it would be fucking stupid to adopt a currency that was bound to increase in value by 55x as a consequence of them starting to use it.
Haha
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Rumor going around that tsipras might call off referendum....
If true, bitcoin price goes down? Weak ass man if he does.
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This letter does make him appear weak doesn't it? I listened to the translation of the TV appearance he did yesterday and I was impressed. In it he was saying that the illusion of Europe is too great and the cost of kicking Greece out would be immense. I thought to myself that there was a bit too much truth there for a politician. It made me sit back briefly any how. I can't link directly to the video but it can be found here http://www.bbc.co.uk/news/world-europe-33322754
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Perhaps i should have said, "could the network handle it", instead of "hack it". By that I meant the increase in activity. I accept that inflation is still too high and volatility would be wild and open to manipulation. But could the network handle it as it is today?
if a country really decide to adopt it, we will need larger blocks for sure. other wise transactions will take longer than usual to confirm as they are pushed to the next block due to the blocks being full. Is that all that's needed in order to make it scale? The finance minister of Greece, Yanis Varoufakis says it would not be a good idea to renounce the euro and adopt bitcoin, because it is deflationary bitcoin would be bad for Greece. It would be far better for Greece to consider adopting the bitcoin open source protocol to create its own government-backed bit-drachma with the Greek central bank. It will boost in their economy standards. I did a google search and found that chaps blog. Thanks for sharing. Here it is in case others are interested http://yanisvaroufakis.eu/2013/04/22/bitcoin-and-the-dangerous-fantasy-of-apolitical-money/
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I think this leaked letter is responsible for the current down trend in the BTC price. Perhaps it seems a deal will be struck, but I don't expect for the referendum to be pulled away from the Greek people now. Whether it's results will be true and fair or not I don't think we will ever be able to tell but they can never undo the fact that capital controls were put in place. All in all, still quite a positive for bitcoin. Edit: There is a 2nd image to this letter
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wish the Greek Prime Minister set a good example for the Bitcoin to Greek citizens? I think it's impossible.
However unlikely this may be, please lend me your imagination for a while.
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Perhaps i should have said, "could the network handle it", instead of "hack it". By that I meant the increase in activity. I accept that inflation is still too high and volatility would be wild and open to manipulation. But could the network handle it as it is today?
if a country really decide to adopt it, we will need larger blocks for sure. other wise transactions will take longer than usual to confirm as they are pushed to the next block due to the blocks being full. Is that all that's needed in order to make it scale?
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There's a potential problem with the review system in bitcoin world. As transaction fees are so low it would be incredibly easy for an unscrupulous vendor to fake purchases and leave positive reviews, enticing genuine buyers to pay only to be relieved of their bitcoins in return for nothing. How can trust be built?
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Perhaps i should have said, "could the network handle it", instead of "hack it". By that I meant the increase in activity. I accept that inflation is still too high and volatility would be wild and open to manipulation. But could the network handle it as it is today?
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Well one thing we know is that there will never be a day where all countries say, "OK we have all sorted it out. We are now all debt free", because it isn't mathematically possible.
I guess there is debt forgiveness, but why?
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However unlikely this may be, please lend me your imagination for a while.
Lets say the Greek prime minister advises Greek citizens to turn to bitcoin. They arrange to help everybody including grandmas to convert their euros to bitcoin. (I know I know. Never in a million years)
So bitcoin is the national currency of greece. All transactions in greece are carried out in bitcoin. Can the network hack it? What would happen?
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ahhh shucks! Now I just look silly
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well well well Admiral_Bit - Newbie - Activity: 11 just gave us amazing deep insight to current financial situation. problem is, that greeks will simply say NO this Sunday and bitcoin will raise even more.
you will se my newbie friend later, who was right..
assuming the election process is fair.
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Breaking News: Tsipras is about to close last minute deal with the EU commission. Bitcoin will be at 240 again tomorrow... Sell now or wait for the next hype...
Quick! Call the BBC. A user on bitcointalk has inside knowledge.
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This is normal by the standards of EU negotiations. They usually overrun the deadline by at least a week and eventually do a very late deal that everyone said was impossible. They might still do a last minute fudge that allows both sides to claim victory.
Thanks for that. I haven't really followed previously. Does this seem like deja vu to you? Does the fact that they will probably default before a deal is struck make this more damming?
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At 6pm washington time, greece will officially default if it hasnt paid the IMF. The media reports that its all set to happen, but will it or will there be a shock?
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Get it on the telly.
Beautiful Jo Ling Kent talking about Bitcoin right now on Fox Business! Sweet.
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Get it on the telly. That graph in the cnbc article is so underwhelming though.
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Some great comments here. I think I am gonna go ahead and buy a bitcoin. I notice the price is already back up at this point.
Like qiwoman2 said, I believe the Greeks have problems with money management. But, I think the people of the US are similar to the Greeks, Greece can't mess with their currency like the US can. Monday will be interesting at the banks in Greece.
But 10 bro, the price is only going up from here, the geo political situation is inside a pit right now, markets are crashing soon, and bitcoin will go up! I would personally put half of my wealth into BTC... considering how risky it is, it's way less risky than a lot of other options right now, specially if you want to make gains and not only keep your wealth at a more or less same 1:1 ratio. That could be done with Gold, but its too boring. BTC is way more exciting. 50% of your wealth woah! I guess it depends where abouts you are in life. If you still live with your parents maybe, but if you've got dependants, that's a whole lot of risk.
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