Bitcoin Forum

https://www.google.com/trends/explore#q=Bitcoin&geo=GR&cmpt=geo&tz=Etc%2FGMT-2

Little late for them now, considering they can only withdraw 60 Euro/day.

They can earn bitcoin by accepting it as a payment method.

They get a lot of tourists, people don't carry much cash around with them, bitcoin might be the alternative.

Better now than never.. but 60e/day is obviously nothing with capitol controls in plave

The rich will have there ways. You should buy gold/silver for eur from the greece now :)

Finally some raw data saying they are indeed more interested in Bitcoin... Now we only need exchanges to start picking up with real volume from Greece, when they can withdraw more fiat...

If they go back to using the Drachma it will happen quickly, then they can start making large withdrawals from their bank accounts (after a 30% haircut for a bail in). It won't be long before they can start accumulating Bitcoin, and they will probably drive up the volume on exchanges to unheard of levels.

Good to see that Greece is more intrerested in BTC!
They also should buy some gold/ silver.
But i don't think they will get out of the euro though.

Drachma will be almost worthless if they change to it, as I've read... So they won't probably spend that much drachma on bitcoins. But I'm just speculating, it can happen otherwise. And about that 30% cut, I've been reading about that on that here on the forums, where did that news came from?

I feel like the big holders here should charter a flight and go over to Greece to be ambassadors, setting people up with wallets and offering to pay for everything with BTC. Since Greeks want BTC but can't get cash, they are going to have to earn it for goods and services.
Too bad entities like the Bitcoin foundation are just bullshit cash cows for the greedy and don't actually do things to forewarn the cause by going out and actually doing things that are needed.

I found the news about the 30% haircut on this page. The Greek government can't know what to expect on Monday because a possible exit from the Euro has never been done before. If their banks go bankrupt they will have to make tough choices.

http://www.forbes.com/sites/rogeraitken/2015/07/05/greek-economic-crisis-is-a-parallel-currency-the-answer/


Someone else found out that the Greek government might stop people withdrawing anything from their safety deposit boxes in banks.

It's too late for Greeks now. They can only withdraw 60 euros a day. Their savings are going to be stuck in banks for many years. It's not too late for Spain, Portugal and Italy. This could happen to them someday.

the Greeks can still earn bitcoin buy selling anything of value in order to receive bitcoin in exchange, most likely we could see a lot more adoption in Greeks accepting bitcoin since they have so many restrictions, maybe the real state market could be booming in bitcoin payments for those willing to move out of Greece.

They are interested with Bitcoin mining, a bunch of new miners will born.... :D

Greeks may send money abroad to their friends to buy bitcoins for them. They could use insured courier packages for transferring the money.


Two greek friends of mine managed to withdrew their euros from their bank account with the help of bitcoin.
They used their internet banking to send euros to btcgreece.com (greek btc exchange with a greek bank account). There must be no limitation for transferring money from one greek bank to another greek bank via internet banking. Then they bought bitcoins and withdrew.

Thanks to all you lovely Greeks for the profits!  ;D

https://i.imgur.com/ph4pB4h.png

As a sign of good will and solidarity with the Greek people, I will hold all gains in bitcoin, and continue buying with earned income.

Traders are loving the movement and such much coverage of bitcoin and the possible solution that bitcoin could be a part of a change in a country such has Greece or even more adoption be people suffering in the hands of the government this type of financial disaster.

I'm been saying that bitcoin would be great for the Greek people due to the trouble they have been in. Though it would have helped to have bitcoins before the bank restrictions took place. But if I was in Greece, I would be using bitcoin over fiat whenever possible.

it's not like everyone there is poor now, i'm sure some rich guy are investing in bitcoin with their "money under their pillow" in case the situation will be more critical


i believe they know that it isn't profitable, at best they could go with altocin mining, or build their own altcoin  ;D

I think people who expected or simply knew that this would happen, have long moved their funds elsehere. It would be interesting to see where the top richest greeks and politicians keep their money....

Why would the people with euros under the pillow invest in bitcoin? The euros are just as good as they where a month ago and will be good next month. The greeks problem is not lack of money or worthless money but problem with sirculation of the moneys. Bitcoin would not help them at all.

Right now, I don't think that bitcoin can help them much.
Because of the political crisis and uncertainty tourists already giving up from Greece.
And how many of these tourists even used bitcoin or knows something about it?
While the situation in Greece is not resolved, any alternative payment methods will not help them much.

Totally agree with that. If you have cash in Euros on you, just keep it. No point gambling it for Bitcoins. If, however they will go back to Drachmas, it will devalue immediately as the government will need to inflate it by issuing new money to repay debts and pay people. Then it might be worth to change into Bitcoins to retain some value and avoid -at least initial/sudden- inflation and loss of value. Tough situation anyway.

Indications are that Greece will be shifting to a dual-currency system, where both the Euro and the Drachma will be permitted. Those who have their money in the form of Euro banknotes have nothing to worry. However, all the new government payments (such as child benefit, pensions.etc) will be paid out in the form of Drachma.

I'm not sure if Greece will rely on bitcoin or even invest with bitcoin. Sure bitcoin prices gets affected by the Greece crisis but I'm pretty sure people in that country do have a little to no knowledge on what bitcoin is and how it works.

And those stuck with Drachma cant buy bitcoin since noone will sell BTC for a useless currency....

the euro is shit, is losing value against USD, better to invest in something that is near its skyrocketing very soon, than sitting on something that will not go anywhere, and surely investing in something that is gonna explode in the next few days will help them a lot...

bitcoin right now look less and less risky than any other asset


that's why they need to buy it now and not waiting when they will be kicked out from the euro

The trending was largely on bitcoin mining, so there's still hope despite the austerity measures.

It's better than nothing. 60 x 30 = 1800 eur monthly. They don't know for how long the capital control situation, and they dont know if there will be mega haircuts in the future. Better be safe and sorry and get at least half of your wealth out of there.

The Drachma will be having some value, as Greece exports billions of USD worth of agricultural produce, medicines and metals every year. But the initial exchange rates will be highly unstable, and it will be a very tough task for the Greek central bank to stabilize the exchange rates (that is, if they have the resources to do so).

Yes, most likely it will be inflated initially. The government will have to issue new money to pay debts, government employees (a large percent) and so on. Though, this should be limited by the EU in some way as well. However, if they don't change something in their economy eventually, who know where their inflation will stop.

Greece has a big trade deficit: http://www.tradingeconomics.com/greece/balance-of-trade

Bitcoin increased by 400% in the past 2 months I read. Because Pypal is no longer available, and Greeks gotta use some kind of payment to pay online. This is going to help bitcoin over all.

Not just that. The current financial crisis in Greece helped bitcoin because people are excited about Greeks going to use bitcoin as an alternative so they bought large sums of coins for future reference.

Well lets hope the coming crisis in china will make bitcoin blow up, from what it looks like the crisis in Greece would look like a tiny cloudy day from what if beginning to happen in china http://money.cnn.com/2015/07/06/investing/stocks-market-china-greece/index.html?iid=hp-toplead-dom

if Chinese stock market continues to fall as it was in the past month and they investors in the stock market notice bitcoin then we could very easily have another 2013 for bitcoin price.
since the bitcoin price has an upward motion, it only needs another push like china entering it with a lot of investors, and then the price would skyrocket.

Though there is a big rise on Greek Google search, it is a little effect on Bitcoin price.

The only way Bitcoin can help Greece, is if it can stimulate innovation and access to a global micro payment options. It has to create job opportunities for the many unemployed people there, and this will stimulate the economy again. {New global capital coming in}

For this to happen, Greece would have to declare a VAT free environment for Bitcoin businesses. {This will create a Bitcoin friendly environment, which would attract Bitcoin business from other countries, to relocate to Greece}

Hiding what is left of their money in Bitcoin is a short term remedy, but they would still need to convert it back to Euro's or Drachma or whatever currency they choose to accept.  

A country which is in debt beyond measure should declare bitcoin businesses as VAT free? It may be an appealing opportunity for bitcoin, however I doubt this would be the right course of action for the country. Probably even normal businesses would convert -on paper- to bitcoin business to avoid taxation. People find loopholes with these things, that's the problem.  Also, Greece as a country, probably wants as a last thing for its people send money abroad to buy a virtual currency.

And btw, everybody is saying "decentralized currency", yet waiting for (centralized) governments to apply measures to make it grow and successful. This is a bit ironic.

Greeks not paying TAX is on of the main contributions to todays situation... :P

because greece are not actually buying bitcoin, the last price increase is build only on the top of their hype, none with a family in greece is buying anything

minus some random rich person

Well, lets see what happens.

I know that the banks are closed.. But does that also mean that the online banking system is down?

Because if it was up, I would have bought all the BTC I could with my useless money in the bank.

if I were a citizen greek, I also would have sought alternative solutions to the problem of the banks and that can cause you discomfort, have their money stuck without possibility 'of use.
Maybe now they understand better the concept of decentralization, and "be your own bank"

AFAIK electronic banking is available but with limits.
They don't want money leaving the country so sending money to another country is not possible unless for business and you need to prove that.
So I don't think the Greeks are able to do what you are saying.

The ATM's are running dry, and they are not being filled again. The local debit and credit card payments are temporarily frozen and they have limits on the daily withdrawal from banks.
People are desperate to get their hands on their own money, how ironic is that? This will never happen with Bitcoin, because you have full control over your private keys. It's a bloody mess ^hmf^

I think there was a Greek exchange where you could exchange Euros to BTC within the country. And as it is a Greek business, its money transfer within the country hence only fewer limits apply.

I think the site was www.btcgreece.com (http://www.btcgreece.com)

not with ebanking. With ebanking is unlimited the money that can you transfer to ebank greek account. The lucky in this story is the only one bitcoin exchange in Greece btcgreece.com. I think is the only one here in greece that still sell bitcoins.

the price rise clearly shows the Greeks showing interest in bitcoin and the news also makes others buy bitcoin too because they don't want to lose this opportunity for profiting.

also i have heard that exchangers are reporting that they are getting increasing  requests from Greece on their website and also there are a lot of question asked by greeks on how to buy bitcoin.

Greece has now until 20th of july to pay a series of bonds which are key to deduce where this is going to go. If they don't pay the 20th of july, it's pretty much game over at that point, and a Grexit is a bigger % of the outcome.

People with a Greek bank account that sell BTC for wire transfer must be crazy. There's a high probability that they will loose a large part of their funds when the banks do a restructuring using their customer's deposits...


Game over will be within the current week, if the ECB does not provide further liquidity ASAP.

It's a bit late now for them, it's pitty that they just now realized the advantage they could have utilize to secure their funds and avoid dealing with the notorious middle man.
I believe that now is the correct time not to advocate bitcoin in Greece, but rather to other countries that could face the same catastrophe as they did.
Bitcoin is more like preventive measure, than it is a miracle cure for ruined economy and society.

cheers

Bitcoin must conquer greek finances.

I mean would you rather have "quicksand" in your hands that slips through your fingers named fiat toilet paper?

C`MON the euro is pretty done for, all EU banks are insolvent, the only thing keeping them alive is the massive 1.6 trillion QE that the ECB does until september.

I think after september they will inevitably do a round 2, round 3, and so on.

Hyperinflation is coming folks....

greeks rushing litecoin hahaha

I think the people actually buying BTC is rather small, it's the speculation about it that it's making the price go up. Most of the people that hear it will not take the step and buy, only a small percentage will actually do it.
If I was greek I would be trying to buy as much as possible online basically because I would be scared o a haircut more than I would be about BTCs volatility.

nothing to do with that, those are whales pumping it as usual

greece can barely survive with their heavy restriction, did you see the news that many merchants there are not able to sell anything(car, moped, airline tickets ecc...), there is no money anymore they can't for sure afford to do a pump of any kind be serious...

Banks will remain closed until at least 9 July, having not opened at all this week, and capital controls mean Greeks cannot withdraw more than €60 (£43) each day from banks. But credit and debit cards can be used as normal,

Credit cards can be used as normal? This seems to be a big loophole.

the most harder hit in this crisis was the retire folks, a big part of then now being able to withdraw their pension and some of them receiving partial payment of it.
hopefully the situation gets better by this coming monday.

That would mean that they have the opportunity to buy bitcoin from their local exchange probably! Wonder if that is how they are buying bitcoin.

http://www.kathimerini.gr/822812/article/oikonomia/ellhnikh-oikonomia/ay3hsh-synallagwn-me-bitcoin-eferan-ta-capital-controls

One of the most circulated newspapers there.

Definitely folks, help spread bitcoin in greece.

Put up posters, bilboards, contact newspapers, tv, or any media or press.

We need to tell the greek people to use bitcoin, it will liberate them from the shackles of the banksters, which they want it already.

Greeks must have some prior knowledge regarding bitcoin so it isn't that much hard to spread the word about it. However, the problem is how are they gonna buy bitcoins if they are only limited to withdraw a couple of euros per day?

They are limited to withraw, and send outside the country.

But they can still wire transfer infinite amount inside the country, so if there is a bitcoin exchange in greece, people will definitely "raid" it :D

So if you are a greek entepreneur, then consider making a bitcoin exchange in greece, 100% that you will get alot of customers.

There is a Greek Bitcoin exchange that was posted around here a few times. https://www.btcgreece.com/ (https://www.btcgreece.com/)
I don't read Greek, but I haven't heard that they would have been raided.

I meant "raid" in quotes, meaning that alot of people will buy there, like a bank run, but in the positive sense, going there to buy.

So if that is the case, that 1 single bitcoin exchange will make a fortune from comissions in the next month.... if the government doesnt shut them down....

I wish them greeks the best, hopefully they realize how beneficial bitcoin is compared to fiat toilet paper.

Actually I'm not sure bitcoin trending can raise the economy of Greece immediately, which the main reasons of why Greece got bankrupt were corruption and bribe in the government. The Greece people can switch into bitcoin, but they still can't avoid high tax from the government. But anyway, Greece has shown positive trend in bitcoin development there.

Can they make that 360 billion Euro in bitcoin to pay off their creditors?
If it will ever happen ::) It will happen with bitcoin and it's way of surprising you when you least expect it.  8)

you can't suppose that a 4B marketcap asset can save a whole country like the greece, and they know that(those that are aware of bitcoin at least...) so it's pointless for them to adopt bitcoin, and enrich early adopters as a consequence of their buying

no one it taking bitcoin seriously for the time being

You dont need to save the whole country, you just need to save the poor people. The middle class and the rich ones will surely not starve.

If the poor people get saved (not through endless welfare and socialism) but through offering them innovation and an opportunity to earn money.

Look bitcoin has created more jobs in its existence than all governments on the world combined since then....

you can not know who is rich and who is not, some are hiding their wealth, to gain even more  wealth, the richer always want to become richer, that's the problem, they are greedy as fuck

so you will end up saving who don't need to be saved, and wasting precious money on it, while many other real poor people will starve to death

Unless you are willing to give people free bitcoin then you can't save them with it. From my experience I can say that people who are poor don't give a shit about new technologies, alternate currencies or investing.
First you need to fix general economy for bitcoin to be present in every part of society. For now it is used by only people who already have money to spend on 'investments'.
And that job part... it is not true at all. I wish it was truth tho.

I sure hope that Bitcoin can do some good for the economic situation of the Greece. And I also hope that this Greek adoption can do some good for the bitcoin community as well.

I`m pretty sure that poor old guy who was crying in front of the ATM (been all over the news) didnt had a stack of euros under his pillow.

So obviously because of wealth hiding, thats perfectly legit ( Universal Declaration of Human rights, UN human rights, and EU human laws perfectly allow right to property, so fuck the thief banksters and tax collectors , atleast follow the fkin laws that you made dumbass elite)

So instead of wealth redistribution, why not just create new wealth for poor people?

Isnt it more moral to create new wealth instead of redistributing (stealing) and giving to the poor?

Free bitcoin? Why? Everyone has an arm and a leg, so they can work...

There are thousands of "work at home" services (most are scam) but if bitcoin gets to those, it can be even easier to earn bitcoin by working from home.

It can be a massive new wave of jobs and employment, outside the government controlled sinking ship economy.

It's a perfect alternative especially for young 20-30 skilled persons, who already are computer experts, and have the most unemployment in their age group.

All it takes is one grocery store to accept bitcoins and one employer to pay in bitcoins, and that's the beginning of those people not needing fiat anymore. 

became clear that the Greek banking system and the policy adopted by the rulers not suit the current situation in Greece , there is a huge vulnerability in the banking system , they bet and buy and sell other currencies with their money , you never know where or when money was invested , it appears only what you need to know and see your balance , just as the exchanges your virtual balance and your actual balance

But how do they pay taxes, and if the local gov gets angry they just shut them down for no reason, they can do that unfortunately.

Its easier if you just organize commerce decentralized way.


For example an e-bay, but based on bitcoin, that can be the really big innovation instead of small stores that have no way of defending themselves against maffia mobster thugs going there to collect protection racket (yes i`m talking about tax collectors).

I havent been able to see much of Greece on the current days, how the exposure on bitcoin going any new articles maybe a few new bitcoin atms for start up ideas coming to surface?

surely the Hype that greece created in bitcoin world was much greater than the actual effect it had . i bet there is just a handful of people in greece who invested in bitcoin and continue doing so. but the majority doesn't even care!

I agree. Most of the Greek people don't even know what Bitcoin is. It's 99% hype and maybe 1% actual money from Greek people.

i doubt it's 1%, 1% of greek's population would mean 110k, if each of those puts even only 100 euro, we would have 11M of money in bitcoin, which are about 40k bitcoin into the market,

if everyone buy more in the range of 100-1k it would be 400k coins, in the market, which would rise the price much more than what it was...

The Bitcoin trade volume within Greece has increased by 400% during the last 4 weeks time-period, according to the local exchanges. But the overall trade volume is really low. It is in the range of BTC100-200. It means that some BTC4,500 were traded by the Greeks during the last one month period. If we take an average of BTC1 per person, it gives us 4,500 users, which is a very significant number.

Indeed so its not 1-2 whales put their money in bitcoin but rather some poor lads, unemployed 20-30 year olds who need a brighter future.

Folks need to realize that it will be only worse and worse, so if you know any greek unemployed young lad, definitely tell him about bitcoin.

He might earn a minimum wage in bitcoin, and if they form a community, they can barter food and stuff for bitcoin and not starve.

BTC were going up. dont sleep

I hope that the 60% non internet users of greece will fucking learn internet once and for all ,and put bitcoin.org their browser startup page.

C`mon guys we need to talk with mozzilla and co-brand ourselves so that every new download of the firefox, to show bitcoin.org as startup page.


Or atleast for greek IP addresses :)

It is also another milestone in the global adoption of bitcoin after Australia.
Day after day, the bitcoin is getting popular and it's good in my opinion.

Here in greece every day more and more people use debit cards like bit-x, spectrocoin, e-coin. Is the only way now with capital controls to buy something from an eshop outside greece. The only big problem is the high prices to buy bitcoins. We have two local bitcoin exchanges and the sell bitcoin price is 20-30 euro above market price. The same with the only btm it has 10% in every transaction.
We have before a BTM in the center of athens with logical prices but now is closed because they say it was only for promotion.. :P

Promote it with paper stickers on buildings and flyers or prospectus (how is it called in english) , so that you can get more and more people to just learn about it.

60% of greece doesnt even use internet, so promote it faster folks!

And those handfull of people has lost 30% of the investment....