2013-11-14 SFGate: Bitcoin value skyrockets, cause unclear

[Arvicco]

http://www.sfgate.com/business/article/Bitcoin-value-skyrockets-cause-unclear-4983853.php

Yet another ATH WTF head scratcher...

[n8rwJeTt8TrrLKPa55eU]

Only unclear to people whose worldview is based on bogus assumptions.  Plenty of people on this forum have understood the value of Bitcoin quite clearly for several years.

I suppose if educational institutions and the mainstream media for 100 years pushed the idea that gravity was a repellent force, it would also be unclear to the writer why people are unnaturally glued to the ground

It's a surreal thing to see journalists doubting the validity of reality, instead or questioning their own premises.

[Carlton Banks]

It's a surreal thing to see journalists doubting the validity of reality, instead or questioning their own premises.

Only serves to confirm that they're actually doing a job that promotes various agendas to create reality, not to inform us about what the current reality is. Naughty, naughty journalists.

[iCEBREAKER]

Hmm, could it possibly have something to do with demand exceeding supply?  Nah, couldn't be!

TIL Economics 101 is not a required class required for bona fide journalists.

Edit: I knew that already.  

Effing SFGate will probably try to blame Romney, Soros, or the Koch Bros for it.  Tomorrows headline: "Are the rich depriving the poor of their fair share of Bitcoins?"

[exstasie]

Hmm, could it possibly have something to do with demand exceeding supply?  Nah, couldn't be!

TIL Economics 101 is not a required class required for bona fide journalists.

Edit: I knew that already.  

Effing SFGate will probably try to blame Romney, Soros, or the Koch Bros for it.  Tomorrows headline: "Are the rich depriving the poor of their fair share of Bitcoins?"

As you mentioned. There really only is two variables that would affect this.

Either a reduction in supply, or an increase in demand.  In this case, I think it's fair to say that demand has dramatically increased over the past few weeks while supply has relatively remained the same.

[vokain]

It's a surreal thing to see journalists doubting the validity of reality, instead or questioning their own premises.

Only serves to confirm that they're actually doing a job that promotes various agendas to create reality, not to inform us about what the current reality is. Naughty, naughty journalists.

A chilling realization.

[Chef Ramsay]

Gotta love the media ostriches.

[fluidjax]

Hmm, could it possibly have something to do with demand exceeding supply?  Nah, couldn't be!

TIL Economics 101 is not a required class required for bona fide journalists.

Edit: I knew that already.  

Effing SFGate will probably try to blame Romney, Soros, or the Koch Bros for it.  Tomorrows headline: "Are the rich depriving the poor of their fair share of Bitcoins?"

As you mentioned. There really only is two variables that would affect this.

Either a reduction in supply, or an increase in demand.  In this case, I think it's fair to say that demand has dramatically increased over the past few weeks while supply has relatively remained the same.

As a number of new miners are now receiving their ASIC devices, and want to build up a stash of coins, I think the supply is diminshing together with the increasing demand from china.

[theonewhowaskazu]

Next headline: US Dollar tanks, cause unclear.

Seriously, these people don't even try any more. Even a cursory glance at mtgox, btcchina, and bitstamp orderbooks will tell you of the 'cause.'