z

[znort987]

z

[nexus6]

They have blocked all the Cypriot bank accounts..
http://www.reddit.com/r/europe/comments/1aeht8/eurozone_and_imf_agree_10bneuro_cyprus_bailout/c8wouo2

[Lethn]

Bitcoin users not affected

[Isokivi]

Definetley good news for bitcoin, but only in the long run. Atm's are out of money by now, online acces to funds is down and when people can acces their funds tuesday the tax has allready been taken.

[darkmule]

It is difficult to comprehend the short-sighted insanity of this decision.  Basically they are saying, stay the fuck away from our banks.  I'm not sure how you could devise a policy more likely to generate long-term instability.

[Wekkel]

It is difficult to comprehend the short-sighted insanity of this decision.  Basically they are saying, stay the fuck away from our banks.  I'm not sure how you could devise a policy more likely to generate long-term instability.

QFT. There is no end to current stupidity.

[n8rwJeTt8TrrLKPa55eU]

This news could start a chain reaction with several dominoes falling.

Imgagine how much a single Bitcoin would be worth and how much momentum Bitcoin would have gotten if it had been developed in 2006 and had been established by the time the financial crisis of 2008 rolled around.

Next week should be very interesting in financial and BTC markets.

[davout]

Bitcoin-Central.net is offering a Cyprus special.

[Brushan]

Great idea by Bitcoin-Central! We need to take advantage of news like these. Especially for those talking about how converting your savings into Bitcoin is a big risk.

[Piper67]

It is difficult to comprehend the short-sighted insanity of this decision.  Basically they are saying, stay the fuck away from our banks.  I'm not sure how you could devise a policy more likely to generate long-term instability.

And yet, people have short memories. These moves have happened before, and in less than a decade people are again putting money into the same banks.

But I agree, this is a win for Bitcoin in the long run.

[Beauxe]

Exhibit A about why every household should own a meaningful amount of bitcoins:

http://www.zerohedge.com/news/2013-03-16/europe-does-it-again-cyprus-depositor-haircut-bailout-turns-saver-panic-bank-runs-br

[01BTC10]

Bitcoin users not affected

[inge]

How do you say "Bitcoin" in Greek-Cypriot?...

[alexeft]

Mπιτ κόιν. It's the same.

[mccorvic]

They have blocked all the Cypriot bank accounts..
http://www.reddit.com/r/europe/comments/1aeht8/eurozone_and_imf_agree_10bneuro_cyprus_bailout/c8wouo2

I don't know how to Reddit, but moar peeps should be bittipping in there

[bracek]

It is difficult to comprehend the short-sighted insanity of this decision.  Basically they are saying, stay the fuck away from our banks.  I'm not sure how you could devise a policy more likely to generate long-term instability.

And yet, people have short memories. These moves have happened before, and in less than a decade people are again putting money into the same banks.

this kind of memories will get built into bitcoin price

[n8rwJeTt8TrrLKPa55eU]

The hits just keep on comin':

Jeroen Dijsselbloem, the president of the group of euro area ministers, declined Saturday to rule out taxes on depositors in countries beyond Cyprus, although he said such a measure was not currently being considered.[...]

The Central Bank of Cyprus, in a letter to Cypriot banks has ordered all banks to temporarily freeze money orders and funds transfers, reports Eυρωπαϊκή Kρίση Xρέoυς.

The letter dated March 16, 2013 is marked "confidential" and temporarily prohibits institutions subject to supervision by the Central Bank from issuing money orders or  any other transfer of funds using any payment system or clearing and settlement systems, within or outside the Republic, including transfers within the same institution.

http://www.economicpolicyjournal.com/2013/03/euro-minister-doesnt-rule-out-taxes-on.html

[arklan]

ya know that feeling when you're riding a roller coaster, climbing the first big hill or such? the anticipation as you climb? yea. this triggered the same notion...

[klee]

Mπιτ κόιν. It's the same.

Their English knowledge is perfect most of the times - used to be a British colony.

Aδέρφια Kύπριoι πόσoι είστε εδώ μέσα??

[Melbustus]

Cyprus gov hasn't voted the measure in yet, and they're considering changing the percentages a bit: http://www.zerohedge.com/news/2013-03-17/europe-scrambling-last-minute-revision-cyprus-deposit-confiscation-plan . They could theoretically even vote it down given how freakin' stupid it is (eg, even the bureaucrats may be realizing that it's likely to trigger an actual bank run).

But either way, the point is that the cat's out of the bag... The world now very publicly knows that outright theft is in governments' playbook, and that bank deposits are not safe.

#bitcoinUsersNotAffected

So average folks will start thinking about other places to put their money. Gold is kind of a pain, and you can't buy stuff with it online (or anywhere, really). So how else can people store a little wealth and still be able to use it easily in the modern world?

(cue Cypher with his "Daaaash to digital caaaash")