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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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Tue, 06/16/2015 - 14:14 | 6202630 DetectiveStern
Tue, 06/16/2015 - 14:18 | 6202648 Pladizow
Pladizow's picture

And shortly after Cypus, Bitcoin pulled a Wiley Coyote!

Tue, 06/16/2015 - 14:20 | 6202654 Waylon Bits
Waylon Bits's picture

FUCK YA BITCOIN WOOOOHOO!!!!!!!!!!!!!!!!!

Tue, 06/16/2015 - 14:21 | 6202668 nope-1004
nope-1004's picture

Your G0atR1DER handle was more unique, Fone.

 

Tue, 06/16/2015 - 14:22 | 6202673 Waylon Bits
Waylon Bits's picture

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

Tue, 06/16/2015 - 14:48 | 6202805 Waylon Bits
Waylon Bits's picture

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.

Tue, 06/16/2015 - 14:56 | 6202847 Pool Shark
Pool Shark's picture

 

 

"Spike."

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

http://tinyurl.com/n3fhsvt

 

Tue, 06/16/2015 - 15:15 | 6202944 MonetaryApostate
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!)

Tue, 06/16/2015 - 15:20 | 6202969 Bunghole
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.

 

Tue, 06/16/2015 - 15:31 | 6203006 lordylord
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.

Tue, 06/16/2015 - 15:39 | 6203029 Waylon Bits
Waylon Bits's picture

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.

Tue, 06/16/2015 - 15:47 | 6203056 lordylord
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.

Tue, 06/16/2015 - 15:54 | 6203083 Waylon Bits
Waylon Bits's picture

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.

Tue, 06/16/2015 - 16:48 | 6203241 Prisoners_dilemna
Prisoners_dilemna's picture

Bitcoin is much more sanitary than fiat currency.

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

 

Tue, 06/16/2015 - 17:10 | 6203294 Scarlett
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.

Tue, 06/16/2015 - 17:16 | 6203320 wildbad
wildbad's picture

inconcievable

Tue, 06/16/2015 - 14:58 | 6202858 stacking12321
stacking12321's picture

who is "we"?

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

resistance is futile!

Tue, 06/16/2015 - 15:40 | 6203033 Waylon Bits
Waylon Bits's picture

Teh we is an assortment of virtual personas.

Tue, 06/16/2015 - 15:12 | 6202925 Dame Ednas Possum
Dame Ednas Possum's picture

Oooooooooaaaarrrggggaaaahhhhhhyyyyeeeaaaaahhhhaaahhhh yeah baby.

When argamedon hits I WANT FUCKING DIGITS ON A FUCKING SCREEN TO MAKE ME FEEL SAFE.

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.

Tue, 06/16/2015 - 17:35 | 6203392 crazytechnician
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 .......

Wed, 06/17/2015 - 07:32 | 6204899 Slomotrainwreck
Slomotrainwreck's picture

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

Tue, 06/16/2015 - 14:21 | 6202669 Pladizow
Pladizow's picture

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

Tue, 06/16/2015 - 14:23 | 6202676 Waylon Bits
Waylon Bits's picture

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

Tue, 06/16/2015 - 14:37 | 6202742 Condition 1SQ
Condition 1SQ's picture

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

Tue, 06/16/2015 - 14:43 | 6202770 Waylon Bits
Waylon Bits's picture

Under teh grips in we Colt.

Tue, 06/16/2015 - 15:23 | 6202988 Bunghole
Bunghole's picture

No wonder Colt declared Chapter 11 yesterday.

Tue, 06/16/2015 - 14:36 | 6202738 Condition 1SQ
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 ..

Tue, 06/16/2015 - 16:54 | 6203253 Prisoners_dilemna
Prisoners_dilemna's picture

http://www.zerohedge.com/news/2015-04-01/greek-finmin-greece-will-adopt-...

 

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!

Tue, 06/16/2015 - 17:21 | 6203338 Pseudonymous
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.

Tue, 06/16/2015 - 17:40 | 6203404 crazytechnician
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 ,.....

Wed, 06/17/2015 - 08:01 | 6204945 Slomotrainwreck
Slomotrainwreck's picture

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

Tue, 06/16/2015 - 16:01 | 6203106 danster82
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.

Tue, 06/16/2015 - 15:49 | 6203059 Kotzbomber747
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.

Tue, 06/16/2015 - 16:56 | 6203263 Prisoners_dilemna
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??

 

 

Tue, 06/16/2015 - 18:05 | 6203497 crazytechnician
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.

Tue, 06/16/2015 - 14:20 | 6202658 Waylon Bits
Waylon Bits's picture

BITCOIN IS AMAZING!!

Tue, 06/16/2015 - 14:23 | 6202674 firstdivision
firstdivision's picture

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

Tue, 06/16/2015 - 14:24 | 6202679 Waylon Bits
Waylon Bits's picture

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

Tue, 06/16/2015 - 14:28 | 6202693 NoDebt
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.

Tue, 06/16/2015 - 14:31 | 6202711 Waylon Bits
Waylon Bits's picture

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!

Tue, 06/16/2015 - 14:34 | 6202728 firstdivision
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.

Tue, 06/16/2015 - 14:37 | 6202743 Waylon Bits
Waylon Bits's picture

Is your computer software "real" you fooking dumbass?

Tue, 06/16/2015 - 14:46 | 6202782 firstdivision
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. 

Tue, 06/16/2015 - 14:53 | 6202826 Waylon Bits
Waylon Bits's picture

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!

Tue, 06/16/2015 - 14:58 | 6202854 firstdivision
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. 

Tue, 06/16/2015 - 16:49 | 6203239 crazytechnician
crazytechnician's picture

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

Grow a brain you moron.

Tue, 06/16/2015 - 17:03 | 6203276 Prisoners_dilemna
Prisoners_dilemna's picture

Porn.com does over 10% of its business in BTC.

http://www.coindesk.com/bitcoin-10-percent-porn-com-sales/

 

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.

http://www.coindesk.com/nyse-chairman-millennials-trust-bitcoin-more-tha...

Tue, 06/16/2015 - 14:42 | 6202765 Waylon Bits
Waylon Bits's picture

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

Tue, 06/16/2015 - 16:45 | 6203233 allgoodmen
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.

Tue, 06/16/2015 - 17:23 | 6203348 crazytechnician
crazytechnician's picture

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

Never again ?

It's only happened 5 times before.

Tue, 06/16/2015 - 19:39 | 6203780 Prisoners_dilemna
Prisoners_dilemna's picture

Bitcoin appreciated 6000% against the dollar in one year.

The Federal Reserve Note appreciated against ANY scarce benchmark..... NEVER.

Honeybadger dont give a f*ck, Bitchez.

 

You might like www.fiatleak.com    

 

Tue, 06/16/2015 - 15:16 | 6202949 cheech_wizard
cheech_wizard's picture

And the award for stupidity on display goes to...

Tue, 06/16/2015 - 14:47 | 6202797 Bunga Bunga
Bunga Bunga's picture

It's a FREE market, bitchez!

Tue, 06/16/2015 - 15:15 | 6202941 solid12345
solid12345's picture

First off anyone who kept their wealth on an exchange wasn't exactly bright to begin with, it was an exchange, not a bank.

Second, it's the typical growing pains of a low-liquidity new technology. When you have 1 bot controlling 80% of the world's Bitcoin volume, yeah it's easy to make massive pump and dumps like that happen. There are many ways to criticize Bitcoin but don't blame the currency for human behavior and corruption. 

Tue, 06/16/2015 - 17:38 | 6203401 nuubee
nuubee's picture

Actually it took 14 months to drop that distance, and it's been ~stable between ~$190 and $250 since then. Exaggerration doesn't help your point.

Tue, 06/16/2015 - 14:28 | 6202699 oddjob
oddjob's picture

I get that Blythe Masters is trading Bitcoin now.

Tue, 06/16/2015 - 14:38 | 6202750 Waylon Bits
Waylon Bits's picture

According to ZH dolts the only interesting aspect about Bitcoin is how many FRN they cost to buy and the variance over time.

Tue, 06/16/2015 - 14:47 | 6202793 firstdivision
firstdivision's picture

Digital tulips.

Tue, 06/16/2015 - 14:54 | 6202835 Waylon Bits
Waylon Bits's picture

Is everything in your life you don't understand "tulips"?  Must smell very fresh in yer world....

Tue, 06/16/2015 - 15:00 | 6202863 firstdivision
firstdivision's picture

Engilsh motherfucker!  Do you speak it?  I see from your shitty English skills you're some loser from a former Soviet Bloc country with a massive AIDS epidemic.  Hopefully you catch a case of it.

Tue, 06/16/2015 - 16:45 | 6203224 crazytechnician
crazytechnician's picture

Yawn , Digital Tulips are so 2011 , didn't you move onto Ponzi in 2012 ? or Scam in 2013 ? or how the government were going to EMP bitcoin or take down the power grid to stop bitcoin , that was in 2014 .. You need to get up to speed , atleast try to think up something original , we are now in 2015 ...

Tue, 06/16/2015 - 14:55 | 6202838 Meat Hammer
Meat Hammer's picture

Bitcoin threads are akin to watching bad porn...they give you your fix but you feel a little worse about yourself after.

Tue, 06/16/2015 - 15:56 | 6203096 Waylon Bits
Waylon Bits's picture

Waylon Bits is here to help.

Tue, 06/16/2015 - 14:16 | 6202636 walküre
walküre's picture

Fed is buying EUR to fight USD appreciation. They're trying to fight like the Swiss did. Maybe announcing a "fix" or "peg" in the next couple weeks. Then at some point later-on when the pressure gets too expensive, they will drop it and EUR is in freefall to 70 cents on the Dollar. I would not want to hold any EUR longs over the next couple months until this is sorted.

Tue, 06/16/2015 - 14:20 | 6202657 Wolferl
Wolferl's picture

The Greek end game is here, no matter how it ends. Expect Euro/Dollar at 1,25 or 1,30 till year end.

Tue, 06/16/2015 - 14:25 | 6202682 Waylon Bits
Waylon Bits's picture

Bitcoin will go to amazing hIghT5 after Grexit Season 6!

Tue, 06/16/2015 - 15:12 | 6202923 walküre
walküre's picture

Agree on the end game outlook but the EUR weakness is not just due to Greece. Still too many structural problems in most parts of EZ and ECB in a corner to keeping rates low or the economy blows up.

Fed is on a path to somewhere... not sure where...

If USD doesn't hold here then oil goes back to $85 or higher.

Sorry, don't see that happening. EURUSD still going closer to par by year's end.

Tue, 06/16/2015 - 14:21 | 6202662 Bunga Bunga
Bunga Bunga's picture

Buying each other's currency to devalue their own currency sounds way retarded. Buying gold and bitcoins would be a little bit smarter here. Do Yellen, Draghi, Kuroda, Carney have enough of a brain?

Tue, 06/16/2015 - 14:49 | 6202806 Freedom In Your...
Freedom In Your Lifetime's picture

When something sounds this obviously retarded, yet they still do it, perhaps it would be wise to questions their stated motives?

Tue, 06/16/2015 - 14:16 | 6202637 NoDebt
NoDebt's picture

If you say Satoshi 3 times he's gonna appear just like Beetlejuice.  So everyone shut the fuck up.

Tue, 06/16/2015 - 14:19 | 6202652 meghaljani
meghaljani's picture

Satoshi, Satoshi, Satoshi, Satoshi, Satoshi. 

Tue, 06/16/2015 - 14:21 | 6202670 Waylon Bits
Waylon Bits's picture

fonestar is with you and also with you!

Tue, 06/16/2015 - 14:24 | 6202681 NoDebt
NoDebt's picture

See?

Tue, 06/16/2015 - 14:58 | 6202860 Waylon Bits
Waylon Bits's picture

classic fonestar action

Tue, 06/16/2015 - 14:20 | 6202656 Dr. Engali
Dr. Engali's picture

Satoshi, Satoshi, Satoshi...... Am I supposed to click my heels three times?

Tue, 06/16/2015 - 14:25 | 6202684 NoDebt
NoDebt's picture

No, that's to make him go away again.

Tue, 06/16/2015 - 14:21 | 6202664 Waylon Bits
Waylon Bits's picture

"If you say Satoshi 3 times he's gonna appear just like Beetlejuice.  So everyone shut the fuck up."

 

Teh we is already here!!!

Tue, 06/16/2015 - 14:40 | 6202755 Al Capowned
Al Capowned's picture

If you say 'Fractional reserve banking' 3 times your fiat disappears

Tue, 06/16/2015 - 15:03 | 6202881 knukles
knukles's picture

If you say Rachel Dolezal three times, you'll never again have to worry about a 4 hour erection.

Tue, 06/16/2015 - 14:17 | 6202642 CarpetShag
CarpetShag's picture

Good luck converting the BCs back to fiat via those corrupt exchanges.

Tue, 06/16/2015 - 14:22 | 6202671 Al Capowned
Al Capowned's picture

The whole point of Bitcoin is that ultimately there is no intention to convert back to fiat.

However, there are multiple exchanges that are easy to use. Best practice IMO, is to carry out the transaction on the exchange and transfer the bitcoins intro your own wallet.

Tue, 06/16/2015 - 14:30 | 6202706 CarpetShag
CarpetShag's picture

" no intention to convert back to fiat..."
my local supermarket and gas station - and anywhere else I spend money - do not know what the fuck BC is. So do I admire my wallet and starve?

Tue, 06/16/2015 - 14:49 | 6202810 Bunga Bunga
Bunga Bunga's picture

When fiat goes hyperbolic, they will learn quickly.

Tue, 06/16/2015 - 15:01 | 6202875 CarpetShag
CarpetShag's picture

When fiat goes hyperbolic, the last thing that will be accepted is an electronic abstraction that is backed by nothing. Barter will occur first.

Tue, 06/16/2015 - 15:10 | 6202911 Bunga Bunga
Bunga Bunga's picture

It's the power and beauty of encryption what it's backed by.

Tue, 06/16/2015 - 14:33 | 6202716 nope-1004
nope-1004's picture

That doesn't make alot of sense for 2 reasons:  If it's not convertible, as you say it shouldn't be, then it's not an asset.  At that point it is only fiat.

Secondly, the only way to fulfill Bitcoin's universal acceptance is to tell .gov, the Fed, the EU, and the big western banks to "please move aside".  IMO, that's not gonna happen.

 

Tue, 06/16/2015 - 14:37 | 6202741 koreangold
koreangold's picture

So its gonna me tricky in 1/10 of the world. Damn you're right. I hope areoplanes get invented someday. 

Tue, 06/16/2015 - 14:38 | 6202747 Al Capowned
Al Capowned's picture

Bitcoin is a currency that you can convert back to fiat if you want. However most bitcoiners sitting on 100's 1000 % gains are not really seeing a business case for converting back to fiat on a long term basis. Maybe to trade but most have the intention of Bitcoin becoming a parralell competing currency.

This picture explains what I am trying I get at

https://www.google.co.uk/search?q=matrix.bitcoin&client=safari&hl=en-gb&...

Tue, 06/16/2015 - 14:40 | 6202754 Waylon Bits
Waylon Bits's picture

Correct.  This is a one-way trade and we do not go back.  When your eyes feast upon the gleam of Satoshi's sword you lose all appetite for government fiat.

Tue, 06/16/2015 - 14:29 | 6202702 Bunga Bunga
Bunga Bunga's picture

The fiat system is the actually corrupt here. Good luck with your fiat after printing, haircut, bail-in and nirp. The only real thing will be bitcoin - no power can manipulate it. If you don't like your exchange there will be enough people who will beg for bitcoin in order to sell you real values like land, guns, ammo, gold, food ....

Tue, 06/16/2015 - 14:35 | 6202734 koreangold
koreangold's picture

Thats so 2013. You can buy almost anything with Bitcoin now. 

Tue, 06/16/2015 - 14:54 | 6202830 Bunghole
Bunghole's picture

Let me know when Overstock starts selling food and gasoline, assclown.

Tue, 06/16/2015 - 15:12 | 6202924 Bunga Bunga
Bunga Bunga's picture

Gyft.

Tue, 06/16/2015 - 16:02 | 6203110 Kaervek
Kaervek's picture

Use google you fucking asshat

Tue, 06/16/2015 - 19:43 | 6203818 Zorrohodge
Zorrohodge's picture

You can get Up to $1000 per week directly into Barclays account via circle iOS app(Goldman Sachs funded startup)

Tue, 06/16/2015 - 14:18 | 6202645 Al Capowned
Al Capowned's picture

Bitcoin ATH by year end, Bitcoin is now adding 30K , 40K new users a week by latest estimates at this rate it could reach S-curve adoption pretty soon.

More and more people are realising Bitcoin is not just a currency, it's a asset and platform on which a million applications can be built. The potential utility of Bitcoin and it's underlying network is almost limitless and this is what will ultimately drive it's value to levels unthinkable now.

Tue, 06/16/2015 - 14:20 | 6202660 Pool Shark
Pool Shark's picture

 

 

Funny,... I heard the same thing when Bitcoin was sitting at $1,200...

Tue, 06/16/2015 - 14:25 | 6202685 Al Capowned
Al Capowned's picture

Exactly, the fundamentals have not changed just the price due to speculation. Even with the pull back (as we have seen multiple times)with Bitcoin, it is still the best performing asset in the last 5 years.

But if you have not realised this, you probably got hook, line sinkered by the MSM propaganda into thinking it's performance has been bad

Tue, 06/16/2015 - 14:39 | 6202752 Condition 1SQ
Condition 1SQ's picture

Actually the MSM pumped the hell out of Bitcoin as it climbed to $1200.  I think it's actually the MSM who suckered people into hopping onboard a rocket ship with finite fuel and no parachute.  When you cherry pick the time frames, anything can look good.

Tue, 06/16/2015 - 14:58 | 6202853 silvermail
silvermail's picture

There is a sign the market: If the Bitcoin rising again, then the sheep will soon again be cropped.

Tue, 06/16/2015 - 15:15 | 6202942 sleigher
sleigher's picture

It is interesting how similar this graph:

http://fixwillpower.com/wp-content/uploads/2013/04/bubble.jpg

 

is with this 1D graph:

https://bitcoinwisdom.com/markets/bitstamp/btcusd

 

 

 

Tue, 06/16/2015 - 14:32 | 6202709 Bunga Bunga
Bunga Bunga's picture

Will get more funny at $12,000 .. $120,000 ... $1,200,000 ... $12,000,000 ...

Tue, 06/16/2015 - 14:34 | 6202727 koreangold
koreangold's picture

I heard the same thing when Gold dropped to 1$.

Tue, 06/16/2015 - 14:26 | 6202692 Waylon Bits
Waylon Bits's picture

The world has never seen a wealth-transfer vehicle like Bitcoin before.  Talking about Visa, Mastercard and PayPal compared to Bitcoin is talking about biplanes compared to an SU-27 fighter.

Tue, 06/16/2015 - 14:34 | 6202723 Bunga Bunga
Bunga Bunga's picture

It's like a pocket calculator compared to an Abacus.

Tue, 06/16/2015 - 14:40 | 6202749 Bunghole
Bunghole's picture

It's like a Dolezal compared to a Sharpton.

One may be a wigger and one may be a nigger, but both are frauds.

Tue, 06/16/2015 - 14:47 | 6202796 crazytechnician
crazytechnician's picture

It's the Jet Engine of Money.

Fiat being an old wooden sailing ship that's about to sink.

Tue, 06/16/2015 - 17:56 | 6203387 Prisoners_dilemna
Prisoners_dilemna's picture

Bitcoin is a sexy virgin, fiats a broken hooker.

PMs are the reliable neighbor lady but she's aging.

 

Tue, 06/16/2015 - 14:25 | 6202683 Bunghole
Bunghole's picture

I would suggest anyone interested in bitcoin look at the price starting Jan 2015 and tell me if BTC is spiking.

 

Tue, 06/16/2015 - 14:35 | 6202733 Bunga Bunga
Bunga Bunga's picture

The same is true for gold and silver. But not long anymore.

Tue, 06/16/2015 - 14:56 | 6202844 disabledvet
disabledvet's picture

Gold and silver getting hammered today as equities surge yet again.

 

Gold and silver miners doing great. Funny that Greece has the largest gold deposit in Western Europe but "Prime Minister Tsyprus" can't get out of his own way.

 

The only way to win is not to play and, well..has he missed a single European Capital during his world tour?

 

Any who if I compound 25% on my "eminently repayable debt" with one hundred grand at the principle that would be 125,000 after year one but then 25 grand plus 25% on that in year two...an extra six plus grand or 31 grand in interest in year two.

 

And so on and so forth.

 

Always good to know "they're just a billion euros apart" still though.

Tue, 06/16/2015 - 14:44 | 6202777 Al Capowned
Al Capowned's picture

"I would suggest anyone interested in bitcoin look at the price starting Jan 2015 and tell me if BTC is spiking."

Yes the best way to analyse a long term investment is to look at the last 3 months and no other data. Wise words.

Tue, 06/16/2015 - 14:28 | 6202701 Seasmoke
Seasmoke's picture

Why does anyone need BTC, when you can hold beautiful Gold in your hands and it does everything and more than BTC ???

Tue, 06/16/2015 - 14:30 | 6202707 koreangold
koreangold's picture

Government confiscation, dead easy. 

 

Do you know my Bitcoin address?

Tue, 06/16/2015 - 14:41 | 6202759 Pool Shark
Pool Shark's picture

 

 

No, but you can bet the NSA does...

 

 

Tue, 06/16/2015 - 16:08 | 6203131 Kaervek
Kaervek's picture

Read up brother: https://en.wikipedia.org/wiki/Public-key_cryptography

There are ways to make sure nobody will ever know how many coins you own. That's one of the reasons it's so beautiful.

Tue, 06/16/2015 - 14:41 | 6202762 Bunghole
Bunghole's picture

Do you or they know where or how much gold I have?

Didnt think so, sparky. 

Tue, 06/16/2015 - 14:35 | 6202726 Waylon Bits
Waylon Bits's picture

Why does anyone need BTC?  Gee the we don't know.... why would we want something we order to show up at we door in a few days when we could be waiting weeks?  For them to receive the gold bars we sent them?

DURR..................

Tue, 06/16/2015 - 14:44 | 6202776 Bunga Bunga
Bunga Bunga's picture

"you can hold beautiful Gold in your hand" ... but doing commerce would be kinda complicated over longer distances. That's why banks invented that (fraudelent) accounting system, where they exchange just numbers over the telegraph, people trust (those nowadays nonexisting) reserves sitting in a distant vault and charge insane fees for that. It's like using a 19th century payment system in the 21st century. Bitcoin cuts those leeches out, bitcoin is the adequate solution to 21st century commerce.

Tue, 06/16/2015 - 14:44 | 6202779 koreangold
koreangold's picture

Good luck getting out of the US with a suitcase full of Gold Ron Paul 2012 Commemorative coins when the shit hits the fan. 

Tue, 06/16/2015 - 14:59 | 6202861 Citxmech
Citxmech's picture

Are you kidding?  If/when the shit hits the fan, gold will get you through a border checkpoint sooner than BC will.  

Tue, 06/16/2015 - 15:13 | 6202919 crazytechnician
crazytechnician's picture

Yeah , you may get through it if your lucky , but your gold won't , fucking dumb-a$$

Tue, 06/16/2015 - 17:29 | 6203372 Citxmech
Citxmech's picture

When you're fleeing the country - isn't actually getting through the border the priority?

You think some corrupt border agent is going to take BC?

Tue, 06/16/2015 - 20:09 | 6203529 crazytechnician
crazytechnician's picture

The whole point of fleeing a country surely is to preserve (some of) your wealth. Otherwise there is no point fleeing right ?

 

Wed, 06/17/2015 - 14:03 | 6206314 Citxmech
Citxmech's picture

I would think one's life comes first.

Tue, 06/16/2015 - 14:56 | 6202849 Freedom In Your...
Freedom In Your Lifetime's picture

Only my opinion here, but I could see bitcoin or something like it being used to replace digital currency now (frn's, euro's, etc) for things like internet commerce which gold / silver / copper don't work so well for. Those would all be fine and dandy for savings and person to person transactions though.

Sometime in the near future I wouldn't be surprised to see a digital currency similar to bitcoin which is tied to physical assests where you can get the best of both worlds.

Tue, 06/16/2015 - 15:36 | 6203008 overqualified
overqualified's picture

In the present you can already buy gold and silver for BTC in a number of places, and you can even trade them for BTC and store them in Singapore here: http://tinyurl.com/nku4tjp

Tue, 06/16/2015 - 14:29 | 6202704 koreangold
koreangold's picture

Bitcoin is great but Gems will make you all rich if you can get past the mental constipation that too much gold has given you all. Its the next big thing.

 https://play.google.com/store/apps/details?id=org.getgemsmessenger.app&h...

Tue, 06/16/2015 - 14:29 | 6202705 Bill of Rights
Bill of Rights's picture
Ousted Spokane NAACP head sued Howard U. for discrimination, claiming she was white

 

http://www.foxnews.com/us/2015/06/16/ousted-spokane-naacp-head-sued-howa...

 

Oh the Hypocrisy ha ha ha

Tue, 06/16/2015 - 14:36 | 6202737 Waylon Bits
Waylon Bits's picture

Keep that fake black shite out of we Bitcoin thread you *&(IY!!

Tue, 06/16/2015 - 14:37 | 6202744 Bill of Rights
Bill of Rights's picture

Shit coin is on the same level as the fake black shit wouldn't you say?

Tue, 06/16/2015 - 14:44 | 6202780 Waylon Bits
Waylon Bits's picture

We will fucking ass rape your mind from behind if you call Satoshi's creation into question!

Tue, 06/16/2015 - 14:52 | 6202821 crazytechnician
crazytechnician's picture

Good luck down there wallowing in your own ignorance. I hope you manage to crawl out of the slime one day.

Tue, 06/16/2015 - 14:31 | 6202712 Thick Willy
Thick Willy's picture

But my children, they need wine!

Tue, 06/16/2015 - 14:36 | 6202739 Glass Seagull
Glass Seagull's picture

 

 

But can the average Greek that isn't technically inclined enough to buy BTC afford a silver coin or a gold coin for alternative ex-bank saving relative to BTC?

Tue, 06/16/2015 - 14:45 | 6202785 Waylon Bits
Waylon Bits's picture

You know what... it's about time the "less technically inclined" go into a cave and die. 

Tue, 06/16/2015 - 14:47 | 6202798 koreangold
koreangold's picture

What you fucktards really need to understand is the appropriate strategy is Gold AND Bitcoin. 

Tue, 06/16/2015 - 14:56 | 6202842 Al Capowned
Al Capowned's picture

Exactly people seem to think that ownership of precious metals and Bitvoin for some reason needs to be mutually exclusive. Both offer a hedge against debasement of fiat and protection from counterparty risk.

Tue, 06/16/2015 - 18:04 | 6203493 Prisoners_dilemna
Prisoners_dilemna's picture

As long as one stores his own gold and bitcoins, there is no counter party risk.

 

I love looking at my PM stack, safely stored away, hopefully bureaucrats and thieves wont take it.

 

My bitcoins. Those are vaulted in my mind.

And backed up in the minds of the same people I trust to open my safe without me.  

Tue, 06/16/2015 - 19:25 | 6203758 crazytechnician
crazytechnician's picture

+ 1

Tue, 06/16/2015 - 14:48 | 6202803 6th of May
6th of May's picture

Well,

Bitcoin is at least a very good option next to other currencies.

You can store your Coins totally safe, you can withdraw whenever you want, you can store whenever you want..it's yours and if you are not stupid enough to store it on an exchange, it will stay yours!

 

I don't understand why people say it has no value and call it therefore stupid. Since there is demand, it's something that people want... good enough for me.

U don't like hearing it, but for ppl living in Venezuela wish having Bitcoins by now... inflation goes bananas over there. People call for Gold and Silver... yes, they are great too... buy them, but don't forget to buy some bitcoin.

Tue, 06/16/2015 - 14:57 | 6202832 Dre4dwolf
Dre4dwolf's picture

Banks should be ashamed of themselves, robbing farmers and poor people.

 

No one in Greece is really "rich" everyone has been farming for generations there, its just poor people and their farms for the most part, maybe 10% of the population has a small 5 room inn / tavern that they make a living from.... these people should not be taxed, because the very act of taxing them destroys the culture people go there to enjoy.

If you start taxing and industrializing greece it would turn into a shit pool like New York , no one wants to swim in NY water its disgusting.... thats what taxation and industrialization brings.

Greece is about beauty, culture, class and eating and living and breathing what makes life, life.

Once you try and tie all that up with red-tape , package, brand, tax and export that , it wont exist anymore.

You can take the money from the people, but at the end of the day its worthless without them to back it.

 

Greek citizens have voted with their money, they have withdrawn their money from the banks, refused to pay absurd taxes, and closed their businesses down rather than obey foreign economic laws.

Greeks have quite literally thrown their bodies on the gears of the great machine in order to destroy it and exile it from their nation, a small price to pay for true freedom.

There will be short-term pain while they transition back to drachmas, but it will be nothing like the long-term pain the Euro and the ECB would of inflicted on them for decades.

It never occurs to the world that its not GREECE thats wrong, that ITS THEM, its western life / northern Europe's way of life that is the REAL PROBLEM.

If you tax this

http://images-resrc.staticlp.com/C=W787,H759,X0,Y0/S=W394,H380/O=85//med...

You turn it into this

https://upload.wikimedia.org/wikipedia/commons/thumb/d/db/Dharavi_Slum.j...

 

Easy choice.

Tue, 06/16/2015 - 14:54 | 6202834 Al Capowned
Al Capowned's picture

Buying and storing small amounts of bitcoin is actually really easy. there are multiple
Guides available via the World Wide Web which are accessible from multiple devices that are connected to the internet.

Tue, 06/16/2015 - 15:03 | 6202883 Bunga Bunga
Bunga Bunga's picture

Storing big amounts of bitcoin is easy and safe too. Just need to store a passphrase in your brain, written on paper, engraved in a ring aso.

Tue, 06/16/2015 - 17:30 | 6203374 crazytechnician
crazytechnician's picture

"engraved in a ring aso"

That sounds fucking painful ...

This is a much better solution:

http://get.cryptosteel.com/

 

 

Tue, 06/16/2015 - 15:00 | 6202866 Meat Hammer
Meat Hammer's picture

I bought 1 BTC at $20, watched it climb to $1,200 and fall to whateverthefuck it's at today. I'll keep it forever because the worse it will ever be is a $20 loss. It's been fascinating to watch.

Tue, 06/16/2015 - 16:17 | 6203154 Kaervek
Kaervek's picture

So you got a 1000% ROI already and still think there are other, better, investment opportunities today?

Tue, 06/16/2015 - 15:04 | 6202890 koreangold
koreangold's picture

Plus Bitcoin is about the only real chance that the whole fucking system can be taken down. The central banks CANT print Bitcoin. Bitcoin is like a good virus that will infect the whole patient eventually. For the life of me I can't undertsnad why the Gold bugs here can't get behind Bitcoin. Shit even Mike Fucking Gold Maloney is positive about Bitcoin. 

Tue, 06/16/2015 - 15:20 | 6202975 Bunga Bunga
Bunga Bunga's picture

So get infected early, then you will have biggest chances of survival.

Tue, 06/16/2015 - 16:35 | 6203204 Pseudonymous
Pseudonymous's picture

When I first learned of Bitcoin first there was a certain incubation period. Then I got fever but that was a fever for gold, rather than for bitcoin. I had been thinking of buying gold before that but never got around to it until after I learned of Bitcoin and it made me think deeply about the nature of money, economics and everything else. So I quickly developed gold and silver fever, perhaps because it was simpler to see why owning gold and silver makes good sense. But then it took a longer time until I learned enough about Bitcoin and realized that it makes perfect sense to own and use bitcoin too. So now I have a sober mind and keep some gold, silver and bitcoin.

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