Today it is Greece. Tomorrow it can be you. - page 4.

OROBTC

legendary

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Quote from: oblivi on July 06, 2015, 12:50:49 PM

The worst part hasn't happened yet. Now greece is all happy and dandy because the NO won. They think they are getting their sovereignty back, when anyone informed knows that haircuts will be coming, and once haircuts will be coming and you still cannot get your money out of the bank, now that is a whole new level of frustration. Having bought BTC at 1K will be nothing compared to that.

^^ This

It is not enough to save money in the bank, we now see all the risks, even if you are in a "developed country". 10 years ago, who would have thought that people could get "bailed-in"? The term, AFAIK, had not even been invented...

Nor is BTC enough by itself to be properly diversified. It is only smart to own some gold, keep some cash at home and own BTC.

And to pay attention to the news, and being prepared to act.

oblivi

hero member

Activity: 700

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The worst part hasn't happened yet. Now greece is all happy and dandy because the NO won. They think they are getting their sovereignty back, when anyone informed knows that haircuts will be coming, and once haircuts will be coming and you still cannot get your money out of the bank, now that is a whole new level of frustration. Having bought BTC at 1K will be nothing compared to that.

Herbert2020

legendary

Activity: 1946

Merit: 1137

that picture is indeed heart breaking. it makes you wonder if this situation can happen to you too especially if you are living in a developing country.

but i can not agree that bitcoin is the solution, and that it can solve Greek's problems.

scarsbergholden

hero member

Activity: 686

Merit: 500

Quote from: shanem on July 06, 2015, 09:15:28 AM

Putting your money in bank is also risky when bank limits withdrawal when the health of the bank or country is in trouble.
At least bitcoin is free and does not have any government intervention for now.

has time goes by and more people learn about security and how to keep your bitcoin save is most likely that bitcoin would become their savings account and bank just a tool in order to make a payment to a sector of the economy that has yet to upgrade to the bitcoin ecosystem.

shanem

legendary

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Putting your money in bank is also risky when bank limits withdrawal when the health of the bank or country is in trouble.
At least bitcoin is free and does not have any government intervention for now.

itsmeafridi3

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Wow this really shocked me . Hope it can be in my country tooooooooooo

Gyfts

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This was not a shock...this was expected. I'm sure many people knew Greece would default. It's not something that happens so quickly like "tomorrow" as you suggest. The less ignorant people prepared for what was to come and managed to secure their finances (partially).

lorylore

legendary

Activity: 1470

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I hear that in greece there were "people" with 100+ year that were receiving pension money.
It can be bitcoin after greece lol.
There will be always that someone will win and someother lose

BillyBobZorton

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Activity: 1204

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Quote from: alani123 on July 05, 2015, 05:47:51 PM

Do you people believe that bitcoin can replace FIAT currencies entirely in a country like Greece? Or do you see it as an alternative with possibilities of parallel use? I'm really curious to see what people rooting for bitcoin use in Greece actually believe in.

Bitcoin will be the alternative system to the convential fiat systems. People is too dumb to embrace Bitcoin in 2015 or any time soon. We'll need at least 20 years until a country goes full crypto, and by then people owning BTC since the begining will all be millionaires.

ThEmporium

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Quote from: pooya87 on July 06, 2015, 07:36:55 AM

this is why they say don't put all your eggs in one basket, especially if your country is financially unstable!

There is no eggs in the basket before that they can pull it as one, Greece into the crisis since the year 2009 and it's pegged down so worse that is unimaginable. I agree with your point that Bitcoin cannot be saviour for the Greece, they need to find out some other solutions.

Netnox

legendary

Activity: 2044

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OP why are you posting this in here, it doesn't really help the average greek, i mean here we all know about bitcoin already. You need to post this stuff where people aren't aware such innovation exists yet. People like those in the picture aren't really checking out this forum lol.

pooya87

legendary

Activity: 3472

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this is why they say don't put all your eggs in one basket, especially if your country is financially unstable!

i don't believe that it is bitcoin to the rescue for the Greeks and it can replace their fiat as many are saying, because simply bitcoin is not ready yet for that level of commitment.

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

Quote from: F.A. Hayek

I don't believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can't take them violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can't stop.

Source

d5000

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Activity: 3906

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Decentralization Maximalist

Quote from: alani123 on July 05, 2015, 06:49:57 PM

Aside of that, there were some false reports about Greeks rushing to buy bitcoin too, I don't know what level of fact checking those articles went though but since I'm Greek I know for a fact that this wasn't and still isn't true. It's true that the interest on it rose during the recent events but It's still not as significant as major news websites reported.

Good to read an opinion from a local!

Yes, there is much to do still ... usability and, above all, stability (lower volatility) are major issues. I am investigating ways to improve stability in cryptocurrencies, but it is not a trivial thing.

There are many things that can help improve stability: above all, a stable, long-term oriented reward system (where I see systems like Proof of Stake and Proof of Burn with an advantage over Bitcoin's PoW), and a stabie, not pump-and-dump-oriented community which really uses the currency, not only for trading.

alani123

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Leading Crypto Sports Betting & Casino Platform

Quote from: d5000 on July 05, 2015, 05:58:44 PM

Quote from: alani123 on July 05, 2015, 05:47:51 PM

Do you people believe that bitcoin can replace FIAT currencies entirely in a country like Greece? Or do you see it as an alternative with possibilities of parallel use? I'm really curious to see what people rooting for bitcoin use in Greece actually believe in.

I think Bitcoin can be part of a solution, but not the whole solution.

The most important thing is that the real economy finds ways to stabilize itself without depending on the traditional financial sectors.

There is a whole "kit" of things that you can do in this case. In Argentina, we had a similar situation in 2001. A barter circle system with an alternative currency, the "crédito" got momentum then and was a great ressource for people that lost their jobs or were otherwise in difficult situations. They were enabled to not suffer hunger participating in these circles.

Now we have a more secure, electronic system - cryptocurrencies - that can fill this niche in Greece.

Ι too believe that using cryptocurrencies as an alternative is more realistic. I was weirded out by some people in /r/bitcoin (and here too but not as much) that believed bitcoin could realistically replace FIAT in its entirety in Greece. I've used BTC since early 2013 and despite the fact that I believe in it's potential I still think that, for a plethora of reasons, bitcoin isn't a good replacement for FIAT and it can't replace the use of cash in an economy entirely. Furthermore, there's still work to be done to make cryptocurrencies ready for adoption. Greek pensioners are even having trouble with the simplistic online payment system for taxes and state payments.

Aside of that, there were some false reports about Greeks rushing to buy bitcoin too, I don't know what level of fact checking those articles went though but since I'm Greek I know for a fact that this wasn't and still isn't true. It's true that the interest on it rose during the recent events but It's still not as significant as major news websites reported.

d5000

legendary

Activity: 3906

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Decentralization Maximalist

Quote from: alani123 on July 05, 2015, 05:47:51 PM

Do you people believe that bitcoin can replace FIAT currencies entirely in a country like Greece? Or do you see it as an alternative with possibilities of parallel use? I'm really curious to see what people rooting for bitcoin use in Greece actually believe in.

I think Bitcoin can be part of a solution, but not the whole solution.

The most important thing is that the real economy finds ways to stabilize itself without depending on the traditional financial sectors.

There is a whole "kit" of things that you can do in this case. In Argentina, we had a similar situation in 2001. A barter circle system with an alternative currency, the "crédito" got momentum then and was a great ressource for people that lost their jobs or were otherwise in difficult situations. They were enabled to not suffer hunger participating in these circles.

Now we have a more secure, electronic system - cryptocurrencies - that can fill this niche in Greece.

alani123

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Activity: 2422

Merit: 1451

Leading Crypto Sports Betting & Casino Platform

Do you people believe that bitcoin can replace FIAT currencies entirely in a country like Greece? Or do you see it as an alternative with possibilities of parallel use? I'm really curious to see what people rooting for bitcoin use in Greece actually believe in.

ingiltere

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Activity: 2982

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As a Turkish citizen I've lived the economical crysis from mid 90's to mid 2000's. There was no Bitcoin back then.
After some development in country we kinda changed our money. We dropped 6 zeros from Turkish lira in 2005.

Bitcoin adoption in Greece is not a necessity. If someone says so; don't believe it.

scarsbergholden

hero member

Activity: 686

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So i managed to talk to a friend that has family in Greece and he's grandfather had a heat stroke just waiting in line from 5am to 3pm just to receive a number in order to get in the social pension office the next day. crazy stuff!

AtheistAKASaneBrain

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Quote from: nonbody on July 04, 2015, 05:41:49 PM

ok sounds good on the surface but what about those who dont have access to computers, although in this day and age its not common many people such as the eldery tend to stay away from computers.

All those old people are of course not going to do it themselves, they would rely on younger people in their families (sons or whatnot) that would help them to do it. The problem is most of young people are totally clueless about economics and dont know what Bitcoin is and why its important. As always, few will make it before it goes mainstream.

Topic: Today it is Greece. Tomorrow it can be you. - page 4. (Read 4077 times)