Russia vs Cyprus financial crisis - Bitcoin not getting any boost this time

[GonnaGrinditout]

Why the hell would Russians invest in bitcoin? They can invest in oil, silver, gold.. it 's more predictable and convenient when you have millions to invest.

[1714730530]

1714730530

[1714730530]

1714730530

[needFREElunch]

The situation is very different. In Cyprus, people were afraid that the government would seize all they had in their bank accounts. This should not happen in Russia. At least, that's what I hope.

I think it is more that the people of europe were afraid that the situation would spread accross europe, while this case is likely not going to spread outside of russia

[tzortz]

How could someone connect btc directly with rubble or The Cyprus crisis?

As said earlier is just speculations.

The today's downhill is because of rubble?

[leopard2]

it is politicians and banksters that give BTC a bad reputation, and also low acceptance, which results in too few people looking at BTC as a refuge or even a form of money

after the big crash, maybe? 

[Realpra]

Well I think I calculated that to sustain BTC price at 300$ you need ~0.6 billion dollars going into the Bitcoin system/year due to the mining of new coins.

At the prices we are at now its not enough to have something something going on in some country or some other speculation going on. Speculation and tech geek money has now been invested and is running thin.

To move further you need entire nations/companies going full Bitcoin - a massive shift.

Even if the ruble went to 0, it wouldn't necessarily mean that all Russians went Bitcoin or even most - most would likely buy land, stuff, food, gold and dollars above all.


Bitcoins world domination will come, but you really have to appreciate the scales, timeframes and consequences we dealing with now.