Dumping equal amounts of money into a falling market at regular intervals is a much better strategy than going all in where you think the bottom is.

What is the ft magazine?

i bought again

Don't care too much about short-term wiggles. My play is on weeks/months.

Hashrate has an effect on price, no doubt about it.  

During the time between October 2010 and March 2011 Hashrate drove up price. (Contrary to your observation) The first publically available GPU mining software came online during this time Difficulty increasing changed the CPU miner's landscape, demand to buy XBT drove price to $1USD. ( a growth stage)  

Mid  January, Avalon ships first ASIC, Prise starts accelerating. Anticipation of increased Hashrate, drove up demand and Price (contrary to your observation) but consistent with March 2011 Hasrate increasing driving price. (a growth stage)

We are in a consolidation stage mining supply and demand equilibrium is being reached (...)

2011 survivors know better. Both during the periods of overvaluation and undervaluation.

You want Bitcoin to lose 500 million in value just so you can buy a few cheap coins? Are you serious? I understand people are greedy but that greedy!?

Everyone is being played by the whales, it is comical to watch.   They know their time is limited, so they just keep pushing down the price to acquire more while they can.

Ok now we're at 104.
That was really worth it

You could say it's less obvious but we both are stuck having to explain the complete divergence occurring this very moment between the two.

Ok.

Let's look at the period between November 2011 and December 2012.

I contend that the hashrate was going straight up while the price kind of bumped along sideways and slightly up.

I could make the argument that that hashrate rise is what led to the parabolic price spike beginning in February.

Really, labor theory of value?

or to take Frozenlocks example:
"People go deep to mine gold because it's valuable; gold is not valuable because people have to go deep to mine it."

Actually, if it only cost you $1 to go deep and mine that gold you'd be happy selling it for $5, but if it cost you $10k to go mine that gold would you still sell it for $5? No of course not, the price would be over $10k because you'd still have to turn a profit. In a sense he is right that gold is not valuable because people have to go deep to get it, BUT it's value IS and WILL BE determined on how much it costs to get deep enough to mine it.

If the hashrate goes up and up then it means it's becoming harder and more expensive to mine the bitcoins, which means the price will have to increase.

That actually allows me to highlight another reason why miners mine.

For enjoyment. They're geeks after all and this is what they do.

Hashrate influences the price by making speculators more confident that their money won't disappear from a 51%attack.