The financial markets are starting to crash, abandon the fiat titanic

[nuff]

Equity markets are suffering a 10% correction. I doubt this is the "big correction" many foresee. However, bitcoin is enjoying a nice bounce along with gold which is not a coincidence. It is ironic that someday Main Street will consider investment in bitcoin a "flight to safety."

To call it a 'correction' is putting it mildly.  Market's getting unstable and those in power are just trying to prop it back up, but for how long.  Observe the rich, they are already pulling money out of fiat and putting into assets. Either a major hyperinflationary depression, or a total collapse of the system, is looming.  It's just a matter of time when main street start to realize it's just as practical and more convenient to put money into bitcoin that can hold its value just as good if not better than other assets.

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[2dogs]

You realize that folks like you will prob'ly be the first to go, right?
"Gentlemen, I'll reward you handsomely with my bitcoin in exchange for your scrumptious can of spam.  Let us retire to some quaint bistro with public wifi, and indulge in decaf soy frappuccinos while we wait an hour for the six confirms."

Hey, clueless - you have no idea who you are talking to.

[KJO]

So hands up all those that predicted a rise in Bitcoin price when/if the markets started to fall?

The fall hasn't even begun yet genius. DJIA below 15K.....no support until 12.5K and it WILL retest. PPT is running out of ammo.

What u are doing is calling game set match in the 1st quarter. Sit your ass down and enjoy whats coming. When it gets here, then you can ask your question again.

I think you're only reading what you want to see... and perhaps you have anger issues?

You have stupid issues.

You're looking for the action before the cause and perhaps expect a hug?

[naplam]

So hands up all those that predicted a rise in Bitcoin price when/if the markets started to fall?

I would predict this, but it frequently follows the stock market. I can't think of any reason why? It makes more sense to run counter to the market, like gold. Whats with that?

It makes sense to follow risk trends. Bitcoin is a risky asset, like emerging market stocks but even worse. When there's a flight to safety in full risk aversion -we're on the verge of that right now- all the risky crap gets dumped and people buy treasury bonds, gold and so on. In a risk-off environment, there is no way some speculation-fueled asset like Bitcoin would thrive. Unless there's the rare circumstance in which you need bitcoin to circumvent capital controls (remember Cyprus?), so don't expect bitcoin to rally wildly unless (until?) there's mass defaults and bail-ins.

This is what I think I'm seeing right now (happy to see evidence to the contrary) although I'd disagree that there was a lot of capital flowing into Bitcoin from Cypriots. Is there a source for this?

Cyprus is the go-to offshore banking jurisdiction for Russian dirty money. Cypriots are not behind all of the money that was deposited in Cyprus.  Evidence is circumstantial but I'd say fear made some people invest in bitcoin after capital controls and confiscation were enforced in Cyprus. Just recently we've seen Russia ban bitcoin, and we know the chinese have been using it to get money out of the country.
http://www.businessweek.com/articles/2013-03-18/behind-the-cyprus-tax-russian-deposits-and-a-suspicious-eu
http://money.cnn.com/2013/03/28/investing/bitcoin-cyprus/
http://blogs.wsj.com/eurocrisis/2013/03/21/how-much-russian-money-is-in-cyprus/

While he isn't going to build any massively successful business making this kind of statements -not that he intends to-, Amir Taaki got it right when he said what Bitcoin is:

Bitcoin is a shitty payments system. It is not meant for buying coffee at Starbucks. It is an economical tool to enable new forms of trade to thrive which extends further into the areas of resource management, decentralized law, and digital governance. We can use this to create the next generation of economic activity between humans, and organize on a local level much larger than ever before possible. We can find new ways to disempower banks, politicians, lawyers, police, judges and institutions.

http://cointelegraph.com/news/112183/bitcoins-political-neutrality-is-a-myth-amir-taaki-interview
http://bitcoinmagazine.com/17005/bitcoin-technology-worth-nothing-interview-dark-wallet-front-man-amir-taaki/

Bitcoin's utility is in its potential for preserving privacy, anonymity and independence from states or other third parties. Bitcoin (the currency) thrives in a risk-on environment because it is a risky asset fueled by speculation. But, it also thrives in an environment of authoritarianism or during times of extreme fear because it is immune to confiscation by states.

[NotLambchop]

You realize that folks like you will prob'ly be the first to go, right?
"Gentlemen, I'll reward you handsomely with my bitcoin in exchange for your scrumptious can of spam.  Let us retire to some quaint bistro with public wifi, and indulge in decaf soy frappuccinos while we wait an hour for the six confirms."

Hey, clueless - you have no idea who you are talking to.

Haithere little boy, does your mom know you're on the internet?



*Yes, yes I do know exactly who I'm talking to.

[sidhujag]

You realize that folks like you will prob'ly be the first to go, right?
"Gentlemen, I'll reward you handsomely with my bitcoin in exchange for your scrumptious can of spam.  Let us retire to some quaint bistro with public wifi, and indulge in decaf soy frappuccinos while we wait an hour for the six confirms."

Hey, clueless - you have no idea who you are talking to.

Nvm him just a troll going around fudding to bring price down so he could buy. He must have sold or missed the bus and wants to go cheap as possible by capturing the short term thinking audience and instilling fear by showing that in reality bitcoin is not usable mainstream.

However he does not understand technology and its ability to evolve and adapt unlike his fud attempts so just ignore him her. Smart ppl see thru these mosquitos they are a dime a dozen.

[NotLambchop]

...He must have sold or missed the bus ...

Lol, such butthurt.  You know that Russia is planning to criminalize Bitcoin, right?  You could be on the wrong bus



In the mean time, keep on buying, intrepid investor!  If it wasn't for finance enthusiasts like yourself, who would be left to buy my coin?

[sidhujag]

...He must have sold or missed the bus ...

Lol, such butthurt.  You know that Russia is planning to criminalize Bitcoin, right?  You could be on the wrong bus



In the mean time, keep on buying, intrepid investor!  If it wasn't for finance enthusiasts like yourself, who would be left to buy my coin?

i dont think you have very many coins.. just like china banning cowboy?

With the gold repricing russia doesnt want anything to reflect the plan back on them thus they wanna make sure they get all they can for their gold.. makes sense for them kniwing us has tons of coins from dpr already

[NotLambchop]

^wut?  Do you even English, bro?

[sidhujag]

^wut?  Do you even English, bro?

Thats it hey? Knew you couldnt keep up.. truck along

[NotLambchop]

Look, I'm only trying to help.  Wouldn't you be more comfortable posting in your native tongue?
Or playing some vidya?