z

[Odalv]

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")

No one (maybe few(10)) knows about Bitcoin and No ONE is SELLing BTC now.  https://localbitcoins.com/country/CY (this will change)

[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")

No one (maybe few(10)) knows about Bitcoin and No ONE is SELLing BTC now.  https://localbitcoins.com/country/CY (this will change)

Too late for Cyprus depositors. It's the PIIGS that will be running.

[Jobe7]

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.

Both QFT

Here's a BBC report on the situation.

http://www.bbc.co.uk/news/world-europe-21814325

GOGO TRACTOR POWER!

Seriously though, as I've been saying, fiat is already dead, what is happening are the death throws of an much abused system