gizmoh
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April 22, 2014, 01:00:35 PM

I feel like this market is being kept up by hoarding, not by buying. Its almost as if the resistance is coming from an unwillingness to sell more than anything.

Is this not an ultimate sign of a bottom? Price holding even if no fiat is coming? Bitcoin's price kept at $500 by the current adoption of 1 million people? No speculative premium?
I think your 1 million people wallets figure is irrelevant in that we still have this figure in which 90% of bitcoins are held by 500 or so people.

Absolutely.  It's hardly decentralised and is ripe for manipulation at any point by large holders.

And not to mention that Rpietila is in the famous 500 supernodes!  Cheesy