Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

I voted "disagree" on the poll, because i believe there is more HODLING and real economic activity ( BTC is chasing all kinds of goods services, altcoins, bitcoin company stocks ... etc..) then ever b4. the BTC/USD market just dosnt have a big enough float to paint this "high volume" bottom. we'd need some truly horrific news to see this happen, blokchina.info bugging just dosnt cut it.

@stolfi: its always the chinese.

You said it. Wink

I think you may be right tho this time:

Quote from: Franktank on September 20, 2014, 03:58:53 PM

Quote from: RoadStress on September 20, 2014, 12:07:39 PM

Quote from: hdbuck on September 20, 2014, 12:00:43 PM

How Discus Fish Became Chinas Largest Bitcoin Mining Pool

http://www.coindesk.com/chinese-mining-pool-discus-fish-bitcoin/

Lemme guess... AM?! Grin

AM franchises maybe...

Even the Wall Street Journal is considering this rumor:

http://blogs.wsj.com/moneybeat/2014/09/19/bitbeat-more-pain-for-bitcoin-prices-are-chinese-miners-to-blame/

Excerpt: "Still, it is the China theory and it is only a theory that is most intriguing, in part because it explains a striking anomaly in the bitcoin system: That the summer-long price fall has coincided with an explosion in bitcoin mining. Over the same three-month period in which the price dropped from above $600 to below $400, there has been a doubling in the hashrate, a measure of the network-wide computational power with which bitcoin miners compete to solve a mathematical puzzle and win the right to a fresh issuance of 25 new coins at 10-minute intervals. Theres an arms race going on in bitcoin mining. But that begs the question: why would anyone rush to buy mining rigs and pay for ever-greater electricity consumption when both the proportional share and value of the bitcoins you can earn are plummeting?"

Mining company killing the competition.. ^^