This is pure fantasy since I know there is no chance it would ever happen, but I (as well as others) like to fantasize because it's fun and makes us feel good.
Besides, I'm bored and have a few minutes to waste.
Building on this thread:
https://bitcointalksearch.org/topic/greece-to-adopt-bitcoin-as-currency-1009415I wonder, what
would actually happen if Greece does indeed exit the Euro and decides to adopt Bitcoin as it's national currency. Here's my take on it.
For starters the Greek exit alone would cause a price rise in Bitcoin, Gold, and the altcoin markets. The Euro will drop and the US dollar will follow.
Then when Greece announces it is going to use Bitcoin there will be a massive surge in Bitcoin's price. Up to the 10's of thousands of US dollars. Not only because (Bitcoins) become more valued, but also because the US dollar and Euro have lost value. The Greek citizens would have the strongest currency (in regards to buying power) in the world. Outstanding debts would be paid off almost effortlessly. Assuming of course that the government and citizens began to buy Bitcoin in the months prior to these events. Within a year Greece would probably be the most prosperous nation in the world. Other Euro nations may follow and drive Bitcoin's price even higher. The US dollar and Euro would suffer tremendously.
Greece would basically be at the epicenter of crypto-currency. Most Bitcoin business would probably move and setup in Greece. We would see a whole new multitude of Bitcoin based services operating out of Greece with the government's blessing.
Nice right? but yeah, I see the problems that would prevent such a thing from happening. First of all, Greece would need to be able to buy Bitcoins in order to have a reserve supply. I don't expect a government will simply adopt a currency without holding a major supply of it. Greece is broke, so I don't see it being able to buy enough Bitcoins.
This is why it would make sense for Greece to adopt a low valued Altcoin (or create one). It could buy up most of the supply of the selected altcoin and use that instead. This would be the intelligent option and would have the same effect as if using Bitcoin. Whatever they choose, Bitcoin would still benefit.
Anyways, I'm just some dude posting on a forum having fun fantasizing about stuff that may not happen. Would love to hear your thoughts on the subject.
Take a moment and fantasize...