-I was trying to buy something online (costing just 2-3$) with my greek visa, and the charge was getting rejected.
-Gas stations take only cash.
-Suppliers of stuff, take only cash as they are afraid of the consequences of accepting digital payments, and with that I include bank payments (they are afraid they will not be able to withdraw it, or their money could be bailed-in / converted to drachma etc etc).
There is in a sense a fungibility issue with the euro in Greece right now. Digital euros / bank euros "suck" as they are useless to transact. Cash euro is what counts for most people, even companies.
Times like these, you *realize*, not theoretically, but by living it, that you wouldn't trade your crypto for fiat and that crypto is immensely more useful (ie you can actually transact, when with digital cash / banks / cards etc you can't).
The sense of value increases in a way that is unexpected: I wouldn't trade a single BTC even if I was offered >1000 euro in the bank in these conditions. The euros in the bank are useless.
Does this mean that online merchants in Greece are effectively bankrupt?
Doing business online is supposed to save governments money. Making digital money worthless is just another nail in the economic coffin.
All these discussions about Greek debt make me think of issues you hear about pay-day lenders. The interest rates are far lower, but the issues are the same.
Something you did actually hear, here first:
In the midst of the ongoing financial crisis, Greece has stopped online payment transactions from going ahead using Greek debit or credit cards.
http://www.foxnews.com/tech/2015/06/30/online-payments-halted-in-greece-citizens-eye-bitcoin-to-protect-savings/This is big news for Bitcoin / DASH if they can jump in and fill the gap quickly. No time to waste, just throw these people a lifeline and they will be with you forever.
