Quote from: Serge on August 24, 2012, 12:42:30 AM

Quote from: Killerpotleaf on August 23, 2012, 11:00:35 PM

Quote from: 0mzUBBru on August 23, 2012, 10:45:57 PM

Quote from: Killerpotleaf on August 23, 2012, 09:54:14 PM

i dont understand why everyone is voting lower

The Bitcoin price is determined by demand and supply. If people want to invest in a HYIP they need Bitcoins, so demand goes up. This results in a price increase.

Back in December 2011 the Bitcoin price was at a local minimum around $2. BTCST was started at about the same time, and we had a constant upward trend since then. This was not only due to BTCST (e.g. SatoshiDICE was lunched in April), but BTCST contributed to the upward trend.

I also discuss this in my medium-term market analysis.

no way can this be the driving force of the entire rally

only 500,000BTC where ever put into this HYIP

I don't believe investing in HYIPs drew the price up but those 500k bitcoins most likely were heavily traded on exchanges before. it is a significant amount that were taken out of exchanges causing supply deficit.
If BTCST continued to operate for another year, word may have gotten out and in about half a year from now we could see new money coming in in order to get bitcoins in to BTCST

~~some~~ a lot of people that hear about bitcoin right away think SCAM!....
your telling me once they hear 7% a week, with compound interest, they think INVESTMENT!

that's it,
beam me up scotty there's no intelligent life down here.