Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Do you have a better explanation? I don't see any news or rumor that could explain it.
I just posted the explanation Stolfinator. When something like 70% of coins have been mined, price has already hit the bottom as evidenced from the last year, and the upside potential is listed below, we haven't witnessed anything close to a bubble yet:
Incoming $163,000,000,000 market cap and $7700 coins
https://bitcointalk.org/index.php?topic=1235466.0
Well, six months ago 68% of the coins were already mined. Why wasn't the price ~$340 back then?
Didn't investor know then that, within six months, 70% of the coins would be mined?
Whatever the cause for the rally, one thing you should keep in mind: every penny of profit that a bitcoin investor makes can only come from the pocket of another bitcoin investor...
Like money right?
But, on a serious note - seriously trollfi, why/how are you a professor again.. - just NO. If only bitcoiners sell/buy from each other, than the price could not change/surge unless a 100 win the lottery at the same time - it is (and wealth creation in general) NOT a zero sum game, give up marxism already FFS; i guess he can not understand this :-)
There are real, "early laggard" people adopting, and new speculators (call it what you like) pour in fiat "money". I know anecdotes are not statistically relevant, but i personally have 2 friends calling me today (technically, yesterday, it is 2 AM here:-) ) about how to buy BTC. I am kinda of an evangelist, telling every non-comatose living person about BTC, and in the last month had several of them approach me - some after half a year of our "bitcoin speach" about "how to do BTC"; from collegaues, close friends. I do not really read/watch MSM, but here - alas in my surroundings - they slowly start to ask questions about BTC by out of genuine curiosity. So i guess interest IS rising, a lot of new faces in the local bitcoin beer event as well lately!