

Bitcoin sentiment analysis - basdevries
http://www.bitcoinscope.com/

======
gigq
With everyone anticipating an even bigger crash and given all the bad news in
May it's surprising bitcoin has remained relatively stable.

[http://www.washingtonpost.com/blogs/wonkblog/wp/2013/05/31/w...](http://www.washingtonpost.com/blogs/wonkblog/wp/2013/05/31/why-
didnt-bitcoin-users-freak-out-in-may/)

~~~
mrb
What a surprisingly naive post from Timothy! The reason these events did not
affect Bitcoin's price is simply because they are all (except 1) affecting
mostly the US market, wich is a tiny fraction of the worldwide Bitcoin market.

As to the Coinlab vs. MtGox lawsuit, people know that these companies care
about Bitcoin above anything else, so they won't let the lawsuit affect it.
Eg. if people started panic-selling, you can bet they would work a settlement
to stop the panic.

~~~
lordgilman
> the US market, wich is a tiny fraction of the worldwide Bitcoin market

How do you come to this conclusion? Take a look at the volume on
bitcoincharts. mtgoxUSD is beating the pants off everything in terms of
volume. It also loses tons of volume after the seizure on the 17th. This is
pretty consistent with the idea that most BTCers are in the United States
(most of the exchange volume is BTC<>USD) and their behavior changed
drastically right when Dwolla was seized (the volume died after the 17th).

~~~
mrb
_"How do you come to this conclusion?"_

1\. Why do you equate mtgoxUSD to the US market? The majority of MtGox
customers trading USD are non-americans.

2\. Only ~20% of the Bitcoin connected nodes are located in the USA:
[http://www.zerohedge.com/news/2013-05-27/mapping-bitcoins-
gl...](http://www.zerohedge.com/news/2013-05-27/mapping-bitcoins-global-
adoption)

3\. Only ~9% of the world internet users are americans, making the USA a tiny
market with respect to the potential future of Bitcoin.

4\. bitcoincharts exclude many foreign exchanges (metabank in Russia, where
Bitcoin is HUGE), all private trades (eg. Avalon claimed they sold all the
bitcoins they needed to sell to build their 110nm ASIC at TSMC, to private
buyers in China; the fact they were able to do this with no pb just tells you
how big private trading is in China), etc.

~~~
lordgilman
> The majority of MtGox customers trading USD are non-americans

So why does their volume drop off after the 17th? That's the reason why I
brought that up - only Americans are effected by the Dwolla closure.

------
dhammack
Awesome.

Is there a way to overlay the price? Also, it may be because it has just
launched, but it would be cool to see a longer history with overlaid price.

Why stop at bitcoin? I'm sure the infrastructure you've developed can adapt to
different keywords (company/product names).

~~~
basdevries
I'm not the founder of the site, but Patrick Min is (patrickmin.com). I'm sure
he'll read this!

------
pizza
Aha! When this gets popular and people treat it as the go-to bitcoin oracle,
all I'll need to do is make some Twitter accounts with negative sentiment, and
buy low, and then tweet some positive sentiments, and sell high!

------
calpaterson
This is cool. It would be nice to make it easier to browse positive and
negative tweets/articles

------
pyvpx
that's cool. so, how does it work?

~~~
ZirconCode
I'm interested as-well. At least in sentiment analysis. Library name,
anything~

------
tobykier
needs normalisation so you can see meaningful changes in sentiment.

