Bitcoin Spikes As Greeks Follow Cyprus "Template"

Tyler Durden's picture

In March/April 2013, Bitcoin prices started to soar as Dijsselbloem's "template" applied to Cyprus prompted many to rethink money entirely. As the reality of a possible Grexit looms and Capital Controls are denied (just as they were in Cyprus), so Bitcoin prices are once again surging (up 10% in the last few days) as non-fiat currency once again becomes bid.


Cyprus... 2013



Greece... 2015


As we noted in 2013, what is really driving this surge in demand for a different kind of 'money' is the wholesale loss of faith in the status quo - nowhere is this clearer than in the words and actions of the people of Cyprus capturing the thoughts and feelings of ordinary Cypriots after their bank accounts were frozen...

"Nothing has started yet... everything is going to fall down like dominoes because people don't trust the banks."

Coming to a Greek TV station near you soon.

Source: Bitcoinwisdom

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Pladizow's picture

And shortly after Cypus, Bitcoin pulled a Wiley Coyote!

Waylon Bits's picture
Waylon Bits (not verified) Pladizow Jun 16, 2015 1:20 PM


nope-1004's picture

Your G0atR1DER handle was more unique, Fone.


Waylon Bits's picture
Waylon Bits (not verified) nope-1004 Jun 16, 2015 1:22 PM

gh0atrider and fonestar and Waylon and RU-GAY2 all the same PAL for your viewing enjoyment!

Waylon Bits's picture
Waylon Bits (not verified) Waylon Bits Jun 16, 2015 1:48 PM

When teh we first downloaded the QT client back in 2011 and started sending/receiving BTC teh we knew this was big... very big.  The we mind began to race at enormous speed thinking of teh implications of BTC dominance.

Pool Shark's picture




"You keep using that word; I do not think it means what you think it means..."


MonetaryApostate's picture

I tried to tell you guys BUY BITCOIN NOW, but most of you gave me down votes....

WELL WHO'S LAUGHING NOW???  (Hahaha!!!  & I'll keep laughing at you too!)

Bunghole's picture

So in your vaunted 22 week history, you've been pushing BTC while it sat like a turd on the rug?

I guess you majored in Revisionist History at Southern Hew Hampshire State University.


lordylord's picture

I've held on to my 0.5 BTC through it all!  It's on a flashdrive somewhere.  Just got to download a wallet and the 1TB of blockchain data before I can use it.  At my current internet speed, it should finish before the sun burns out.  How wonderful.

Waylon Bits's picture
Waylon Bits (not verified) lordylord Jun 16, 2015 2:39 PM

It will be funny in five years when some software engineers and tekk enthusiasts are living it up with Satoshi, fonestar and friends....

....and off in the corner will be the broke dick ZH readers yammering on about "intrinsic value" and whatnot, crying in their beer.

lordylord's picture

RE: Waylon Bits

Funny thing is, you and everyone else who yammers on about BTC only see it as a get rich quick scheme.  That is why it will never succeed.

BTW, those who make profits on their investments don't come on ZH to brag.  You're probably deep in the hole.

Waylon Bits's picture
Waylon Bits (not verified) lordylord Jun 16, 2015 2:54 PM

We come here to spread the gospel and wisdom of Satoshi Nakamoto.  Waylon Bits was buhing Bitcoin at $16, at $100, at $200, at $800, at $1000 and will still be buhing Bitcoin at $1,000,000,000,000 BTC.

Waylon Bits buhs Bitcoin.

Prisoners_dilemna's picture

Bitcoin is much more sanitary than fiat currency.

I know a guy that caught herpes from a 2 dollar bill.  


Scarlett's picture


In a world where truth is scarce, the truth embedded on the blockchain shuld give bitcoin an astounding long-term value.  


But yes, this is a not quick rich way.

stacking12321's picture

who is "we"?

there is only the one, you will be assimilated into the bitcoin collectiive.

resistance is futile!

Waylon Bits's picture
Waylon Bits (not verified) stacking12321 Jun 16, 2015 2:40 PM

Teh we is an assortment of virtual personas.

Dame Ednas Possum's picture

Oooooooooaaaarrrggggaaaahhhhhhyyyyeeeaaaaahhhhaaahhhh yeah baby.


Hah hahh...holding an iPad is not 'holding it'

Seriously though: soil; water; gold; lead.

It 's what allows me to sleep now.

It's what will allow me to sleep then.

crazytechnician's picture

Yawn , Armageddon ? And you think there would actually still be such a thing as soil , water , food , etc ?

It ain't gonna happen pal , and gold or silver is not gonna be the next money either , it may just play a very small part, if your lucky that is ....

Bitcoin , BTChezz .......

Slomotrainwreck's picture

You can sell your Monster Box of 500 ASE's today for around 50 Bitcoins. That's somehow sad.

Pladizow's picture

I don't think after the average Greek loses faith in fiat that they will turn to something even less tangible?

Waylon Bits's picture
Waylon Bits (not verified) Pladizow Jun 16, 2015 1:23 PM

How is Bitcoin "less tangible"?  All currencies are digital currencies and have been for the past 50+ years!

Condition 1SQ's picture

Where do you store your keys, Waylon?  Computer?  Slip of paper buried in a wall?

Waylon Bits's picture
Waylon Bits (not verified) Condition 1SQ Jun 16, 2015 1:43 PM

Under teh grips in we Colt.

Bunghole's picture

No wonder Colt declared Chapter 11 yesterday.

Condition 1SQ's picture

The truth is this surge isn't from Greeks, but non-Greeks who expect Greeks will buy Bitcoin to preserve their fiat wealth.  It's yet another Bitcoin mini-bubble ..

Prisoners_dilemna's picture


Perhaps the Greek Finance Minister saying Greece would adopt Bitcoin if no deal is made, has something to do with the current BTC price action.

Then again it was reported on that fringe blog Zerohedge, so either no one read the above article except those crazy ZHers,

or the current price action is in fact ZHers BFTBtcD!

Pseudonymous's picture

It was an April fools day prank.

I would be cautious about Bitcoin in the short term. Look for a buying opportunity in the next few months.

crazytechnician's picture

That is incorrect. All Zerohedge Flat-Earthers should wait alteast five years before buying into the bitcoin Tulip Ponzi EMP Scam. By then it will be around 5c per bitcoin and they can all fill their boots.

zerohedge = no hedging = zero bitcoin = perfect name for the Flat Earth society ,.....

Slomotrainwreck's picture

It's the China folks, they buy anything with a chart.

danster82's picture

Have you ever asked yourself why fiat (as flawed as it is) does in fact and practice work as a means of exchange of value when it is redeemable for nothing tangible?

A clue would be to discover what value is and it is not tangible.

Kotzbomber747's picture

Yeah, those bitcoins will come in real handy once ATM's stop working and Greece will suffer from power cuts because they can no longer afford to keep power stations up and running.

Prisoners_dilemna's picture

It's the money and the banks that are dying,   not the power stations.


Replace the failing money and economic life quickly returns to normal??



crazytechnician's picture

I keep my smartphone charged from a solar panel , it cost 10 bucks on eBay , bought it in the middle of a dessert . No grid power required.

Waylon Bits's picture
Waylon Bits (not verified) DetectiveStern Jun 16, 2015 1:20 PM


firstdivision's picture

You are correct.  It is amazingly stupid for people to buy into it. 

Waylon Bits's picture
Waylon Bits (not verified) firstdivision Jun 16, 2015 1:24 PM

Amazing that ZH dolts still don't "get it" 5 YEARS later!

NoDebt's picture

Something about it dropping from $1100 to less than $200 in a matter of weeks plus all the exchanges that went bust after "losing" everyone's millions of BitCoins seemed to sour people on it a little.

Waylon Bits's picture
Waylon Bits (not verified) NoDebt Jun 16, 2015 1:31 PM

Oh big Fu-King deal!  If you can't stand a 80% drop here and there don't buy Bitcoin and stay in fixed income you whiney little Birtcherz!

firstdivision's picture

I don't buy it due to it is nothing but the same as Lollars.  You're telling me it has value, when in reality it has no use and for the most part isn't even real.  Good luck with your digital monopoly money.

Waylon Bits's picture
Waylon Bits (not verified) firstdivision Jun 16, 2015 1:37 PM

Is your computer software "real" you fooking dumbass?

firstdivision's picture

Real enough for me to look at porn.  You're peddling nothing more than a glorifed public Quickbooks that wants to steal my resources and rewards me with a spot in that digital paper trail.  Again, stupidest thing ever for anyone to get involved in.  It provides zero utility and consumes valuable resource...basically its a digital federal reserve. 


Hopefully you meet a fatal end for your shilling to steal others wealth. 

Waylon Bits's picture
Waylon Bits (not verified) firstdivision Jun 16, 2015 1:53 PM

So teh bytes used to display your pr0n is "real" but the bytes used to relay a Bitcoin transaction are "fake".   Yer an idiot... gotcha!

firstdivision's picture

its as real as me fucking the girl that i'm staring at on the screen, also known as jerking off.  Which is what I'm sure you do while watching the video feed of the camera in your sisters shower. 

crazytechnician's picture

Real life high-class hookers now accept bitcoin , not just your favorite porn sites.

Grow a brain you moron.

Prisoners_dilemna's picture does over 10% of its business in BTC.


I suggest this number will only increase as adoption of the best money known to man continues.


I don't expect everyone to adopt Bitcoin....   just as there are still mennonites today driving horses and drawn carriages, 100 years after the automobile was innovated.

Waylon Bits's picture
Waylon Bits (not verified) Waylon Bits Jun 16, 2015 1:42 PM

Bitcoin is back in play!  Teh flatliner was getting teh we down but we never lost faith in Satoshi!

allgoodmen's picture

It took the Federal Reserve 50 years to cause an 80% loss in the value of the dollar, BTC did it in months.

never again.

crazytechnician's picture

BTC is also fully capable of 1000% gains in a month.

Never again ?

It's only happened 5 times before.