Makes you wonder what it's gonna take to get the price moving up. If this, Webmoney, paypal founder's investment, and gyft among other good news didn't do much, what do we need?
Really, it seems at this point we are waiting for an Amazon/Paypal or the like to jump on. The China news and Russian Pay pal will probably affect the volume some.
A sure fire thing, which is inevitable imo, is another Cypress like event happening. When that happens we probably don't look back...
There was no Cypress event.
People in Cypress with over 100k in their banks are having their money stolen at a rate of around 80% - 90% (not clear yet). Further they took 400 million of their gold (an artificially reduced rate due to the naked short selling). In addition the people of Cypress are STILL not allowed to withdraw more than 300 Euros a day. Hey mom, can I have some more money? LOL
Cypress was merely the canary in the cage falling over. Now, are the miners listening or watching CNN and seeing that the economy is all well?
I agree with most of your posts in here, but not regarding the Cyprus situation - I'm sure that the Cyprus (not Cyprees, BTW) impact on the BTC price was just speculative mania. I can guarantee you that a negligible amount of Cyprus citizens were able to throw money to BTC. You know, BTC is a lengthy process: first you need to understand, and then you start to use a little money to buy BTC. It's not an easy process, as there are both intellectual and technical barriers.
The boost in price after Cyprus was just driven by a few individuals holding fiat in BTX exchanges, who considered this was "positive" news for BTC, and started buying more BTCs driving the price up.
I am not saying the Cyprus thing is not speculative but more importantly, beyond the speculation it is a sign of economic times. This "speculation" is a bit more than mere speculation. It is based on banks failing and many more banks being on a precipice of failure. We are talking about monetary systems that have been responsible for much suffering in the world. They appear to be being challenged with BTC. I'm not saying BTC will come out on top, but it does appear to be bringing some change with it being let out of the bag.
I understand the citizens of Cypress are not buying (nor able to buy) BTC, for the most part. I would only say that BTC is a part of something much bigger and is not an answer to a problem. Rather I see it as an intermediary step to get away from centrally controlled money. We still have the problem of power via money. Baby steps...
It will take time for BTC to be ready for the masses, but we are moving quickly. Just think of AOL in the early days of the internet. It didn't take much at all. And here we are talking about money, capitalism, oddly enough, will help spread BTC...
Man, three people have corrected my Cyprus spelling, I'm really sorry guys. eheheh
