If Greece defaults - page 30. | Bitcointalksearch.org

Natalia_AnatolioPAMM

full member

Activity: 280

Merit: 100

Quote from: NeuroticFish on April 08, 2015, 02:48:54 AM

Quote from: JackH on April 07, 2015, 01:55:01 PM

We have €448m to the International Monetary Fund is due this Thursday (April 9th).

Then we have public sector wages and pensions, €1.7b in social security payments made by the state (April 14th).

Then we have a €200m loan repayment to the IMF (May 1st).

Now correct me if I am wrong, but if Greece cant pay any of these 3 bills we are talking about the first "western modern" country to be technically in default. If they resort back to the Drachma, it will be one of the most worthless currencies on the planet.

What I cant really figure out is the outcome, both worldwide financially against the Euro, and obviously against Bitcoin. Will we see BTC as safe heaven? Something tells me only a little, because the average Greek is not highly IT literate, but I could be wrong here.

Give me your thoughts people, as this goes down in about 3 days from now!

Actually Greece will not default. Politicians will find a solution again to give Greece more money.
Right now Greece plays hard, having discussions with China and Russia. This way they will either force EU to be more "merciful" with them, either will get a loan from China giving them something EU will not like.

And i guess the thing with china is more likely to happen

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: JackH on April 07, 2015, 01:55:01 PM

We have €448m to the International Monetary Fund is due this Thursday (April 9th).

Then we have public sector wages and pensions, €1.7b in social security payments made by the state (April 14th).

Then we have a €200m loan repayment to the IMF (May 1st).

Now correct me if I am wrong, but if Greece cant pay any of these 3 bills we are talking about the first "western modern" country to be technically in default. If they resort back to the Drachma, it will be one of the most worthless currencies on the planet.

What I cant really figure out is the outcome, both worldwide financially against the Euro, and obviously against Bitcoin. Will we see BTC as safe heaven? Something tells me only a little, because the average Greek is not highly IT literate, but I could be wrong here.

Give me your thoughts people, as this goes down in about 3 days from now!

Actually Greece will not default. Politicians will find a solution again to give Greece more money.
Right now Greece plays hard, having discussions with China and Russia. This way they will either force EU to be more "merciful" with them, either will get a loan from China giving them something EU will not like.

Undermood

legendary

Activity: 950

Merit: 1000

Quote from: NUFCrichard on April 08, 2015, 02:06:42 AM

Quote from: BitcoinChica on April 07, 2015, 03:33:30 PM

I am not sure if so called safehavens like bitcoin will respond much to isolated geopolitical events at this point.

I don't even agree that bitcoin trades as a safehaven! Gold and silver do, but bitcoin doesn't track with them.
Greece will default, it is just a matter of when, they have too much debt and it is impossible for them to pay.

Leaving the € is the answer, it is also obvious that it is the answer, but they don't want to do it, so they have to play this stupid game of kick the can down the road, until someone mans up and makes them leave.

ECB and IMF isnot possible to infinitely extend or issue loans to Greece. I think Greece have no chance of paying up the mounting loan and have to default otherwise the Eurosone will be drawn down! The lenders have to admit the loss and not to give the hope to them.Greece is under too much burden and has to find a way to recover!

NUFCrichard

legendary

Activity: 1218

Merit: 1003

Quote from: BitcoinChica on April 07, 2015, 03:33:30 PM

I am not sure if so called safehavens like bitcoin will respond much to isolated geopolitical events at this point.

I don't even agree that bitcoin trades as a safehaven! Gold and silver do, but bitcoin doesn't track with them.
Greece will default, it is just a matter of when, they have too much debt and it is impossible for them to pay.

Leaving the € is the answer, it is also obvious that it is the answer, but they don't want to do it, so they have to play this stupid game of kick the can down the road, until someone mans up and makes them leave.

JackH

sr. member

Activity: 381

Merit: 255

Quote from: medUSA on April 07, 2015, 04:09:05 PM

In my view, Greece has technically defaulted by applying for an extension. Greece's economic reforms aren't very effective but I believe Greece will not default. They will repay however much they had and apply for another extension or issue new loans for the remaining debt. Eurozone will be lenient on them to avoid calamity. Bitcoin is not going to be a safe heaven for the Greeks. They already hold Euros and it is still a stable currency compared to Bitcoin.

I would not be so sure of the repayment. I mean, repaying the fist part is possible, but I dont even think they are capable financially of repaying the second part though. In a way it seems more sane to let them go, but at the same time that sounds chaotic and insane.

Going to be an interesting week for certain.

medUSA

legendary

Activity: 952

Merit: 1005

--Signature Designs-- http://bit.ly/1Pjbx77

In my view, Greece has technically defaulted by applying for an extension. Greece's economic reforms aren't very effective but I believe Greece will not default. They will repay however much they had and apply for another extension or issue new loans for the remaining debt. Eurozone will be lenient on them to avoid calamity. Bitcoin is not going to be a safe heaven for the Greeks. They already hold Euros and it is still a stable currency compared to Bitcoin.

BitcoinChica

newbie

Activity: 10

Merit: 0

I am not sure if so called safehavens like bitcoin will respond much to isolated geopolitical events at this point.

Meuh6879

legendary

Activity: 1512

Merit: 1012

they can sold gold for bitcoins. Grin

a good deal ? Yes ... the time is with you, little grexit. Cheesy

alani123

legendary

Activity: 2422

Merit: 1451

Leading Crypto Sports Betting & Casino Platform

I think that media tend to over dramatise some topics. Greece won't default and bitcoin won't be the national currency of the country.

The 2013 "bitcoin boom" in Cyprus was a great example of the media exaggerating.

JackH

sr. member

Activity: 381

Merit: 255

We have €448m to the International Monetary Fund is due this Thursday (April 9th).

Then we have public sector wages and pensions, €1.7b in social security payments made by the state (April 14th).

Then we have a €200m loan repayment to the IMF (May 1st).

Now correct me if I am wrong, but if Greece cant pay any of these 3 bills we are talking about the first "western modern" country to be technically in default. If they resort back to the Drachma, it will be one of the most worthless currencies on the planet.

What I cant really figure out is the outcome, both worldwide financially against the Euro, and obviously against Bitcoin. Will we see BTC as safe heaven? Something tells me only a little, because the average Greek is not highly IT literate, but I could be wrong here.

Give me your thoughts people, as this goes down in about 3 days from now!

Topic: If Greece defaults - page 30. (Read 45250 times)