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The Bitcoin price has been dramatically spiking for the past two weeks. Very curious as to why.
by cnp 14y ago
The Bitcoin price has been dramatically spiking for the past two weeks. Very curious as to why.
- SlipperySlope 14y agoLook at the transaction volume as charted by blockchain.info. You will see a good correlation between that and the price of bitcoins. A good part of the recent bitcoin transaction volume is due to online gaming startups that use bitcoins, especially to work around US online gambling restrictions. The bitcoin economy is very rapidly growing from a miniscule base, first in illegal and gray-market trade, and then in international trade where low transaction costs and lack of credit card fraud appeal to global merchants.
- pudquick 14y agoBoth Mega and reddit have recetly announced acceptance of bitcoins for payment. Not saying that's the reason, but I'm sure it contributes.
- csmattryder 14y agoWhatever it is, it's made a few people (myself included) rather rich. Bought a fair few BTC at ~1/6th of the current price, just trying to figure out when to cash it in.