News you may have missed - IMPORTANT

belmonty

sr. member

Activity: 295

Merit: 250

Quote from: Bad Uncle on November 14, 2014, 12:16:58 PM

Quote from: femmecoins on November 13, 2014, 01:16:44 PM

Where are the fiat bag holders going to go to prempt inevitable future troubles?

What does this mean to bitcoin medium-longterm?

The thing is, the masses wont realise until its too late. They'll only complain when they go to their bank and they can't withdraw any money out. I'm sure this will happen within our lifetime.

If there is another big crash like the last one then we might see a shit load of banks going bankrupt. Satoshi left this message about the last crash in the first bitcoin block.

"03 Jan 2009 - Chancellor on Brink of Second Bailout for Banks".

https://blockchain.info/tx/4a5e1e4baab89f3a32518a88c31bc87f618f76673e2cc77ab2127b7afdeda33b?show_adv=true

cr1776

legendary

Activity: 4214

Merit: 1313

Quote from: Tugbit on November 14, 2014, 11:27:41 AM

Quote from: femmecoins on November 13, 2014, 01:39:54 PM

Quote from: DeadCoin on November 13, 2014, 01:33:41 PM

Quote from: femmecoins on November 13, 2014, 01:30:54 PM

Quote from: DeadCoin on November 13, 2014, 01:28:52 PM

Not much. By majority of population, bitcoin is perceived to be even less secure than banks, people are certainly not gonna put their savings in it.

Thats like saying account holders in cyprus would still feel comfortable keeping their fiat in banks.

How do you justify your statement for any serious financial player?

And how much did Cypriot account holders lost exactly?
Let me tell you, those with more than $150 000 at the account have lost 40%, and those with less than $150 000 lost nothing.
Meanwhile, those who invested in bitcoin last november, lost 60%. Those who invested in bitcoin 20 minutes ago lost 10%

Point is... Do you place trust in a eco-system that can take your funds as and when needed or do you place trust in funds you can control yourself?

I think you are missing the bigger picture here... For sure many need educating but for those well versed, the writing is on the wall.

Bottom line is: less faith in traditional banking system.

What does this mean for bitcoin medium-longterm?

Education of general population is short term which is not what this thread is referring to.

Deadcoin, the European commission took over 720k€ from this guy in Cyprus, leaving just over 127k€ with a shitload of restrictions, I wonder if he ever recouiped anything of his losses. See: https://bitcointalksearch.org/topic/my-bank-accounts-got-robbed-by-european-commission-over-700k-is-lost-160292

edit to add: Asked if, like in other bank closures, it could take six to seven years before depositors get back there money, he said: “maybe yes. And the amount [returned], could be 20%. Certainly, for depositors above 100,000 euros it could be a very significant blow.” source: http://greece.greekreporter.com/2013/03/27/cyprus-finance-minister-uninsured-laiki-depositors-could-face-80-haircut/

Yeah. He left there and moved to the Caribbean, taking his jobs and money with him. He wasn't alone leaving fewer people to screw next time they need cash.

Bad Uncle

member

Activity: 64

Merit: 10

Quote from: femmecoins on November 13, 2014, 01:16:44 PM

Where are the fiat bag holders going to go to prempt inevitable future troubles?

What does this mean to bitcoin medium-longterm?

The thing is, the masses wont realise until its too late. They'll only complain when they go to their bank and they can't withdraw any money out. I'm sure this will happen within our lifetime.

Tugbit

newbie

Activity: 20

Merit: 0

Quote from: femmecoins on November 13, 2014, 01:39:54 PM

Quote from: DeadCoin on November 13, 2014, 01:33:41 PM

Quote from: femmecoins on November 13, 2014, 01:30:54 PM

Quote from: DeadCoin on November 13, 2014, 01:28:52 PM

Not much. By majority of population, bitcoin is perceived to be even less secure than banks, people are certainly not gonna put their savings in it.

Thats like saying account holders in cyprus would still feel comfortable keeping their fiat in banks.

How do you justify your statement for any serious financial player?

And how much did Cypriot account holders lost exactly?
Let me tell you, those with more than $150 000 at the account have lost 40%, and those with less than $150 000 lost nothing.
Meanwhile, those who invested in bitcoin last november, lost 60%. Those who invested in bitcoin 20 minutes ago lost 10%

Point is... Do you place trust in a eco-system that can take your funds as and when needed or do you place trust in funds you can control yourself?

I think you are missing the bigger picture here... For sure many need educating but for those well versed, the writing is on the wall.

Bottom line is: less faith in traditional banking system.

What does this mean for bitcoin medium-longterm?

Education of general population is short term which is not what this thread is referring to.

Deadcoin, the European commission took over 720k€ from this guy in Cyprus, leaving just over 127k€ with a shitload of restrictions, I wonder if he ever recouiped anything of his losses. See: https://bitcointalksearch.org/topic/my-bank-accounts-got-robbed-by-european-commission-over-700k-is-lost-160292

edit to add: Asked if, like in other bank closures, it could take six to seven years before depositors get back there money, he said: “maybe yes. And the amount [returned], could be 20%. Certainly, for depositors above 100,000 euros it could be a very significant blow.” source: http://greece.greekreporter.com/2013/03/27/cyprus-finance-minister-uninsured-laiki-depositors-could-face-80-haircut/

femmecoins

newbie

Activity: 15

Merit: 0

Quote from: DeadCoin on November 13, 2014, 01:33:41 PM

Quote from: femmecoins on November 13, 2014, 01:30:54 PM

Quote from: DeadCoin on November 13, 2014, 01:28:52 PM

Not much. By majority of population, bitcoin is perceived to be even less secure than banks, people are certainly not gonna put their savings in it.

Thats like saying account holders in cyprus would still feel comfortable keeping their fiat in banks.

How do you justify your statement for any serious financial player?

And how much did Cypriot account holders lost exactly?
Let me tell you, those with more than $150 000 at the account have lost 40%, and those with less than $150 000 lost nothing.
Meanwhile, those who invested in bitcoin last november, lost 60%. Those who invested in bitcoin 20 minutes ago lost 10%

Point is... Do you place trust in a eco-system that can take your funds as and when needed or do you place trust in funds you can control yourself?

I think you are missing the bigger picture here... For sure many need educating but for those well versed, the writing is on the wall.

Bottom line is: less faith in traditional banking system.

What does this mean for bitcoin medium-longterm?

Education of general population is short term which is not what this thread is referring to.

DeadCoin

sr. member

Activity: 1246

Merit: 261

★ Investor | Trader | Promoter

Quote from: femmecoins on November 13, 2014, 01:30:54 PM

Quote from: DeadCoin on November 13, 2014, 01:28:52 PM

Not much. By majority of population, bitcoin is perceived to be even less secure than banks, people are certainly not gonna put their savings in it.

Thats like saying account holders in cyprus would still feel comfortable keeping their fiat in banks.

How do you justify your statement for any serious financial player?

And how much did Cypriot account holders lost exactly?
Let me tell you, those with more than $150 000 at the account have lost 10-40%, and those with less than $150 000 lost nothing.
Meanwhile, those who invested in bitcoin last november, lost 60%. Those who invested in bitcoin 20 minutes ago lost 10%

femmecoins

newbie

Activity: 15

Merit: 0

Quote from: DeadCoin on November 13, 2014, 01:28:52 PM

Not much. By majority of population, bitcoin is perceived to be even less secure than banks, people are certainly not gonna put their savings in it.

Thats like saying account holders in cyprus would still feel comfortable keeping their fiat in banks.

How do you justify your statement for any serious financial player?

DeadCoin

sr. member

Activity: 1246

Merit: 261

★ Investor | Trader | Promoter

Not much. By majority of population, bitcoin is perceived to be even less secure than banks, people are certainly not gonna put their savings in it.

femmecoins

newbie

Activity: 15

Merit: 0

http://www.theguardian.com/business/2014/oct/26/european-banks-fail-financial-stress-tests

Less faith in the banking system....

http://www.theguardian.com/business/2014/nov/12/foreign-exchange-fines-ubs-hsbc-citibank-jp-morgan-rbs-penalties-market-rigging

Even less faith in the banking system...

Where are the fiat bag holders going to go to prempt inevitable future troubles?

What does this mean to bitcoin medium-longterm?

Topic: News you may have missed - IMPORTANT (Read 1691 times)