Do you really think I didn't expect someone coming up with something like this?
You may claim that the prices are going up right now because people got trapped at Bitfinex with their dollars, but then you will have to explain why Bitcoin prices are going up at other exchanges too, namely, at those which don't have any issues with fiat withdrawals. If people were buying up bitcoins at Bitfinex to sell them for fiat elsewhere (which is the only path along which you can plausibly claim that "people prefer fiat for bitcoin"), the price elsewhere should necessarily decline but this doesn't happen. Now go ahead with you explanation, it will be fun to see and hear
You assume:
If people were buying up bitcoins at Bitfinex to sell them for fiat elsewhere (which is the only path along which you can plausibly claim that "people prefer fiat for bitcoin"),
Why do you think that there aren't people are also buying bitcoins on stamp and coinbase to dump it on bitfinex?
There was one guy who wired 10k and was clapping here on the forum how he bought cheap coins on gox.
So this possibility exists also
You should understand that when you raise some issue, you won't be able to sidestep it
At least, not with me. Basically, you point comes down to claiming that people prefer fiat to Bitcoin (wtf, I just repeat what you said word after word). So why the hell they would be buying Bitcoin in the first place at all? Further, you still somehow lack to coherently (or even not coherently) address the issue which I posed. Namely, why the prices are growing everywhere? Apart from that, you can't possibly escape from the law of supply and demand (whether you like it not), i.e. if prices are growing across the markets, it means that demand is higher than supply and people, on the whole are buying bitcoins, not selling them, as simple as it gets. If people were running for cash (as you assume yourself), that would cause massive dumps everywhere (though at Bitfinex Bitcoin could actually rise, of course, since fiat withdrawals are locked). So I'm still waiting for your coherent explanation
Oh , I bow to the might god of controversy. I should not make one sidestep for which I will burn in the bitcoin hell of eternity.
Not let's ctc..
First. Not all people buy bitcoin because they want to get rid of fiat and live in bitcoin only land
99% of the posts here are about "when will bitcoin reach 90 00 , 100 000 000 a billion so I can be rich".
This is a fact, a sad one and I doubt you can start another war on it.
Phase two.
Funny how you expect a coherent explanation when you use no more that a row of four ().
But back to the main point.
I've already said it , and that is true people are putting pressure on bitfinex price by trying to get out.
The funny thing is that they only have one option, right? That is fiat! Or they could buy 1000 loads of cheese and run away with it.
I don't know the cheese/btc price on bitfinex but I think the rates are worse than btx/usd.
So you're wondering why the price keeps rising if people are wanting to get out of fiat.
NOOOOO.
I've said it again and again, people are wanting fiat because they want to get out of that
bitfinex.It's not that everybody wants fiat because there is no reason right now to go out of stamp or coinbase or kraken.
Remember the goxbot?Why was the price going up on bitstamp also at that time?
Easy, cause ... sheeeeeeeep.
Now , time for you to do some explanations.
If bitcoin is self sufficient and bla bla and people don't want fiat or cheese but only bitcoins..
Why in the name of god do we have a 125 dollar spread right now?