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Title: [2015-07-03] Paypal Shuts Down in Greece – Bitcoin Still Operates Post by: tyz on July 03, 2015, 05:56:17 PM As if everything to do with cash is tolerable enough, Greeks not have accessibility to their PayPal accounts, records Quartz. Capital manages enforced by the Greek government indicate that Greek people can just withdraw 60 euros (successfully 50 euros after Atm machines have lacked 20 euro notes) as well as online repayment service, PayPal, has been left maimed, consequently.
https://www.cryptocoinsnews.com/paypal-shuts-greece-bitcoin-still-operates/ Title: Re: [2015-07-03] Paypal Shuts Down in Greece – Bitcoin Still Operates Post by: OrientA on July 03, 2015, 06:22:18 PM That is because Paypal is cetralized fiat based. When Paypal adopts bitcoin, it would be available more.
Title: Re: [2015-07-03] Paypal Shuts Down in Greece – Bitcoin Still Operates Post by: tyz on July 03, 2015, 06:30:21 PM Now decentralization shows its power and superiority over decentralized currencies. Ripple holders should be warned for the future. This is probably the reason why Ripple has not raised as much as other cryptos over the last weeks.
That is because Paypal is cetralized fiat based. When Paypal adopts bitcoin, it would be available more. Title: Re: [2015-07-03] Paypal Shuts Down in Greece – Bitcoin Still Operates Post by: aso118 on July 04, 2015, 01:36:42 AM As if everything to do with cash is tolerable enough, Greeks not have accessibility to their PayPal accounts, records Quartz. Capital manages enforced by the Greek government indicate that Greek people can just withdraw 60 euros (successfully 50 euros after Atm machines have lacked 20 euro notes) as well as online repayment service, PayPal, has been left maimed, consequently. https://www.cryptocoinsnews.com/paypal-shuts-greece-bitcoin-still-operates/ Paypal shutting down may be news; bitcoin still operating is not. :P Governments should realize that capital controls are impossible in a world with bitcoins. Title: Re: [2015-07-03] Paypal Shuts Down in Greece – Bitcoin Still Operates Post by: Kprawn on July 04, 2015, 09:21:13 AM If only they realized this before the centralized banks closed their doors and reduced their withdrawal limits.
It's not as if we did not give them advance warnings.. I advocated for Bitcoin use on reddit in the /r/Greece subreddit before they started with this. I guess people only react when it's too late or after something bad happens... :( :( :( PayPal is just a puppet in the centralized chain and it can be shut down tomorrow, if the governments feel like it. Title: Re: [2015-07-03] Paypal Shuts Down in Greece – Bitcoin Still Operates Post by: tyz on July 04, 2015, 10:26:13 AM Now they even consider to keep 30% of all bank balances over $8,000 :o The worst scenarios are gonna happen. ::)
http://www.ft.com/cms/s/0/9963b74c-219c-11e5-aa5a-398b2169cf79.html Title: Re: [2015-07-03] Paypal Shuts Down in Greece – Bitcoin Still Operates Post by: dserrano5 on July 04, 2015, 11:39:09 AM Now they even consider to keep 30% of all bank balances over $8,000 :o The worst scenarios are gonna happen. ::) http://www.ft.com/cms/s/0/9963b74c-219c-11e5-aa5a-398b2169cf79.html Paywalled. Reachable at eg. http://www.cnbc.com/id/102809081 Quote Greek deposits are guaranteed up to €100,000 in line with EU banking directives, but the country's deposit insurance fund amounts to only €3bn, which would not be enough to cover demand in case of a bank collapse. With few deposits over €100,000 left in the banks after six months of capital flight, "it makes sense for the banks to consider imposing a haircut on small depositors as part of a recapitalisation. . . It could even be flagged as a one-off tax," said one analyst Deposits are guaranteed, but. Nice "guarantee" they have in place! |