Why BitCoin is about to explode again

[pizza]

Last time when there was economic turmoil with Cyprus and Europe as a whole Bitcoin skyrocketed. Well ladies and gentleman we're back, with Greece in trouble again, expect this to lead to other negative headlines for other European countries.

With mainstreams media love fest with Bitcoin expect them to promote it as a safe heaven, leading to frenzied buying again.

[axefrog]

Sources please?

[syn999]

need to see some blood first

[Stephen Gornick]

Sources please?

The stock market traded at two-month lows after Greece became the first developed nation ever to be lowered to emerging market status by equity index provider MSCI.

- http://www.reuters.com/article/2013/06/12/us-greece-tv-idUSBRE95A0ZN20130612

The national Greek TV is going dark, though the journalists are offering to work for free using social media (including Youtube).  

Though none of that means Bitcoin will rise, it just means troubles around the world (yes, including Cyprus, Argentina -- like no more sending Western Union out, France -- like no currency sent through the mail, Thailand, India, and more) are not "fixed".  And Bitcoin is one of the options that remain for those looking to diversify their holdings or to transfer their money.

[pizza]

http://www.zerohedge.com/news/2013-06-12/things-greece-are-once-more-going-bump-trading-day

[pizza]

Not to mention within the next year due to the cheap bubble producing money, when it collapses the whole worlds economy worst than 2008, but that's a long term trend. I think this next correction in markets will get Bitcoin up to the $300-$500 dollar mark again, and create a new support level maybe around the $200 mark, just like $100 right now seems like heavy psychological support.

[julius]

I agree with OP.
I can't think of a better way for the average Joe to realise how Bitcoin beats fiat than to get literally robbed by your bank, Cyprus-style.
We are bound to see more deposits and savings being seized in Greece, Spain, Portugal and Italy.
When that happens people will desperately seek ways of keeping their savings. Cyprus has only one milion inhabitants and the rumour of BTC being a possible alternative for its citizens got the price to skyrocket.
Spain and Italy have together almost 110 milion inhabitants. The consequences of 1% of the wealth of these two countries going into BTC would be massive.

[pizza]

I agree with OP.
I can't think of a better way for the average Joe to realise how Bitcoin beats fiat than to get literally robbed by your bank, Cyprus-style.
We are bound to see more deposits and savings being seized in Greece, Spain, Portugal and Italy.
When that happens people will desperately seek ways of keeping their savings. Cyprus has only one milion inhabitants and the rumour of BTC being a possible alternative for its citizens got the price to skyrocket.
Spain and Italy have together almost 110 milion inhabitants. The consequences of 1% of the wealth of these two countrys going into BTC would be massive.

Longer term If the worlds governments don't shut down the internet, and right out attack Bitcoin which I'm pretty sure won't happen as you have some powerful people getting behind it, such as the Winklevoss Twins. The price can reach $1,000+ especially once the world's economy starts to go to utter crap again. We could see Gold price appreciation trajectory if not more.

[syn999]

Wait s sec
http://www.tradingeconomics.com/greece/inflation-cpi

I thought greek is short of moeny, not inflation

If they dont have money, why would they bother to buy bitcoin

[Operatr]

Here is another fresh reason we may see Bitcoin start a massive push again soon


http://finance.yahoo.com/news/japan-adopt-bail-ins-force-181947896.html

Japan is close to pulling a Cyprus and just stealing their "bail-in" money from account holders.

Cyprus is not the technical mecca that Japan is, can you imagine how fast Bitcoin could spread through that country?


Or Argentina where inflation is eating the Peso alive

Or Greece who is on the brink of government and social collapse

Or Slovenia needing a bailout soon problably

Or the PMI in the Eurozone showing massive contraction across the board against already fragile governments and financial systems

Or China who's massive overbuilding is beginning to contract, leading to a tank of the Yuan

Or America and its continued economic pumping at the hands of Bernake and the Bankster Squad, which is just being drained into the world's biggest casino (aka Wall Street) where it is gambled away recklessly, many predicting a massive stock market crash within the next 6 months

Or...

The whole world is in trouble. Massive, inescapable trouble.

Buckle in, this planet is about to get weird


Bitcoin may be the only direction to go as the old economic system begins to burn down around us.

[pizza]

Here is another fresh reason we may see Bitcoin start a massive push again soon


http://finance.yahoo.com/news/japan-adopt-bail-ins-force-181947896.html

Japan is close to pulling a Cyprus and just stealing their "bail-in" money from account holders.

Cyprus is not the technical mecca that Japan is, can you imagine how fast Bitcoin could spread through that country?


Or Argentina where inflation is eating the Peso alive

Or Greece who is on the brink of government and social collapse

Or Slovenia needing a bailout soon problably

Or the PMI in the Eurozone showing massive contraction across the board against already fragile governments and financial systems

Or China who's massive overbuilding is beginning to contract, leading to a tank of the Yuan

Or America and its continued economic pumping at the hands of Bernake and the Bankster Squad, which is just being drained into the world's biggest casino (aka Wall Street) where it is gambled away recklessly, many predicting a massive stock market crash within the next 6 months

Or...

The whole world is in trouble. Massive, inescapable trouble.

Buckle in, this planet is about to get weird


Bitcoin may be the only direction to go as the old economic system begins to burn down around us.

It is the only way to go, then they will reset all the worlds debts, introduce a digital coin or modify Bitcoin to where it's centralized, get rid of physical cash, and chip your butthole into the new world order.

[Its About Sharing]

Here is another fresh reason we may see Bitcoin start a massive push again soon


http://finance.yahoo.com/news/japan-adopt-bail-ins-force-181947896.html

Japan is close to pulling a Cyprus and just stealing their "bail-in" money from account holders.

Cyprus is not the technical mecca that Japan is, can you imagine how fast Bitcoin could spread through that country?


Or Argentina where inflation is eating the Peso alive

Or Greece who is on the brink of government and social collapse

Or Slovenia needing a bailout soon problably

Or the PMI in the Eurozone showing massive contraction across the board against already fragile governments and financial systems

Or China who's massive overbuilding is beginning to contract, leading to a tank of the Yuan

Or America and its continued economic pumping at the hands of Bernake and the Bankster Squad, which is just being drained into the world's biggest casino (aka Wall Street) where it is gambled away recklessly, many predicting a massive stock market crash within the next 6 months

Or...

The whole world is in trouble. Massive, inescapable trouble.

Buckle in, this planet is about to get weird


Bitcoin may be the only direction to go as the old economic system begins to burn down around us.

Well, if you put it like that...

Very dangerous to be trading in and out of BTC. Not saying not to do it, but you got to be buy your computer just in case. (If you are sitting in cash or even if we take a drop down, volume looks bad.)

[Its About Sharing]

It is the only way to go, then they will reset all the worlds debts, introduce a digital coin or modify Bitcoin to where it's centralized, get rid of physical cash, and chip your butthole into the new world order.

This they that you speak of, is it the same they who are responsible for the current problems?

Something tells me that isn't going to go over real well...

[pizza]

It is the only way to go, then they will reset all the worlds debts, introduce a digital coin or modify Bitcoin to where it's centralized, get rid of physical cash, and chip your butthole into the new world order.

This they that you speak of, is it the same they who are responsible for the current problems?

Something tells me that isn't going to go over real well...

same they, the crash might have already started Japan nikkei is having wild 600 point intraday swings. The Nikkei has always been volatile but this is still ridiculously volatile. Other world markets are in confirmed downtrends some are in bear markets, Greece and Japan, now it's the US turn to follow. If we don't get another massive QE pump the collapse may have already started, before year end.

[Operatr]

Here is another fresh reason we may see Bitcoin start a massive push again soon


http://finance.yahoo.com/news/japan-adopt-bail-ins-force-181947896.html

Japan is close to pulling a Cyprus and just stealing their "bail-in" money from account holders.

Cyprus is not the technical mecca that Japan is, can you imagine how fast Bitcoin could spread through that country?


Or Argentina where inflation is eating the Peso alive

Or Greece who is on the brink of government and social collapse

Or Slovenia needing a bailout soon problably

Or the PMI in the Eurozone showing massive contraction across the board against already fragile governments and financial systems

Or China who's massive overbuilding is beginning to contract, leading to a tank of the Yuan

Or America and its continued economic pumping at the hands of Bernake and the Bankster Squad, which is just being drained into the world's biggest casino (aka Wall Street) where it is gambled away recklessly, many predicting a massive stock market crash within the next 6 months

Or...

The whole world is in trouble. Massive, inescapable trouble.

Buckle in, this planet is about to get weird


Bitcoin may be the only direction to go as the old economic system begins to burn down around us.

It is the only way to go, then they will reset all the worlds debts, introduce a digital coin or modify Bitcoin to where it's centralized, get rid of physical cash, and chip your butthole into the new world order.

They can introduce whatever centralized garbage they want, they can't force anyone to use it. Moving to Bitcoin will erase the old debt on its own as that fractional reserve debt cannot translate into the Bitcoin economy.

The Globalists don't know who they are screwing with. We all own the Internet. We all own Bitcoin. We all own BitTorrent. We all are the new paradigm of open and free technology to solve our problems without a profit incentive, and open and accountable government system. In a sense Bitcoin is the first shot fired in a global Neo Civil War. Moving to our own money system should make it pretty clear we're done with the United Corporations of America and NWO banker globalist pigs.

I think we'll see Bitcoin's true power soon enough as it begins to reclaim the scorched areas of the economy and gives it back to the common people. There is nothing they can do to stop it, nothing they can do to kill the idea.

Should be a fun year

[pizza]

Read up on fascist and communist governments there is plenty they can do to squash the idea and the people, especially with all the anti-gun idiots, who needs guns, we will defend against a fascist military force with bow and arrows.

When enough people get killed and murdered you won't hear much about said ideas, everyone will conform out of fear, I like your optimism but things are not going to get better when 99% of the people won't join in.

[tutkarz]

Read up on fascist and communist governments there is plenty they can do to squash the idea and the people, especially with all the anti-gun idiots, who needs guns, we will defend against a fascist military force with bow and arrows.

When enough people get killed and murdered you won't hear much about said ideas, everyone will conform out of fear, I like your optimism but things are not going to get better when 99% of the people won't join in.

they cant suppress people forever. they failed to do this when there was no internet or phones. now people can communicate and coordinate actions which lessens advantage governments have over us. Also we always will be in bigger numbers and even police or army can join us too. They are also people who might not like new order even if it pays them.

[Operatr]

Read up on fascist and communist governments there is plenty they can do to squash the idea and the people, especially with all the anti-gun idiots, who needs guns, we will defend against a fascist military force with bow and arrows.

When enough people get killed and murdered you won't hear much about said ideas, everyone will conform out of fear, I like your optimism but things are not going to get better when 99% of the people won't join in.

they cant suppress people forever. they failed to do this when there was no internet or phones. now people can communicate and coordinate actions which lessens advantage governments have over us. Also we always will be in bigger numbers and even police or army can join us too. They are also people who might not like new order even if it pays them.

More governments have been overthrown in the last 5 years than any other time in history, and tools like Twitter were integral to that. Remember what happened in Egypt? They shut down the Internet and that just made it worse. That regime is now dead. They still have a lot of problems for sure, but the point is all over the world right now this second people are not standing for it.

https://en.wikipedia.org/wiki/2013_protests_in_Turkey the 99% there seem to have no problem telling the police and government go fuck themselves

This isn't in America yet because we're doing better than the rest of the planet, because we print the worlds reserve currency. But look at Detroit and other cities that are crumbling, more and more now broke, jobless, and/or homeless. We already saw some sparks with the Occupy movement. The more freedoms are encroached upon, the more reaction there will be. When people lose the comfort of American Idol and blissful ignorance, they will be face to face with a cold, disgusting reality that the rest of the world already knows. Most people here no longer trust the media, with the NSA being outed as the 1984 Ministry it is public trust in our banks and government is vanishing quickly.

Decent Human beings don't want to believe such evil exists because it is so extreme. But I think we're starting to wake up finally to the simple fact something must be done. I myself am a financial exile with noting left to lose. All I am doing with my time now is whatever I can to kick the status quo in the teeth, and I am not alone.

[Its About Sharing]

It is the only way to go, then they will reset all the worlds debts, introduce a digital coin or modify Bitcoin to where it's centralized, get rid of physical cash, and chip your butthole into the new world order.

This they that you speak of, is it the same they who are responsible for the current problems?

Something tells me that isn't going to go over real well...

same they, the crash might have already started Japan nikkei is having wild 600 point intraday swings. The Nikkei has always been volatile but this is still ridiculously volatile. Other world markets are in confirmed downtrends some are in bear markets, Greece and Japan, now it's the US turn to follow. If we don't get another massive QE pump the collapse may have already started, before year end.

I knew you knew the they... (see below) 

The thing that is not 100% clear to me is how do the markets drop if they are pumping them full of money, in two ways really:
1 - The artificially low interest rates make many savers (e.g. Japan, Germany, US, etc.) move money to the stock market - This adds to the building bubble.
2 - Banks are moving their money into assets (e.g. stock markets).

Now, how can that not be enough money to keep the markets going? Who is selling so much? It seems like the government is pumping the markets and thus allowing people with lots of shares to maybe start exiting before the crash? It isn't common Joe doing this.

Anyone?

[Operatr]

It is the only way to go, then they will reset all the worlds debts, introduce a digital coin or modify Bitcoin to where it's centralized, get rid of physical cash, and chip your butthole into the new world order.

This they that you speak of, is it the same they who are responsible for the current problems?

Something tells me that isn't going to go over real well...

same they, the crash might have already started Japan nikkei is having wild 600 point intraday swings. The Nikkei has always been volatile but this is still ridiculously volatile. Other world markets are in confirmed downtrends some are in bear markets, Greece and Japan, now it's the US turn to follow. If we don't get another massive QE pump the collapse may have already started, before year end.

I knew you knew the they... (see below)  

The thing that is not 100% clear to me is how do the markets drop if they are pumping them full of money, in two ways really:
1 - The artificially low interest rates make many savers (e.g. Japan, Germany, US, etc.) move money to the stock market - This adds to the building bubble.
2 - Banks are moving their money into assets (e.g. stock markets).

Now, how can that not be enough money to keep the markets going? Who is selling so much? It seems like the government is pumping the markets and thus allowing people with lots of shares to maybe start exiting before the crash? It isn't common Joe doing this.

Anyone?

Basically by inflating the markets this way it creates a false economy that is not in line with actual supply and demand, since the supply is artificial.

Imagine a game of Monopoly. The banker just gives you money from the box for the asking instead of making you actually earn it, which itself is paper and inherently worthless and more can be printed at any time. You use that money to buy houses and hotels to put on your properties also bought with this money. The problem is you can overbuild past demand because you can just keep getting more and more money. This creates an artificial economy. Building hotels on properties without any actual demand or need for them soon makes them insolvent as no one stays there. Soon the loans need paid back, and there is no rent coming in for these properties you built. You default on the loan, the bank has to add it to a mounting pile of unpaid debt. Otherwise called "insolvency". Soon your wive leaves you, you lose your house and become homeless, and probably use what you have left to start a drug addiction.

China has been doing exactly this, however they are building entire cities that are inhabited by no one and give nothing back to their real economy. The building keeps people employed, and construction businesses alive, and commodities markets alive to provide the raw materials. Without large bank loans to fund this construction, it would all grind to a halt because these cities are not generating any revenue to repay the loan needed to create them. 50 million workers would no longer have jobs, and the economy takes a serious hit when the reality of supply and demand snap back in line with how it really is. Businesses close, commodities markets bust, stock market goes down in flames, etc. This is in the process of happening right now.

This is going on all over the world thanks to Bernake's money press pumping funny money into the system constantly just to keep it all moving. There is no demand for the supply, because the supply is being driven by money that is created out of thin air and given away as credit instead of spent by people with a need for a service or product.


You can see how Bitcoin solves this by not allowing this kind of debt as our fractional reserve fiat system does, as Bitcoin essentially acts like a loan made in cash only, instead of a theoretical liability for the bank that can always just get more of the FEDs endlessly printed currency backed on absolutely nothing. As these markets start to burn bright, Bitcoin can swoop in and save the day, just like Cyprus.