2 years ago Cyprus, now Greece? new bubble on the way? - page 2.

bitcoinmasterlord

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Quote from: mezmerizer9 on July 11, 2015, 04:18:50 AM

Quote from: angrynerd88 on July 10, 2015, 07:24:16 PM

Will Greece's failure bring to a new rise of bitcoin price in next months? Maybe a bubble? How much? Tell your opinions.

Are you guys preparing the worst scenario? So the bitcoin demand is rising now. No one can predict that scenario precisely. I think the submitted proposals will be passed by the creditors. Greece will get bailout fund.

Looks like you were right. Greece gets his money and all is back to normal, like before. And what happens to the bitcoin price? It drops when it showed up that they will get the money to proceed the way they proceeded till now. Roll Eyes

frank0929

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Quote from: angrynerd88 on July 10, 2015, 07:24:16 PM

Will Greece's failure bring to a new rise of bitcoin price in next months? Maybe a bubble? How much? Tell your opinions.

They are similar but not same. But, hey! People are same. So we can see another big bubble according to Greece/EU's economical fail. It's all pure speculation though.

aakashsangwan

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There are always whales manipulating the btc market. And at the time of Cyprus crisis the whales took the opportunity and made a great deal of money.
And now also they will be doing the same.

S4VV4S

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Quote from: Herbert2020 on July 12, 2015, 09:02:02 AM

Greek and Cyprus are two different scenarios as others have mentioned there were a lot of Russian investors in Cyprus and greeks's access to fiat is so restricted that they can not invest in bitcoin big time even if they want to.
but all that said the market movements are indicating a different thing, and looks like another bubble is shaping , we have to wait and see.

I see a lot of mention of Russian investors moving their money out of Cyprus using Bitcoin.
Have you got any links to where you got that information from?
Because last I remember Cyprus lost MANY of those Russian investors (due to the haircut) that relocated their business to the Isle of Man or some other tax heaven.
And I didn't really see any huge price rise considering they would have moved millions/billions of Euros through Bitcoin.

AFAIK the only money that left the island of Cyprus at the time was before the haircut and was done by those that had inside information.

biggus dickus

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Quote from: pat1900 on July 12, 2015, 11:24:44 AM

Quote from: neurotypical on July 11, 2015, 01:56:40 PM

Nothing really needs to happen inside Greece, it's the rest of the world speculating about what can or cannot happen that can drive the price nuts.

This. And part of the current price development is a Fontas-like pump and dump cycle: pump on good news (Greeks need to buy cryptos), dump some five days later. Get ready for a moderate correction this week. We won't see lower than $250 figures, though.

If there had been a messy Grexit with Greek banks going bankrupt it could have sparked a really big bubble. Now it seems like they have reached a bail out agreement the bubble seems much less likely. I think you're right about the dump this week. As more people across the world hear about the bail out agreement there will be more dumps.

AGD

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Quote from: pat1900 on July 12, 2015, 11:24:44 AM

Quote from: neurotypical on July 11, 2015, 01:56:40 PM

Nothing really needs to happen inside Greece, it's the rest of the world speculating about what can or cannot happen that can drive the price nuts.

This. And part of the current price development is a Fontas-like pump and dump cycle: pump on good news (Greeks need to buy cryptos), dump some five days later. Get ready for a moderate correction this week. We won't see lower than $250 figures, though.

That is true. If investors/traders believe, that greeks will buy a lot of Bitocoins, price can raise, no matter if its true or not. This seems to be much likely the scenario now.

mattiadeabtc

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crisis aside, the bitcoin needs trust as currency and as technology by large investors

pat1900

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Quote from: neurotypical on July 11, 2015, 01:56:40 PM

Nothing really needs to happen inside Greece, it's the rest of the world speculating about what can or cannot happen that can drive the price nuts.

This. And part of the current price development is a Fontas-like pump and dump cycle: pump on good news (Greeks need to buy cryptos), dump some five days later. Get ready for a moderate correction this week. We won't see lower than $250 figures, though.

Terabot

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Quote from: AGD on July 12, 2015, 12:15:40 AM

The 1200 bubble was for the most part produced by WillytheBot (MtGox) and his followers. Cyprus crisis had about the same impact on Bitcoin price as Greece has right now. Problem is mainly, when the banks are closed, people are not able to buy Bitcoins.

We will have to wait and see, but i agree to this.

Herbert2020

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Greek and Cyprus are two different scenarios as others have mentioned there were a lot of Russian investors in Cyprus and greeks's access to fiat is so restricted that they can not invest in bitcoin big time even if they want to.
but all that said the market movements are indicating a different thing, and looks like another bubble is shaping , we have to wait and see.

Eastwind

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Quote from: aso118 on July 12, 2015, 02:29:51 AM

Quote from: AGD on July 12, 2015, 12:15:40 AM

The 1200 bubble was for the most part produced by WillytheBot (MtGox) and his followers. Cyprus crisis had about the same impact on Bitcoin price as Greece has right now. Problem is mainly, when the banks are closed, people are not able to buy Bitcoins.

Cyprus was loaded with deposits from wealthy Russian investors. When these billionaires wanted to move some of their money, Bitcoin was a natural fit. In the case of Greece, that is not happening. Even if the banks were open, Greeks would withdraw Euros and keep it with them.

Yes. Bitcoin is also much bigger now than 2 years ago. It is affected by Greece to lesser degree.

aso118

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Quote from: AGD on July 12, 2015, 12:15:40 AM

The 1200 bubble was for the most part produced by WillytheBot (MtGox) and his followers. Cyprus crisis had about the same impact on Bitcoin price as Greece has right now. Problem is mainly, when the banks are closed, people are not able to buy Bitcoins.

Cyprus was loaded with deposits from wealthy Russian investors. When these billionaires wanted to move some of their money, Bitcoin was a natural fit. In the case of Greece, that is not happening. Even if the banks were open, Greeks would withdraw Euros and keep it with them.

Swordsoffreedom

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Quote from: angrynerd88 on July 10, 2015, 07:24:16 PM

Will Greece's failure bring to a new rise of bitcoin price in next months? Maybe a bubble? How much? Tell your opinions.

Perhaps a large bubble could occur
10% Large
50% Medium
30% Small
10% Nothing
At least that is what I put my odds at for now
I did hear a Greece hotel owner say he was investing in Digital currency on local tv so it might catch on yet.

AGD

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The 1200 bubble was for the most part produced by WillytheBot (MtGox) and his followers. Cyprus crisis had about the same impact on Bitcoin price as Greece has right now. Problem is mainly, when the banks are closed, people are not able to buy Bitcoins.

Beliathon

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Quote from: LiteCoinGuy on July 11, 2015, 06:02:07 AM

The World governments need growth,growth,growth and the only way to get that is messing with the currency.

Or by, you know, just devouring Earth till there's nothing left but toxic wasteland.

The Impossible Hamster

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Quote from: I am the guy on July 10, 2015, 07:34:03 PM

Somewhere I heard that, cyprus was a wealth heaven, during the crisis the wealth was exported using bitcoin. I don't know if would be the same scenario with greece.

Nothing really needs to happen inside Greece, it's the rest of the world speculating about what can or cannot happen that can drive the price nuts. Now more people are aware on Bitcoin and what it can do vs back in the day with Cyprus, this only means the potential bubble could be bigger, hopefully setting a new higher ceiling (every bubble will set a higher ceiling pretty much add infinitum until like 2030 or so when the inflation aspect of BTC starts being tiny).

coinableS

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Quote from: Q7 on July 11, 2015, 10:49:02 AM

It's too soon to predict the outcome. Cyprus or even Greece issue may not be the main driver. After the third bailout momentarily everybody will just forget that things ever happened. I think people should start to take things seriously and look for alternatives to secure their money. If they can't trust banks why not consider bitcoin.

That brings up an important observation. Just 10 years ago calling banks "evil" or not trusting them was only for radicals or conspiracy theorists. Today it is very common for people even the media to bash on the banks. I think the tide is slowly churning and in a while anyone who supports the banks will be viewed as the outsider. Bitcoin could be a very important puzzle piece to this transition.

Q7

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It's too soon to predict the outcome. Cyprus or even Greece issue may not be the main driver. After the third bailout momentarily everybody will just forget that things ever happened. I think people should start to take things seriously and look for alternatives to secure their money. If they can't trust banks why not consider bitcoin.

NorrisK

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Quote from: jaberwock on July 11, 2015, 06:23:35 AM

Don't forget China, for some while they were able to bypass the capital controls with Bitcoins, but it won't repeat anymore.

I think Cyprus was nothing compared to China

They will most likely figure out some ways to get around this again.. If they really want it, they can get it..

philipma1957

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Quote from: jaberwock on July 11, 2015, 06:23:35 AM

Don't forget China, for some while they were able to bypass the capital controls with Bitcoins, but it won't repeat anymore.

I think Cyprus was nothing compared to China

Cyprus's GNP is less then ½ % o f China's GNP

I will look for the link.

http://countryeconomy.com/gdp/cyprus

2014-- 23,269$--- -2.3%

http://countryeconomy.com/gdp/china

2014 ----- 10,360,105 ------- +7.4%

23269/10360105 = 0.002246 that is .2246% which is lees then ½ of 1 percent. (yeah me as the < ½ % I mentioned was a guess Wink

)

So a major China meltdown would be impressive.

2014   10,360,105$   7.4%
2013   9,469,125$   7.8%
2012   8,386,678$   7.8%
2011   7,314,482$   9.3%
2010   5,949,648$   10.4%
2009   5,105,769$   9.2%
2008   4,547,716$   9.6%
2007   3,504,605$   14.2%
2006   2,793,159$   12.7%
2005   2,287,258$   11.3%
2004   1,944,674$   10.1%
2003   1,650,514$   10.0%
2002   1,455,560$   9.1%
2001   1,317,236$   8.3%
2000   1,192,854$   8.4%
1999   1,100,775$   7.6%

They have had 15 winning years look above.

Topic: 2 years ago Cyprus, now Greece? new bubble on the way? - page 2. (Read 2784 times)