GaliX
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


1NtkLdA98eGnsn8nEKpBGRd2VYGNBkGzd6


View Profile WWW Personal Message (Offline)

Ignore
February 12, 2015, 02:53:06 AM

BJA is not far off.

Grexit, according to many respected analysts is looking a 50/50 bet right now.

The turmoil and uncertainty in the whole Euro experiment this will cause (and uncertainty worldwide) is already being factored in by smart money.

If any capital flight was likely to benefit BTC we would already be seeing it.

If your banks were about to potentially collapse, or your capital was at risk from your country's banks possible liquidity crisis, wouldn't you already be looking for ways to keep it safe, or at least move it?

The money is already nervous.  Bullish as I am (long term) I don't see evidence growing that BTC will be the beneficiary of this crisis.

When Cyprus happened, BTC had not lost so much value and had so many scams tarnish it.  

When Greece happens, if it does - the money will not take more risk, it is already seeking safety.  And right now, this is not what BTC appears to offer.


well BTC can't be printed out and is not controlled by Governments or anybody. If you just take these aspects it's fucking damn safe. Even the Gold-Market is super manipulated. There is much much more Gold traded on exchanges then ever mined. If you just see it from a price perspective, yes Gold is the better option over Bitcoin.


But the Greece situation is much bigger. It's likely the Euro will collapse as a whole if Greece leaves the Euro. Bank are leveraged 3-5% and they could lose these 3-5% over night. On top there will be a Bank run and since all the Banks are connected it will have a cascading effect. The hole Banking sector worldwide will likely burn if Greece is finally viewed as Bankrupted.

Ireland already said, they want the same deal as Greece. So there you have your second fire burning if Greece leaves and goes bankrupt. Italy and Spain are also running towards an end of the current suppression politics.


I am telling your, once there is a real Bankrun in Greece it's going to cascade fast and Banks will be closed with a lot of money lost by the customers. (fractional reserve endtimes)
It doesn't matter where you have your Bank account in Europ your money will be in dangerous if this hole thing gets rolling.

On top I don't think Grexit is a 50/50 bet. He clearly said no more fishy deals. They don't want any money from the EU or anybody anymore. Either they accept that Greece is Bankrupt and help them or they leave the Euro.