Could Greece bankruptcy fuel the next Bitcoin rally? - page 2.

1Referee

legendary

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Quote from: redsn0w on May 09, 2015, 10:36:57 AM

Quote from: BTCat on May 09, 2015, 10:01:43 AM

It happened all before with Cyprus in 2013:

Shares of the cyber-currency bitcoin have surged in the past week as investors seek safe havens following the unprecedented bailout of Cyprus' banks.

http://money.cnn.com/2013/03/28/investing/bitcoin-cyprus/

And today:

Schaeuble Warns Defaults Can Surprise Before Greece Test

“Experience elsewhere in the world has shown that a country can suddenly become unable to pay its bills,” Schaeuble said in an interview with Frankfurter Allgemeine Sonntagszeitung published Saturday.

http://www.bloomberg.com/news/articles/2015-05-09/greece-huddles-with-creditors-ahead-of-ecb-test-as-support-slips

Obviously, NO the Greece bankruptcy will not 'fuel' the next bitcoin rally. If we want to see again 1'000 dollars per bitcoin, that in this case we need a person with a lot of dollars (billion or also million $$) and he should buy bitcoin and continue to buy.

It would be great to see a steady but healthy growth over a long period of time. For that to happen there must be genuine demand. I prefer to have genuine demand and a steady rise, rather than a few wealthy investors buying up coins to dump it again at some point. And no, I don't think Greece can trigger a rally.

gizmoh

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Quote from: Amph on May 09, 2015, 10:28:35 AM

how they can fuel it if they have no money even for surviving practically...

no the new really of btc will not happen because some country is bankrupted

Fed up hearing that Greeks are poor and have no money.. Roll Eyes

As the Greek economy teeters on the verge of bankruptcy, millions of panicking citizens have completely cleared their accounts - pulling more than €28 billion out of banks and pushing the total cash revenue held in the country's financial institutions to a 10-year low.

http://www.dailymail.co.uk/news/article-3068975/Greece-introduces-mandatory-surcharges-cashpoints-desperate-attempt-raise-money-stop-panicked-citizens-withdrawing-life-savings-country-s-beleaguered-banks.html

Bit_Happy

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A Great Time to Start Something!

Quote from: BTCat on May 09, 2015, 10:01:43 AM

It happened all before with Cyprus in 2013:

Shares of the cyber-currency bitcoin have surged in the past week as investors seek safe havens following the unprecedented bailout of Cyprus' banks.

http://money.cnn.com/2013/03/28/investing/bitcoin-cyprus/

And today:

Schaeuble Warns Defaults Can Surprise Before Greece Test

“Experience elsewhere in the world has shown that a country can suddenly become unable to pay its bills,” Schaeuble said in an interview with Frankfurter Allgemeine Sonntagszeitung published Saturday.

http://www.bloomberg.com/news/articles/2015-05-09/greece-huddles-with-creditors-ahead-of-ecb-test-as-support-slips

The answer is YES:
Almost anything "could" happen and Bitcoin is primed for a huge rally with all the investor money pouring into related companies.
The pessimism in this thread (and 'all over' the forum) is actually a clear sign that the market is ready to go much higher:
Contrarian investing = "In finance, a contrarian is one who attempts to profit by investing in a manner that differs from the conventional wisdom, when the consensus opinion appears to be wrong."
http://en.wikipedia.org/wiki/Contrarian_investing

Lauda

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Terminated.

Quote from: Slark on May 09, 2015, 10:35:03 AM

Could Greece bankruptcy fuel the next Bitcoin rush? The answer is no. Here is why:

1. People from other countries don't care about Greece bankruptcy that much. For them is just another news from far away.
2. It does not make people suddenly realise that something like bitcoin is here. People don't know about bitcoin.
3. Even if people knew what bitcoin is there is not enough of infrastructure to use bitcoin in normal life on everyday basis.
4. Bitcoin is still too volatile when one day you have 1 BTC and it cost $300 and next your bitcoin is only worth $225.

You have some fine points, but 4 is partially true. Bitcoin isn't that volatile at the moment. Take a look at the 6 month chart, we've only had 1 big decline in that time period.
Things are going to improve over time. I Greece goes bankrupt, I could see some wealthy individuals buying into Bitcoin. They do have to hear about it first and learn how it works and how to use it.

numismatist

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Quote from: BTCat on May 09, 2015, 10:01:43 AM

It happened all before with Cyprus in 2013:

Shares of the cyber-currency bitcoin have surged in the past week as investors seek safe havens following the unprecedented bailout of Cyprus' banks.

http://money.cnn.com/2013/03/28/investing/bitcoin-cyprus/

And today:

Schaeuble Warns Defaults Can Surprise Before Greece Test

“Experience elsewhere in the world has shown that a country can suddenly become unable to pay its bills,” Schaeuble said in an interview with Frankfurter Allgemeine Sonntagszeitung published Saturday.

http://www.bloomberg.com/news/articles/2015-05-09/greece-huddles-with-creditors-ahead-of-ecb-test-as-support-slips

It's "Schäuble", not "Scha-eble". Since you are most probably someone from far away from the area of interest: Just believe me, Cyprus ain't Greece nor has given Bitcoin anything. More like nothing. What's left from the Cyprus Effect?

dr.offher

newbie

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Merit: 0

Quote from: Lethn on May 09, 2015, 10:30:12 AM

The point is it will cause capital flight to Bitcoin, Greece collapsing would certainly shake up the EU to that point and Switzerland has already exited the Euro.

Switzerland was never in the Euro to begin with! The Swiss Franc was pegged to the Euro, but they were never part of the Eurozone.

Quote from: redsn0w on May 09, 2015, 10:36:57 AM

Obviously, NO the Greece bankruptcy will not 'fuel' the next bitcoin rally. If we want to see again 1'000 dollars per bitcoin, that in this case we need a person with a lot of dollars (billion or also million $$) and he should buy bitcoin and continue to buy.

I suggest we bring back Willy and Markus.

Meuh6879

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every week since 4 months ... the greek country must do default.
but they don't ... every time.

that's the financial sector, a bunch of lies ...

redsn0w

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#Free market

Quote from: BTCat on May 09, 2015, 10:01:43 AM

It happened all before with Cyprus in 2013:

Shares of the cyber-currency bitcoin have surged in the past week as investors seek safe havens following the unprecedented bailout of Cyprus' banks.

http://money.cnn.com/2013/03/28/investing/bitcoin-cyprus/

And today:

Schaeuble Warns Defaults Can Surprise Before Greece Test

“Experience elsewhere in the world has shown that a country can suddenly become unable to pay its bills,” Schaeuble said in an interview with Frankfurter Allgemeine Sonntagszeitung published Saturday.

http://www.bloomberg.com/news/articles/2015-05-09/greece-huddles-with-creditors-ahead-of-ecb-test-as-support-slips

Obviously, NO the Greece bankruptcy will not 'fuel' the next bitcoin rally. If we want to see again 1'000 dollars per bitcoin, that in this case we need a person with a lot of dollars (billion or also million $$) and he should buy bitcoin and continue to buy.

Slark

legendary

Activity: 1862

Merit: 1004

Could Greece bankruptcy fuel the next Bitcoin rush? The answer is no. Here is why:

1. People from other countries don't care about Greece bankruptcy that much. For them is just another news from far away.
2. It does not make people suddenly realise that something like bitcoin is here. People don't know about bitcoin.
3. Even if people knew what bitcoin is there is not enough of infrastructure to use bitcoin in normal life on everyday basis.
4. Bitcoin is still too volatile when one day you have 1 BTC and it cost $300 and next your bitcoin is only worth $225.

Lethn

legendary

Activity: 1540

Merit: 1000

Quote from: Amph on May 09, 2015, 10:28:35 AM

how they can fuel it if they have no money even for surviving practically...

no the new really of btc will not happen because some country is bankrupted

The point is it will cause capital flight to Bitcoin, Greece collapsing would certainly shake up the EU to that point and Switzerland has already exited the Euro.

Amph

legendary

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Merit: 1070

how they can fuel it if they have no money even for surviving practically...

no the new really of btc will not happen because some country is bankrupted

dr.offher

newbie

Activity: 10

Merit: 0

Nah, Cyprus had nothing to do with it and I'm sick and tired of this nonsense about Greece leaving the Eurozone.

If you live in the EU and think that the banking system might collapse or that the Euro might collapse, you don't purchase BTC, you try to withdraw as much money as you possible can and keep it in cash. If the government ever implements a pesofication of all depositor accounts you can bet people will be trying to smuggle euros into other, more stable European countries.

Q7

sr. member

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I think if you relate the price increase to Cyprus back in 2013, that is more like mere coincidence. We have seen Greece showing signs of defaults and then we have the bailouts but that hardly move the price. Personally I don't see any correlation between both.

BTCat

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It happened all before with Cyprus in 2013:

Shares of the cyber-currency bitcoin have surged in the past week as investors seek safe havens following the unprecedented bailout of Cyprus' banks.

http://money.cnn.com/2013/03/28/investing/bitcoin-cyprus/

And today:

Schaeuble Warns Defaults Can Surprise Before Greece Test

“Experience elsewhere in the world has shown that a country can suddenly become unable to pay its bills,” Schaeuble said in an interview with Frankfurter Allgemeine Sonntagszeitung published Saturday.

http://www.bloomberg.com/news/articles/2015-05-09/greece-huddles-with-creditors-ahead-of-ecb-test-as-support-slips

Topic: Could Greece bankruptcy fuel the next Bitcoin rally? - page 2. (Read 2284 times)