Bitcoin Forum

There is new populistic Government in Italy.
Itay is going to dump Euro and it will cause huge turmoil in Europe. New parallel currency will be in circulation and Euro accounts might be closed for owners. That will cause surge in Bitcoin prices like in the case of Cypres in 2013.

That I think will greatly help the rise in bitcoin prices, because the number of owners of the euro currency of the year will be Italian policy, and I think many will switch to save in the form of cryptocurrency like bitcoin.

This news could really blow up the Euro, does this mean Italy is in serious trouble?

Yes it is true that this will be a very good spike, and I really hope so and can raise the price of bitcoin at a very high point longer than last year.

It seems that the problem has been at least postponed, according to CNBC:
https://www.cnbc.com/2018/05/21/this-is-the-impact-the-italian-populist-government-could-have-on-the-euro.html (https://www.cnbc.com/2018/05/21/this-is-the-impact-the-italian-populist-government-could-have-on-the-euro.html)
Also, I'm not 100% sure that people will choose a currency with high volatility and risks if the EUR currency goes down, maybe only a little part of the people will start to buy bitcoin. Average people are not making such decisions easily under pressure and because of the end of the last year when a lot of newbie has burnt himself/herself with bitcoin, it won't make such a high impact on bitcoin price... but this is just my understanding...

It's very good news for crypto or bitcoin money, and I think with the closing EURO so many people are going to switch to invest in bitcoin.

The news you have provided here has not been proven to be true, please give us the link so we can confirm the news!

Looking at the current price of bitcoin, it is not encouraging at all. SO I am with the conviction that this will surely help boom  the price of bitcoin and other coins as well.

https://editi[Suspicious link removed]/2018/05/22/opinions/italy-next-government-europe-next-crisis-opinion-intl/index.html

Is this for real? If it is, then this would be the cause of a major rise of bitcoin. This would be really great for all of us. Can this be the cause of the rise of btc? Who knows? But I believe that this could be it.

is this news true? because if this is just a speculation to raise the price by making the issue I think is not very relevant. but if this can make bitcoin prices soaring and correct as it is I will be very happy and obviously bitcoin prices will surely surpass last year ;D ;D

It is certainly not a done deal, and may not be at all (see https://www.cnbc.com/2018/05/21/this-is-the-impact-the-italian-populist-government-could-have-on-the-euro.html (https://www.cnbc.com/2018/05/21/this-is-the-impact-the-italian-populist-government-could-have-on-the-euro.html)).

Preliminary Government Program drafs did reference abandoning the Euro, but those initial drafts normally tend to go to extremes when trying to negotiate a government between left and right wing).

Now this happens that there are simply no words, I hear little news in which there is benefit to people (

While I did not hear such news. However, if this happens, then there should be a certain growth in Italy of the bitcoin rate and generally crypto currency. Even partially, people will move their assets to the crypto currency. However, I still doubt that Italy will withdraw from the European Union. England has made such a decision, but there they already want to go back. Italy within the countries of the European Union in general will be very bad.

Italian President just refused to accept results of parlamentary elections.

Now EU must bail-out Italy at all costs. It is good news for the Italians - enjoy life and take and spend more debt for a while. EU is paying all.
Bad news for Europe. This will just accelerate Euro demise because some other countries will ask for the same treatment.
Money for that must come from somewhere. We can see more Euro exits or Greece scenarions with drastic drop in purchasing power in population.

Whatever happens Bitcoin will grow!

It's very good news for crypto or bitcoin money

I havent heard anything of this in the news articles and im not sure
if abandoning the euro money will result in an uptake in bitcoin.

In the cnbc link the report states:
An incoming populist government in Italy may no longer be looking
to ditch the euro currency

That will be a government backed decision and they will not accept
a crypto alternative.

I really hope so and can raise the bitcoin price very high compared to last year. bitcoin 25000 usd later this year

I think it's really good news for cryptocurrency . If   this happens, then there should be a certain growth in Italy of the bitcoin rate and generally crypto currency. Even partially, people will move their assets to the crypto currency. And  i think with the closing EURO so many people are going to switch to invest in bitcoin.

this is good for crypto industry, but i am not sure it is good for italy country. closing the euro will make the Italians look for other investment alternatives, maybe bitcoin and other types of crypto will be quite interesting for them. at least it will help the recovery of market prices that experienced many shocks this year. but I also hope, the move of people from the euro to crypto not only for a moment and a moment of profit-seeking, but also for the future of a better crypto

It is happening right now! Italian state bonds dropped in value at the same time Bitcoin surged back to 7500!

That would be great if it had to happen, and that would make the cryptocurrency value better for the future.

The idea of a dual currency system has been put forward by the three parties to take advantage of the eurozone's increasingly widespread sentiment across the country, as well as a tool to keep Rome afloat. Many argue against each other

That will be a government backed decision and they will not accept
a crypto alternative.

Parallel currency- eg. Italy are currencies isued by the state.as an official second currency alongside legal tender currency and can also be designated as legal tender. It can be stable,hard currency that is used alongside weak national currency. On the other hand a weak national currency can be used as a parallel currency in order to stimulate the national economy and to make export economy compititive again

It will help boost bitcoin and grow steadily for a long time to come

Well, so far BITCOIN is the easiest way out for these Italians, rather than buying an alternative currency. If this is true, then pump up the volume!

Its not easy as it seems (https://money.usnews.com/investing/news/articles/2018-06-27/italys-new-government-is-no-threat-to-euro-eurosceptic-senator-says)


So for now we can speculate that maybe as early as today, Italian will look for other alternatives just in case something worst happen although the government is assuring that they are not abandoning EURO. However, if I lived right there, I will put some of my money in crypto just like a hedge, just to be sure.

This is fascinating really, though I'm not entirely sure how it will effect crypto, we will have to wait for full details of the new currency. This may also have quite a crippling effect on the euro in general, one of the reason many northern european countries decided not to adopt it. Any links to this news item? Would be interested to learn more.

I'm not sure doing this would decrease your risk of loss. Bitcoin is far more volatile than the euro and if a country like Italy crashed out of the EU or instituted its own currency, Bitcoin would likely still be more volatile than the euro. If you wanted to temporarily protect your currency, you would probably want to exchange it to the US dollar because it would absolutely hold its value better than Bitcoin over a couple weeks or months if the euro was experiencing Italy-based fluctuations. Bitcoin could be ok, but when there's economic uncertainty, could be isn't good enough. You want actual safety.

Yes, they hardly refuse the currency at all and will be replaced by a crypto currency.

I don't think that's ever going to happen. Italy dances to the tune of Berlusconi. He, in turn, a friend of Putin. All of them are interested in the collapse of the EU. Therefore, create and pay for such fakes. The mafia wants to take Italy again. If idiots vote for populists, so be it. They'll be the first to die. It's natural selection. A parallel currency is pure politics and no Economics.

The European Union is the one that is in trouble they wanted to create an economic union and they thought they could force political integration and like always they made the mistake that they could force people to do whatever they wanted, now they are realizing that an economic union only comes from a political union similar to what happened to the US, so the Union and the Euro are going to fail because they are nothing but an experiment that was never going to work.