Quote from: gmaxwell on December 06, 2013, 04:25:29 PM

Quote from: bill.joy on December 06, 2013, 04:13:55 PM

LTC price thus goes much higher. This is what we've seen in BTCs history.

This is the first time I've heard someone suggest that. I thought it was generally accepted that Bitcoin's price in march was primary related to the increased press Bitcoin received from the cyprus default and bank funds confiscation.

Check out cypherdocs gold down btc up thread where this economic effect was discussed as a possible cause of btc price rise. New people come to btc seeing huge gains. Mining appears on the surface to be easy money. But once people realize mining is a zero sum losing game they move on to straight investment. Wouldn't surprise me if eventually we will see a crypto coin released with a ready made ASIC that goes with it.