Topic: Can bitcoin really save Greece? - page 10. (Read 10440 times)
I think any greek guy hodling BTC is in a great position right now. He can buy stuff, he can make overseas transfer, can proberly sell BTC at overprice on Local bitcoins. Greek as a country switching to BTC is not an option, they need common accepted capita to do currency trade on the internatiol market.
Majority of Greeks are not familiar with bitcoin, although exchanges have seen more trades from Greece lately, but its very tiny.
Greeks who know about bitcoin are very small minority. Greeks who know about bitcoin and believe that bitcoin could save their economy are probably non existent.Why would Greece gravitate towards bitcoin when they have EURO? If they still had Drahma, their old currency Bitcoin could be the cure for them. But Euro won't collapse that easily.
is most likely the tech savvy will be taking advance of the none ones, greece has about 11 million in total population lets say 1% knows about bitcoin thats just about 110,000 people that know about bitcoin right now thats if its 1%.
obviously not for the reasons already given, but it amazes me that greeks have had a year to withdraw their euros and do something with them but instead most did nothing and left them in banks. enjoy having your life savings redenominated in a devalued drachma.
Majority of Greeks are not familiar with bitcoin, although exchanges have seen more trades from Greece lately, but its very tiny.
Greeks who know about bitcoin are very small minority. Greeks who know about bitcoin and believe that bitcoin could save their economy are probably non existent.Why would Greece gravitate towards bitcoin when they have EURO? If they still had Drahma, their old currency Bitcoin could be the cure for them. But Euro won't collapse that easily.
Majority of Greeks are not familiar with bitcoin, although exchanges have seen more trades from Greece lately, but its very tiny.
One needs to have realistic expectations. As a monetary system, bitcoin has only been around since 2009.
Not at all,Bitcoin can't save any country,and Greece will explode sooner or later
Quote
Can bitcoin really save Greece?
No.
Can Bitcoin save individual, self-interested Greek citizens?
Sure.
most likely individual that already hold bitcoin in greece most feel so good about their investment and not being handle by the banking restrictions like how the normal people are, i'm the experiences of some of this bitcoin holders in Greece will pass along them.
4B is a tiny amount for saving someone especially a whole country, bitcoin still look like not a serious asset with that marketcap, add a 2-3 zeroes and it may be used to save a country, but right now, there is no advantage for anyone to go with BTC
also they are too accustomed in printing money, and they cannot do the same with btc, from where they will get new money when all the btc that they possess will be distributed?
also they are too accustomed in printing money, and they cannot do the same with btc, from where they will get new money when all the btc that they possess will be distributed?
Quote
Can bitcoin really save Greece?
No.
Can Bitcoin save individual, self-interested Greek citizens?
Sure.
Well the answer is yes and no. You would have to define the word save in this case.
In one hand, using Bitcoin can save anyone (including Greeks) from the banking system and capital controls (obviously if you withdrew before).
In the other hand, Bitcoin can not solve the problems of Greece (it's economy and whatnot).
In one hand, using Bitcoin can save anyone (including Greeks) from the banking system and capital controls (obviously if you withdrew before).
In the other hand, Bitcoin can not solve the problems of Greece (it's economy and whatnot).
I think it could help in certain ways, but it's not guaranteed to 'save them' as bitcoin is probably just as risky as their fiat is now.
Not if the price plummets... though I think if a country mass adopted bitcoin the price would only continue to rise.
If they'd switch to btc - then there would be no problems with protecting their savings.
Not if the price plummets... though I think if a country mass adopted bitcoin the price would only continue to rise.
There was a program by Max Keiser at the Keiser Report that addressed exactly this topic, it's worth checking out. It's from a couple months ago but still very relevant:
https://www.youtube.com/watch?v=3s7UVY5yv7Y
https://www.youtube.com/watch?v=3s7UVY5yv7Y
bitcoin is not going to save Greece.
bitcoin is just a way for the people to save their money's worth and also keep their own money in their own hands and not in the banks being controlled by their government.
bitcoin is just a way for the people to save their money's worth and also keep their own money in their own hands and not in the banks being controlled by their government.
The conclusion is saving individuals and not the whole country.
bitcoin is not going to save Greece.
bitcoin is just a way for the people to save their money's worth and also keep their own money in their own hands and not in the banks being controlled by their government.
bitcoin is just a way for the people to save their money's worth and also keep their own money in their own hands and not in the banks being controlled by their government.
No, changing the currency will do nothing for the nation. It might have helped individuals who were wise enough a few weeks ago to switch, but imo it is far too late for that sort of thing. Their money is locked down in the banking system, so at this point the only thing that will help them is a solution. But nobody can agree on what needs to be done, so the crap will hit the fan soon.
It can change some individuals but not a whole country.
No, changing the currency will do nothing for the nation. It might have helped individuals who were wise enough a few weeks ago to switch, but imo it is far too late for that sort of thing. Their money is locked down in the banking system, so at this point the only thing that will help them is a solution. But nobody can agree on what needs to be done, so the crap will hit the fan soon.
Bitcoin can save individual Greeks, but not the nation as a whole, not without a lot of development work on bitcoin for scalability, etc. And the clock has run out for that, so far as Greece is concerned.
Edit: Meghan McArdle's recent article on Greece makes a good point: No choice of currency can save a country if it keeps making poor choices and is fiscally irresponsible. Greece would be a basket case whether it was on the gold standard, Euro, bitcoin, or bonga-bonga shells because of the leadership it has had. Conversely, a firm and fiscally responsible government could keep its economy on a sound footing using anything with the right characteristics (scarcity, fungibility, etc.) as currency.
http://www.bloombergview.com/articles/2015-06-29/the-moral-of-the-greek-story
Edit: Meghan McArdle's recent article on Greece makes a good point: No choice of currency can save a country if it keeps making poor choices and is fiscally irresponsible. Greece would be a basket case whether it was on the gold standard, Euro, bitcoin, or bonga-bonga shells because of the leadership it has had. Conversely, a firm and fiscally responsible government could keep its economy on a sound footing using anything with the right characteristics (scarcity, fungibility, etc.) as currency.
http://www.bloombergview.com/articles/2015-06-29/the-moral-of-the-greek-story
And how is a country supposed to just up and switch one day to using Bitcoin? It's very far off (if ever) what you are suggesting. At most, Bitcoin will help the few there who already knew about it - by not having their money locked in the bank. The People wouldn't know or care what you're talking about.
There are serious capital controls[/url] implemented in Greece right now:
You can only withdraw €60 from your bank account in one day, and no overseas transfers.
That's insane!
If they'd switch to btc - then there would be no problems with protecting their savings.
I mean, blockchain can't just close and say 'oh no, we aren't working today - come tomorrow' like banks in Greece currently do.
You can only withdraw €60 from your bank account in one day, and no overseas transfers.
That's insane!
If they'd switch to btc - then there would be no problems with protecting their savings.
I mean, blockchain can't just close and say 'oh no, we aren't working today - come tomorrow' like banks in Greece currently do.
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