European Central Bank cuts interest rates to 0% from 0.05%

[Lethn]

http://www.bbc.co.uk/news/business-35774629


Holy fucknuts! Is this the beginning of the end? Are we going to see negative interest rates next? Looks like a crash is getting ready to happen.

[Amph]

well i'm not dealing with bank anymore, so this can only be good for a possible saving in bitcoin, for other people that are reluctant to do so for now

[countryfree]

Well, that's good for BTC. This shows the world that fiat money is crumbling. More quantitative easing may eventually help some part of the economy but it will assuredly depreciate the currency even more.

[cooldgamer]

At this point keeping your money in a bank isn't for making interest on it, it's to keep it safe along with not making it look fishy that you have a ton of cash.  Even if negative interest rates become the norm, I don't see people minding enough to consider doing something like just keeping their cash in a safe (especially things like retirement money).

[tabnloz]

What the ECB does by buying corporate banking bonds is it allows continuous support for share capital issuance.

[SFR10]

Surely where in for another negative rating (upcoming) as well as all the recent banks that have gone with it. Honestly, I was enjoying a 20% growth (high inflation here) until few months ago in which they cut it to 15% for small investments and from the looks of it (a deflation rate is rising here lately), it will go even further down so the outcome for most banks, is surely a negative rate in the near future.

[bitbunnny]

well i'm not dealing with bank anymore, so this can only be good for a possible saving in bitcoin, for other people that are reluctant to do so for now

Lucky you! I'd like to get free from bank but as long as I have mortgage and the loan that is impossible. But I agree that this situation with interests longterm might be good for Bitcoin.

[klf]

well i'm not dealing with bank anymore, so this can only be good for a possible saving in bitcoin, for other people that are reluctant to do so for now

Lucky you! I'd like to get free from bank but as long as I have mortgage and the loan that is impossible. But I agree that this situation with interests longterm might be good for Bitcoin.

But I don't think bitcoin has matured so much that we can totally depends on it. Because if we keep our money in banks, it may not grow due to zero % interest rate. But at least banks will provide a security to our money and we can easily withdraw money when we need it. Bitcoin prices are very volatile so as per me, I only put some portion of my funds as an investment in bitcoins but will not covert all my savings as a bitcoins.

[eternalgloom]

Once we go into negative interest rates we'll see people looking for different means to store their money, I think it's quite possible that Bitcoin could see new interest.

[coinzat]

Once we go into negative interest rates we'll see people looking for different means to store their money, I think it's quite possible that Bitcoin could see new interest.

I do not think that people how put their money in banks would see bitcoin as an alternative because even if the negative interests begin to be real, the volatile market of btc will be a barrier that prevent them from using it 

[HeroCat]

This is for banks, so they can get money without interest rates. For banks this is good news. 

[Pab]

http://www.bbc.co.uk/news/business-35774629


Holy fucknuts! Is this the beginning of the end? Are we going to see negative interest rates next? Looks like a crash is getting ready to happen.

Draghi told wll be no negatives rates but it depends on enviroment so it is possible QE has increased to 80 bln per month That zero is very symbolic all that EBC economy is worth 0

[techgeek]

What the flying fuck. lol.

So basically super fuken cheap loans to people who have connections and network.

And a person can basically buy a $1.5 million company with 0% interest.. nice. Sounds like 2008, very nice.

[BellaBitBit]

Once we go into negative interest rates we'll see people looking for different means to store their money, I think it's quite possible that Bitcoin could see new interest.

You would think this would make people look elsewhere but it will take awhile until they realize they need to.  Right now my bitcoin wallet is better for gains than any USD bank based on interest rates.  This is not the only area of the world touching negative interest rates.

[alyssa85]

At this point keeping your money in a bank isn't for making interest on it, it's to keep it safe along with not making it look fishy that you have a ton of cash.  Even if negative interest rates become the norm, I don't see people minding enough to consider doing something like just keeping their cash in a safe (especially things like retirement money).

This. During the Greek crisis, some people pulled money out of the bank and kept it at home, and burglaries exploded. Most home insurance policies don't cover large amounts of cash at home. Most don't cover BTC either, so make sure your wallet is backed up and keep a copy in a safe.

[ASHLIUSZ]

this happens all because of stock market sliding...

[Kakmakr]

At this rate, I will rather loan money from a friend or a relative and setup a smart contract to manage this, than working through a bank. The 0% interest rates is the last effort from the traditional banking sector to feed the dying cow <consumer or clients> We need to acknowledge the warning signs and act accordingly and hedge against this with investments into commodities like, Bitcoin / Gold / Silver with a better store of value and try to reduce the loss that are coming. Ding, Ding, ding, last round. ^hmmmmmmm^