Bitcoin Forum

Yesterday, nearly everyone in Greece was cut off from their money.  Even if you have 5 million euros in the bank, you are now stuck with 60Euros per day.  An irresponsible government, took money away from the people.  

Now do you think bitcoin is powerful?  People who had 5 million in bitcoin yesterday - still have 5 million today.  No stupid government rule is going to change that situation.  

Now go ask the millions of greeks with no money if they like Bitcoin.  As of today, nobody understands Bitcoin more than the Greeks.  

Early last month, many rich people in Greek began to withdraw money from banks, for they are afraid of these things happen, however, it happens now. Government can't do anything worse than forcing people leave money to save economy.

genesis block : The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.

Think about it, Satoshi had the bailouts in mind on the day the genesis block was created. Maybe he was giving the world a tool to move away from all of what was causing this chaos, entrusting with a group of people that would hopefully help it grow and help conquer the evil of how our banks run and governments waste 

Just imagine what will happen if they return to Drahma and its value will drop to 25% within hours....


For current situation I don't really know what will happen with the companies the import food. How will they pay, because the money is not allowed to leave Greece.

centralization is dangerous, not having full control over your money is dangerous, you will never know what will happen, it may seems secure to hold money in banks, that those shit happen and you lost everything

what i think is that bitcoin feel more secure now than any other centralized or decentralized system, only gold can stand against it nothing else

people just confuse P&D with unsecure investment, the fact that bitcoin lose a big portion of its value, it does not mean that it is unsecure, it just mean that it can be very volatile because its market its tiny

I think every one in Greece is expecting good news the extention of the loan get approved or the strict austerity measures are compromised by international creditors. Otherwise they will leave the Euro zone and fall into chaos. 

Now many people can withdraw their money from ATM and Banks, because banks are closed for a week. There are no customers for merchants right now and i read that they don't have supply in their gas stations. If this is right, it will be a bad moment for Greece. Never think that news from 2 years ago will be happened today. Pray for Greece

I think Greece's business activities are stuck there. It will become worse day by day before any progress is made. Good luck with them!

Why pray for Greece?  You might as well flip a coin for Greece.  It will produce exactly the same effect. 

Thousands of old ex-government workers with fat pensions want to sit around and drink Uzzo rather than pay back that what they borrowed.  Germany doesn't like that plan so much.  Germany thinks those pensions were awarded to people who shouldn't get free money from an underperforming economy.  Germany thinks people get what they earn - not free money off someone else's work.  Germany is so mean.  This suffering is all Germany's fault. 

Are you dense? Germany gave several billions to Greek.

don't know why anyone is surprised by this. people could have seen this comming for quite a while now. if people were smart, they would have moved their money 2 years ago.

Actually, 56 billion.  But who is counting?  Germany is greedy and their economy has loads of money.  Now Greek people want to sit around and have more free money - but the Germans aren't being fair about it.

this only shows the usefulness of something like bitcoin, nobody can take that away from you because it is decentralized and you have complete control over your money. there is no government involved to seize your account or let you access it or not.

I agree with the part how useful bitcoin is in battling situations like these, but do you honestly think most of the Greek population even heard about bitcoin ? I doubt it.
Even tho google trends show increased interes in bitcoin, it is still far from levels it should be. Some other countries like Swiss show much more increased trending than the
country that is expected to.

And when it comes to impact on price, once again, you won't get increase from Greeks, as they have little or no money and savings, and even those
who do, are chained with limitations to their accounts.

cheers

Bank holiday given in Greece to hold money in bank itself,to overcome with the economy growth. >:(
Greeks have been withdrawing billions of euros from their savings accounts in recent weeks which effect the economic growth.
Because in the absence of any increase in this so called Emergency Liquidity Assistance, the banks had no way to supply cash to Greek depositors who have been anxiously withdrawing their savings. >:(

but the news and reports from exchangers shows that there is an increased interest towards bitcoin by Greece people.
Bitcurex got flooded with emails from Greeks.

Yes, the banks are closed in greek till 7 july now. Greece is due to make a €1.6bn (£1.1bn) payment to the International Monetary Fund (IMF) on Tuesday - the same day that its current bailout expires. I think greece is close to a risky default and an exit from the euro party.

Holy crap in till the 7th of july how could people operate like that, business could get easily robbed holding cash for a week, and given the current situation if the country turns into economic chaos god riots and all that drama could burst out all over.

The Greek government has been expecting civil unrest ever since they decided to lower the daily limit people are allowed to withdraw from ATMs to 20 Euros. That could lead to lots of people going hungry and large numbers of hungry people spells trouble.

That's actually interesting to see that some of them are looking into bitcoin. I still think bitcoin is very risky for people to put their entire money into but bitcoin could become an alternative way to store wealth outside of the mainstream and could actually save people money from crises like this.

especially when your government blocks your accounts and closes the banks so people don't have access to their own money.
but unfortunately bitcoin is not yet reached the stage that can be considered a somewhat safe investment because of the highly volatile price.

It is actually far, far worse than this.  It is not that people don't have access to their money, its that their money is now gone.  Soon, they will get a nice letter saying their 30,000Euros is now 30,000 dracma.  Then, their 30,000 Dracma will be enough to buy a ham sandwich and a soda.  The government took the money away.  It is now gone.  'Capital controls' is just a bullshit term for 'you got robbed'.

wow that just plain nuts, well hope the 11 million Greeks dont let their government just plain abuse them of their rights and hard earn money, when hunger begins then things turn crazy.

may god bless the Greeks and keep them safe.

but people dont realize that yet....because:  ::)

http://www.ofm.ch/images/DSC_0306.jpg


or:  they will get a nice letter saying their 30,000 Euros is now 3000 Euros.

I wonder what would the Greeks will do when the value of their money depreciates to such extent that no one wants to take cash for any product what so ever, would they turn to the dollar? or will bitcoin be the best alternative.

There are a coin named Hellascoin after the limitations of banks and the events in Greece their price and demand has considerably increased
It is accepted by many companies include and hotel http://www.ibtimes.co.uk/hellascoin-greek-bitcoin-rival-doubles-value-grexit-looms-1508480 (http://www.ibtimes.co.uk/hellascoin-greek-bitcoin-rival-doubles-value-grexit-looms-1508480)


https://ip.bitcointalk.org/?u=http%3A%2F%2Fi60.tinypic.com%2F20gjjar.png&t=553&c=Z9ZFAO4B-H3lDA


https://ip.bitcointalk.org/?u=http%3A%2F%2Fi62.tinypic.com%2F2hmzp20.png&t=553&c=mT7gKLH6Lm3nUQ

im not sure an altcoin would be a solution for greeks to invest in, bitcoin is not that well known in greece now an altcoin is far beyond that, if the proper bitcoin promoter step in to promo bitcoin has an alternative means maybe a good percentage of business and investment directed people would look into it.

Wow, that's fucked, but thank you for sharing this. Good thing everybody has bitcoin.

If they get this letter they should be very happy.  Getting 10% of what they had would be a great result.  The more likely result is they will get 1:100.  Leaving the Euro was spectacularly dumb.  Having Germany as a big brother to buy all of your worthless shit while extending the right to go anywhere in Europe to work was a huge gift.  Now, Greece has nothing but 20 years of some very serious misery to look forward to - all because of one young ambitious PM who thought he could stare down the Germans to make them pay for Greeces' mistakes.  Opps!!!  Big fucking profound - oooopsss!  Merkel is way too smart to fall into that trap.  The germans didn't get where they are by having dumb ass Greeks trying to play tricks and pull the wool over.  Germans know how to see that silly kind of bullshit a kilometer away.  Greece so over-plated their card is ridiculous.  The price in suffering is going to suck.

The only one I'd like to hear on this point is Antonopolis.  He is a smart fucker and a Greek.  I wonder what he has to say about the Greek PM and the economic nightmare which is now coming due to the Germans saying: 'get lost'.  That would be an interesting commentary.

If i would not have that much capital i would have putted it in BTC or gold instead of euro's for sure if i would live there.

There's lots of indicators that Bitcoin is becoming more and more popular in broken, and breaking economies.

Source: https://www.linkedin.com/pulse/cnn-greeks-rushing-bitcoin-filip-martinka

Hopefully soon it can be a preventative, rather than a palliative.

This probably is one of the drivers of Bitcoin's price rally.
People who had 5 million euros buried under their pillow, would still have 5 million euros today. It is a problem with the banks, not the currency. If you have bitcoin banks set up tomorrow, you will still face these problems (capital control, government intervention, etc).

Poor Greece if they would completely collapse as a country? :-[

People who have 5 million Euros under their pillow don't sleep very well. And especially not if it's denominated in the Argentine peso.


What the hell is a "Bitcoin bank" ?

the difference would be IF the bank was run on a principle of 1btc deposited,  1btc lent then the bank would actually have the money and not collapse of even everyone took their money out, the bank would simply wait till people were calm again and deposited money again. THE PROBLEM IS THE BANKS DONT HAVE MUCH MORE THAN 5% OF PEOPLES MONEY!! 

Bitcoin could be the first successful digital currency insurrection if the devs behind it are fully behind continuing to build the infrastructure in Greece.  But ultimately, the same thing that caused Greece's demise in fiat could be just as failure prone in Bitcoin.  Bitcoin might be nice for the few who can attain it but there would still be millions without it and that's not really a success.

Really very pathetic, please read the cries and hues of the people in Greece http://www.theaustralian.com.au/business/greek-banks-close-as-cash-machines-run-dry/story-e6frg8zx-1227419442216

“How can something like this happen without prior warning?” asked Angeliki Psarianou, a 67-year-old retired public servant, who stood in the drizzle after arriving too late at one empty ATM in the Greek capital. “I want Tsipras to tell me how I am going to make it through the week with €10 in my bag with rent coming up. It has never been as bad as this.”

How can a 67-year old man be that stupid? Still renting at retirement age, with only €10 in his wallet? I have never met someone so dumb. Most Africans are smarter. Since he was a public servant, I fully understand the mess the country is in.

Source link said subscribers only so putting up a second source
http://www.wsj.com/articles/SB11064341213388534269604581075703841095260

It sucks for that public servant as one you would expect them to be aware of the news being part of government even after retiring and second that's no excuse to not have some money stored on you for a rainy day.
(But I am curious how will people pay rents with a $66 bank machine limit each day)
Perhaps they can run up Visa's as paying rent would be a pain with a $66/day cap.

not Bank holiday rather Bank doomsday in Greece, Bitcoin fighting!!

Bank holiday? This government system proves that the money was never considered yours if they are able to close the bank.

bankholiday hahaha  now they laughing good now the ultimatum for paying their dept ti imf was yesterday midnight lol
btc asside, i see them all fleeing to foreign banks to avoid that stupid 60eu/day rule lol

In Africa countries sometimes people have the same. In Greece - what will be with rich people bank accounts, if currently they can take only 60 EUR per day ?  ;D

Its a sad time for Greece and I pity the Greeks who have to go through this tough phase. I would feel so disheartened to spend a day without my money, my own money. Regardless of the fact that I won't be spending all of my fortune in one go and ofcourse I would go easy on my own savings but limiting myself from my own money is not something I would stay shut about.

Converted to Drachma, and devalued. Could lose 50 to 99%+ of their value.

In other words we might get a second Zeroday
For those who remember the Cyprus thread.

Pretty crazy stuff if you ask me, the power banks and governments could have over the hard earn money of the people, i can just imagine those who are about to retire and they find this types of things out, or how about the big families that 60 euros wont be enough to feed their family in a day.

Peoples could ask goverments use gold and silver on currencys instead off only paper or anothers metals, banks cheat peoples giving debit&credit cards and plastic without true value and after happens same that in Greece.Even BTC must be backed for Gold,Silver or Diamonds for a reason very simple:
security to savers.

They've even limited the purchasing products to only companies inside Greece. The whole economic system is monitored, and regulated. Bitcoin is going to boom in Greece. Those who saw this crash coming and have switched will be the only beneficiaries.

If any greek buy BTC and after need cash to Euro, It is same problem because banks only can withraw 60 euros.So BTC is to longterm anyway.So must think on keep Euros too in a safe place to common expenses.Even buy BTC could be a problem to greeks because they need do first deposit on
Euro thru Bank to account of seller, or Which is better way to get BTC to Greeks?

Greeks aren't fair. They demanded over 250 billions from Germany for repair payments of WW2 (LOL).
http://www.spiegel.de/politik/ausland/griechenland-reparationsforderungen-koennten-noch-steigen-a-1027473.html

The bank is on a holiday, the government seems to be having a vacation without a credit card... They are on their way to doom themselves and the poor citizens are suffering. i just rad a thread where a businessman lost 700k due to the Greek crisis and the government has taken some part of his business money to settle its debts. The company cannot function anymore and therefore, their business is ruined. TRUST NO ONE, SCREW THESE BANKSTERS  >:(

Poor guys, lost their business because of the stupidity and mismanagement of their own nation. I wish there was any other way for his business to stay alive :( I hate it when entrepreneurial hearts are broken, especially when government has a huge part in it. It angers me. The once we rely on, are the ones who destroy us

When Bitcoin works for them they should consider it. The only problem is it does not have a full green signsl on the global economic front. This actually makes trading freely impossible. But why not consider using Bitcoin where it is accepted, all one needs to do is become more creative and enterprising. well the struggles would be there but is Greece not in a boiling soup already.

I don't believe anything anymore. This whole scene looked stage in my eyes. No one is that stupid, to walk around only with 10€ after all this currency-collapse-talking in Greece. I am sure he has a nice, warm pillow full of euros at home.

Yes, what ever happened to putting your money under your mattress. That is safer than the banks it seems.
The chinese do it because they don't trust no one, or they are hiding it from the IRS.

I think I read that thread and an interesting turn took place. His business somehow survives, although he is considering shifting to some other place, a nation which respects its citizens and their money and do not play around with it and pay off debts like its just free money to them. He seemed upset, angry and disheartened. I sympathize with Greece but I feel the citizens shouldn't be punished indirectly.

Are you kidding me? Do you know how much the Germans took in gold and other assets during world war 2 from Greece? Forget how many people were murdered, forget how many babies starved to death..250 billion is TOO LITTLE for the damage done to Greece in world war 2. My mother lived through that war and she told me of horrific stuff that happened in Greece at the time so don't talk garbage lol. I have NO bad feelings for my German friends, this is just the course of history and it was an ugly piece of history for the Germans as well as the occupied territories.

Yes, holding your money in centralized or decentralized  system is very risky ..... That is why bitcoin seems like a more secure option . I personally choose bitcoin over everything else barring gold. These two are the only ones to compete with each other I guess.