...organic demand is high and there is no leveraging bubble.
What is the volume on Coinbase right now?
Can't people use Coinbase to move from fiat to BTC to move the BTC to bet margin at other margin sites with the BTC? So can't it be a precursor?
Who uses Coinbase and why?
BTC/USD $ 2,728,180 $ 462.91
http://coinmarketcap.com/exchanges/coinbase-exchange/
CoinBase links directly to your Bank Account,
currently the easiest and most notable way to get your US$ into BTC and convert your BTC into $Dollars and then directly to your bank account.
At the moment, they don't really have any competition or at least any that markets their services very well.
FYI: Trading Pairs
BTC/USD
BTC/CAD
BTC/EUR
BTC/GBP
Not all Trading Pairs are available in all regions.