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Title: Could a new wave of "bail ins" be the next driver of Bitcoin adoption ? Post by: empowering on December 19, 2013, 02:28:34 PM Following recent news such as this :
http://www.irishtimes.com/business/sectors/financial-services/eu-agrees-bail-in-rules-for-deposits-1.1626033 (http://www.irishtimes.com/business/sectors/financial-services/eu-agrees-bail-in-rules-for-deposits-1.1626033) and http://www.theguardian.com/business/blog/2013/dec/18/co-op-bank-bondholders-bail-in-protect-taxpayers (http://www.theguardian.com/business/blog/2013/dec/18/co-op-bank-bondholders-bail-in-protect-taxpayers) and http://www.valuewalk.com/2013/12/euro-bail-in-guidelines/ (http://www.valuewalk.com/2013/12/euro-bail-in-guidelines/) and http://www.reuters.com/article/2013/12/12/creditors-banks-bail-in-idUSL6N0JR2TJ20131212 (http://www.reuters.com/article/2013/12/12/creditors-banks-bail-in-idUSL6N0JR2TJ20131212) All confirming new bail in laws in Eurozone, along with various other countries around the world that in past six months have changed laws to allow bail ins ... It seems that the PIGS nations in Eurozone are all expecting trouble... Greece is on shaky ground, and there are serious worries for Spain Portugal etc... I am curious to see what happens in a scenario where another bail in is allowed even just a bondholder bail in... I am also curious to see how Bitcoin will behave in the event of a major stock crash, if it would suffer from capital flight as people cash out to cover positions elsewhere, or decide cash is king, or if it could be perceived as a "safe haven" (I doubt this atm as there is too much volatility for people to use it to park cash in a safe haven scenario in a financial storm, so I imagine the Swiss franc and the yen will get hit up, maybe gold, US treasuries <depending on the cause of the crash> ) I have a feeling Bitcoin could see some capital flight initially in the event of a 2008 style crash, but then recover quickly as the dust settles and people once again are left in dismay at the state of the fiat system. What do you guys think ? I am interested in peoples thoughts of how future bail ins may effect Bitcoin, and how you think Bitcoin price/sentiment would react during and after a 2008 style economic freeze/crash and stock market crash. |