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What I find most interesting about the rise in the last months, is that it seems organic. No huge bubbles, no temporary rises in volume. Just growth. I'm not sa

What I find most interesting about the rise in the last months, is that it seems organic. No huge bubbles, no temporary rises in volume. Just growth. I'm not saying it's not speculative by any means, but it does have a healthier and more solid feel, which I personally welcome.

koonsolo 10y ago
Might have something to do with the demonisation of the 500 and 1000 rupee bills? I don't have any evidence, but this seems another blow to the credibility of fiat money. https://en.wikipedia.org/wiki/Indian_500_and_1000_rupee_note_demonetisation https://en.wikipedia.org/wiki/Indian_500_and_1000_rupee_note...
- djaychela 10y ago
  I've seen a number of news pieces coming up in my Google feed saying that adoption in India has increased hugely as a result, such as [1], and it would make some sense given that many do have mobile phones. I'm not sure about a blow to the credibility of fiat money, but it may be a reaction to what could be viewed as a very difficult policy for a huge number of people to deal with, but then that's the kind of thing that helps adoption of alternatives. [1]http://www.thehindu.com/business/Industry/%E2%80%98Bitcoin-adoption-in-India-sees-surge%E2%80%99/article16716798.ece http://www.thehindu.com/business/Industry/%E2%80%98Bitcoin-a...
panarky 10y ago
Note that Ethereum has collapsed from $21.50 to $7.88 or -63% following a series of hacks, forks and bugs. $1 billion in market cap is gone from Ethereum, and a large part of that has probably moved into old, boring, reliable Bitcoin. Note that the ETHBTC pair dropped from a high of 0.037 to 0.010, or -73%. Since the dollar has strengthened during this time due to Brexit and Trump, you would expect ETHUSD to be more severe. The fact that ETHBTC has been hurt even more may indicate that there's more driving Bitcoin demand than just rotation out of Ethereum.
xiphias 10y ago
This is the kind of thinking that starts bubbles :)
deleted 10y ago
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BerislavLopac 10y ago
Trump effect?

koonsolo 10y ago

Might have something to do with the demonisation of the 500 and 1000 rupee bills? I don't have any evidence, but this seems another blow to the credibility of fiat money. https://en.wikipedia.org/wiki/Indian_500_and_1000_rupee_note_demonetisation https://en.wikipedia.org/wiki/Indian_500_and_1000_rupee_note...

djaychela 10y ago
I've seen a number of news pieces coming up in my Google feed saying that adoption in India has increased hugely as a result, such as [1], and it would make some sense given that many do have mobile phones. I'm not sure about a blow to the credibility of fiat money, but it may be a reaction to what could be viewed as a very difficult policy for a huge number of people to deal with, but then that's the kind of thing that helps adoption of alternatives. [1]http://www.thehindu.com/business/Industry/%E2%80%98Bitcoin-adoption-in-India-sees-surge%E2%80%99/article16716798.ece http://www.thehindu.com/business/Industry/%E2%80%98Bitcoin-a...

panarky 10y ago

Note that Ethereum has collapsed from $21.50 to $7.88 or -63% following a series of hacks, forks and bugs. $1 billion in market cap is gone from Ethereum, and a large part of that has probably moved into old, boring, reliable Bitcoin. Note that the ETHBTC pair dropped from a high of 0.037 to 0.010, or -73%. Since the dollar has strengthened during this time due to Brexit and Trump, you would expect ETHUSD to be more severe. The fact that ETHBTC has been hurt even more may indicate that there's more driving Bitcoin demand than just rotation out of Ethereum.

xiphias 10y ago

This is the kind of thinking that starts bubbles :)

deleted 10y ago

[deleted]

BerislavLopac 10y ago

Trump effect?