Why I believe we're on the cusp of the 3rd great Bitcoin bubble
We've recovered from the last crash You might think it's a bit early (based on the time frame for the last recovery), but things are looking a lot different than in 2011. I would suggest its because the last bubble popped prematurely due to Mt. Gox's failure of a trading engine. Interest in buying Bitcoins has gone up to its highest point since the last bubble. There's a similar spike in general interest. Partly helped along by the Silk Road news. The network is being used at the same rate as during the last bubble. The Bitcoin ATM story (see below) is causing Bitcoin to trend in Canada on Google (was #1 for a bit). The $27 story (see below) will almost certainly cause a large spike worldwide in Google trends once they're updated up to yesterday. Lots and lots of new businesses now accept Bitcoins One legitimate criticism of Bitcoin last year was the lack of places to spend them. We basically just had Alpaca Socks, Reddit and Wordpress, we've grown a lot since then!
The $27 story is going massively viral I think the attention this story is getting took a lot of us by surprise. We're thinking "of course if you bought Bitcoins in 2009 you're rich" and it didn't make much of a splash. But to the rest of the world it's a very novel and interesting story.
Institutional money is coming Afraid with the price at $200 that it will be hard to find enough moms and pops to keep money coming in faster than miners are selling? Don't be, there are individuals out there with a net worth higher than the entire Bitcoin ecosystem.
Governments are explicitly saying it's not illegal More and more governments are either saying Bitcoins are legitimate currency, or releasing guidelines for exchanges to comply with anti-money-laundering laws.
New generation of exchanges Mt. Gox's terrible trading engine was a huge factor in the last crash. They couldn't keep up with all the new interest. This time around there are more exchanges in more countries, and not a single point of liquidity.
The following post by ilega_dh is being replicated because some comments within the post(but not the post itself) have been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7m26vv The original post's content was as follows:
How to Check If Your PC Being Pirated to Mine Bitcoin