Re: Bitcoin at $600 dollars

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I'd say the silkroad bust increased illegal business on TOR, the news reached many people that probably didn't know TOR stuff existed. Then with minimal effort, they can proceed to find other market place such as "sheep market" or BMR.

Not sure, transaction volume isn't actually going up though.

Quote from: cho on November 18, 2013, 02:46:38 PM

The facts that the price is higher on BTC China, and that BTC China has taken such a huge share of bitcoin trade, let me think China is leading the raise.

I agree with this. China is leading the rise, because they're discovering Bitcoin. But as I said, it's rising too quick, same as when the west discovered bitcoin in 2011 causing the first bubble.

um transaction has gone WAY up compared to before silkroad bust:
http://blockchain.info/charts/n-transactions-excluding-popular

I stand corrected. I should have said something more along the lines of "transaction volume isn't going up at anywhere near the same rate as the price"

Still though, the transaction volume is only 15% higher than in April so doesn't fully explain the 100%+ increase in price.