Re: What is causing the spike in Bitcoin value October 2015?
There is a great Zerohedge article about how the chinese are seeing Bitcoin as the salvation to move money quick outside of their frontiers with the ease of a click. Gold tens to show up on x-rays so it's useless. Cash will show up as well, stocks require identification and just don't cut it.. for the first time ever we can move money worldwide through the internet without any credentials. This is just insane and makes Bitcoin cheap at anything under 1 million dollars. I don't care if people call me insane.
Bingo - capital flight: www.sovereignman.com/trends/chinas-communist-party-bans-golf-18166/
"Chinese stocks saw a major collapse several months ago, and we may see a major crisis in the banking sector very soon. Local Chinese with any real savings have been scrambling for months to move their money offshore. And this capital flight is reaching epic levels. In August alone, $141 billion was sucked out of China. Thats more than the entire GDP of Nevada or Ukraine."
Gentlemen? <- Am I doing it right?
