Bank Runs in Ukraine. The next Cyprus?

[nextgencoin]

Will this inspire a BTC spike?

http://www.zerohedge.com/news/2014-11-16/ukraine-bank-runs-begin-poroshenko-plans-sever-socio-economic-ties-separatist-held-r

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[Caernarvon]

Probably but who cares it's Ukraine?

[gog1]

Did Cyprus really caused the BTC rally before?!  I doubt it.

[Flashman]

If everybody thought it did, and acted on such belief, then it did, even though it didn't 

[1Referee]

Why do you think they will get into Bitcoin?

They most likely hold it in their save or just transfer their money to foreign countries.

[galbros]

I am surprised that more people in countries like Ukraine and Argentina that have currency issues don't use bitcoin.  However, bitcoin has dropped far further against the USD this year than those currencies have.  (Sad to say as I am a bitcoin believer.) I think a bigger part of the issue is that there isn't the infrastructure to easily convert your bank holdings into bitcoin in these (or almost any) country.

[var53]

I am surprised that more people in countries like Ukraine and Argentina that have currency issues don't use bitcoin.  However, bitcoin has dropped far further against the USD this year than those currencies have.  (Sad to say as I am a bitcoin believer.) I think a bigger part of the issue is that there isn't the infrastructure to easily convert your bank holdings into bitcoin in these (or almost any) country.

I don't know about now but it was easy to convert your bank holdings into bitcoin in Ukraine last summer. On July 8 the article linked said a nationwide network of more than 4,900 payment terminals in the Ukraine now allows customers to easily buy bitcoin for cash.

http://www.coindesk.com/5000-terminals-across-ukraine-now-offer-bitcoin-

[jonald_fyookball]

I am surprised that more people in countries like Ukraine and Argentina that have currency issues don't use bitcoin.  However, bitcoin has dropped far further against the USD this year than those currencies have.  (Sad to say as I am a bitcoin believer.) I think a bigger part of the issue is that there isn't the infrastructure to easily convert your bank holdings into bitcoin in these (or almost any) country.

yes it dropped against usd because it was already sky high....obviously there was a huge bubble that popped but now we have a new baseline, let's see what happens from here, also realize bitcoin has built in inflation which decreases over time.

[TinaK]

the most liar are from Ukraine or Nigeria

[Kimowa]

Did Cyprus really caused the BTC rally before?!  I doubt it.

Yes it did. The reason for the spike in the price of bitcoin when Cyprus was having it's banking issues was that people across europe were afraid that Cyprus's problems would spread throughout europe and other country's banks would institute similar capital restrictions and deposit haircuts.

There is no such risk in the ukraine

[bornil267645]

I am hearing lots of theories on when and how the next BTC spike will happen. But at the moment it's stuck like Ice. So whatever happens, hope it brings well for the BTC community.

[BeataTX91]

I am hearing lots of theories on when and how the next BTC spike will happen. But at the moment it's stuck like Ice. So whatever happens, hope it brings well for the BTC community.

Yeah, let's hope so.

[bryant.coleman]

We should be safe, especially after BTC-E moved its office from Kiev to Sofia in 2013.  I don't think not many Bitcoin-based businesses operate out of Ukraine right now.

But still feels bad, since Kiev was sort of Bitcoin capital of the Europe.