The China factor behind this "surge" is because this https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company) started doing business in China. It's growing very huge.
Bitcoin Surges Past $400
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Re: Bitcoin Surges Past $400
#12I keep biting my finger off, trading bitcoins seems so nice but to enter you need to give RID access to shady merchant, which is a bummer. Anyone know an exchange where btc can be bought simply with paypal?
Nope since paypal is chargeback-able. You can try localbitcoins if you don't want to give out your info.
Re: Bitcoin Surges Past $400
#13Hmm, time o check the googlentrends "bitcoin" chart vs the bitcoin price chart again. They had a 1to1 correlation last time I looked. EDIT: Just went back to look and peek Google Trends interest in Bitcoin happens prior to peek Bitcoin price so public interest leads Bitcoin price as I suggest. Trends crash before the price does.
Correlation does not imply causation.
You're the kind of person who upon seeing a gun shot victim and as the coroner says, " He was killed by a bullet entering the body and piercing the heart" would shout out "Correlation does not imply causation" reflexively.
Do you really not think the general population's interest in bitcoin has any effect on the price?
Re: Bitcoin Surges Past $400
#14Earlier quoted context omitted.
Correlation does not imply causation.
You're the kind of person who upon seeing a gun shot victim and as the coroner says, " He was killed by a bullet entering the body and piercing the heart" would shout out "Correlation does not imply causation" reflexively. Do you really not think the general population's interest in bitcoin has any effect on the price?
Or maybe price is driving the interest?
Re: Bitcoin Surges Past $400
#15The China factor behind this "surge" is because this https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company) started doing business in China. It's growing very huge.
+1
Somehow I refuse to believe that this surge in price is natural.
Re: Bitcoin Surges Past $400
#16The China factor behind this "surge" is because this https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company) started doing business in China. It's growing very huge.
Very unlikely the cause considering the amount of hits their website is getting.
Re: Bitcoin Surges Past $400
#17Tulip bulbs! Got your tulip bulbs right here!
Re: Bitcoin Surges Past $400
#18Earlier quoted context omitted.
You're the kind of person who upon seeing a gun shot victim and as the coroner says, " He was killed by a bullet entering the body and piercing the heart" would shout out "Correlation does not imply causation" reflexively. Do you really not think the general population's interest in bitcoin has any effect on the price?
Or maybe price is driving the interest?
Perfectly fair question, but I highly doubt there would be a 1:1 causal relation from BC price to twitter mentions of it. Trending topics are more of a critical-mass "hashtags trending with exponential growth" kind of thing.
Re: Bitcoin Surges Past $400
#19The China factor behind this "surge" is because this https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company) started doing business in China. It's growing very huge.
There are thousands of videos popping up on YouTube with how much money these people have 'made' on MMM Global, it's sad to see;
https://www.youtube.com/results?lclk=week&search_query=mmm+g...
It's very likely a big part of the price increase, many of the local MMM sites advertise that they're bitcoin-only and all of the exchanges are extraordinarily shallow so small surges in demand really move prices.
Here's a pretty good article from a mid October predicting the huge run-up based on interest in MMM and how they reward posts to social media where people show off how much they've "made":
https://letstalkbitcoin.com/blog/post/mmm-global-republic-of...
If anyone pays for better website analytics, I bet you'd find a pretty striking increase in the MMMGlobal rankings in the past month or so that corresponds pretty strongly with bitcoin price. One more note is that the exact same price runup happened in July with Litecoin based on a different Chinese ponzi scheme:
http://www.dailytradingprofits.com/4669/was-litecoin-pumped-...
Re: Bitcoin Surges Past $400
#20Price surge is in direct correlation with Winklevoss "Gemini" exchange going online on October 8th. https://gemini.com/
This chart shows the price surge starting the exact same day Gemini went online: http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzm1g10zm...
I really hope this is genuine growth, but I have a sneaking suspicion it could be partially due to market manipulation by Gemini. The Winklevoss twins have a lot of money riding on this play.