Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 22946. (Read 26710219 times)

Pathetic. Your moralism is unethical. It brings death. Bring on the crash. Buy moar coins.

Do you realize that nothing you said applies to any statements you quoted from me?

My original point was about hoping for economic collapses in general, because you think it will make BTC price rise. It was not meant to be a commentary on the Greece situation, and I didn't accuse anyone in particular of anything except BJA. Judging his character by his posts that I've read, I stand by my opinion that his only interest in Greece is the possibility that he can line his pockets from the situation, but that's still not actually a commentary on the Greece situation. I'll leave the back and forth discussion of that to the resident armchair economists.

Coin
Explanation

So nobody suffers under the current system, huh? I think some do.

Could the G8 come together and agree on no more money printing, no more government loaning, no more banker bailouts, no more corporate welfare, no more welfare state, no more taxpayer deposit guarantees? A soft landing? I think not.

In fact there is no option for a soft landing, and a reset sometime in the future is unavoidable. A crash would be painful, but continuing the current system, we can expect lower living standard, which mean freezing, hunger, sickness, war, AND a larger crash later.

So I think wishing for a crash as soon as possible is the most altruistic attitude.
(Not being altruistic myself, as I think it is a philosophy of death).

Coin
Explanation

Chiming in on the Greek situation.

One of the interesting things I have learned over the last few days has been how the bailout money was actually used.

Just like in 2008, the bailouts were designed to prevent a broader financial panic involving the banks. Of the 230 billion euros that Greece received, only 11% actually stayed in Greece to finance government activity. The rest was used to pay back old bondholders (mainly Greek and European Banks) and make interest payments.

Instead of defaulting 5 years ago, the Greeks were strong-armed into a bailout designed to prevent panic. Then the crisis spread to other countries, and the EU has muddled through from one crisis to the next for 5 years. After losing 25% of GDP, a chronic unemployment rate above 26% and with debt at 170 debt/GDP ratios, the Greeks are screwed and, more importantly, they have nothing to lose. They either default and possibly leave the Euro, or they stick with the horrible depression they have been in for 5yrs.

The difference is that if they default today, German and Italian banks will not take a hit, BUT if they default (and especially if they leave the Euro), the financial and political ramifications are impossible to predict. It could be the EU's Lehman moment.

I am surprised that the Germans are letting this get so unpleasant. The amount the Greeks want is nothing compared to the strategic importance of Greece as a NATO ally. They must be seriously worried about the signal they would send to Spain and Italy if they agree to let Greece write off some debt. The political environment in Europe is turning against Germany - the real wild-card in this situation are Austerity-weary voters.

Source for the bailout stats (Martin Wolf of the FT)- http://www.ft.com/intl/cms/s/0/44c56806-a556-11e4-ad35-00144feab7de.html#axzz3RNvpcnSg

well BTC can't be printed out and is not controlled by Governments or anybody. If you just take these aspects it's fucking damn safe. Even the Gold-Market is super manipulated. There is much much more Gold traded on exchanges then ever mined. If you just see it from a price perspective, yes Gold is the better option over Bitcoin.


But the Greece situation is much bigger. It's likely the Euro will collapse as a whole if Greece leaves the Euro. Bank are leveraged 3-5% and they could lose these 3-5% over night. On top there will be a Bank run and since all the Banks are connected it will have a cascading effect. The hole Banking sector worldwide will likely burn if Greece is finally viewed as Bankrupted.

Ireland already said, they want the same deal as Greece. So there you have your second fire burning if Greece leaves and goes bankrupt. Italy and Spain are also running towards an end of the current suppression politics.


I am telling your, once there is a real Bankrun in Greece it's going to cascade fast and Banks will be closed with a lot of money lost by the customers. (fractional reserve endtimes)
It doesn't matter where you have your Bank account in Europ your money will be in dangerous if this hole thing gets rolling.

On top I don't think Grexit is a 50/50 bet. He clearly said no more fishy deals. They don't want any money from the EU or anybody anymore. Either they accept that Greece is Bankrupt and help them or they leave the Euro.

BJA is not far off.

Grexit, according to many respected analysts is looking a 50/50 bet right now.

The turmoil and uncertainty in the whole Euro experiment this will cause (and uncertainty worldwide) is already being factored in by smart money.

If any capital flight was likely to benefit BTC we would already be seeing it.

If your banks were about to potentially collapse, or your capital was at risk from your country's banks possible liquidity crisis, wouldn't you already be looking for ways to keep it safe, or at least move it?

The money is already nervous.  Bullish as I am (long term) I don't see evidence growing that BTC will be the beneficiary of this crisis.

When Cyprus happened, BTC had not lost so much value and had so many scams tarnish it.  

When Greece happens, if it does - the money will not take more risk, it is already seeking safety.  And right now, this is not what BTC appears to offer.

.... I love German bashing, since I am from Germany myself I can relate to some extent (some of us are pretty unhappy with our current government). But you seem to misunderstand some things:

Your own government was full of corruption and has been mismanaging your country for the better part of 30 years, we had nothing to do witht that (remember this?: In 2011, it was reported that Greece was paying pensions to 4,500 dead and then as well to 40,000 fraudulent claimants who were being asked to return the money but not prosecuted, even though they had been stealing from the state for more than 20 years in some cases. - See more at: http://greece.greekreporter.com/2013/08/17/greece-still-paying-dead-pensioners/#sthash.oObK837v.dpuf).


It's understandable that you are searching for arguments to get Germany to cut some of the debts, but the warcrime reparations payment is laughable at best. Do you even know how much Germany paid after WW1? 67,7 Billion Goldmark (~225B € with todays prices). I won't start with WW2 because it's a lot more difficult, but trust me that the damages paid were some orders of magnitude higher if calculated with current prices.

Just because Greece is nearly bancrupt does not mean you can just pull some 70 year old reparations out of your pockets in order to get by. The sad thing is, you are bancrupt even with all the help you got, Ireland etc. got the same help and are stabilized, but your country has just so much debt in the private sector - even with a cut in eu debt - you still won't be able to pay back the private creditors.

http://uk.businessinsider.com/euro-rally-greece-report-2015-2?r=US


Short the Euro and buy longs in Bitcoin.

Coin
Explanation

that was a great olympics show greece......

Now let's see if they can land that mofo

i'm not denying they are doing good

just wondering what is "rising"

they have had consistent volume since launch..if anything  the last week has been slightly lower

Coin
Explanation

It was a complete success



just like bitcoin

It's kind of like a shouting contest across a river.

But if the price doesn't move soon, we might actually solve all the problems in the world in this thread.

Mmurica' Fuck yeah!!