Bitcoin Forum

Speculate!

This buying seems to be constant and not reckless, it does not look to be driven by "irrational exuberance".

Just give it some more time ;)

Add an option: Media coverage due to Bitcoinica debacle.

small group of people with money who want to buy bitcoin without outrageous price increase.

How about an option "It has been undervalued since last June, the price is finally going back to where it should be"?

"Healthy widening of the user base"

For those who voted that: Is that your mother, aunts and other relatives buying bitcoin and leaving them on a blockchain.info wallet?
How that is that working out for you?

How's the graph of declining nodes explain appreciation of Bitcoin we're seeing past couple months?

It is becoming less and less imperative that you run a node to use bitcoin, since services are popping up which run bitocin for you.

Done. You may recast your votes!

Since Iran has sanctions on them, bitcoin is the only other method to conduct business.

How exactly would that work? Say I am an executive of a factory in Iran weaving fancy carpets that I can't sell in the US or Germany due to trade sanctions. How exactly would Bitcoin help?

Another example - I'm an executive of Iranian Airlines, and western companies are banned from selling me repair parts. How would Bitcoin help me with the maintenance of the fleet?

I know this is the "speculation" board, but we should speculate based on reason and facts.

Weave carpet. Sell for bitcoins. Send carpet to buyer.

Send bitcoins to associate in country with airplane making parts, EG Germany. Associate transfers funds from bitcoins to Euros, buys parts. Associate transports parts to you.

There are lots of ways which bitcoins can be used to move capital around, you just have to be creative.

FYPFY

Um do you get the concept of sanctions.  If Iran could have associates just ship them goods and have foreign ports accept their goods they wouldn't NEED bitcoin.

Sanction means that companies that accept Iranian goods face seizure and arrest by local police.  
Sanctions mean that Iranian cargo can't be unloaded in foreign ports without risk of seizure and destruction.
Sanctions mean that cargo ships carrying Iranian cargo risk being seized during coast guard inspections and held at the owner's loss.  
Sanctions mean that the airline parts company which sends parts to Iran faces criminal charges and million dollar fines.

Granted people do try to get around sanctions but the idea that somehow accepting bitcoins frees Iran from sanctions is just silly.

I was mostly joking around of course. 

I personally believe it is due to wider adoption but here is another theory you did not present:

A criminal organization has taken note of Bitcoins potential to be used for money laundering and transferring funds within their organization without the prying eyes of banks. In order to effectively do this, Bitcoin must be worth much more than $5-6, so they are injecting fiat into Bitcoin to make it more suitable for that purpose. In order to prevent anyone from taking too much advantage of this and causing a bubble, the capital injection is happening over a long period of time.

*Puts tin foil hat down*

Pretty funny but you may never know lol

Adam.

I have nothing to do with price increase...

I tell people about bitcoin
I get drunk and on the taxi ride back home, I tell they guy about bitcoin
I tell my friends a gr8 buying opportunity is just around the corner
Gold line calls me, I tell them I like my bitcoin better

again, I have nothing to do with the price increase  ;)

I did offer that option, falls under "widening of the user base"... Kidding. Almost.

FTFY

DO NOT DENY IT

I thought he sold?!

just a little

He bought back again, but then he sold again.... Either way I'm keeping my EYES on him!  >.>

I know how he feels. I made a healthy decission to sell at 10.8, then panic bought during that $1 billion glitch.

Anyhow, there have been lots of votes cast by now, and I was thinking... The majority can never be right about the market movements, because they would then act accordingly and cause exactly the opposite. Any majority opinion about the market is a self-destructive prophecy. So, I speculate that options with least number of votes are actually most likely.

noooooooo, exactly the opposite is true.

If everyone thinks it is going to go up then everyone buys and holds --> it goes up
If everyone thinks it is going to go down then everyone sells --> it goes down

It will reach around US$ 15 at Mt.Gox market, then will blow like a true Japanese volcano. US$ 13 is just the vibration which precedes the eruption.

 8)

http://1.bp.blogspot.com/-WzUydKmSeR4/T20VPfqG0MI/AAAAAAAABEc/iE3LH82oNgA/s1600/tumblr_lvfyv0p7Bq1qehntzo1_500.jpg
Ancient fucking aliens, of course!

In retrospect, I failed to include a totally obvious option: single player pump-and-dump. Slowly buy over many weeks, build up confidence, let the herd grow, then dump. The closest option was #4, HYIPs. Curiously, that's got the least votes.

Anyhow, I still think the fundamentals are growing stronger. Lots of great ideas being developed. We'll have to live with pump-and-dump bubbles along the way.

pump and dump. hump and dump.

actually this was a pump for dumps

its the only way to get any good amount of coins these days.  ;)

You got the pump part right lol number of bitcoins on the MT.gox today more then doubled since 11 am