Quote from: protokol on July 16, 2016, 12:09:51 AM

Quote from: The Pharmacist on July 15, 2016, 11:45:20 PM

Quote from: quake313 on July 15, 2016, 09:36:14 PM

Bitcoin don't seem to care about the coup attempt in Turkey either...

Why would it care? Why would any world news affect the price of bitcoin? Bitcoin isn't a safe-haven asset. Look at the price today compared to two months ago--we went from 420 to over 700 very quickly, and that isn't safe. It could easily have gone the other way. Besides, everyone knows what gold is and have a good idea that it's a place to park money in turbulent times. Not a hell of a lot of people know or care about bitcoin. And most of the ones who do are smoking cigarettes in the dark.

In terms of "safe-haven assets", your points are valid.

However, a general de-stabilisation of governments and/or currency could easily have a positive effect on Bitcoin value. One historical example of this would be Cyprus - I doubt many Cypriots were actually transferring their wealth into Bitcoin, but the idea that an unstable economy could confiscate its citizens funds resulted globally in other people pushing the price up.

And with a country like Turkey, NATO member and land-link to the turbulent Middle East, things could cause more of a dynamic.

Wars, social instability, plagues. If it hurts mankind, it's good for bitcoin.
Somebody on /r/bitcoin is already trying to get people in Turkey to buy some. Not kidding.
"It's 2 am. My country is in the midst of a military coup. Social media is blocked.
Think I'll browse /r/bitcoin and see if some dude there could give me some valuable advice re. my current predicament. Links to the bitcoin wiki and exchanges would be super helpful..."