Stocks fall globally as Greek talks collapse

[dataispower]

"Stock markets around the world fell on Monday, suffering their first bout of significant contagion from the Greek crisis after 11th hour talks between the near bankrupt country and its creditors collapsed.

The losses were broad across risk assets. Major stock indexes fell sharply, as did crude oil prices, while the euro weakened against the dollar. Gold and silver rose on the day."

http://www.reuters.com/article/2015/06/15/us-markets-global-idUSKBN0OU15F20150615

China’s Stock Market Value Tops $10 Trillion for First Time

"No other stock market has grown as much in dollar terms over a 12-month period, as Chinese individuals piled into the nation’s equities using borrowed funds to bet gains will continue. Valuations are now the highest in five years and margin debt has climbed to a record, all while the economy is mired in its weakest expansion since 1990."

http://www.bloomberg.com/news/articles/2015-06-14/china-s-stock-market-value-exceeds-10-trillion-for-first-time

Will this affect cyptocurrency cryptocurrency?

[ElectricMucus]

Will this affect cyptocurrency?

No

[Fakhoury]

Will this affect cyptocurrency?

No

Why ?

[dataispower]

Will this affect cyptocurrency?

No

Why ?

 

[ElectricMucus]

Because cryptocurrency isn't relevant enough for global finance.

Oh and before somebody brings up Cyprus: Remember Neo & Bee?

[gentlemand]

I don't think there'll be much or any effect. If there is then it'll probably be negative. If your stocks fly down the toilet I can't imagine you'd feel much more cheerful about your crypto. It'll be a long time, if ever, before it attracts a 'safe haven' status.

[elux]

Because cryptocurrency isn't relevant enough for global finance.

Oh and before somebody brings up Cyprus: Remember Neo & Bee?

"Oh and before somebody brings up Germany: Remember the War?" (DON'T MENTION THE WAR!)


Mucus, you've been trolling this here forum since 2011. Did you manage to pick some up along the way?

[ElectricMucus]

I haven't got as much time on my hands any more, not a bad thing.

[gotmilk_]

Because cryptocurrency isn't relevant enough for global finance.

Oh and before somebody brings up Cyprus: Remember Neo & Bee?

Since investing in btc is easier than ever it is completely realistic to expect some of those profits can find its way into btc system  

[Torque]

Because cryptocurrency isn't relevant enough for global finance.

Right now it doesn't need to be relevant to the whole globe, just a few million more people who have had enough of their savings seized or their fiat purchasing power diluted.

Also, I feel sorry for the Chinese retail investors. They don't realize it yet, but they are the unwitting participants in their government's attempt at a 'bail in' using their domestic stock market as the vehicle.  They will all soon be holding very heavy bags of way overvalued Chinese stock, that will begin a multi-year descent, and probably won't see a rise again for 7+ years or possibly a decade or more.

[ElectricMucus]

Because cryptocurrency isn't relevant enough for global finance.

Right now it doesn't need to be relevant to the whole globe, just a few million more people who have had enough of their savings seized or their fiat purchasing power diluted.

Also, I feel sorry for the Chinese retail investors. They don't realize it yet, but they are the unwitting participants in their government's attempt at a 'bail in' using their domestic stock market as the vehicle.  They will all soon be holding very heavy bags of way overvalued Chinese stock, that will begin a multi-year descent, and probably won't see a rise again for 7+ years or possibly a decade or more.

This reminds me of the war islamic state militants try to wage against the west. as they have been very successful occupying third world territories with AK47s supplied by rouge Saudi princes a single nimitz class air craft carrier can keep them at bay indefinitely.

[bassclef]

I don't think there'll be much or any effect. If there is then it'll probably be negative. If your stocks fly down the toilet I can't imagine you'd feel much more cheerful about your crypto. It'll be a long time, if ever, before it attracts a 'safe haven' status.

Traders who handle gold, silver and other commodities look for these turns in the markets to build positions in them, because they are inversely correlated to some degree. These guys trade anything for a profit, even crypto. And crypto is treated as a commodity.

[mrhelpful]

Falling stock prices, and anything global just gives suggestions to investors of possibe crypto investment.

But, thats if we had some traditional form passed and we have none in that area which been trying what 2-3 years now? lol.

[afbitcoins]

When chinese stock market bubble burst I think the chinese will again go crazy for bitcoin.

[MF Doom]

When chinese stock market bubble burst I think the chinese will again go crazy for bitcoin.

I dont think so, the user base is still not there for btc to be useful day-to-day and make people feel safe buying it to hold for a while.  Gold and silver seem like the likely winners...

[gentlemand]

When chinese stock market bubble burst I think the chinese will again go crazy for bitcoin.

I dont think so, the user base is still not there for btc to be useful day-to-day and make people feel safe buying it to hold for a while.  Gold and silver seem like the likely winners...

It has never nor is it ever likely to be 'useful' for Chinese people. I'm sure a fair few do use it to squeeze around capital controls where they can, but the government was awfully quick to squash any possibility of day to day utility.

[MF Doom]

When chinese stock market bubble burst I think the chinese will again go crazy for bitcoin.

I dont think so, the user base is still not there for btc to be useful day-to-day and make people feel safe buying it to hold for a while.  Gold and silver seem like the likely winners...

It has never nor is it ever likely to be 'useful' for Chinese people. I'm sure a fair few do use it to squeeze around capital controls where they can, but the government was awfully quick to squash any possibility of day to day utility.

I think the more concerning thing here is that governments everywhere are become more restrictive, more oppressive and less open to giving people freewill to live how they want to.  But thats a subject for another thread...

[afbitcoins]

When chinese stock market bubble burst I think the chinese will again go crazy for bitcoin.

I dont think so, the user base is still not there for btc to be useful day-to-day and make people feel safe buying it to hold for a while.  Gold and silver seem like the likely winners...

It has never nor is it ever likely to be 'useful' for Chinese people. I'm sure a fair few do use it to squeeze around capital controls where they can, but the government was awfully quick to squash any possibility of day to day utility.

(Not that I'm an expert but ..) For the chinese mentality I don't think its about usefullness of the tech but simply best place to gamble on huge gains.

[spiderbrain]

As far as the Greek situation goes, anything that involves capital controls is good for bitcoin, because bitcoin makes capital controls a thing of the past.

[phoenix1]

When chinese stock market bubble burst I think the chinese will again go crazy for bitcoin.

When the Chinese stock market bubble bursts, I imagine it will take a large proportion of any funds that could have been put into BTC with it 
Some will survive, sure, but others will be totally wiped out