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Bitcoin Spikes As Greeks Follow Cyprus "Template"
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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Meanwhile in Germany.
https://www.youtube.com/watch?v=kQeKskCvJwc
And shortly after Cypus, Bitcoin pulled a Wiley Coyote!
FUCK YA BITCOIN WOOOOHOO!!!!!!!!!!!!!!!!!
Your G0atR1DER handle was more unique, Fone.
gh0atrider and fonestar and Waylon and RU-GAY2 all the same PAL for your viewing enjoyment!
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.
"Spike."
"You keep using that word; I do not think it means what you think it means..."
http://tinyurl.com/n3fhsvt
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!)
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.
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.
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.
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.
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.
Bitcoin is much more sanitary than fiat currency.
I know a guy that caught herpes from a 2 dollar bill.
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.
inconcievable
who is "we"?
there is only the one, you will be assimilated into the bitcoin collectiive.
resistance is futile!
Teh we is an assortment of virtual personas.
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.
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 .......
You can sell your Monster Box of 500 ASE's today for around 50 Bitcoins. That's somehow sad.
I don't think after the average Greek loses faith in fiat that they will turn to something even less tangible?
How is Bitcoin "less tangible"? All currencies are digital currencies and have been for the past 50+ years!
Where do you store your keys, Waylon? Computer? Slip of paper buried in a wall?
Under teh grips in we Colt.
No wonder Colt declared Chapter 11 yesterday.
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 ..
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!
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.
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 ,.....
It's the China folks, they buy anything with a chart.
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.
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.
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??
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.
BITCOIN IS AMAZING!!
You are correct. It is amazingly stupid for people to buy into it.
Amazing that ZH dolts still don't "get it" 5 YEARS later!
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.
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!
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.
Is your computer software "real" you fooking dumbass?
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.
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!
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.
Real life high-class hookers now accept bitcoin , not just your favorite porn sites.
Grow a brain you moron.
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...
Bitcoin is back in play! Teh flatliner was getting teh we down but we never lost faith in Satoshi!
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.
BTC is also fully capable of 1000% gains in a month.
Never again ?
It's only happened 5 times before.
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
And the award for stupidity on display goes to...
It's a FREE market, bitchez!
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.
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.
I get that Blythe Masters is trading Bitcoin now.
According to ZH dolts the only interesting aspect about Bitcoin is how many FRN they cost to buy and the variance over time.
Digital tulips.
Is everything in your life you don't understand "tulips"? Must smell very fresh in yer world....
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.
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 ...
Bitcoin threads are akin to watching bad porn...they give you your fix but you feel a little worse about yourself after.
Waylon Bits is here to help.
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.
The Greek end game is here, no matter how it ends. Expect Euro/Dollar at 1,25 or 1,30 till year end.
Bitcoin will go to amazing hIghT5 after Grexit Season 6!
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.
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?
When something sounds this obviously retarded, yet they still do it, perhaps it would be wise to questions their stated motives?
If you say Satoshi 3 times he's gonna appear just like Beetlejuice. So everyone shut the fuck up.
Satoshi, Satoshi, Satoshi, Satoshi, Satoshi.
fonestar is with you and also with you!
See?
classic fonestar action
Satoshi, Satoshi, Satoshi...... Am I supposed to click my heels three times?
No, that's to make him go away again.
"If you say Satoshi 3 times he's gonna appear just like Beetlejuice. So everyone shut the fuck up."
Teh we is already here!!!
If you say 'Fractional reserve banking' 3 times your fiat disappears
If you say Rachel Dolezal three times, you'll never again have to worry about a 4 hour erection.
Good luck converting the BCs back to fiat via those corrupt exchanges.
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.
" 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?
When fiat goes hyperbolic, they will learn quickly.
When fiat goes hyperbolic, the last thing that will be accepted is an electronic abstraction that is backed by nothing. Barter will occur first.
It's the power and beauty of encryption what it's backed by.
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.
So its gonna me tricky in 1/10 of the world. Damn you're right. I hope areoplanes get invented someday.
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&...
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.
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 ....
Thats so 2013. You can buy almost anything with Bitcoin now.
Let me know when Overstock starts selling food and gasoline, assclown.
Gyft.
Use google you fucking asshat
You can get Up to $1000 per week directly into Barclays account via circle iOS app(Goldman Sachs funded startup)
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.
Funny,... I heard the same thing when Bitcoin was sitting at $1,200...
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
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.
There is a sign the market: If the Bitcoin rising again, then the sheep will soon again be cropped.
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
Will get more funny at $12,000 .. $120,000 ... $1,200,000 ... $12,000,000 ...
I heard the same thing when Gold dropped to 1$.
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.
It's like a pocket calculator compared to an Abacus.
It's like a Dolezal compared to a Sharpton.
One may be a wigger and one may be a nigger, but both are frauds.
It's the Jet Engine of Money.
Fiat being an old wooden sailing ship that's about to sink.
Bitcoin is a sexy virgin, fiats a broken hooker.
PMs are the reliable neighbor lady but she's aging.
I would suggest anyone interested in bitcoin look at the price starting Jan 2015 and tell me if BTC is spiking.
The same is true for gold and silver. But not long anymore.
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.
"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.
Why does anyone need BTC, when you can hold beautiful Gold in your hands and it does everything and more than BTC ???
Government confiscation, dead easy.
Do you know my Bitcoin address?
No, but you can bet the NSA does...
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.
Do you or they know where or how much gold I have?
Didnt think so, sparky.
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..................
"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.
Good luck getting out of the US with a suitcase full of Gold Ron Paul 2012 Commemorative coins when the shit hits the fan.
Are you kidding? If/when the shit hits the fan, gold will get you through a border checkpoint sooner than BC will.
Yeah , you may get through it if your lucky , but your gold won't , fucking dumb-a$$
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?
The whole point of fleeing a country surely is to preserve (some of) your wealth. Otherwise there is no point fleeing right ?
I would think one's life comes first.
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.
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
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...
http://www.foxnews.com/us/2015/06/16/ousted-spokane-naacp-head-sued-howa...
Oh the Hypocrisy ha ha ha
Keep that fake black shite out of we Bitcoin thread you *&(IY!!
Shit coin is on the same level as the fake black shit wouldn't you say?
We will fucking ass rape your mind from behind if you call Satoshi's creation into question!
Good luck down there wallowing in your own ignorance. I hope you manage to crawl out of the slime one day.
But my children, they need wine!
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?
You know what... it's about time the "less technically inclined" go into a cave and die.
What you fucktards really need to understand is the appropriate strategy is Gold AND Bitcoin.
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.
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.
+ 1
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.
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.
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.
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.
"engraved in a ring aso"
That sounds fucking painful ...
This is a much better solution:
http://get.cryptosteel.com/
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.
So you got a 1000% ROI already and still think there are other, better, investment opportunities today?
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.
So get infected early, then you will have biggest chances of survival.
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.