Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Fatman3001
on 19/02/2015, 21:03:03 UTC
I don't believe Cyprus had much direct effect on the BTC price. The idea that the Cyprus crisis was causing a price boost was mentioned in the news in the US and Europe, which generated some hype. Some Europeans bought bitcoins, but I don't think much of the buying actually came from Cyprus.

Bitcoin was new and exciting back then. I'm not convinced another financial crisis now would have a similar effect.

Anyone who thinks the average Cypriot read up on BTC and then bought in within the space of a few days is tripping their tits off. It was inspiration for existing believers to buy more and that's about it.

A lot of russian oligarchs had their money stashed away there. Serious amounts. And they know what BTC is.


http://www.independent.co.uk/news/world/europe/moscows-mafia-finds-an-island-in-the-sun-cyprus-is-awash-with-dubious-dollars-from-russia-robert-fisk-reports-from-limassol-on-the-visitors-with-private-jets-bulging-suitcases-and-a-reluctance-to-answer-questions-1381056.html

http://www.reuters.com/article/2013/05/15/us-cyprus-outflows-insight-idUSBRE94E0BN20130515

http://www.bbc.com/news/business-21831943

These people WOULD use BTC to GTFO.

only if they could actually get to the money... and in which case.... what would they need BTC for.

Get money out Cyprus....? These are not financial geniuses, they are crooks.

? what please explain what you mean.



If you've made your money by sending burly blokes to whoever is in your way, and buying off the rest; you might not be as put off by putting large sums into a ridiculously unstable asset to avoid some government to get their hands on them as someone who made their money through dedication and prudent investment. If they timed it wrong they would loose more by buying BTC than simply accepting the terms of the government, a prudent investor would see this. But some of the kinds of crooks that were hiding money in Cyprus would not think like this.