Topic: Today it is Greece. Tomorrow it can be you. - page 5. (Read 4084 times)

Don't you think there is a moral hazard involved?
If people help Greece now, other countries could be tempted to binge on debt, because there is no downside. In case of a crisis like this, they might think people will bail them out.

My heart wrenches at the picture of the elderly losing hope and feeling despondent. At this moment I strongly feel that people across the globe should at least take this up as a humanitarian cause and help in some way or the other. Powerful countries should get together and unitedly help them steady their economy. Perhaps also help them get access to Bitcoin too.

I ponder about this kind of situation, as I am living in an economically fragile country (Iran). Our country's politics has taken it far in the sanctions road and international money transfer is a nightmare. Bitcoin seems the solution, but there are some problems in that field as well.

If Bitcoin wants to go mainstream in a nation, the buying side is too powerful compared to the selling side. Everybody buys Bitcoin as a store of value and nobody sells. The country MUST have a mining operation running to facilitate IRR <-> BTC conversions. If the country doesn't have Bitcoin generated in IRR (national currency), then the exchange has to be IRR <-> USD <-> BTC which renders the whole thing useless, as USD can be used as a store of value.

Picture showing up just fine for me.

Also agree this is quite the moving banner.  Image of a Greek citizen obviously of retirement age literally at wits end.  How can one help but feel for the people of Greece with this kind of imagery.

I saw the Greece ATM picture on Reddit earlier, a very sorry sight for sure.

The situation over there (and potentially for what looms for other nations) is terrible, but I can hardly imagine citizens attempting to buy Bitcoin with their Euros. Surely it is getting access to the funds which is the problem in the first place.

Also I don't think that I would want to secure the majority of my wealth in Bitcoin, to even invest a significant portion I would need to full understand how I would go about procuring coin, and ensuring its safe deposit.

The fact that governments and banks allow for things like this to even come about is awful.

Venezuelan here.

My country has had capital controls since 2002. Buying outside our country is a nightmare. You can get prosecuted for simple things like buying gift cards with penalties such as removing FOR LIFE your annual quota of a paltry $300 on credit cards. You can't use any other means to buy goods or pay services besides credit cards. The dollar has been pegged to a crazy 6.3 VEF/USD since some years ago (up from another crazier 4.3 VEF/USD).

Since half a year ago, i've kept ALL MY WEALTH in Bitcoin... yes ALL. Every single VEF i get, after buying food, gets converted to Bitcoin immediatly.

Not Dollars.

Not Euros.

Not GBP.

Bitcoin.

I have almost triplicated my wealth since i made that move. When the black market exchange rate was 150 VEF/USD, i held Bitcoin. Some weeks ago the black market exchange went to ~450 VEF/USD. Guess what, i feel like a rich man. I can maintain my WHOLE FAMILY OF 5 (food, basic services, debt) with just .3 BTC/month. The rest gets stashed away.

Also, i began mining. 1 Antminer S5 gives me, after electricity costs (which are almost non-existent, electricity cost here is a joke) the same wage my wife and i earn (we're both engineers) TWICE a month.

Your government will do stupid things, i guarantee it. Don't trust a single drachma/euro to them. If you want to hedge, use something like Bitreserve, but believe me, wild price swings aren't that important dealing with Bitcoin when your other alternative is a highly manipulable, fractional-reserve backed, fiat money.

If you want more specifics, pm me.

The Greek ppl are suffering this kind of problem. For us outside Greece, it is a hard lessson for us! It is time to switch a portion of money to crypto!

people should never invest the majority of their wealth in anything. 10% of your total balance for investing is more than enough. especially when it comes to highly volatile investments as bitcoin.

what? is this even an excuse? you have mobile phone, public desktop ecc..., even with a 56kbps you can run the client, all others belong to a minority, you can not please everyone... you know

@OP i like how you are advertising 100bit.co, that exchange is great and more anon than localbitcoin, it should be definitely used more

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.

Picture showing up just fine for me.

Also agree this is quite the moving banner.  Image of a Greek citizen obviously of retirement age literally at wits end.  How can one help but feel for the people of Greece with this kind of imagery.

What is the problem? I cannot see the picture on the OP.

people should never invest the majority of their wealth in anything. 10% of your total balance for investing is more than enough. especially when it comes to highly volatile investments as bitcoin.