Sunday 16 June 2013

Bitcoin 16 Jun 2013

The current Bitcoin price is $100.98998 breaking into triple digits barely again with an average of $100.44 for the last 24 hours dropping more than $4 from yesterday.  Volume is a 50% less compared to that of yesterday's at 22 892.44.   The market is still on the downward spiral this weekend if the last two weekends are indications.

Blocks    241756
Total BTC    11.294M
Difficulty    15605633
Estimated    19081217 in 164 blks
Network total    137.558 Thash/s
Blocks/hour    7.39 / 487 s

Saturday 15 June 2013

Bitcoin 15 Jun 2013

The current Bitcoin price is $98.4 breaking into double digits again with an average of $104.80 for the last 24 hours.   This is the 3rd week I had absorbed this phenomenon of Bitcoin prices being forced down during the weekend.  Volume is a 25% more compared to that of yesterday's at 39 135.05.   The market is still on the downward spiral this weekend if the last two weekends are indications.

Blocks    241590
Total BTC    11.290M
Difficulty    15605633
Estimated    19030457 in 330 blks
Network total    155.496 Thash/s
Blocks/hour    8.35 / 431 s

Friday 14 June 2013

Bitcoin 14 Jun 2013

The current Bitcoin price is $103 with an average of $105.20 for the last 24 hours.   Prices dropped about $5 dollars, hopefully the phenomenon of huge drops in the weekend won't start.  Volume is a lot more compared to that of yesterday's at 30 813.86.   The market is still quite volatile.

Blocks    241403
Total BTC    11.285M
Difficulty    15605633
Estimated    18901441 in 517 blks
Network total    141.576 Thash/s
Blocks/hour    7.60 / 473 s

With the difficulty going up to 18901441 in 517 blocks, I guess it will really discouraged whatever left of GPU miners.   Only ASICs can still have a chance to earn money, that is provided there are reliable sources.

Thursday 13 June 2013

Bitcoin 13 Jun 2013

The current Bitcoin price is $108.2 with an average of $109.27 for the last 24 hours.   Prices are more or less settled in three digits again.  Volume is similar to that of yesterday's at 17582.20.   The market is still quite volatile.

Blocks    241215
Total BTC    11.280M
Difficulty    15605633
Estimated    18617814 in 705 blks
Network total    162.324 Thash/s
Blocks/hour    8.72 / 413 s

Wednesday 12 June 2013

Bitcoin 12 Jun 2013

The current Bitcoin price is $108.58277 with an average of $106.85499 for the last 24 hours.   Prices are more or less settled in three digits again.  Volume is 20% of yesterday's at 17420.20.   The market is still quite volatile.

Blocks    240989
Total BTC    11.275M
Difficulty    15605633
Estimated    18259206 in 931 blks
Network total    165.895 Thash/s
Blocks/hour    8.91 / 404 s

Tuesday 11 June 2013

Bitcoin 11 Jun 2013

The current Bitcoin price is $105.6366 with an average of $105.49 for the last 24 hours.   Prices are increasing about $5 from yesterday's.  Volume is half at 64,746.72.   The market is still extremely volatile.

Blocks    240838
Total BTC    11.271M
Difficulty    15605633
Estimated    17898580 in 1082 blks
Network total    122.623 Thash/s
Blocks/hour    6.59 / 547 s

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Monday 10 June 2013

Bitcoin 10 Jun 2013

The current Bitcoin price is $101.43502 with an average of $98.08 for the last 24 hours.   Prices are fluctuating a lot yesterday with a low of $88.  Volume is extremely high at 148,133.04.  This is about eight times that of yesterday, maybe someone is throwing Bitcoins into the market for cash.   Extreme volatility for the last few days.

Blocks    240648
Total BTC    11.266M
Difficulty    15605633
Estimated    17555266 in 1272 blks
Network total    123.571 Thash/s
Blocks/hour    6.64 / 542 s

Sunday 9 June 2013

Bitcoin Low at $88

Bitcoin broke $90 earlier with a trough of $88 before climbing back to $91, situation is still very uncertain at the moment.  But from what I see, there are far more buyers than sellers.   I guess the worse is over.  But we need to monitor.  Bitcoin is extremely volatile due to the small size of its economy and relatively few users still.   We need to strengthen our Bitcoin community and encourage more transactions using Bitcoin and also raise the awareness of Bitcoin before the price can stabilize.

Bitcoin Broke $100

Bitcoin broke $100 at the current pricing of $99.26001 on heavy volume 65,655.69.  This is really not a good sign :( .  Analysis of the Buy and Sell order really do not detect any good support lines.

Bitcoin Crash to $100

Goodness I saw it at $109 in the morning and now the price is $100, in the morning there are still pillars of 20 000 coins to support the prices.  Now looking at the graphs the Walls all but disappears.   Instead we are looking at Sell Walls of about 5000 coins each at $120 and $130.  Support levels only at $98.10 with 4000 coins.   Are we looking at a crash?


Bitcoin 9 Jun 2013

The current Bitcoin price is $108.39999 with an average of $109.02 for the last 24 hours.   Prices are about $1 off from yesterday.  Volume stands at 18936.28.  This is low volume.   We can see a buy order of about 18000 at $106.18 hopefully this supports the Bitcoin prices.

Blocks    240493
Total BTC    11.262M
Difficulty    15605633
Estimated    17248209 in 1427 blks
Network total    149.451 Thash/s
Blocks/hour    8.03 / 448 s

Saturday 8 June 2013

Bitcoin 8 Jun 2013

The current Bitcoin price is $110.99998 with an average of $112.85 for the last 24 hours.   Prices fall back to nearly $110, a large drop from yesterday.  Volume stands at 74975.00.   This is about 3.5 times that of yesterday, heavy volume with such drop in prices isn't good.

Blocks    240315
Total BTC    11.258M
Difficulty    15605633
Estimated    16670327 in 1605 blks
Network total    136.609 Thash/s
Blocks/hour    7.34 / 491 s

Friday 7 June 2013

Bitcoin Price Drop 7 Jun 2013

Bitcoin has been on the downward slope for about two weeks going down from about $130 to $110, I don't see much bad news in fact a lot of positive factors instead.  I guess the drop is due to speculation.   Hopefully everyone hold their breathe, do not panic and sell!


Bitcoin 7 Jun 2013

The current Bitcoin price is $119 with an average of $119.60 for the last 24 hours.   Prices fall back below $120 again.  Volume stands at 22 767.66.

Blocks    240163
Total BTC    11.254M
Difficulty    15605633
Estimated    16389987 in 1757 blks
Network total    134.513 Thash/s
Blocks/hour    7.22 / 498 s

Thursday 6 June 2013

Bitcoin 6 Jun 2013

The current Bitcoin price is $121.90959 with an average of $121.46 for the last 24 hours.   This is an increase of about 50 cents from yesterday which is a very tight range.   I hope that Bitcoin is stabilizing after 3 days of up and down.   Volume stands at 16 601.88.

Blocks    239973
Total BTC    11.249M
Difficulty    15605633
Estimated    15823621 in 1947 blks
Network total    126.256 Thash/s
Blocks/hour    7.27 / 495 s

For news, Forbes carried an article about Bitcoin Mixing services.  It is talking about the regulation of Bitcoin.  If the registrations are tight, the issue of Mixing services such that the Bitcoin is transferred over many accounts causing the original account to be untraceable.  These services are also known as Bitcoin laundry services.   Zerocoin which is developed by John Hopkins University is another way of doing it just that it does not require the providers.

Wednesday 5 June 2013

Bitcoin 5 Jun 2013

The current Bitcoin price is $121.38534 with an average of $121.07 for the last 24 hours.   Bitcoin prices rebound about $3 from yesterday.   Volume stands at 21 807.80. Volume is lower than yesterday.   Hashing rate has increased tremendously to 144 Th/s

Blocks    239792
Total BTC    11.245M
Difficulty    12153412
Estimated    15433515 in 112 blks
Network total    144.536 Thash/s
Blocks/hour    9.97 / 361 s

Tuesday 4 June 2013

Bitcoin 4 Jun 2013

The current Bitcoin price is $122.49999 with an average of $118.89 for the last 24 hours.   Bitcoin prices are firming up from yesterday's fall.   Volume stands at 30 559.36.  There is quite a nice rebound from yesterday's steeper than usual fall

Blocks    239556
Total BTC    11.239M
Difficulty    12153412
Estimated    14917989 in 348 blks
Network total    132.867 Thash/s
Blocks/hour    9.16 / 393 s

Hash rates has increased amazingly to 132.867 Th/s.

Monday 3 June 2013

Bitcoin 3 Jun 2013

The current Bitcoin price is $119.995 with an average of $121.92 for the last 24 hours.   Quite a fall from yesterday.   Volume stands at 102 836.55.   This is quite worrying as the fall comes with quite a heavy volume.   I don't really see any reason for the fall.

Blocks    239383
Total BTC    11.235M
Difficulty    12153412
Estimated    14479333 in 521 blks
Network total    133.035 Thash/s
Blocks/hour    9.17 / 392 s

Sunday 2 June 2013

Bitcoin 2 Jun 2013

The current Bitcoin price is $129.29982 with an average of $128.42 for the last 24 hours.   A deviation of about $0.5 compared to yesterday.   This is a very tight range.   Volume stands at 6880.95.   This is only about one third of yesterday's

Blocks    239173
Total BTC    11.229M
Difficulty    12153412
Estimated    14050417 in 731 blks
Network total    140.603 Thash/s
Blocks/hour    9.70 / 371 s

Saturday 1 June 2013

Bitcoin 1 June 2013

The current Bitcoin price is $128.96 with an average of $128.16 for the last 24 hours.   A deviation of about $1 compared to yesterday.   Volume stands at 16 737.25.

Blocks    238960
Total BTC    11.224M
Difficulty    12153412
Estimated    13330093 in 944 blks
Network total    112.252 Thash/s
Blocks/hour    7.74 / 465 s

The Sydney Morning Herald had an article A virtual currency loved by geeks is fast becoming the currency for crooks.   The article was telling about Cocaine and other drugs that can be easily purchased using Bitcoin anonymously.   It takes about the growing concerns regarding the use of Bitcoin by criminals and money launderers.   It also gave examples of how Bitcoin is used legitimately in Australia to buy anything from meat to books.  But there are still huge concerns over the illegal activities. 

''Criminals have been using Bitcoins for some time because it is not regulated and it's not controlled. There is also a huge jurisdiction issue because it's online.

There was a special mention about the trading of online gaming stuff using virtual currencies and how it is extremely tough to police such activities.   This is where virtual currency is used to purchase online virtual items and then sold to other players for "clean money".   Overall I would say it is a fair article with the pros and cons of Bitcoin.