EUR negative interest incoming - BTC panic buys ahead? - page 2.

FeedbackLoop

hero member

Activity: 742

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Quote from: Lethn on May 13, 2014, 09:55:49 AM

lol do people really believe this is capitalism with all the stuff that is going on? It isn't, if it's anything it's corporatism, Bitcoin is capitalism and so are most cryptocurrencies.

I prefer "Crony-Creditism" where credit for some is cheaper (negative even) than for others (not to mention multipliable to infinity, via fractional reserve, by some and not by others). Also, since credit=fiat it can never go down so make sure to pump that bubble ad infinitum and make sure the fiat gets to your buddies (cronies) first!

acoindr

legendary

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Banker 1: We're inflating as fast as we can! It's not helping the poor.

Banker 2: Kick the machine into reverse also known as inflation warp speed! It will make the rich richer faster and drive up prices. That's sure to help.

Lethn

legendary

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lol do people really believe this is capitalism with all the stuff that is going on? It isn't, if it's anything it's corporatism, Bitcoin is capitalism and so are most cryptocurrencies.

Beliathon

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https://youtu.be/PZm8TTLR2NU

Quote from: Lethn on May 13, 2014, 09:18:21 AM

I really believe with steps I'm seeing being taken that we could easily see another collapse by the end of this year or sometime next year, they're getting more desperate now even though they're hiding it well, not surprised to see this kind of panic from the ECB.

Things get real interesting when you're trying to keep a zombie walking.

Yeah, I'm talking about capitalism.

counter

hero member

Activity: 798

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Time is on our side, yes it is!

I for one won't rule out the chance of panic buys but at this time I suspect it is to hard to tell what may happen. Who know what other bad economic news could arise?
It is always astonishing watching the talking heads on the media put a spin on certain stories in regards to Bitcoins or the stock markets.

Lethn

legendary

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Quote from: E-C.Guru on May 13, 2014, 09:07:11 AM

I'm just waiting for the stockmarket to CRASH violently, until that happens all economic news are peanuts. Salty and good, at best, but always very small and insignificant.

It always amazes me how the news organisations jump up and down about a 0.4% rise in the global markets, yet Bitcoin and even altcoins get more than 50% on a weekly basis, adding to the embarassment that these 'global' economies should be feeling Hobonickels now officially is probably one of the best places to have some money in if you're looking for a decent interest payment and it pays it on a 10 day basis as well.

I really believe with steps I'm seeing being taken that we could easily see another collapse by the end of this year or sometime next year, they're getting more desperate now even though they're hiding it well, not surprised to see this kind of panic from the ECB.

E-C.Guru

newbie

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I'm just waiting for the stockmarket to CRASH violently, until that happens all economic news are peanuts. Salty and good, at best, but always very small and insignificant.

DeathAndTaxes

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Gerald Davis

People won't get negative interest on their checking account balances. Short term bonds may have negative interest rate. Still nominal interest rates are meaningless, what really matters is real (adjusted for inflation) interest rates and they have been solidly negative in many countries for some time now. Anyone in control of the kind of funds necessary to be affected already knows this. It makes a headline but they have been losing purchasing power on their cash for the better part of a decade now. I don't see it driving bitcoin adoption. It won't affect the Dane on the street and large corporations, banks, and other major holders of cash are holding billions of Krone. They couldn't move that kind of money into Bitcoin without massively driving up the exchange rate.

leopard2

legendary

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Merit: 1014

Good day ladies and gentlemen,

ECB President Supermario Draghi has just announced that zero or even negative interest rates are incoming, maybe in June already.

http://www.businessweek.com/articles/2013-05-02/are-negative-interest-rates-in-europes-future

http://www.economist.com/blogs/freeexchange/2014/05/draghis-heavy-hint

There’s a precedent. Denmark, which has its own currency, has kept overnight interest rates negative for some time to discourage an influx of hot money that would drive up the value of the krone and make Danish goods and services uncompetitive in world markets. As reported by Bloomberg News, the Danish central bank’s deposit rate has been below zero since last July. It’s currently a negative 0.1 percent.

What willl happen if people get zero or negative interest on their balances? Cash? Not possible in large quantities, due to legal restrictions.

BTC is well known now, due to all the negative news. THere is no such thing as negative publicity. Panic buys into BTC could happen this year, when the torrent of liquidity seeks escape routes.

Forget China, consider billions of SEPA transfers :-) EUR dump incoming ...............

Cheers
Leo

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