please explain how a BUY of bitcoins is "fiat leaving". If it's indeed capital flight from gox in the form of bitcoins, those have to be SOLD in order for fiat to leave the bitcoin system.
Yes, and even if this were the case, we are talking strictly that
fiat stays fiat (with no net effect to bitcoin demand).
1. If there was selling pressure of bitcoins, the price would be trending down.
2. What we are witnessing, is large-scale buying. There is not so much evidence from the trade records that this buying is offsetted by selling in other exchanges. So a large part of Gox is not capital flight (isn't it ironic that bitcoin is the best way to move
fiat capital around these days?), rather it is legitimate buying for investment.
(Of course buying and selling volume must every moment exactly equal. Therefore a price shooting up is labeled "increased buying" and conversely.)
Can ya'll stop quoting walsoraj?
+1.
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