This might explain the unusual rise of BTC vs. USD.
The thief might have just traded those dollars to bitcoins which makes them harder to trace.
The thief might have just traded those dollars to bitcoins which makes them harder to trace.
If that offer is really enough to make the price rise, this might be exactly what this guy is speculating on.
ie, take in money via Bitcoin, loan out dollars to poor people as payday loans at very high rapidly compounding interest rate, pay somewhat smaller interest rate to Bitcoin funders.
> The original hacker could have compromised the funds on May 11th or any day thereafter.
In May, the equivalent of some ~90K US$ were stolen.
Today, 40K BTC + 40K US$ (amounting to ~350K at current valuation) were transferred out of Bitcoinica's MtGox account. Different issue and it definitely doesn't explain the recent rally.