Bitcoin Forum

As the USD is going down against the EUR (http://www.xe.com/currencycharts/?from=USD&to=EUR&view=1Y) I feel myself (as a EU citizen) incentivised (is that even a word?) to buy more BTC with my USD sitting on my bitstamp account.

It's a dilemma:
*not buying BTC and waiting for price drop in BTC/USD to buy more BTC.
*if BTC/USD don't drop, I will loose a large percentage in EUR terms if USD/EUR keeps going down

How do you trade, EU-citizens?

As long as you don't cash out it doesn't matter. Withdraw your cash when USD/EUR is relatively high, and deposit fiat when USD/EUR is low like it is now. :)

more importantly the GBP went down 0.72% against USD so I ripped out BTC right before the rise out my GBP balance and flattened it to 0 so you could say I did the same

.12% increase today in eur isn't HUGE but yes it has gone up from 1.3 not that long ago.

The problem with the GBP / EUR markets is they know USD volume folks look for arbitrage opportunity and there is less volume on those markets - so the bid/ask spread is much larger as fewer folks with the bulk of liquidity can control most of the market and "lock you in"

so most of the time I can get in and out OK but there are plenty of times where you get more for your BTC buy selling into walls on GBP/EUR market but just the same you pay much more to get out when things get volatile.

The USD is indirectly pumped by the China Bubble, you need Dollar to get Yuan.

But it's nearly ready to pop.
They approved building a 0.9 kilometer tall skyscraper (http://singularityhub.com/2013/06/04/chinese-firm-gains-approval-hype-to-raise-worlds-tallest-building-in-only-90-days/) in 90 days build time. And the Skyscraper Index (http://en.wikipedia.org/wiki/Skyscraper_Index) never fails.
That said if you are concerned with fiat volatility you can trade BTC/CNY  just get out before SHTF...

The article you reference thinks otherwise.

I'd rather hold CNY than USD.

1 euro = between 1.33 and 1.34 usd.

Nov 30, 2009 – Today EUR/USD hit 1.3738 mark renewing its maximum since 1995.


EUR/USD is really high, it is likely to go down now.

I quoted: http://www.earnforex.com/blog/eurusd-renews-its-decade-maximum/
I don't know exactly what they refer to. EURO was created in 1992 (Maastricht) right? Maybe the price was floating then ... Why do you mention 2000?
Euro coins and banknotes entered circulation on 1 January 2002. ( http://en.wikipedia.org/wiki/Euro )

Even if EUR has been used since 2002, or introduced in 2000 (?), it does not change the fact that his current value is high, and likely to go down.

The way I see it, it's just a matter of time before the exchange rate gets back to 1.30.

Here my argument.
USD is dropping because quantitative easing (which was meant as a corrective measure to stop the downfall and pump the market) is not working anymore. QE is making things worse.

It is in the Feds' interest that central banks of the rest of the planet do as much QE as the Feds themselves do - otherwise USD will depreciate too much in comparison to other currencies and hence their Ponzi scam will become public knowledge.

http://www.nytimes.com/2013/05/22/business/global/in-europe-a-fed-president-urges-quantitative-easing.html?_r=0

ECB arguably has their own quantitative easing which is called LTRO. Last LTRO round also proved ineffective - nevertheless, in comparison to the Feds'one, ECB's QE is just spare change. Probably because Northern European politicians are a tad more serious and less influenced by financial lobbies than their American counterparts. Or maybe simply because they are so damn slow in taking any effective decisions.

BUT - a stronger EUR will cause European exports to stall. As a consequence ECB will be forced to devaluate the EUR through QE - this last measure of course at the expenses of European citizens' purchasing power. As a side effect your BTC's worth in EUR will increase. If that makes you happy...