Quote from: TheJuice on October 22, 2013, 03:29:37 AM

Quote from: Elwar on October 22, 2013, 03:24:37 AM

Quote from: TheJuice on October 22, 2013, 03:18:24 AM

This rally/bubble seems to be china-driven.

Makes sense. We are just along for the ride on this one.

You can scream bubble bubble at all of us and we could even agree, but it would not affect the price.

I also think we are seeing casual/hobby mining dying. Very little BTC is being pumped into these companies anymore - the entire summer the mining industry was a suck for BTCs (which then had to be converted to fiat). Now that the ASIC fiasco is winding down and people are realizing its better to buy-hold than speculate on mining we are seeing an increase in price. Very little movement out of BTCs.

Another way to look at it is, the extreme cost of mining discourages miners from selling at lower prices.