-how.html

 

[kid hustlr]

I called IB tonight and before taking me to the switch there's a prompt saying 'if you want to trade bitcoin futures please follow instructions XYZ'

Mania.

Charts all look bullish to me - this has got to end in tears at some stage but at this stage I don't see why you'd short it.

I've been 'half' aware of this stuff for a while but never pulled the trigger to get involved - has proven to be a very financially costly mistake the run up across the crpyto currency space must have changed a lot of lives.

Can't bring myself to participate now

 

[skyQuake]

Charts all look bullish to me - this has got to end in tears at some stage but at this stage I don't see why you'd short it.

Some poor chaps have shorted it
https://www.nsx.com.au/ftp/news/021734516.PDF
This update is from the 30th Nov. Bitcoin has doubled since then!