The Cyprus/Bitcoin connection is totally fake

[Jocky]

I think you're right, my website has gotten 0.01% from it's viewers from Cyprus since the problems started.

[gogxmagog]

Russian Mafia (basically every russian with any sort of money) uses cypress as an offshore for their funds. There has been a rise in russia. The bubble is mostly supported by US tho. I think many nations are looking at cyprus and seeing shades of things to come, so indirectly, in many ways, cyprus has some measure in this current boom.

[cr1776]

Very true. And since prices are set at the margin, it only takes a small increase in interest in bitcoin and a small increase in usage to have a large increase in price. 
 

It's not the cypriots. It's people from the other european union countries being aware of the impending doom, increasing diversification and taking money out of savings in case shit goes down. Don't look at bitcoin in cyprus, look at it's growth in Spain and Italy, they are next under the knife.

[phatsphere]

It's not the cypriots. It's people from the other european union countries being aware of the impending doom, …

yes, that's exactly what i would have want to write. indeed, i think the cyprus effect might even extend around the world into the USA.

[mai77]

Cyprus vs. China

I would agree that Mr China is pulling up mightily.

CNY is the #3 currency against BTC now. massive.

[RodeoX]

I think this connection is overblown as well. But, the number of clients downloaded can be tricky. For example in Cyprus many account holders are based in Russia and other places. They are using Cypriot accounts as tax shelters and do not live on the island. 

[Elwar]

It was mentioned here that Cyprus is a very poor nation and that we would not see a whole lot of activity from the people of Cyprus as most of them do not even have Internet connections.

On the other hand markets shift on the slightest indicators. Cyprus is an indicator of what governments are willing to do during this financial crisis. Ben Bernanke could be overheard at dinner saying "stimulate" and the DJIA could jump 200 the next day.

Markets tend to try to beat the actual affects. A huge multi-million barrel oil field is discovered and the price of oil goes down. Even though not one drop of oil has yet to be pumped.