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Offline Empirical1.2

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Greece could be huge for Bitcoin
« on: February 07, 2015, 01:26:10 PM »

Greece will be great for Bitcoin

Bitcoin is quite a risky volatile way to store money and is only worth the effort if your current options are even riskier.

I was in BTC before the Cyprus ordeal & that was really huge for BTC at a time when few knew what BTC was.

There's a possibility of a Grexit & many bank failures soon. People in Europe will be worried about their savings too.  We could see a big Bitcoin rally in the next few weeks on the back of this.

http://www.zerohedge.com/news/2015-02-06/eurogroup-gives-greece-10-day-ultimatum

So the value of all crypto should rise. It depends if BTS releases anything in the interim as to whether we lose a bit of ground in BTC terms.
« Last Edit: February 07, 2015, 02:06:20 PM by Empirical1.2 »
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Offline mf-tzo

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Re: Greece could be huge for Bitcoin
« Reply #1 on: February 07, 2015, 03:06:23 PM »
Again...Greece doesn't need bitcoin. Greece needs Biteuros, bitgold and maybe some bitusd. We need liquidity in BTS and bitassets now!!

P.S. I do not expect a Grexit before the summer..

Offline Empirical1.2

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Re: Greece could be huge for Bitcoin
« Reply #2 on: February 07, 2015, 03:24:07 PM »
Again...Greece doesn't need bitcoin. Greece needs Biteuros, bitgold and maybe some bitusd. We need liquidity in BTS and bitassets now!!

P.S. I do not expect a Grexit before the summer..

I know BitAssets are what they need but as you hinted at in the other thread we're not in a position to benefit directly yet & while I'm Super Bearish on Bitcoin they should benefit in the event of Greek bank failures based on the Cyprus example, which should hopefully raise the value of BTS in $ terms.
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Offline donkeypong

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Re: Greece could be huge for Bitcoin
« Reply #3 on: February 07, 2015, 03:32:20 PM »
Focus first on the countries with massive INflation (such as many in South America), not DEflation (such as Greece). I think BitUSD practically sells itself when people have trouble acquiring a stable currency.

Offline Empirical1.2

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Re: Greece could be huge for Bitcoin
« Reply #4 on: February 07, 2015, 03:45:54 PM »
Focus first on the countries with massive INflation (such as many in South America), not DEflation (such as Greece). I think BitUSD practically sells itself when people have trouble acquiring a stable currency.

Of course. Blockchain.info is a top 500 site in Ukraine for exactly the reason you stated. Probably a big reason why Russia is banning Bitcoin sites too. It is also a key reason why Venezuala and Argentina are often cited as being most likely to adopt Bitcoin. Highly inflationary countries are the places I've always advocated for BitUSD even while nearly everyone in marketing (except MethodX) last year was trying to tell me we're going to hit Western Mainstream.

The opportunity in Greece revolves around bank failures and capital controls. Again obviously a huge opportunity for BitAssets but realistically one that at the current time will more immediately benefit Bitcoin and using the Cyprus effect on Bitcoin as a comparison, it stands to reason Bitcoin should benefit from this situation too.
« Last Edit: February 07, 2015, 03:48:02 PM by Empirical1.2 »
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Online chryspano

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Re: Greece could be huge for Bitcoin
« Reply #5 on: February 07, 2015, 04:20:20 PM »
I don't think the Cyprus events had a real inpact in bitcoin price, all I see in bitcoin is price manipulation, when some people want bitcoin to go up in price it goes up, when they want to crash it the price falls like a stone, Cyprus was an excuse I think for the pump or just a coincidence. Some weeks/months ago we had some very positive news from Paypal and Microsoft, those kind of news some years ago would be HUGE but this time the price kept falling!!!

The last year in bitcoin we had....

dumping from old CPU miners...
dumping from old GPU miners...
dumping from ASIC miners...
dumping from every IPO project(or whatever they are called)
dumping from scammers and shitcoin creators that managed to fill their pockets with bitcoins from every fool/idiot/stupid "investor" out there.
and finally the cherry of the pie.... dumping from traders/price manipulators.

I'm not sure if the time has come for a rise in the price of bitcoin, but when this time comes, then I'm sure it will be 20% from news and 80% price manipulation.

 

Offline Empirical1.2

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Re: Greece could be huge for Bitcoin
« Reply #6 on: February 07, 2015, 04:45:10 PM »
I don't think the Cyprus events had a real inpact in bitcoin price, all I see in bitcoin is price manipulation, when some people want bitcoin to go up in price it goes up, when they want to crash it the price falls like a stone, Cyprus was an excuse I think for the pump or just a coincidence. Some weeks/months ago we had some very positive news from Paypal and Microsoft, those kind of news some years ago would be HUGE but this time the price kept falling!!!

The last year in bitcoin we had....

dumping from old CPU miners...
dumping from old GPU miners...
dumping from ASIC miners...
dumping from every IPO project(or whatever they are called)
dumping from scammers and shitcoin creators that managed to fill their pockets with bitcoins from every fool/idiot/stupid "investor" out there.
and finally the cherry of the pie.... dumping from traders/price manipulators.

I'm not sure if the time has come for a rise in the price of bitcoin, but when this time comes, then I'm sure it will be 20% from news and 80% price manipulation.

 

The Cyprus banking crisis moved BTC from obscurity into the Spotlight and a 500% gain. It was the catalyst for the year of the Bitcoin. A lot of people wanted to move reasonable sums somewhere Govt's couldn't touch & that was free of haircuts/bail-ins. It definitely wasn't a co-incidence :) There's a similar opportunity for BTS but we just don't seem ready.

There's a lot of manipulation but the general trend for Bitcoin is down. As none of the retailers hold Bitcoin increased utility can result in increased selling pressure so big announcements from PayPal & Microsoft don't have the positive effect you'd think. Bitcoin would probably have done better if there were fewer places to spend it and it was more just a store of value instead of a transactional currency.

BitAssets have the potential to change that quite a lot as businesses can hold more of their sales in BitCurrencies & not worry about crypto volatility.

« Last Edit: February 07, 2015, 04:48:57 PM by Empirical1.2 »
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Offline fuzzy

Re: Greece could be huge for Bitcoin
« Reply #7 on: February 07, 2015, 04:52:08 PM »
Again...Greece doesn't need bitcoin. Greece needs Biteuros, bitgold and maybe some bitusd. We need liquidity in BTS and bitassets now!!

P.S. I do not expect a Grexit before the summer..

Rune and River are on it :)
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Offline mf-tzo

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Re: Greece could be huge for Bitcoin
« Reply #8 on: February 07, 2015, 08:15:24 PM »
I used to think that bitcoin skyrocketed with the Cyprus situation as Empirical says. I now know that this was not the case and I fully agree with Chryspano.. If we assume that something really bad happens to Greece and bitcoin skyrockets this will not be because Greeks are going to buy any bitcoins. It will be a pure price manipulation and a pump so bitcoin can be in the spotlight as it was with the Cyprus situation...

However if BTS was more mature by now, if all the Greek bitcoiners could learn about BTS and bitassets then I am pretty sure that a lot of Greeks would be buying like crazy any bitasset to protect themselves, then the word of mouth would spread very fast here. Greece is a very small country with some very very wealthy scared people about the current situation. BTS would skyrocket and this would be a real pump and would have nothing to do with any price manipulation...

So all in all I hope Rune and Riverhead do their best to provide some liquidity and I really hope things to start get really fast now because there is no much time left...Grexit will be either the next 10 days or the next 6 months (i do think the latter) but I think that eventually will happen.

Offline Empirical1.2

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Re: Greece could be huge for Bitcoin
« Reply #9 on: February 07, 2015, 11:43:31 PM »
I used to think that bitcoin skyrocketed with the Cyprus situation as Empirical says. I now know that this was not the case and I fully agree with Chryspano.. If we assume that something really bad happens to Greece and bitcoin skyrockets this will not be because Greeks are going to buy any bitcoins. It will be a pure price manipulation and a pump so bitcoin can be in the spotlight as it was with the Cyprus situation...

However if BTS was more mature by now, if all the Greek bitcoiners could learn about BTS and bitassets then I am pretty sure that a lot of Greeks would be buying like crazy any bitasset to protect themselves, then the word of mouth would spread very fast here. Greece is a very small country with some very very wealthy scared people about the current situation. BTS would skyrocket and this would be a real pump and would have nothing to do with any price manipulation...

So all in all I hope Rune and Riverhead do their best to provide some liquidity and I really hope things to start get really fast now because there is no much time left...Grexit will be either the next 10 days or the next 6 months (i do think the latter) but I think that eventually will happen.

Well I sure hope those manipulators who found value in manipulating BTC's price up by a billion dollars when it was virtually unknown come along and pump BitShares by that amount...

Then again there was Willy Bot but that came later.



« Last Edit: February 07, 2015, 11:47:59 PM by Empirical1.2 »
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