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Title: How will a Greek exit from the Euro affect BTC? Post by: cafucafucafu on February 09, 2015, 03:12:33 PM Will we see any major price changes because of it?
Title: Re: How will a Greek exit from the Euro affect BTC? Post by: alani123 on February 09, 2015, 03:16:42 PM
Oh and by the way, news about Cypriots using bitcoin when their bank funds were locked were overhyped bullshit. Also, if you see the price rising and people blame it on news related to Greece it's still not a direct effect. It's irrelevant people trying to pump the price thinking that their trend will catch on after the news. Get your facts straight. And if you think that any of the above is not true, please enlighten me how come you know more about Greece than someone who actually lives in the country? Relevant read: http://newsbtc.com/2015/01/28/will-bitcoin-solution-greeces-deep-rooted-problems/ Title: Re: How will a Greek exit from the Euro affect BTC? Post by: ajareselde on February 09, 2015, 03:17:05 PM Will we see any major price changes because of it? Greece going out of EU will have little or no impact on price of bitcoin, there may be some pump attempts, but i doubt it will go anywhere. I would rather invest in EUR than in btc right now, because without parasyte Greece, EU will be better off now. cheers Title: Re: How will a Greek exit from the Euro affect BTC? Post by: redsn0w on February 09, 2015, 03:17:53 PM As we told here : https://bitcointalk.org/index.php?topic=949374.0 I think the Greece will never get out from the Europe.
Title: Re: How will a Greek exit from the Euro affect BTC? Post by: thejaytiesto on February 09, 2015, 03:39:57 PM
Dont be so sure about this. There are big % of Greece abandoning (or getting kicked) from the Euro. Title: Re: How will a Greek exit from the Euro affect BTC? Post by: numismatist on February 09, 2015, 03:54:36 PM
About how embracing BTC can be for completely broke Joe Average, I don't know. Actually I have some doubts. Perhaps some more technology biased company will discover BTC as a way of transmitting funds. It is a small milestone on the road to mass adoption, but definitely not mass adoption happening today. Partly Neo & Bee messed that up, https://www.youtube.com/channel/UCoROx4ZAwcFQdSeX0z_xonQ The (in)official opinion of Varoufakis http://yanisvaroufakis.eu/2013/04/22/bitcoin-and-the-dangerous-fantasy-of-apolitical-money/ might be helpfull, too. Title: Re: How will a Greek exit from the Euro affect BTC? Post by: NeuroticFish on February 09, 2015, 04:05:07 PM IMHO there are a lot of discussions we are not aware of. Basically Greece will not be kicked out.
But that's not what you want to know... If Greece would be kicked out, I think that Euro currency will suffer. But Bitcoin is not tied to Euro. It should not be tied to any currency, though I have a feeling that it's actually sortof tied to USD. So Bitcoin price will not be affected at all. Just if you are in Europe, you'll feel like Bitcoin became a lot more expensive. Title: Re: How will a Greek exit from the Euro affect BTC? Post by: superresistant on February 09, 2015, 04:46:26 PM Relevant knowledge : If Greece exits here is what happen (http://www.zerohedge.com/news/2015-02-08/if-greece-exits-here-what-happens-redux) Morgan Stanley says Grexit would send eur/usd crashing to 0.9 (http://www.zerohedge.com/news/2015-02-09/morgan-stanley-says-grexit-would-send-eurusd-crashing-090) Also : http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/05-2/German%20costs.jpg IMO, in the long term it would be better for strong countries to drop the weak ones (because there is no reason for the weak countries to ever get better) but it would cause a huge crisis. Title: Re: How will a Greek exit from the Euro affect BTC? Post by: Darude Sandstorm on February 09, 2015, 05:04:49 PM Will we see any major price changes because of it? I don't think it will effect bitcoin in the slightest, unless the Greeks start putting their money into it. Bitcoin could see a surge in countries that are going through economic woes though. Title: Re: How will a Greek exit from the Euro affect BTC? Post by: countryfree on February 09, 2015, 05:45:09 PM As it has never happened before, it's hard to predict the outcome of a country leaving the Euro zone, but I sincerely hope Greece will be kicked out. It will be a huge shock at first, but the Euro zone should quickly get better without that black sheep. Greece is only dragging down the Euro. Nobody benefits from its presence. It's only a burden, and it will take decades before the country gets better. Why should the people from Northern Europe help them? Greece is useless and unneeded, with a new prime minister that barks like a mad dog.
It's a beautiful country, though. There might be a few Greeks rushing to buy BTC if the country goes back to the drachma, but I don't expect a sharp rise in its price. Title: Re: How will a Greek exit from the Euro affect BTC? Post by: bigkahuna on February 09, 2015, 07:11:30 PM There are many countries that should never have been adopted into the European Union. Countries like Greece, Romania, Bulgaria and Poland were all fooled into thinking that in the EU would be better. In reality, the EU just uses them like slave labor, takes their resources and burdens them with restrictive laws and debts in the form of IMF loans. If Greece leaves they will be the lucky ones, but BTC will be unaffected.
Title: Re: How will a Greek exit from the Euro affect BTC? Post by: painlord2k on February 09, 2015, 09:38:22 PM Greece's government could leave the , but the Greeks will not abandon their .
In fact, many of the just moved their from Greece's banks to germany's banks, to avoid any risk of bank's holidays and forced conversion to new drachmas. If the Government just default on the debt or leave the , it will need to pay every imports, good and service in or $ or gold. In full and upfront. The worst thing can happen to a government is just being forced to pay upfront and in cash for its spending and with someone else money. They would be forced to tax as much as they like to spend. And, usually, this lead to peasants with pitchforks showing under the walls of the governments offices. They would be forced to balance their budget. Ohhh the horror!!!! The HORROR!!!! The default on the debt would cause an increase on the government debts of other countries. This is because they can not afford Greece to default, because this would cause a chain reaction of insolvency. Italy, my country, is just on the brink of the default. 600+ per capita added to the government debt will not help a lot. It would push the debt/gdp ratio near 140% in a moment. Other smaller countries would be in similar situations. Their debt/GDP could be better, but their economy could not endure the increase of interest rate or just be unable to pay more. Even Germany, their bank sector is vulnerable to defaults, because their banks are overextended (often a lot more than Italy's). The QE is needed to backstop all of this injecting enough liquidity to prevent the other countries and their banks from popping like Christmas lights after the Greek government default. What will happen is a large increase of currency controls. And this will benefit Bitcoin adoption. Title: Re: How will a Greek exit from the Euro affect BTC? Post by: pereira4 on February 09, 2015, 10:40:16 PM I just saw this in the main board
http://yanisvaroufakis.eu/2014/03/13/debating-bitcoin-on-abc-late-night-live-with-phillip-adams-and-andreas-andreopoulos/ Varoufakis consider bitcoin brilliant but he is skeptic. Title: Re: How will a Greek exit from the Euro affect BTC? Post by: Q7 on February 10, 2015, 12:38:49 PM If Greece exit Euro, wouldn't that essential make euro stronger. It might send a jolt to the market, that probably would have positive impact on btc price but in long term, I don't think so. Probably more significant is the total collapse of euro.
Title: Re: How will a Greek exit from the Euro affect BTC? Post by: B.A.S. on February 10, 2015, 12:56:18 PM
Oh and by the way, news about Cypriots using bitcoin when their bank funds were locked were overhyped bullshit. Also, if you see the price rising and people blame it on news related to Greece it's still not a direct effect. It's irrelevant people trying to pump the price thinking that their trend will catch on after the news. Get your facts straight. And if you think that any of the above is not true, please enlighten me how come you know more about Greece than someone who actually lives in the country? Relevant read: http://newsbtc.com/2015/01/28/will-bitcoin-solution-greeces-deep-rooted-problems/ I fully agree. I don't understand people's obsession with a "doom-gloom" collapse of Greece and a massive flocking to BTC. I see the current events surround Greece as a call for help. Greece entered the eurozone for the same reason it now wants to leave it; debt. They need solutions to their debts. Those in the eurozone stand to lose to much if Greece left. Besides, per the European Central Bank I am not too sure it is even legal for Greece to sever its ties to seek sovereignty under the current circumstances. What do you think may happen? Title: Re: How will a Greek exit from the Euro affect BTC? Post by: B.A.S. on February 10, 2015, 01:01:01 PM If Greece exit Euro, wouldn't that essential make euro stronger. It might send a jolt to the market, that probably would have positive impact on btc price but in long term, I don't think so. Probably more significant is the total collapse of euro. The euro would take a hit relative to itself if Greece leaves (which won't happen). A exit would leave a very large debt/tax bill uncollected to the eurozone. Greece would fall into a massive inflationary spiral if they tried to implement their own currency again. The price of goods and services would skyrocket in Greece; most citizens wouldn't be able to afford anything; Greece wouldn't be able to afford anything with their near valueless country. I.e. Greece is not leaving. It's just acting like the little brother right now because his older brothers got new clothes and he didn't (for once). Title: Re: How will a Greek exit from the Euro affect BTC? Post by: superresistant on February 10, 2015, 02:11:08 PM http://www.zerohedge.com/news/2015-02-10/europe-propose-6-month-extension-after-greece-warns-it-may-get-funds-russia-or-china Title: Re: How will a Greek exit from the Euro affect BTC? Post by: bitbunnny on February 10, 2015, 02:13:44 PM Don't think that Greece will exit Euro and wheter she does it or not, that doesn't affect BTC price.
Title: Re: How will a Greek exit from the Euro affect BTC? Post by: SODEA7 on February 10, 2015, 05:04:12 PM I don't think Greece will finally exit the euro but if it does the ensuing bank runs in Greece and the "soft" EUR countries (PIIGS) can only pump up BTC.
Title: Re: How will a Greek exit from the Euro affect BTC? Post by: Amph on February 10, 2015, 05:30:27 PM they will not affect it in any way, fiat are still far awar from bitcoin, they ignore it
Title: Re: How will a Greek exit from the Euro affect BTC? Post by: alani123 on February 10, 2015, 05:46:44 PM We'll have to wait for tomorrow, February 11 to see. Greece won't be exiting the Euro most likely but since the eurogroup takes place tomorrow we'll surely see some interesting events unfold. And honestly, if you're going to get your news from an online source, my suggestion is that you should also use a website that is located to a country withing the eurozone.
http://www.dw.de/ from Germany and http://www.ekathimerini.com/ from Greece are decent imo. Websites like http://www.independent.co.uk/ and most websites from the USA always take a different approach on the topic. Sometimes their reports range from inaccurate absolute speculation. You need to look at both sides of the story to have a clear image. Title: Re: How will a Greek exit from the Euro affect BTC? Post by: nachoig on February 11, 2015, 05:22:11 AM Greece's government could leave the , but the Greeks will not abandon their . In fact, many of the just moved their from Greece's banks to germany's banks, to avoid any risk of bank's holidays and forced conversion to new drachmas. If the Government just default on the debt or leave the , it will need to pay every imports, good and service in or $ or gold. In full and upfront. The worst thing can happen to a government is just being forced to pay upfront and in cash for its spending and with someone else money. They would be forced to tax as much as they like to spend. And, usually, this lead to peasants with pitchforks showing under the walls of the governments offices. They would be forced to balance their budget. Ohhh the horror!!!! The HORROR!!!! The default on the debt would cause an increase on the government debts of other countries. This is because they can not afford Greece to default, because this would cause a chain reaction of insolvency. Italy, my country, is just on the brink of the default. 600+ per capita added to the government debt will not help a lot. It would push the debt/gdp ratio near 140% in a moment. Other smaller countries would be in similar situations. Their debt/GDP could be better, but their economy could not endure the increase of interest rate or just be unable to pay more. Even Germany, their bank sector is vulnerable to defaults, because their banks are overextended (often a lot more than Italy's). The QE is needed to backstop all of this injecting enough liquidity to prevent the other countries and their banks from popping like Christmas lights after the Greek government default. What will happen is a large increase of currency controls. And this will benefit Bitcoin adoption. With the exception of Argentina, currency controls doesn't bring any benefit to Bitcoin. Anyway, Bitcoin is still experimental and probably most Greeks don't anything about that. Of course, it still remains as a great option in case of a bank run. Title: Re: How will a Greek exit from the Euro affect BTC? Post by: zebedee on February 11, 2015, 06:03:42 AM Greece going out of EU will have little or no impact on price of bitcoin, there may be some pump attempts, but i doubt it will go anywhere. The Euro and its unelected bureaucracy will attract parasites like shit attracts flies. You'd better get used to it.I would rather invest in EUR than in btc right now, because without parasyte Greece, EU will be better off now. Title: Re: How will a Greek exit from the Euro affect BTC? Post by: pereira4 on February 11, 2015, 05:26:11 PM Nothing will happen because most people don't even know what Bitcoin is and will rather keep their money under the sofa.
Title: Re: How will a Greek exit from the Euro affect BTC? Post by: painlord2k on February 11, 2015, 10:30:27 PM With the exception of Argentina, Venezuela, Brazil, Iran, Pakistan, etc.currency controls doesn't bring any benefit to Bitcoin. Anyway, Bitcoin is still experimental and probably most Greeks don't anything about that. Of course, it still remains as a great option in case of a bank run. Fixed Title: Re: How will a Greek exit from the Euro affect BTC? Post by: countryfree on February 11, 2015, 10:37:55 PM We shall consider the alternative. Greece gets a new bailout, and some of its debt is cancelled. The instant effect will be a Euro going down against the dollar, which may trigger a rise in BTC's price which would suddenly look stronger.
Either way, the Euro will lose, which is bad but the worse to see the Greeks winning that battle. They are the bad guys. Many African countries are more efficient than Greece! Title: Re: How will a Greek exit from the Euro affect BTC? Post by: Bralex on February 11, 2015, 10:43:35 PM Nothing will happen because most people don't even know what Bitcoin is and will rather keep their money under the sofa. Under the sofa you say? what year are you in? No Greece is going nowhere if they left who is going to bail them out. But if they was to leave BTC price will still stay the same imo Title: Re: How will a Greek exit from the Euro affect BTC? Post by: nachoig on February 11, 2015, 11:13:12 PM With the exception of Argentina, Venezuela, Brazil, Iran, Pakistan, etc.currency controls doesn't bring any benefit to Bitcoin. Anyway, Bitcoin is still experimental and probably most Greeks don't anything about that. Of course, it still remains as a great option in case of a bank run. Fixed Brazil doesn't have currency controls. Venezuela, Iran or Pakistan hold more potential regarding this. But none of these countries has the same level of adoption or knowledge about Bitcoin reached by Argentina, so until this moment, currency controls didn't increase significatively the adoption of Bitcoin. Title: Re: How will a Greek exit from the Euro affect BTC? Post by: grendel25 on February 14, 2015, 05:19:07 AM financial irresponsibility isn't bad for the currency it's bad for the irresponsible managers of the currency. If people are stupid and spend irresponsibly then the money isn't worth squat to them. It's not so much that currency isn't valuable but when you have no currency to spend you are just poor and have to find some way to get currency and hopefully be responsible the next time. That's why Greece is now looking for debt forgiveness.
Title: Re: How will a Greek exit from the Euro affect BTC? Post by: andulolika on February 15, 2015, 08:37:06 PM I don΄t know the effect over bitcoin, but i know greece will recover vastly, europe is a trap.
Title: Re: How will a Greek exit from the Euro affect BTC? Post by: oblivi on February 16, 2015, 04:00:00 PM I don΄t know the effect over bitcoin, but i know greece will recover vastly, europe is a trap. Not so sure about that. They are not going to magically start producing value by leaving the euro. |
