Topic: Yanis-Varoufakis-Greece, Bitcoin WILL save them from Europe. It won't be pretty. - page 3. (Read 6213 times)
February 20, 2015, 02:00:28 PM
He is smart but he is very disliked by many of the people he is dealing with, maybe in purpose.
February 20, 2015, 01:03:51 PM
...
The future, at least short-term, does not look good under any scenario for Greece. Greece produces very few things that people in other countries want or need. Adding value is the key to gaining wealth: if you do not produce something (or otherwise add value), no one else will pay you.
I do not see how Greece resolves this either by going further into debt (troika's solution) or by "Grexiting" and starting over with the Drachma. Greece's problems are structural, and will take a long time to resolve even if they choose wise policies (which they may not).
A Bitcoin currency does not resolve Greece.
The future, at least short-term, does not look good under any scenario for Greece. Greece produces very few things that people in other countries want or need. Adding value is the key to gaining wealth: if you do not produce something (or otherwise add value), no one else will pay you.
I do not see how Greece resolves this either by going further into debt (troika's solution) or by "Grexiting" and starting over with the Drachma. Greece's problems are structural, and will take a long time to resolve even if they choose wise policies (which they may not).
A Bitcoin currency does not resolve Greece.
February 20, 2015, 12:12:24 PM
Quote
The responses of many to my post on Bitcoin reveal a powerful tendency to underestimate the ill-effects of deflation on a social economy.
Quite the contrary - everybody understands the effects of deflation on a social economy.The "social" economy is the poison for which deflation is the cure.
February 20, 2015, 12:05:42 PM
greece has to leave. now or in the next years. take a look in the history books.
February 20, 2015, 11:59:42 AM
No short term good will come from Greece exiting the euro. This process would severely hurt the people of Greece who would no longer afford many basic imports.
Bitcoin can save Greece, Europe, or any country who implements the block chain at the government level so citizens can track where all the wasted tax money flows. Only then can politicians be held accountable for their actions.
Bitcoin can save Greece, Europe, or any country who implements the block chain at the government level so citizens can track where all the wasted tax money flows. Only then can politicians be held accountable for their actions.
February 20, 2015, 11:49:04 AM
It's a good idea if they can start off with Greece and if it becomes successful will soon becomes something which others countries can follow.
February 20, 2015, 11:32:13 AM
So, if it catches on as a proper currency, rather than as a store of value, then, by definition, the rate of increase in the quantity of goods and services purchased will outpace the rate of increase in the supply of Bitcoins. Thus, the available quantity of Bitcoins per each unit of output will be falling causing deflation. And why is this a problem? Because even if all prices fall at once, people’s debt will not and a chain reaction of insolvencies will hit us, causing the worst fate of any market economy: Debt Deflation. Think Great Depression here in the United States, or Greece today
The more the thieves and parasites hate on Bitcoin, the more we know it's the right solution.Bitcoiners be all, "I reject your debt based capitalism, and substitute my own."
February 20, 2015, 10:49:51 AM
Varoufakis is delusional. There's no way they are going to intimidate the Troika. Plus there is legit debt that they owe to them, not all is scam debt.
hi manselr!
maybe 'ru german?
German or not he is right tho.
Varoufakis either accepts the Troika's conditions for the plan or not. If they don't then they'll have to abandon Euro.
February 20, 2015, 10:31:10 AM
BITCOIN: A flawed currency blueprint with a potentially useful application for the Eurozone
The responses of many to my post on Bitcoin reveal a powerful tendency to underestimate the ill-effects of deflation on a social economy. This tendency to underestimate deflation’s deleterious impact matters beyond debates on Bitcoin per se.
http://yanisvaroufakis.eu/2014/02/15/bitcoin-a-flawed-currency-blueprint-with-a-potentially-useful-application-for-the-eurozone/
The responses of many to my post on Bitcoin reveal a powerful tendency to underestimate the ill-effects of deflation on a social economy. This tendency to underestimate deflation’s deleterious impact matters beyond debates on Bitcoin per se.
http://yanisvaroufakis.eu/2014/02/15/bitcoin-a-flawed-currency-blueprint-with-a-potentially-useful-application-for-the-eurozone/
February 19, 2015, 06:34:45 PM
Just created #SupportGreeceBuyBitcoin on twitter
February 12, 2015, 05:50:03 AM
This picture is from 1953 when the greek prime minister Mr Karamnlis sign the 50 % haircut of German loan . Greece was one of many countries that Germany has debt with them.
correct!!!
and thanks for the clarification!!!
...iforgot to mention this important detail!
February 11, 2015, 07:11:06 PM
The logic of his views are flawed, but I doubt he'll change his mind, a hacker can break into your PC and steal Govt issued funds.
As for Bitcoin's 'value' being too small, that would massively increase if a nation adopted it because Bitcoin, unlike Govt issued fiat is a truly limited commodity, greater adoption would by definition increase it's inherent value.
I'd rather trust Cryptography than fiat issued by any politician, except maybe Ron Paul.
As for Bitcoin's 'value' being too small, that would massively increase if a nation adopted it because Bitcoin, unlike Govt issued fiat is a truly limited commodity, greater adoption would by definition increase it's inherent value.
I'd rather trust Cryptography than fiat issued by any politician, except maybe Ron Paul.
February 11, 2015, 07:07:41 PM
Im extremely interested in the outcome of Greece, i'll listen to this later. But in any case I dont see them making Bitcoin the official Greece coin so to speak. People is too dumb to adapt all of a sudden to Bitcoin. Its too crazy and experimental to make it the currency of an entire nation.
Then again they are in a dead end on the 28th, unless they arrive at agreement with Merkel which is not gonna happen.
Then again they are in a dead end on the 28th, unless they arrive at agreement with Merkel which is not gonna happen.
I'm also very interested what will happen in Greece.
I don't think that thy can simple change Euro with bitcoin and that this will fix all their financial problems.
Nobody will forgive them their financial debts and I don't think that EU will ever accept repayments in BTC instead of Euro
BTC can be good solution for them if they ever decide to give up from Euro but until they resolve this financial situation this is not possible.
i agree with you!!!
for sure, they cannot simple change Euro with bitcoin and and fix all their financial problems.
but i agree with varoufakis...
why germat, after second world war, get a 50% disocunt on debit war...
which is more serious...
and greek cannot???
really strange!
from wiki
"The total under negotiation was 16 billion marks of debt resulting from the Treaty of Versailles after World War I which had not been paid in the 1930s, but which Germany decided to repay to restore its reputation. This money was owed to government and private banks in the U.S., France and Britain. Another 16 billion marks represented postwar loans by the U.S. Under the London Debts Agreement of 1953, the repayable amount was reduced by 50% to about 15 billion marks and stretched out over 30 years, and compared to the fast-growing German economy were of minor impact.[2]"
This picture is from 1953 when the greek prime minister Mr Karamnlis sign the 50 % haircut of German loan . Greece was one of many countries that Germany has debt with them.
February 11, 2015, 04:05:22 PM
Varoufakis is delusional. There's no way they are going to intimidate the Troika. Plus there is legit debt that they owe to them, not all is scam debt.
hi manselr!
maybe 'ru german?
February 11, 2015, 10:56:12 AM
Varoufakis is delusional. There's no way they are going to intimidate the Troika. Plus there is legit debt that they owe to them, not all is scam debt.
February 11, 2015, 07:34:52 AM
Im extremely interested in the outcome of Greece, i'll listen to this later. But in any case I dont see them making Bitcoin the official Greece coin so to speak. People is too dumb to adapt all of a sudden to Bitcoin. Its too crazy and experimental to make it the currency of an entire nation.
Then again they are in a dead end on the 28th, unless they arrive at agreement with Merkel which is not gonna happen.
Then again they are in a dead end on the 28th, unless they arrive at agreement with Merkel which is not gonna happen.
I'm also very interested what will happen in Greece.
I don't think that thy can simple change Euro with bitcoin and that this will fix all their financial problems.
Nobody will forgive them their financial debts and I don't think that EU will ever accept repayments in BTC instead of Euro
BTC can be good solution for them if they ever decide to give up from Euro but until they resolve this financial situation this is not possible.
i agree with you!!!
for sure, they cannot simple change Euro with bitcoin and and fix all their financial problems.
but i agree with varoufakis...
why germat, after second world war, get a 50% disocunt on debit war...
which is more serious...
and greek cannot???
really strange!
from wiki
"The total under negotiation was 16 billion marks of debt resulting from the Treaty of Versailles after World War I which had not been paid in the 1930s, but which Germany decided to repay to restore its reputation. This money was owed to government and private banks in the U.S., France and Britain. Another 16 billion marks represented postwar loans by the U.S. Under the London Debts Agreement of 1953, the repayable amount was reduced by 50% to about 15 billion marks and stretched out over 30 years, and compared to the fast-growing German economy were of minor impact.[2]"
February 11, 2015, 05:33:07 AM
Im extremely interested in the outcome of Greece, i'll listen to this later. But in any case I dont see them making Bitcoin the official Greece coin so to speak. People is too dumb to adapt all of a sudden to Bitcoin. Its too crazy and experimental to make it the currency of an entire nation.
Then again they are in a dead end on the 28th, unless they arrive at agreement with Merkel which is not gonna happen.
Then again they are in a dead end on the 28th, unless they arrive at agreement with Merkel which is not gonna happen.
I'm also very interested what will happen in Greece.
I don't think that thy can simple change Euro with bitcoin and that this will fix all their financial problems.
Nobody will forgive them their financial debts and I don't think that EU will ever accept repayments in BTC instead of Euro
BTC can be good solution for them if they ever decide to give up from Euro but until they resolve this financial situation this is not possible.
February 11, 2015, 12:15:23 AM
Has there been any talk within the EU about boosting Greece's manufacturing or science industry? Why would the EU not give tax breaks or credits to companies to open facilities in Greece where the level of education is quite high amongst the unemployed and underemployed?
When you look at arguments and points like this it does really only point the fact the entire economy is a manipulated farce designed to enrich a very small elite. They are not creating an advancing future, but rather keeping the old system and kicking the can down the road… If they wanted investments in the projects that produce a new generation of people and thinking the bankers could front run it, and quit making poverty/inequality such a headline issue. If they wanted the world to be smart and inhabited with smart people, they could have done so with all the money wasted on wars and adding debt to insolvent countries. but noooo.
February 10, 2015, 08:33:22 PM
Has there been any talk within the EU about boosting Greece's manufacturing or science industry? Why would the EU not give tax breaks or credits to companies to open facilities in Greece where the level of education is quite high amongst the unemployed and underemployed?
February 10, 2015, 02:51:17 PM
great Varoufakis
:-)
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