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Author Topic: The euro crisis Time is running out. How will this affect Btc?  (Read 1046 times)
istar
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September 13, 2011, 08:13:28 PM
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The euro crisis Time is running out
http://www.economist.com/blogs/charlemagne/2011/09/euro-crisis

How will a potential failure of the EURO affect Bitcoin?

Will it make Bitcoin appear even more sound.
Or during bad times, people have less money to spend and are more careful.




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fcmatt
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September 13, 2011, 08:45:43 PM
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Germany (Europe) will bail out Greece because they know if they don't it will cost them a lot more down
the road. End of story. BTC will not skip a beat in it's usual mayhem.
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September 13, 2011, 09:07:01 PM
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Germany (Europe) will bail out Greece because they know if they don't it will cost them a lot more down
the road. End of story.
I doubt that is the end of the story. Greece has been bailed out before, and it didn't really help. Germany is very generous but even they have a limit.

(no idea how this relates to BTC though...)

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September 13, 2011, 09:10:45 PM
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Germany (Europe) will bail out Greece because they know if they don't it will cost them a lot more down
the road. End of story.
I doubt that is the end of the story. Greece has been bailed out before, and it didn't really help. Germany is very generous but even they have a limit.

(no idea how this relates to BTC though...)


So what is Germany going to do? Not give out anymore money and watch the whole economy go into
the toilet costing them 6 times as much as the bailout would have? Even if they have to do another bailout
after that it is still cheaper then letting the train wreck happen in the first place.

But this is just my opinion. The US was pretty much forced to do similar things, a la bailouts.
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September 13, 2011, 09:13:24 PM
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Germany (Europe) will bail out Greece because they know if they don't it will cost them a lot more down
the road. End of story.
I doubt that is the end of the story. Greece has been bailed out before, and it didn't really help. Germany is very generous but even they have a limit.

(no idea how this relates to BTC though...)


Which country are you both from? I am German and interested in thoughts from other countries about this - though it is not related to this topic;)
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September 13, 2011, 09:14:59 PM
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If it was a crisis, this would hurt bitcoin. The last thing people will do in a crisis is put money in something as risky as bitcoins.

Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
Minsc
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September 13, 2011, 10:22:35 PM
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Bitcoin is crashing!!

1DcXvfJdeJch9uptKopte5XQarTtj5ZjpL
coined
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September 13, 2011, 10:43:59 PM
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I don't think minsc reads the thread titles, he just posts in random places  Grin

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September 13, 2011, 11:04:19 PM
 #9

The euro crisis Time is running out
http://www.economist.com/blogs/charlemagne/2011/09/euro-crisis

How will a potential failure of the EURO affect Bitcoin?

Will it make Bitcoin appear even more sound.
Or during bad times, people have less money to spend and are more careful.

The news can only be negative for bitcoins.  The currency is a highly speculative play with wild price swings.  It's not as safe as gold for stashing your wealth.  I bet 99% of Europeans would have no idea how to buy a bitcoin either.  During times of trouble people gravitate towards safe haven currencies: US dollar, Swiss Franc, Japanese Yen.  All of these are pretty easy to buy for most people (just head down to your nearest popular tourist spot).  Greeks seeking to protect their wealth would do well to own paper Euros not printed in their country.  We may see scenes similar to 2008, where Germans were seen withdrawing Euros from ATMs, keeping the ones printed in Germany and redepositing the rest in hopes of getting German bank notes.


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Minsc
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September 13, 2011, 11:54:17 PM
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I just said this.

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