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Showing posts from November, 2015
You missed a big news - ECB negative interest
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Everybody is looking to black friday shit campaign but in fact the BTC price will be moved by the latest announcement of ECB that is applying negative interest to retail banking. Germany, Switzerland, Sweden, Denmark and others already start charging for your bank deposits even a -0.75% interest rate! This will have soon a domino effect on all prices. Corroborate that with the fact that now cash is going to be banned in all countries and you have the puzzle... You are pushed to put your money in a bank and in the same time they charge you for that. And soon you will not be able to withdraw your money. Remember that real interest rates are already negative on cash at banks. Inflation is 1-2% using governments own figures, so if you don't earn that on your cash you are already paying the government for banks to hold your funds. I hope the impending explicitly negative rates will wake some people up to the implicitly negative rates they've been enduring their whole lives...
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