z | Bitcointalksearch.org

Jobe7

full member

Activity: 238

Merit: 100

Now they are thinking what to do with me

Quote from: Wekkel on March 16, 2013, 10:20:41 AM

Quote from: darkmule on March 16, 2013, 10:13:19 AM

It is difficult to comprehend the short-sighted insanity of this decision. Basically they are saying, stay the fuck away from our banks. I'm not sure how you could devise a policy more likely to generate long-term instability.

QFT. There is no end to current stupidity.

Both QFT

Here's a BBC report on the situation.

http://www.bbc.co.uk/news/world-europe-21814325

GOGO TRACTOR POWER!

Seriously though, as I've been saying, fiat is already dead, what is happening are the death throws of an much abused system

Melbustus

legendary

Activity: 1722

Merit: 1003

Quote from: Odalv on March 17, 2013, 07:19:16 PM

Quote from: Melbustus on March 17, 2013, 06:41:34 PM

Cyprus gov hasn't voted the measure in yet, and they're considering changing the percentages a bit: http://www.zerohedge.com/news/2013-03-17/europe-scrambling-last-minute-revision-cyprus-deposit-confiscation-plan . They could theoretically even vote it down given how freakin' stupid it is (eg, even the bureaucrats may be realizing that it's likely to trigger an actual bank run).

But either way, the point is that the cat's out of the bag... The world now very publicly knows that outright theft is in governments' playbook, and that bank deposits are not safe.

#bitcoinUsersNotAffected

So average folks will start thinking about other places to put their money. Gold is kind of a pain, and you can't buy stuff with it online (or anywhere, really). So how else can people store a little wealth and still be able to use it easily in the modern world?

(cue Cypher with his "Daaaash to digital caaaash")

No one (maybe few(10)) knows about Bitcoin and No ONE is SELLing BTC now. https://localbitcoins.com/country/CY (this will change)

Too late for Cyprus depositors. It's the PIIGS that will be running.

Odalv

legendary

Activity: 1400

Merit: 1000

Quote from: Melbustus on March 17, 2013, 06:41:34 PM

Cyprus gov hasn't voted the measure in yet, and they're considering changing the percentages a bit: http://www.zerohedge.com/news/2013-03-17/europe-scrambling-last-minute-revision-cyprus-deposit-confiscation-plan . They could theoretically even vote it down given how freakin' stupid it is (eg, even the bureaucrats may be realizing that it's likely to trigger an actual bank run).

But either way, the point is that the cat's out of the bag... The world now very publicly knows that outright theft is in governments' playbook, and that bank deposits are not safe.

#bitcoinUsersNotAffected

So average folks will start thinking about other places to put their money. Gold is kind of a pain, and you can't buy stuff with it online (or anywhere, really). So how else can people store a little wealth and still be able to use it easily in the modern world?

(cue Cypher with his "Daaaash to digital caaaash")

No one (maybe few(10)) knows about Bitcoin and No ONE is SELLing BTC now. https://localbitcoins.com/country/CY (this will change)

Melbustus

legendary

Activity: 1722

Merit: 1003

Cyprus gov hasn't voted the measure in yet, and they're considering changing the percentages a bit: http://www.zerohedge.com/news/2013-03-17/europe-scrambling-last-minute-revision-cyprus-deposit-confiscation-plan . They could theoretically even vote it down given how freakin' stupid it is (eg, even the bureaucrats may be realizing that it's likely to trigger an actual bank run).

But either way, the point is that the cat's out of the bag... The world now very publicly knows that outright theft is in governments' playbook, and that bank deposits are not safe.

#bitcoinUsersNotAffected

So average folks will start thinking about other places to put their money. Gold is kind of a pain, and you can't buy stuff with it online (or anywhere, really). So how else can people store a little wealth and still be able to use it easily in the modern world?

(cue Cypher with his "Daaaash to digital caaaash")

klee

legendary

Activity: 1498

Merit: 1000

Quote from: alexeft on March 16, 2013, 06:20:31 PM

Mπιτ κόιν. It's the same.

Their English knowledge is perfect most of the times - used to be a British colony.

Aδέρφια Kύπριoι πόσoι είστε εδώ μέσα??

arklan

legendary

Activity: 1778

Merit: 1008

ya know that feeling when you're riding a roller coaster, climbing the first big hill or such? the anticipation as you climb? yea. this triggered the same notion...

n8rwJeTt8TrrLKPa55eU

hero member

Activity: 588

Merit: 500

The hits just keep on comin':

Quote

Jeroen Dijsselbloem, the president of the group of euro area ministers, declined Saturday to rule out taxes on depositors in countries beyond Cyprus, although he said such a measure was not currently being considered.[...]

Quote

The Central Bank of Cyprus, in a letter to Cypriot banks has ordered all banks to temporarily freeze money orders and funds transfers, reports Eυρωπαϊκή Kρίση Xρέoυς.

The letter dated March 16, 2013 is marked "confidential" and temporarily prohibits institutions subject to supervision by the Central Bank from issuing money orders or any other transfer of funds using any payment system or clearing and settlement systems, within or outside the Republic, including transfers within the same institution.

http://www.economicpolicyjournal.com/2013/03/euro-minister-doesnt-rule-out-taxes-on.html

bracek

hero member

Activity: 530

Merit: 500

Quote from: Piper67 on March 16, 2013, 10:57:17 AM

Quote from: darkmule on March 16, 2013, 10:13:19 AM

It is difficult to comprehend the short-sighted insanity of this decision. Basically they are saying, stay the fuck away from our banks. I'm not sure how you could devise a policy more likely to generate long-term instability.

And yet, people have short memories. These moves have happened before, and in less than a decade people are again putting money into the same banks.

this kind of memories will get built into bitcoin price

mccorvic

hero member

Activity: 518

Merit: 500

Quote from: nexus6 on March 16, 2013, 09:51:39 AM

They have blocked all the Cypriot bank accounts..
http://www.reddit.com/r/europe/comments/1aeht8/eurozone_and_imf_agree_10bneuro_cyprus_bailout/c8wouo2

I don't know how to Reddit, but moar peeps should be bittipping in there Cheesy

alexeft

legendary

Activity: 854

Merit: 1000

Mπιτ κόιν. It's the same.

inge

sr. member

Activity: 298

Merit: 250

How do you say "Bitcoin" in Greek-Cypriot?...

01BTC10

vip

Activity: 756

Merit: 503

Quote from: Lethn on March 16, 2013, 09:52:45 AM

Bitcoin users not affected Cheesy

Beauxe

newbie

Activity: 20

Merit: 0

Exhibit A about why every household should own a meaningful amount of bitcoins:

http://www.zerohedge.com/news/2013-03-16/europe-does-it-again-cyprus-depositor-haircut-bailout-turns-saver-panic-bank-runs-br

Piper67

legendary

Activity: 1106

Merit: 1001

Quote from: darkmule on March 16, 2013, 10:13:19 AM

It is difficult to comprehend the short-sighted insanity of this decision. Basically they are saying, stay the fuck away from our banks. I'm not sure how you could devise a policy more likely to generate long-term instability.

And yet, people have short memories. These moves have happened before, and in less than a decade people are again putting money into the same banks.

But I agree, this is a win for Bitcoin in the long run.

Brushan

member

Activity: 224

Merit: 10

Great idea by Bitcoin-Central! We need to take advantage of news like these. Especially for those talking about how converting your savings into Bitcoin is a big risk.

davout

legendary

Activity: 1372

Merit: 1007

1davout

Bitcoin-Central.net is offering a Cyprus special.

n8rwJeTt8TrrLKPa55eU

hero member

Activity: 588

Merit: 500

This news could start a chain reaction with several dominoes falling.

Imgagine how much a single Bitcoin would be worth and how much momentum Bitcoin would have gotten if it had been developed in 2006 and had been established by the time the financial crisis of 2008 rolled around.

Next week should be very interesting in financial and BTC markets.

Wekkel

legendary

Activity: 3108

Merit: 1531

yes

Quote from: darkmule on March 16, 2013, 10:13:19 AM

It is difficult to comprehend the short-sighted insanity of this decision. Basically they are saying, stay the fuck away from our banks. I'm not sure how you could devise a policy more likely to generate long-term instability.

QFT. There is no end to current stupidity.

darkmule

legendary

Activity: 1176

Merit: 1005

It is difficult to comprehend the short-sighted insanity of this decision. Basically they are saying, stay the fuck away from our banks. I'm not sure how you could devise a policy more likely to generate long-term instability.

Isokivi

hero member

Activity: 910

Merit: 1000

Items flashing here available at btctrinkets.com

Definetley good news for bitcoin, but only in the long run. Atm's are out of money by now, online acces to funds is down and when people can acces their funds tuesday the tax has allready been taken.

Topic: z (Read 5519 times)