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Author Topic: 2012-06-11 businessinsider.com - And Now Europeans Are Dumping Euros For Bitcoin  (Read 1136 times)
julz
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June 11, 2012, 10:22:20 PM
 #1

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And Now Europeans Are Dumping Euros For Bitcoin

Ben Duronio
2012-06-11

http://www.businessinsider.com/europeans-putting-money-into-bitcoin-2012-6

With the huge debt crisis in Europe, locals are moving their money out of banks in fear of losing their savings.
Where are they putting their money?
Some are turning to Bitcoin, reports the Financial Post.
...

@electricwings   BM-GtyD5exuDJ2kvEbr41XchkC8x9hPxdFd
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Spekulatius
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June 11, 2012, 10:47:51 PM
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BS, what numbers are they basing their claims on?
Fantasy numbers? Invisible numbers?
Thats worse then reading the speculation forum.
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June 11, 2012, 10:49:05 PM
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BS, what numbers are they basing their claims?
Phantasy?

Yeah. I call BS on that too.

BTC is a game. EUR is established.

Would be dumb trading the crappy EUR for an even crappier BTC. It's like jumping from a tower.

BTC is riskiest asset ever. EUR not so much.
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June 11, 2012, 11:12:51 PM
 #4

BS, what numbers are they basing their claims?
Phantasy?

Yeah. I call BS on that too.

BTC is a game. EUR is established.

Would be dumb trading the crappy EUR for an even crappier BTC. It's like jumping from a tower.

BTC is riskiest asset ever. EUR not so much.

There's no question that bitcoin is riskier than just about any government issued currency in terms of maintaining value, but there is something to be said for the ability to move money (read: bitcoins) around with so little friction and the ability to secure one's stash of bitcoins more completely than any traditional currency.  Though, I'm not sure that to most people the latter are compelling enough reasons to transfer a significant portion of wealth to bitcoin.  We'll see, I guess.
kiba
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June 11, 2012, 11:48:17 PM
 #5

Yeah. I call BS on that too.

BTC is a game. EUR is established.

Would be dumb trading the crappy EUR for an even crappier BTC. It's like jumping from a tower.

BTC is riskiest asset ever. EUR not so much.

Euro is now the second most traded currency on bitcoin exchanges. You may think bitcoin is a game, but apparently those Europeans don't.

proudhon
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June 12, 2012, 03:04:32 AM
 #6

Yeah. I call BS on that too.

BTC is a game. EUR is established.

Would be dumb trading the crappy EUR for an even crappier BTC. It's like jumping from a tower.

BTC is riskiest asset ever. EUR not so much.

Euro is now the second most traded currency on bitcoin exchanges. You may think bitcoin is a game, but apparently those Europeans don't.

Was the Euro ever not the second most traded currency on bitcoin exchanges?  I always thought it was, but I never really checked into it.
dree12
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June 12, 2012, 03:06:57 AM
 #7

Yeah. I call BS on that too.

BTC is a game. EUR is established.

Would be dumb trading the crappy EUR for an even crappier BTC. It's like jumping from a tower.

BTC is riskiest asset ever. EUR not so much.

Euro is now the second most traded currency on bitcoin exchanges. You may think bitcoin is a game, but apparently those Europeans don't.

Was the Euro ever not the second most traded currency on bitcoin exchanges?  I always thought it was, but I never really checked into it.
Previously, the GBP was the second-most traded currency, back when Britcoin was strong. The GBP remains with enough volume to surpass EUR at any moment still.
proudhon
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June 12, 2012, 03:14:09 AM
 #8

Yeah. I call BS on that too.

BTC is a game. EUR is established.

Would be dumb trading the crappy EUR for an even crappier BTC. It's like jumping from a tower.

BTC is riskiest asset ever. EUR not so much.

Euro is now the second most traded currency on bitcoin exchanges. You may think bitcoin is a game, but apparently those Europeans don't.

Was the Euro ever not the second most traded currency on bitcoin exchanges?  I always thought it was, but I never really checked into it.
Previously, the GBP was the second-most traded currency, back when Britcoin was strong. The GBP remains with enough volume to surpass EUR at any moment still.

Oh yeah, forgot about that.  I think I conflated the two in my mind.  I am American, after all.
HorseRider
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June 12, 2012, 06:26:28 AM
 #9

BS, what numbers are they basing their claims?
Phantasy?

Yeah. I call BS on that too.

BTC is a game. EUR is established.

Would be dumb trading the crappy EUR for an even crappier BTC. It's like jumping from a tower.

BTC is riskiest asset ever. EUR not so much.

you're tagged "scammer", why so?

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Spekulatius
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June 12, 2012, 09:49:05 AM
 #10

Yeah. I call BS on that too.

BTC is a game. EUR is established.

Would be dumb trading the crappy EUR for an even crappier BTC. It's like jumping from a tower.

BTC is riskiest asset ever. EUR not so much.

Euro is now the second most traded currency on bitcoin exchanges. You may think bitcoin is a game, but apparently those Europeans don't.

I AM european, living in Europe. But thats not important. What would be a clear indicator of the "Euro crisis [or whatever] giving BTC a boost" would be a rise in volume on the exchanges. But thats not happening!
Therefore all of that recent euro crisis/bitcoin boost talk is just fantasy.
Technomage
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June 12, 2012, 10:16:04 AM
 #11

I AM european, living in Europe. But thats not important. What would be a clear indicator of the "Euro crisis [or whatever] giving BTC a boost" would be a rise in volume on the exchanges. But thats not happening!
Therefore all of that recent euro crisis/bitcoin boost talk is just fantasy.
What the hell are you smoking? I checked the volumes a few weeks ago and I had to double check now. The numbers are as follows, the last 30 days of trading compared to the average 30 days of last 6 months. Based on EUR volume.

These numbers are approximations based on quick calculations. I added Bitstamp because a lot of Europeans use it even though it uses USD.

Mt. Gox EUR: +20%
Bitcoin.de: +50%
Intersango EUR: +80%
Bitstamp USD: +100%

What you're talking about is empirically wrong. The volumes have been WAY up for months for Euros. Mt. Gox USD has been going down but it's difficult to say how much of that is related to this.

As a sidenote BTC-E is +100% and that one is used by a lot of Russians. Russia is not in the Euro so that's not directly related to this, but anyway.

Denarium - Leading Physical Bitcoin Manufacturer - Special Xmas deals now live!
Realpra
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June 12, 2012, 05:54:15 PM
 #12

I am European and dumped some currency pegged to the EUR.

I don't fear collapse of the EU, but I don't trust banks or my mattress and I don't like inflation eating 8% of my money over the last 2 years.

That's just compared to $, who knows how much I lost compared to bread or gold.


BTC more risky than fiat? Have you been living on this planet the last 4 years?


Apparently I am not alone.

Cheap and sexy Bitcoin card/hardware wallet, buy here:
http://BlochsTech.com
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