The Bitcoin exchange market is confusing the hell out of me.
Who makes up the majority of people behind so much of the volume lately (say, since February)?
1) Low income individuals, college students, and young people living with their parents?
2) Medium income individuals, professionals, and high-demand skilled laborers?
3) High income individuals, business owners, and trust fund babies?
4) Paul Krugman?
1, 2, 3. I suspect mainly 2 at this point.
Why have people been buying lately?
1) Trying to obtain a profit by short-term and medium-term trading?
2) Thinking of Bitcoin as a long-term investment (like gold), will sit on it for years, and rarely check the exchange price?
3) Buying small amounts (relative to income) to see what all the fuss is about, and maybe donate or gamble some?
4) To immediately spend on goods and services that some may frown upon (drugs, etc)?
Pretty much all of the above, I suspect the majority of coins are in section (2), but the majority of people in (1) and (3).