It could but it looks like the greek people are too dumb to use it.
Most guys there dont even use the internet, I saw about 40% of them dont. No offence but this is the truth guys.
Topic: Can bitcoin really save Greece? (Read 10414 times)
No it is impossible. Whether if adopted as a official currency of Greece and whether if will be used by people to convert their euros. Bitcoin cannot be currency of Greece because don't allow monetary policies. Then is in a few amount in circulation most of which is not owned by Greece (must be bought). Where to find the money to buy? While for the simple people first bitcoin is not know to much in Greece and second everyone who know bitcoin know that is to much volatile. This characteristic make this coin unreliable and Greeks will be reluctant in converting their savings in bitcoin.
I think so, probably due to the Greek financial when it was critical, which is why the Greeks can buy bitcoin by reason of their financial rescue
The main problem is that they don't have access to their own funds to buy bitcoins! And i don't think that any country would lend them for buying Bitcoins!
I think yes, Bitcoin can really save Greece.
I mean they are also adapting it.
Recently there was a news of installation of around 1000bitcoin atm, so it's a major step in Bitcoin adaption also.
I mean they are also adapting it.
Recently there was a news of installation of around 1000bitcoin atm, so it's a major step in Bitcoin adaption also.
I don't think Greece could afford to buy that much reserve capital of bitcoins in order to save themselves for anything, though if in a situation where they do, the value of bitcoin might multiply 55 times causing the value to boost super high. I am confused if that might be a good or a bad thing for Greece, but that would massively affect adoption and change bitcoin world forever
I think yes, Bitcoin can really save Greece.
I mean they are also adapting it.
Recently there was a news of installation of around 1000bitcoin atm, so it's a major step in Bitcoin adaption also.
I mean they are also adapting it.
Recently there was a news of installation of around 1000bitcoin atm, so it's a major step in Bitcoin adaption also.
Greece has a population of 11 million. Bitcoin can handle at most 500,000 transactions per day. This means if Greece adopts bitcoin then less than 5% of the Greek population can do a single transaction per day
Oh, you think they have enough money to buy capital reserve worth of bitcoins to keep it as their national currency? If you are not talking about Greece adopting bitcoin, what are you discussing if bitcoin can handle the Greece population? Bitcoin has the potential to handle half the world at the same time right now, and after more serious adoption, there will be better tech for better performance.
http://cointelegraph.com/news/115143/greece-to-receive-1000-bitcoin-atms-as-trust-in-banks-long-gone
Is it really happening ? even so that would not even effect the majority .
Is it really happening ? even so that would not even effect the majority .
Fortunately bitcoin came into handy for them to invest on it due to the uncertainty in Greece economy, If Greeks put their hard effort and sincerity they will definitely come out of this financial problems in a few years.
It is nothing to do with bitcoins and greece financial difficulties. If one do not want to work hard and expect more benefits from government then this situation will come sooner or later.
i guess this will work, but Greece would lose ability to control the stability of the currency.
simply, because the crypto coins are decentralised and nobody could control it unless 51% attacks.
Greece should adopt some of the alt coins as their national currency, by buying them in bulk.
and then, boom! that alt coin become higher than bitcoin! however, Greece cannot adopt bitcoin because it would crash numbers of computers with full node wallet, especially if the XT changed bitcoin.
yes, then they should use proof of stake coins, IIRC proof of stake system gives the fastest confirmation.
--non quote--
how could we synchronize 500,000 transaction per minute? anyone?
simply, because the crypto coins are decentralised and nobody could control it unless 51% attacks.
Greece should adopt some of the alt coins as their national currency, by buying them in bulk.
and then, boom! that alt coin become higher than bitcoin! however, Greece cannot adopt bitcoin because it would crash numbers of computers with full node wallet, especially if the XT changed bitcoin.
Greece has a population of 11 million. Bitcoin can handle at most 500,000 transactions per day. This means if Greece adopts bitcoin then less than 5% of the Greek population can do a single transaction per day
yes, then they should use proof of stake coins, IIRC proof of stake system gives the fastest confirmation.
--non quote--
how could we synchronize 500,000 transaction per minute? anyone?
Greece has a population of 11 million. Bitcoin can handle at most 500,000 transactions per day. This means if Greece adopts bitcoin then less than 5% of the Greek population can do a single transaction per day
well it's like they are going to spend bitcoin simultaneously, so i don't think your estimation is correct, also i'm sure that some "seconds" are less ful than other, if someone want to perform a spending he can choose a time of the day where there are less TX/sec
i think this should be integrate in the core, something that can tell you the TX per second in an exact moment, so we can distribute better the TX volume
Greece has a population of 11 million. Bitcoin can handle at most 500,000 transactions per day. This means if Greece adopts bitcoin then less than 5% of the Greek population can do a single transaction per day
It would be nice imagination. When only 1% from the greece population of 11 million would start to using bitcoin, then bitcoin would be unstoppable. The volume would be explode with over 100.000 more users.
Its amazing how people hype over greece with bitcoin.
But if the greece people arent using it and they dont show they care for it.. its a shame cause they could move their money around.
Even if Greece does not decide to go full Bitcoin the fact that it is being considered validates crypto currencies and their potential
I don't think it's being considered by any political party, all i've heard is some news headlines entertaining the idea and some diehad bitcoiners, not much more. Unfortunately we are way too ahead in the game for that. 
It would be nice imagination. When only 1% from the greece population of 11 million would start to using bitcoin, then bitcoin would be unstoppable. The volume would be explode with over 100.000 more users.
But for this the use must be much easier otherwise they would not accept it.
It would be nice imagination. When only 1% from the greece population of 11 million would start to using bitcoin, then bitcoin would be unstoppable. The volume would be explode with over 100.000 more users.
They can use their money to buy bitcoin which will save them
if their bank now removed the lock on the 60 euro they can, in the case the same thing will repeat, but they have now the money from the central bank, so i don't think they will care about bitcoin anymore
if they still have their 60 euro limit, they can buy some if they are not in big trouble and don't have family or whatsoever
I personally think the limit isnt really the issue, cause its the same thing as restricting everything pretty much.
Like imagine they have like 1,000 in the account how long would it take everyday to move that money. Its more of no choice options so they deal with it, and the money from the central bank doesnt help the situation of a possible depression.
The biggest problem is that they don't have that 1,000 in case the governments decides to take the money from everybody or in case they switch to useless Drachmas... They need control and a stable form of cash --> they withdraw as much as possible.
They can use their money to buy bitcoin which will save them
if their bank now removed the lock on the 60 euro they can, in the case the same thing will repeat, but they have now the money from the central bank, so i don't think they will care about bitcoin anymore
if they still have their 60 euro limit, they can buy some if they are not in big trouble and don't have family or whatsoever
I personally think the limit isnt really the issue, cause its the same thing as restricting everything pretty much.
Like imagine they have like 1,000 in the account how long would it take everyday to move that money. Its more of no choice options so they deal with it, and the money from the central bank doesnt help the situation of a possible depression.
No bitcon wont, but Germany surely will,they deserve it, all that is happening to them because didnt control their expences, for example every employee was taking 15th salary annually, on one work place in administration they had like 3 employees etc. this was a result of improper monetary working.
That is very true. Greece wants to keep the Euro.... so BTC does not really help there.
It's going to take a lot of money to help Greece, and I doubt people donate to Greece. It will take some countries near them to help. Some with deep deep pockets.
I dont think they`ll raise enough btc to even make any dent to their debt if they did.
Although btc can get a huge publicity though if there was a huge enough donations in the 1 millions on what btc can do that makes people turn into future buyers for us lol.
Fortunately bitcoin came into handy for them to invest on it due to the uncertainty in Greece economy, If Greeks put their hard effort and sincerity they will definitely come out of this financial problems in a few years.
im not sure since its a debatable topic, but some people in greece had very little effect on using it since they had a limit of $60.
and their bank accounts were frozen so they have no access to cash.. those who were fortunate to have money around on them probably were using bitcoin since western union closed down for entire week.
Jump to: