Something just occurred to me! We call that an "Ah Ha" experience. I have seen that number before, i.e. ~ $130. It looks remarkably close to the Euro value in USD. If I were to live in France and they were going to tax me at 70%, I would move my money to somewhere else. The currency of international trade is still the USD and $1 is equal to 1.3 EU's I buy 1 Bitcoin ( $130USD ) and send it to Uncle Buck in Hollywood California. I have just moved 100 EU to Hollywood in 10 minutes with only Peter Pans Help. Now that is slick! I have hook Bitcoins to Euro's and won't let it go. Demand, like last week was at $150 USD, something in Eurozone upset people and they were willing to pay more. An example was that Spain had 27% unemployment. Outch! If Murkle soothes the Europeans then another group of buyers will have enough purchasing power to control the value if Eurozone is not.
The 21 million Bitcoins is the same as a factor of how many bits of Bitcoins are at the right of the decimal point.
.0000001. The value of the Bitcoin is what people 's utility for it is. I suspect in the Eurozone it is moving EU from Greece or France, maybe even England to somewhere else.
Mining Bit coins, I am trying to think of how much that sounds like metal detecting. bzzzzzz! The fewer the number of coins left to be mined, if the price goes up for a Bitcoin, their will be a RUSH to mine those coins. In a world were their is a limit supply of something and demand is high, That next Bitcoin will be of a lot of value.
Lets say it is worth 1000.0000006 USD.
Why would you hoard Bitcoins. People hoarding Gold just got shot in the butt. If too many people want to sell Gold the price goes down. "Wa La" !