Chinese bank crises grows - good for bitcoin

[TKeenan]

The banking crises is getting pretty serious now.  This could be the last straw.
http://edition.cnn.com/2016/06/21/asia/china-bank-spanking/index.html

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[Kakmakr]

It's not just the Chinese, is all over the world. The whole Brexit thing is also placing some tension on the Europe banking system and the US banks are dishing out money like no tomorrow to stimulate artificial growth. The whole fiat system is under pressure at the moment, which might be good for Bitcoin. ^smile^ 

[Pursuer]

hmm, interesting. but these crises have been a big issues in many countries all over the world for some time now. so it is not a new thing happening now.

but also since Chinese have been always super active in crypto currencies markets and also I have heard some other troubles in their Stock market I think this can eventually lead to much bigger effects in bitcoin price very soon.

[shinratensei_]

The banking crises is getting pretty serious now.  This could be the last straw.
http://edition.cnn.com/2016/06/21/asia/china-bank-spanking/index.html

IN my country the same problem. A lot of people in china is starting to interested with bitcoin. and this can make all of the money rotate just on bitcoin. Let's see what happen with china bank for next time.

[mki8]

The banking crises is getting pretty serious now.  This could be the last straw.
http://edition.cnn.com/2016/06/21/asia/china-bank-spanking/index.html

LOL so bad they must spank the employees with a wooden stick.

[Schuyler]

What would then happen when the Chinese economy stabilizes? Will those who placed their money on bitcoin pull out their investments to buy back yuan and/or place their money back in their stock market? I hope that bitcoin price would not be affected by just one country.

[Unikol]

It's not just the Chinese, is all over the world. The whole Brexit thing is also placing some tension on the Europe banking system and the US banks are dishing out money like no tomorrow to stimulate artificial growth. The whole fiat system is under pressure at the moment, which might be good for Bitcoin. ^smile^ 

That is right. There are too much money floating around, that will increase the asset price and create bubbles, the bubbles will burst someday.

[groll]

The banking crises is getting pretty serious now.  This could be the last straw.
http://edition.cnn.com/2016/06/21/asia/china-bank-spanking/index.html

Bank crisis doesnt always mean that it is good for bitcoin industry. At this point of time banking transactions is a big help in purchasing bitcoins. People send their dollars to the owners bank account in exchange for bitcoin. With the society dependent on banking system, banking crisis will lead bitcoin into bankcruptcy. Banking system is needed right now for bitcoin economy to grow. Bank crisis will only be beneficial to bitcoin industry if bitcoin is in full bloom and there is a declaration to use bitcoin as a universal currency.

[davis196]

It's not just the Chinese, is all over the world. The whole Brexit thing is also placing some tension on the Europe banking system and the US banks are dishing out money like no tomorrow to stimulate artificial growth. The whole fiat system is under pressure at the moment, which might be good for Bitcoin. ^smile^ 

I agree.The worlds financial system is so artificial and speculative.

Sooner or later it will be ruined and people will start seeking alternatives.

Bitcoin looks like a good alternative.

[TKeenan]

The banking crises is getting pretty serious now.  This could be the last straw.
http://edition.cnn.com/2016/06/21/asia/china-bank-spanking/index.html

LOL so bad they must spank the employees with a wooden stick.

Only one guy bothered to look at the video.  It was a fucking joke guys. 

See the bank spanking their employees.  That is fucking hilarious.  Who spanks their employees these days?  'Fucking chinese' like that post here the other day.  wtf? 

Looks like all the responses here missed the spanking. 

[DimensionZ]

What would then happen when the Chinese economy stabilizes? Will those who placed their money on bitcoin pull out their investments to buy back yuan and/or place their money back in their stock market? I hope that bitcoin price would not be affected by just one country.

The Chinese will most probably put their money on the most profitable asset on the global market and right now that is obviously Bitcoin but if unfortunately Bitcoin slows down or isn't any profitable any more it's very likely the same Chinese investors will pull out their investments from the Bitcoin market and will look for the next big thing. This is how the free market works and we should expect big fluctuations in the price of Bitcoin if something like that happens.

[MoneyShot2]

lucky that bitcoin is such a good option for Chinese but the big fluctuations is bad for the reputation of Bitcoins, making it harder for the skeptic to begin using Bitcoins.