Bitcoin Forum

Looks like Cyprus bank crisis was only the test...

http://www.eubusiness.com/news-eu/banking-parliament.s4c/

Dreams about bitcoin for $10k dollars not so impossible right now...

So if you are from EU and have more than 100k euro on your account. Better exchange your excess onto crypto currencies.

I am glad that they are only seizing the bank accounts. At least the real estate and the bullion assets are safe (aren't they?).

Yep it is "ONLY" for bank accounts...

So these banks are basically insolvent, aren't they. They're just spent the last 18-24 months humming loudly with their fingers in their ears outside the offices of the financial regulators, hoping the people inside will get the message that they have to do something before the whole charade is exposed publicly.

"but these measures aren't ratified until 2016!" Except that they can be brought into effect before then in an "emergency". Cyprus bail-in and Greek capital controls were both such unexpected emergencies that well-connected business people and politicians mysteriously moved huge amounts of money out of the country before the "emergency" "happened".

That was sarcastic.. lol... What I meant to say is that no assets are safe. Be it bank accounts, or be it bullion. Greedy bankers can take anything, as long as the government supports them.

Before the Cyprus haircut, did anyone even thought in their wildest dreams that all their bank balance will be given to the bankers?

If they could do it so quick on Cyprus they can do it also same fast in any EU country that has Euro.

I wouldn't hope for this. Remember bullion gold and gold coins confiscated after/during the Great Depression in the USA? And you won't be able to hide it because they know you have it...

This is way it can be kind of smart to move some of your national fiats into Bitcoin or another altcoins. Couse they can not check how many you have on your wallet addresses.
I am so glad I created new euro account on my Netteler and few days ago got my new Neteller euro mastercard :D

Quite possible.


The bankers might be greedy, but for sure they are no idiots. If they can't seize your bitcoins, then they will make the possession of the same a criminal offense (talking about an extreme scenario).

Extreme moves could couse extreme response from masses. It could couse massive protest that can go out of control. They will make such a move only if they would want to start it. And for what? Hard to say what is on minds of the richest people that rulles this planet.

Nevertheless, bitcoins are easier to hide&hold than gold, so we might actually have a chance to survive and save the wealth. If they would actually try to do something evil to bitcoin and its owners, we could expect many new cryptocurrencies to spring up with stronger anonymity and security features...

I would disagree partially. I have seen how easy it is for the government to manipulate the media. The government can turn the public opinion against Bitcoiners, by running media campaigns accusing Bitcoiners of tolerating CP, human trafficking.etc. They can camouflage their campaign against BTC by claiming that it is a campaign against these evils.

What's worrying me is that our population is quite low. Might be less than 100,000. 99% of the rest don't know what a BTC is.

If so, then government shouldn't care, neither the rest of population. It would likely cost them more than they could possibly get by...

Actually you may be right. Bitcoin is still very poorly known and can be easily associated with SilkRoad things. Media could use that. So if so called "THEY" would like to make a move, the best time for them is now.

So far.  In the US, Roosevelt made it illegal to own gold, didn't let people withdraw from safety deposit boxes.  With the authoritarian statists, no matter what they say now, eventually they'll want the fruits of your labor and will be happy to use their guns to take them. 

:-)

Mad world..  http://www.youtube.com/watch?v=4N3N1MlvVc4

Bitcoin $100,000 each not impossible

I think you guys are misunderstanding the article.  If a bank defaults this new law will hold the large owners and shareholders in the bank responsible, not private citizens with large wealth.

It includes them, plus large depositors, like in Cyprus:


So, the lesson here is to make sure you are under $100k Euros.  But like in Cyprus the threat was there for small depositors too until there were huge protests.

Hoping for a cyprus like bailout for the price to rise is just wrong. Don't forget that the bubble that happened during the cyprus crisis was just that.
A bubble. Only speculators will gain if something like this happens again.

I think any one having more than 20K Euros in their ban accounts were affected in Cyprus. Those with 100K+ lost everything above that mark.

who would have thought that europe's collapse could possibly be BTC's next boon. while i would stand to gain a lot if this were to happen, it's kind of messed up how innocent people will actually get fucked over by this new legislation.

There were a lot of expectations after the Cyprus crisis. But nothing materialized. So I'd be rather skeptical.

Cyprus was a first practical test. Now such a news is another, our forbearance test. If they decide we passed they will introduce it. It will mean that they trate us as a flock of sheeps.