Just wait until the bitcoin miners reach the point where they realise they won't get a ROI on their mining hardware with the increasing difficulty, which came to realisation a few weeks ago. They have begun hoarding when it is mathematically impossible to get a ROI. Less coins on exchanges over peroid of 1stJAN-March31st creates artificial scarcity. Around this point or after you will see a huge price hike, to a price where people who got in the game past 3-4 months are able to receive their ROI, which is at least 2x current price. The subsequent increase in price will attract a wave of media attention and more pyramid blocks will come to buy-in. Greed is the self regulating factor from mining manufacturers who are mining with the hardware as it comes off the production line. The pyramid will continue folks!
Bingo! +1
Price follows difficulty. Worry about the price when you start seeing less mining and lower difficulty (like feathercoin
)
zerk has it backwards, for most of the big run up in exchange rates the miners were holding and counting their paper-gains, when they lose profitability it will force them to START selling their newly produced coins to pay ongoing operating costs. Coin flows into exchanges will rise not fall and exchange rates will fall not rise. This is what happened the last time miners over-invested in the GPU era, and realized they couldn't meet ROI or even cover operating costs.
