2012-09-05 venturebeat.com - Bitcoin value spikes after hacker demands ransom in

[julz]

Bitcoin value spikes after hacker demands ransom in the currency

Meghan Kelly
2012-09-05

http://venturebeat.com/2012/09/05/bitcoin-value/

Sometimes a hack has unexpected outcomes. Today, a hacker who claims to have obtained Mitt Romney’s tax returns is demanding a ransom of $1 million in Bitcoins. The hacker probably didn’t expect to improve the market for Bitcoins overall, but that’s exactly what happened, as the value of Bitcoins spiked about 6 percent today, from $10.40 per Bitcoin to about $11 per Bitcoin at the end of the day.
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This didn't strike me as much of a spike, and I think it's just as likely due to upbeat feelings over the sheer volume of press coverage on both this and the bitfloor hack.

[kiba]

Sometime, I believe this is all just a coincidence.

When something bad happens and the price rose, the bad things got attributed for the price spike. When something good happens, and the price declines, the good things got attributed for the price correction too.

Moral of the story? Sometime the bitcoin price just wants to spike for no other reason to screw with us. 

[BrightAnarchist]

Sometime, I believe this is all just a coincidence.

When something bad happens and the price rose, the bad things got attributed for the price spike. When something good happens, and the price declines, the good things got attributed for the price correction too.

Moral of the story? Sometime the bitcoin price just wants to spike for no other reason to screw with us. 

Agreed.

[giszmo]

Weird. I thought most people already agree on the Romney story being a hoax and a follow up of some satire article? Why even new stories and irrational stories like that?

Ok, if the story was legit, of course there would be an incentive to buy many bitcoins but those market makers should be confident enough about it being a hoax.

[notme]

Weird. I thought most people already agree on the Romney story being a hoax and a follow up of some satire article? Why even new stories and irrational stories like that?

Ok, if the story was legit, of course there would be an incentive to buy many bitcoins but those market makers should be confident enough about it being a hoax.

Because regardless of whether or not it's true, there is huge media exposure and a bunch of new people will ask "what is bitcoin?".