2 years ago Cyprus, now Greece? new bubble on the way?

Will Greece's failure bring to a new rise of bitcoin price in next months? Maybe a bubble? How much? Tell your opinions.

Somewhere I heard that, cyprus was a wealth heaven, during the crisis the wealth was exported using bitcoin. I don't know if would be the same scenario with greece.

Quote from: I am the guy on July 11, 2015, 12:34:03 AM

Somewhere I heard that, cyprus was a wealth heaven, during the crisis the wealth was exported using bitcoin. I don't know if would be the same scenario with greece.

That is true. A lot of Russians had deposits in Cyprus and when capital controls / deposit cuts were imminent, converting fiat into Bitcoin was a workaround. In Greece, deposits belong to common citizens and the government won't be comfortable imposing haircuts.

Quote from: angrynerd88 on July 11, 2015, 12:24:16 AM

Will Greece's failure bring to a new rise of bitcoin price in next months? Maybe a bubble?

Greece is the first of many, a tremor before the quake.

Quote from: angrynerd88 on July 11, 2015, 12:24:16 AM

How much? Tell your opinions.

1 BTC = $600+ by end of September. 1 BTC = $3,000+ by next fall. 1 BTC = $60,000+ by 2020. 1 BTC = Infinite fiat by 2040 (fiat = void / no value as currency except to collectors)

Bitcoin does not compete with fiat currencies.

It replaces them. It consumes their wealth with the cruel indifference of mathematics.

let us see what will happen with the greek banks in the next weeks - bail ins?

Quote from: Beliathon on July 11, 2015, 02:25:25 AM

Quote from: angrynerd88 on July 11, 2015, 12:24:16 AM

Will Greece's failure bring to a new rise of bitcoin price in next months? Maybe a bubble?

Greece is the first of many, a tremor before the quake.

Quote from: angrynerd88 on July 11, 2015, 12:24:16 AM

How much? Tell your opinions.

How can you be sure with the prices of bitcoins?
I agree that bitcoin will rise at $600, but 60k? seems unbelievable
but, we'll see Cheesy

there are many unpredictable events thats gonna happen, especially with economical crisis like this
cheers Wink

Quote from: angrynerd88 on July 11, 2015, 12:24:16 AM

Will Greece's failure bring to a new rise of bitcoin price in next months? Maybe a bubble? How much? Tell your opinions.

Are you guys preparing the worst scenario? So the bitcoin demand is rising now. No one can predict that scenario precisely. I think the submitted proposals will be passed by the creditors. Greece will get bailout fund.

The problems in Greece {liquidity of the banks and the withdrawal limits} will be a short term problem.

My prediction is a 3rd Bailout and then the people will just go on as normal, just paying higher taxes to pay back these huge Bailouts.

The problem with Greece is the small amount of people actually paying the taxes that are due to the government, and to compound this problem, more than 25% of people are now unemployed. {So a smaller % of people are carrying the increased tax burden now}

After the 3rd Bailout failed, Greece will default again, and we will see the final economic collapse. Before this happens, loads of people would have withdrawn their savings from the banks and part of that money would find their way to Bitcoin. {So my prediction... Bitcoin will grow, until the end of this year...upwards to $600/BTC}

Quote from: angrynerd88 on July 11, 2015, 12:24:16 AM

Will Greece's failure bring to a new rise of bitcoin price in next months? Maybe a bubble? How much? Tell your opinions.

I do not agree with you that due to the Greece crisis, Bitcoin would raise in a next or few months, if crisis boost the value of Bitcoin, then what about WHOOPING $1200 +/- value of per Bitcoin during the year 2013, there is no such a crisis issues.

EU dont want to loose Greek and Greeks want to stay in EU. Greeks will obey the demands of the creditors and the creditors will extend the deal.

If Greeks want to make the economy strong they must invest their money in export business to generate income to the country. If they start to buy BTC then only the first buyers could get coins before the price skyrocket and noone else could aford it.

Quote from: aso118 on July 11, 2015, 12:50:57 AM

Quote from: I am the guy on July 11, 2015, 12:34:03 AM

Somewhere I heard that, cyprus was a wealth heaven, during the crisis the wealth was exported using bitcoin. I don't know if would be the same scenario with greece.

How do they convert the fiat into bitcoin, in exchanes? There was capital control then. I do not think they can take money out of Cyprus.

I think after the greece failure, the bitcoin price may rise by 200$ or 300$ next few months

I say before 2015 ends we will see BTC at $600.

By the end of summer or early autumn Bitcoin could very well reach $400 if not more!

Everybody knows the trouble in Greece is not over. Problems with Puerto Rico and China as well.

The World governments need growth,growth,growth and the only way to get that is messing with the currency.

Quote from: rubberbandloser on July 11, 2015, 10:44:32 AM

Psssssssssssssst! Dont say this. It is a secret Wink

Don't forget China, for some while they were able to bypass the capital controls with Bitcoins, but it won't repeat anymore.

I think Cyprus was nothing compared to China

Quote from: jaberwock on July 11, 2015, 11:23:35 AM

Don't forget China, for some while they were able to bypass the capital controls with Bitcoins, but it won't repeat anymore.

I think Cyprus was nothing compared to China

Cyprus's GNP is less then ½ % o f China's GNP

I will look for the link.

http://countryeconomy.com/gdp/cyprus

2014-- 23,269$--- -2.3%

http://countryeconomy.com/gdp/china

2014 ----- 10,360,105 ------- +7.4%

23269/10360105 = 0.002246 that is .2246% which is lees then ½ of 1 percent. (yeah me as the < ½ % I mentioned was a guess Wink

)

So a major China meltdown would be impressive.

2014   10,360,105$   7.4%
2013   9,469,125$   7.8%
2012   8,386,678$   7.8%
2011   7,314,482$   9.3%
2010   5,949,648$   10.4%
2009   5,105,769$   9.2%
2008   4,547,716$   9.6%
2007   3,504,605$   14.2%
2006   2,793,159$   12.7%
2005   2,287,258$   11.3%
2004   1,944,674$   10.1%
2003   1,650,514$   10.0%
2002   1,455,560$   9.1%
2001   1,317,236$   8.3%
2000   1,192,854$   8.4%
1999   1,100,775$   7.6%

They have had 15 winning years look above.

Quote from: jaberwock on July 11, 2015, 11:23:35 AM

Don't forget China, for some while they were able to bypass the capital controls with Bitcoins, but it won't repeat anymore.

I think Cyprus was nothing compared to China

They will most likely figure out some ways to get around this again.. If they really want it, they can get it..

It's too soon to predict the outcome. Cyprus or even Greece issue may not be the main driver. After the third bailout momentarily everybody will just forget that things ever happened. I think people should start to take things seriously and look for alternatives to secure their money. If they can't trust banks why not consider bitcoin.