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Author Topic: 2013-03-20 Zero Hedge---Spain & Bitcoin  (Read 1143 times)
xcsler
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March 21, 2013, 12:54:51 AM
 #1

Yet another ZH article:
http://www.zerohedge.com/news/2013-03-20/spain-bitcoin-run-has-started

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March 21, 2013, 01:13:43 AM
 #2

huge

and terrifying

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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March 21, 2013, 01:28:12 AM
 #3

hype BS  Roll Eyes

Yes, sure, maybe there's an increased volume from Europe but I'm much more inclined to think it's a minority trying to get in on the action of the recent price rise rather than people actually scrambling to get their wealth into a safe heaven. Bitcoin although I think it may one day be is not a safe heaven yet.

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BrightAnarchist
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March 21, 2013, 01:32:18 AM
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hype BS  Roll Eyes

Yes, sure, maybe there's an increased volume from Europe but I'm much more inclined to think it's a minority trying to get in on the action of the recent price rise rather than people actually scrambling to get their wealth into a safe heaven. Bitcoin although I think it may one day be is not a safe heaven yet.

Agreed.
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March 21, 2013, 01:32:26 AM
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hype BS  Roll Eyes

Yes, sure, maybe there's an increased volume from Europe but I'm much more inclined to think it's a minority trying to get in on the action of the recent price rise rather than people actually scrambling to get their wealth into a safe heaven. Bitcoin although I think it may one day be is not a safe heaven yet.

Indeed.  Bitcoins traded a bit higher in dollars today than in euros (probably also because of the round number psychology barrier), so the euro purchases aren't the driving force at the moment.  
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March 21, 2013, 01:34:55 AM
 #6

Either here or on Reddit someone linked to a Spanish newspaper article about Bitcoin that came out before the Cyprus thing that was probably responsible for the uptick in mobile app downloads.
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March 21, 2013, 01:38:19 AM
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A solid foundation in an unstable economy would be the making of bitcoin...

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March 21, 2013, 02:09:13 AM
 #8

On a side note.  I think bitcoin is now being posted about more than silver on ZH --> WTF?
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March 21, 2013, 09:25:11 AM
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On a side note.  I think bitcoin is now being posted about more than silver on ZH --> WTF?

They even made it their headline. Don't be fooled by all the Mad Max idiots commenting on ZH, most readers are sane people looking for a +EV trade and they found out Bitcoin might be the trade of the century. So naturally Tyler likes it.

Also, do not underestimate the endorsements of Al Gore and Nassim Taleb (who is mentioned in the ZH post). Especially Taleb has a massive reputation among traders, and rightly so.

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March 21, 2013, 09:37:58 AM
 #10

Its a nonsense story based mostly on the popularity position of bitcoin watching apps on the iPhone chart.

Seeing Spain is mostly Android, and these apps are English language, its not going to be difficult to get some chart movement if you have an article in an influential magazine to a very niche audience.

Funny, enough, us linking to the story, will give it more credibility to the Google trends when that comes out, and the whole cycle repeats!

Eventually, we we have is a lot of self perpetuating facts about how popular bitcoin is in Spain!

Don't you just love numbers?

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March 21, 2013, 10:02:45 AM
 #11

hype BS  Roll Eyes

Yes, sure, maybe there's an increased volume from Europe but I'm much more inclined to think it's a minority trying to get in on the action of the recent price rise rather than people actually scrambling to get their wealth into a safe heaven. Bitcoin although I think it may one day be is not a safe heaven yet.

Agreed.

Agreed. If they were really trying to protect their wealth, we would already be at 200USD / 1BTC.

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