News for hackers. Stuff that matters.
Re:Google Trend for "Buy Bitcoin" over last 90 days by SwellJoe on Thursday November 21, 2013 @12:45AM (#6773250)
I've very rarely seen Bitstamp come up in any of these conversations. I know nothing about them...but, looking at their site, I can see that there's no way they will be preferred for first time BTC buyers from the US. It's not even a contest, because Bitstamp isn't even in the running for US buyers. Coinbase will fund your account via ACH from a US bank. Nobody else will. Thus, anybody wanting to start with Bitcoin in the US is going to go with Coinbase.

I'm gonna assume you're outside of the US; the difficulty and expense of sending an international wire from a US bank is rarely grasped by people outside of the US. My bank charges $40 for a wire transfer in US dollars, and more for one in the destination currency. My first BTC purchase was only ~$300...the wire transfer would have been more than 10% of that.

I agree that Coinbase running out of coins would have had an impact. But, I noticed that they were replenishing them relatively quickly...I tried to make a buy one evening, was told the daily coin limit had been reached, and an hour later was able to buy, and bought a little more the next morning.

I suspect they were sitting at their computers all night during the run up to $1000, trying to manage fraud while also trying to buy and sell as many BTC as possible.

Anyway, I'd be surprised if there's another big spike...but, a gradual climb back up to $1k and beyond does seem entirely realistic to me.

Re:Google Trend for "Buy Bitcoin" over last 90 days by waterlesscloud on Thursday November 21, 2013 @03:27AM (#6773642)
CampBX also transfers funds in and out via ACH, as well as money orders and domestic wires.

They're also a direct exchange, and if they started to run low on coins (thus driving the price higher), someone would happily provide more coins via arbitrage from elsewhere.