Who or what is behind the recent price increase?

[niko]

Speculate!

[1715146500]

1715146500

[1715146500]

1715146500

[1715146500]

1715146500

[byronbb]

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

[wareen]

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

[dree12]

Add an option: Media coverage due to Bitcoinica debacle.

[cheat_2_win]

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

[bitcoinbear]

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

[ElectricMucus]

"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?

[Serge]

"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?

[bitcoinbear]

"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.

[ElectricMucus]

[niko]

Add an option: Media coverage due to Bitcoinica debacle.

Done. You may recast your votes!

[dust]

• Healthy widening of the user base
• Pirate and other HYIP injecting fiat in
• Increased hoarding of mined coins due to positive outlook

[redbeans2012]

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

[niko]

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.

[bitcoinbear]

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.

[DeathAndTaxes]

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. Carpet shipments gets intercepted and foreign buyer arrested for violating sanctions.

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. Associate is undercover agent who uses the transaction as evidence against airline company which is fined $50 million for violation of international sanctions.

There are lots of ways which bitcoins can be used to move capital around, you just have to be creative.  Which doesn't help when your country is under international sanctions.

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.

[redbeans2012]

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.

I was mostly joking around of course. 

[bittenbob]

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*

[BitcoinINV]

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

[Yuhfhrh]

Adam.