Bitcoin Forum

Economy => Economics => Topic started by: nextgencoin on February 25, 2015, 07:13:42 PM



Title: Bitcoin approaching its historic highs!
Post by: nextgencoin on February 25, 2015, 07:13:42 PM
That is IF you are unfortunate enough to be Ukrainian.

http://www.xe.com/currencycharts/?from=XBT&to=UAH&view=5Y



Let this be a lesson to all those people who think Bitcoin won't protect you in a currency collapse. Bulshit, it will.


Title: Re: Bitcoin approaching its historic highs!
Post by: neurotypical on February 25, 2015, 07:16:16 PM
That is IF you are unfortunate enough to be Ukrainian.

http://www.xe.com/currencycharts/?from=XBT&to=UAH&view=5Y



Let this be a lesson to all those people who think Bitcoin won't protect you in a currency collapse. Bulshit, it will.

If you are Greek and you aren't 50% BTC 50% metals you are clinically insane.


Title: Re: Bitcoin approaching its historic highs!
Post by: allthingsluxury on February 25, 2015, 07:31:26 PM
That is IF you are unfortunate enough to be Ukrainian.

http://www.xe.com/currencycharts/?from=XBT&to=UAH&view=5Y



Let this be a lesson to all those people who think Bitcoin won't protect you in a currency collapse. Bulshit, it will.

If you are Greek and you aren't 50% BTC 50% metals you are clinically insane.

This certainly would of protected a lot of their peoples wealth. There are a lot of countries that could quickly find themselves in similar situations. Sadly most people don't have the foresight to plan ahead.


Title: Re: Bitcoin approaching its historic highs!
Post by: spazzdla on February 25, 2015, 08:41:03 PM
That is IF you are unfortunate enough to be Ukrainian.

http://www.xe.com/currencycharts/?from=XBT&to=UAH&view=5Y



Let this be a lesson to all those people who think Bitcoin won't protect you in a currency collapse. Bulshit, it will.

If you are Greek and you aren't 50% BTC 50% metals you are clinically insane.

This certainly would of protected a lot of their peoples wealth. There are a lot of countries that could quickly find themselves in similar situations. Sadly most people don't have the foresight to plan ahead.

Alas they do not.  Most people are to busying looking up how to twirk like Miley or who the bulls get in the draft pick.. You know.. things that have zero effects on their lives...


Title: Re: Bitcoin approaching its historic highs!
Post by: slaveforanunnak1 on February 25, 2015, 09:03:08 PM
I was hoping Greece could pull it off and not fold like my wallet.


Title: Re: Bitcoin approaching its historic highs!
Post by: sherbyspark on February 25, 2015, 09:20:58 PM
Thats just like Bitcoin is USD, and all the altcoins are currencies of other countries. Now if an altcoin crashes, it doesn't affect the countries currencies. But if value of bitcoin will always be in dollars and then to the currency. So in a way if dollar crashes, then you will see a crash there too.


Title: Re: Bitcoin approaching its historic highs!
Post by: kingcolex on February 25, 2015, 09:31:49 PM
That is IF you are unfortunate enough to be Ukrainian.

http://www.xe.com/currencycharts/?from=XBT&to=UAH&view=5Y



Let this be a lesson to all those people who think Bitcoin won't protect you in a currency collapse. Bulshit, it will.

If you are Greek and you aren't 50% BTC 50% metals you are clinically insane.

This certainly would of protected a lot of their peoples wealth. There are a lot of countries that could quickly find themselves in similar situations. Sadly most people don't have the foresight to plan ahead.
Yeah I would pull my wealth out asap, Precious metals and crypto seem the best hold option for them right now.


Title: Re: Bitcoin approaching its historic highs!
Post by: nextgencoin on February 25, 2015, 09:35:14 PM
Thats just like Bitcoin is USD, and all the altcoins are currencies of other countries. Now if an altcoin crashes, it doesn't affect the countries currencies. But if value of bitcoin will always be in dollars and then to the currency. So in a way if dollar crashes, then you will see a crash there too.


Not clear what your saying. The dollar is like any other currency, if it crashes then the price of Bitcoin measured in Dollars will shoot up. Yes many of us measure the value of Bitcoin against the dollar but it doesn't mean Bitcoin will move with the dollar. The ideal way to measure Bitcoin long term, as in over decades and years is probably against Gold and Silver actually.


Title: Re: Bitcoin approaching its historic highs!
Post by: PenguinFire on February 25, 2015, 10:05:33 PM
Did you expect anything else from this currency?  Why would anyone living in Greece use their currency more than they have to on a day to day basis?  They are insane to do so.


Title: Re: Bitcoin approaching its historic highs!
Post by: Meuh6879 on February 25, 2015, 10:30:10 PM
If you are Greek and you aren't 50% BTC 50% metals you are clinically insane.

they are insane.
they create a bank-run ... in euro-cash paper money.

they have learn nothing.


Title: Re: Bitcoin approaching its historic highs!
Post by: Razick on February 25, 2015, 10:37:18 PM
The Ukrainian exchange rate is equivalent to the USD rate. Bitcoin hasn't gone up... their currency has gone down.

Of course, they are still better off holding Bitcoin, BUT they still would be losing money.


Title: Re: Bitcoin approaching its historic highs!
Post by: LRENZ on February 26, 2015, 01:54:19 AM
Soon there will be Bitcoin wallets with BitShares market pegged assets like bitUSD, bitGOLD etc built in allowing people to hedge instantly and shapeshift.io like integration allowing them to spend those bitassets anywhere bitcoin is accepted, the potential for this is huge as we all know everyone loves to complain about bitcoins volatility.