Why next pump might be completely different

[Ibian]

As of jan 1st 2016 it became legal for the banks to raid private accounts in euro countries. Forget china, the entire western world is about to collapse.

Any links for this? I recall them working on it but have not seen anything since then.

Didn't happen, will not happen. Much more complicated than this. Government can take money from your account to repay bank debts, but only accounts with more than 100k€

So not a lot of people!

The rules are what they are until they change, which they will as soon as it becomes convenient. Link incoming.

[Ibian]

As of jan 1st 2016 it became legal for the banks to raid private accounts in euro countries. Forget china, the entire western world is about to collapse.

Any links for this? I recall them working on it but have not seen anything since then.

http://theeconomiccollapseblog.com/archives/january-1-2016-the-new-bank-bail-in-system-goes-into-effect-in-europe

[Amph]

China is where 99% of the mining goes on. So if china goes down bitcoin may well collapse. 

I dont think they have 99% mining power, can you provide a link where it is stated ?  

no in fact they own 60% only, maybe this % is bigger now, but is nowhere near 80% let alone 99%

[WhatTheGox]

So far the largest financial crisis to impact Bitcoin has been Cyprus. What a tiny tiny tiny tiny little country.

What happens when China plummets...........

Yeah i think if china goes the world is going to change at least for a while.  I run my current business mostly around buying crap from china like a gazillion other people.  I'd like to see what happens.

[gentlemand]

It's decades away from being any type of safe haven, if ever. It'll be the first thing to go in anyone's portfolio if times become hard. If your choice is being homeless or hanging on to one's bet for a future which may never arrive then I'd go for a roof over my head.

[Elwar]

As of jan 1st 2016 it became legal for the banks to raid private accounts in euro countries. Forget china, the entire western world is about to collapse.

Any links for this? I recall them working on it but have not seen anything since then.

http://theeconomiccollapseblog.com/archives/january-1-2016-the-new-bank-bail-in-system-goes-into-effect-in-europe

Interesting. Pretty shitty law.

I did see something about a year ago where they want to change the wording of bank deposits to investments. That way the money you deposit is no longer your money, you have given it to the bank to invest as they wish. If they lose money while investing your money, they will not be held accountable legally.

[Ibian]

As of jan 1st 2016 it became legal for the banks to raid private accounts in euro countries. Forget china, the entire western world is about to collapse.

Any links for this? I recall them working on it but have not seen anything since then.

http://theeconomiccollapseblog.com/archives/january-1-2016-the-new-bank-bail-in-system-goes-into-effect-in-europe

Interesting. Pretty shitty law.

I did see something about a year ago where they want to change the wording of bank deposits to investments. That way the money you deposit is no longer your money, you have given it to the bank to invest as they wish. If they lose money while investing your money, they will not be held accountable legally.

An investment with a 0% return is a pretty shitty investment.

[UnDerDoG81]

As of jan 1st 2016 it became legal for the banks to raid private accounts in euro countries. Forget china, the entire western world is about to collapse.

Any links for this? I recall them working on it but have not seen anything since then.

http://theeconomiccollapseblog.com/archives/january-1-2016-the-new-bank-bail-in-system-goes-into-effect-in-europe

Well, people said that Cyprus was a test for Europe. They tested how people react when the government takes their money. People who said this got called conspirancy theorists. As so often. And as so often, those conspirancy theorists were right.

[Ibian]

As of jan 1st 2016 it became legal for the banks to raid private accounts in euro countries. Forget china, the entire western world is about to collapse.

Any links for this? I recall them working on it but have not seen anything since then.

http://theeconomiccollapseblog.com/archives/january-1-2016-the-new-bank-bail-in-system-goes-into-effect-in-europe

Well, people said that Cyprus was a test for Europe. They tested how people react when the government takes their money. People who said this got called conspirancy theorists. As so often. And as so often, those conspirancy theorists were right.

In fact I used those exact words at the time. They wanted to see what they could get away with, and now they know, and so they will do it.

[DieJohnny]

It's decades away from being any type of safe haven, if ever. It'll be the first thing to go in anyone's portfolio if times become hard. If your choice is being homeless or hanging on to one's bet for a future which may never arrive then I'd go for a roof over my head.

current movement with china tanking says otherwise. For the poor bitcoin is out of reach, but for the rich, you are going to watch while your fortunes disappear?

[gentlemand]

current movement with china tanking says otherwise. For the poor bitcoin is out of reach, but for the rich, you are going to watch while your fortunes disappear?

The rich have land, property and other assets. Bitcoin is microscopic and painfully illiquid. It has the future potential to be something special but I think it's naive to think of it as a genuine contender in its present condition.

[abs350]

Well, people said that Cyprus was a test for Europe. They tested how people react when the government takes their money. People who said this got called conspirancy theorists. As so often. And as so often, those conspirancy theorists were right.

yes yes.... its all a conspiracy.......

[DieJohnny]

current movement with china tanking says otherwise. For the poor bitcoin is out of reach, but for the rich, you are going to watch while your fortunes disappear?

The rich have land, property and other assets. Bitcoin is microscopic and painfully illiquid. It has the future potential to be something special but I think it's naive to think of it as a genuine contender in its present condition.

Answer this question. Every week Bitcoin becomes more and more liquid... true or false.....

Bitcoin liquidity even compared to 2013 is insanely better today.

What is more important is that bitcoin has everything that allows it to become the MOST liquid of ANY asset period. Why ignore the obvious simply because today you can't unload 25 million in bitcoin at market....?

[johnyj]

The next bubble burst will be china, once china's economy has done its course, trillions of dollar will try to leave china through bitcoin due to capital control

[jehst]

[Denker]

As of jan 1st 2016 it became legal for the banks to raid private accounts in euro countries. Forget china, the entire western world is about to collapse.

Well then it would be wise not to deposit all your money at your bank right?! Buy gold and store it at home.Buy Bitcoin and put it in cold storage.
"And then what?",one might ask.
Answer: Just wait!! 

[n691309]

I don't think that Cyprus is the reason why bitcoin price has been increased today, people are getting back from vacation and started investing a little bit in bitcoin.

[Guido]

So far the largest financial crisis to impact Bitcoin has been Cyprus. What a tiny tiny tiny tiny little country.

What happens when China plummets...........

http://www.bbc.co.uk/news/business-35248798

Should we be worried?
China is responsible for 17% of all the world's economic activity, so any downturn in spending there affects the rest of the world.

[gentlemand]

Answer this question. Every week Bitcoin becomes more and more liquid... true or false.....

Bitcoin liquidity even compared to 2013 is insanely better today.

What is more important is that bitcoin has everything that allows it to become the MOST liquid of ANY asset period. Why ignore the obvious simply because today you can't unload 25 million in bitcoin at market....?

True indeed. That still doesn't make it ready or desirable as a safe haven in any upcoming giant financial crisis for more than a handful of people. It may well be in the years to come but there's a lot of stuff that needs ironing out and vastly more volume is required for it to be a practical choice for large numbers.

[DieJohnny]

Answer this question. Every week Bitcoin becomes more and more liquid... true or false.....

Bitcoin liquidity even compared to 2013 is insanely better today.

What is more important is that bitcoin has everything that allows it to become the MOST liquid of ANY asset period. Why ignore the obvious simply because today you can't unload 25 million in bitcoin at market....?

True indeed. That still doesn't make it ready or desirable as a safe haven in any upcoming giant financial crisis for more than a handful of people. It may well be in the years to come but there's a lot of stuff that needs ironing out and vastly more volume is required for it to be a practical choice for large numbers.

Well for a very large class of human Bitcoin is liquid enough right now. The market decides what is a safe haven, you do not, when economy goes down and your asset goes up in value it is a haven for those with buying power.

Bitcoin right now simply proves you wrong. Bitcoin is up while the world market is down...... just a fact