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Just because Cypress is going to shit doesn't mean that moving your money into BTC is an awesome idea.

• kragen 14y ago
  If your money is in Cypriot banks it's already too late, but it turns out in retrospect that it would have been an awesome idea a couple of weeks ago. Arguably nobody could have known that.
  • justincormack 14y ago
    It was fairly clear months ago that there would be depositor losses. The small amount of capital flight was surprising.
    • bitcartel 14y ago
      I don't think it was clear at all. 1) 18 months ago, banks in Cyprus passed EU bank stress tests. 2) The EU has a deposit guarantee. 3) The new Prime Minister was elected because he promised deposits would never be touched. 4) Other countries received bail-outs without affecting deposit holders. Given the above, I think it would be quite reasonable for an ordinary Cypriot to put faith in the EU and their elected government, and just get on with their lives.
      • arethuza 14y ago
        My understanding is that the EU itself does it guarantee bank deposits but rather it requires members states to have bank guarantee schemes.
        • deleted 14y ago
          [deleted]
    • SilasX 14y ago
      If it was obvious, why didn't that spark a run on the banks? Why did people seem to think their deposits were safe?