Next Major Bank crash will be THE BEST time for bitcoins.

[MovieBTC]

as soon as another Major bank crashes Bitcoins will rise to they sky. so let's hope for a bank to crash lol

[Wandererfromthenorth]

lmao

[silversmith]

Just not my bank please. I like the people that work there.

[FattyMcButterpants]

you're reaching here. "good news, price down? we need bad economic news to drive price up!" meh, bitcoin will go up when everyone has given up and all the leveraged longs are dead.

[MatTheCat]

as soon as another Major bank crashes Bitcoins will rise to they sky. so let's hope for a bank to crash lol

If a major bank collapses, and there is a big bank run, how are people going to wire funds to Bitcoin exchanges in order to bid up the price of Bitcoin?

Au contraire, a bank collapse, followed by a bank run that isn't bailed out by the government/taxpayer would result in massive price deflation of everything, especially in something like Bitcoin.

In a deflationary bank crash, what you would want is cash. Piles of cash. Not in the bank (where it will be disappeared) but under your mattress.

[Dalmar]

^ Indeed, what bitcoiners should be hoping for is that QE to infinity continues.

Banking issues are no good for bitcoin in the short term. We all know what happened when the PBOC squeezed out liquidity to Chinese exchanges.

[FattyMcButterpants]

yep, no money, no honey! all hail free money and easy credit! as far as banking issues go, i'm not sure that the type of situation OP is talking about is comparable to the PBOC ban, but unlikely IMO to cause the type of "panic buying fever" that bitcoiners expect.

[spiderbrain]

I totally agree. A major issue during the 2008 crisis was counterparty risk, and bitcoin doesn't have any. Cash is only worth as much or as little as the government prints. Governments can't print more bitcoins. All major banks are technically bankrupt, but it's the cycle of credit and confidence that keeps them appearing solvent. My bitcoin balance will remain the same. Admittedly the value of each bitcoin is volatile, but in those circumstance I'd be happy to take a volatile currency with set unit numbers and no risk of bankruptcy vs the financial mainstream.

[botany]

A major bank crash seems to be unlikely in the near future

[lomalio]

We don't want that to happen just yet. Let the BTC infrastructure improve first then let's see mass adoption after that.

[SunBin]

As much as people dislike fiat, bitcoin has high dependency on the banking system.

That is the only way for merchant to convert bitcoin into fiat and back to their own bank account.

[spiderbrain]

A major bank crash seems to be unlikely in the near future

WTF? Tell that to the Fed http://www.bloomberg.com/news/2014-08-05/biggest-u-s-banks-told-to-simplify-their-living-wills-.html

[NWO]

awaiting another country to go under (cyprus all over again)

[AdamSmith]

awaiting another country to go under (cyprus all over again)

How high did bitcoin go up when Cypus went under?

Argentina going under doesn't seem to have any effect on coin price.

[Dalmar]

awaiting another country to go under (cyprus all over again)

How high did bitcoin go up when Cypus went under?

Argentina going under doesn't seem to have any effect on coin price.

The leaked Mt.Gox data shows that practically no Cypriots had accounts on Gox (the dominant exchange at the time). 

The Cyprus crisis was just an excuse for a rally and not necessarily the actual reason for it. The real reason for the Q1 2013 rally was due to ''fear of missing out'' by Western techies.

[ensurance982]

as soon as another Major bank crashes Bitcoins will rise to they sky. so let's hope for a bank to crash lol

For one thing this is a rather destructive thing, to actually hope for the failure of a bank. But it also comes around as a rather last hope for Bitcoin if you phrase it that way. I know we're all hoping for Bitcoin to succeed (most of the people around here, anyways) but should we be focussing on the positive things, rather than hoping for banks to fail
I know this thread may be a bit cynical, but stuff like this makes me question a lot of people in the Bitcoin world... Bitcoin succeeding doesn't have anything to do with the traditional Banking system going bust!

[Bogleg]

awaiting another country to go under (cyprus all over again)

How high did bitcoin go up when Cypus went under?

Argentina going under doesn't seem to have any effect on coin price.

The leaked Mt.Gox data shows that practically no Cypriots had accounts on Gox (the dominant exchange at the time). 

The Cyprus crisis was just an excuse for a rally and not necessarily the actual reason for it. The real reason for the Q1 2013 rally was due to ''fear of missing out'' by Western techies.

So, bitcoin is over hyped and it will not stop the world from sinking into a black hole of debt.

[botany]

awaiting another country to go under (cyprus all over again)

How high did bitcoin go up when Cypus went under?

Argentina going under doesn't seem to have any effect on coin price.

The leaked Mt.Gox data shows that practically no Cypriots had accounts on Gox (the dominant exchange at the time). 

The Cyprus crisis was just an excuse for a rally and not necessarily the actual reason for it. The real reason for the Q1 2013 rally was due to ''fear of missing out'' by Western techies.

Let us hope the Eastern techies drive up bitcoin in Q1 2015 due to their "fear of missing out." 

[giveBTCpls]

Well, when the Cyprus incident happened it sky rocketed from like 30 to 250, so there is a correlation between crashes and BTC bear rallies.

[Xch4ng3]

The only thing is not every one will react the same way. Adaptation is slow but sure, it's not going to happen overnight. If a bank collapses the first thought in people's head won't be to run to Bitcoin to save them.