21 sats \ 2 replies \ @CarlBMenger OP 4h \ parent \ on: Falling down the Bitcoin rabbit hole. bitcoin
Yea, very popular because interest rates and thus monthly payments were substantially cheaper back then bc SNB tried to manipulate the upward pressure of the Suisse Franc to boost exports to the Euro Zone. SNB basically pegged the exchange rate at 1.20 for some time until it finally broke in Jan 2014.
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0 sats \ 1 reply \ @john_doe 4h
I didn't know, I thought the peg broke more recently, and I didn't know it was because of the SNB either. I checked the exchange rate chart just out of curiosity and I see that it was not in Jan 2014 but in Jan 2015, from 1.2 to 1.0 EUR/CHF.
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0 sats \ 0 replies \ @CarlBMenger OP 2h
Could be 2015 as well. Initially it dropped in seconds from 1.20 to 0.85 and rebounced afterwards.
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