The whole Eurozone crisis has shown how a monetary union without a political union is worthless.
Just because of one state, it is not fair to blame the monetary union, it has few advantages such as reduction of transactions cost and the avoidance of unnecessary adjustment burdens in the real economy. It's all about federalization. Then incorporation with the other big federation (USofA). Putin left the flock that's why they are after him. No one ever really wants the money, they're all after the glory... All this is just a step. |
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Silk Road: undercover DEA agent turned BitCoin thief pleads guilty - The Guardian. The Guardian Silk Road: undercover DEA agent turned BitCoin thief pleads guilty.The Guardian Force also invested in a company that brokered the digital currency bitcoin and served as the firm's chief compliance officer while still with the DEA. During his time with the company Force used his position to seize $300,000 from a customer and ...DEA Agent Who Stole Bitcoin During Silk Road Investigation Pleads GuiltyCorrupt DEA Agent Pleads Guilty To Extorting Bitcoin From Silk Road Creator ...Former US agent pleads guilty to bitcoin theft in Silk Road probe http://bit.ly/1Ny11H2Well, I'll be damned. Never thought this was possible.  |
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Just to discuss Greece - why the hell would any other country in the eurozone want Greece to stay & grant them another bail out etc?
It seems very, very counter productive, it's like giving another mortgage to a guy who can't pay the mortgage on his current property, the answer is known before you even ask the question - he is going to default again & again & again.
Greece are a disaster, what use are they to the other countries in the eurozone?
They can't pay back what they owe now, why give them even more?
IMHO - The reason they want to keep Greece in the EZ is because it could damage the currency project in subtle, but powerful ways. It proves that membership can be reversible in times of crisis (hedge funds will press hard on the next country in trouble), it clearly shows the juxtaposition of national sovereignty & currency union and if Greece leaves and does well - more fuel for the Left wing in Spain, Italy, Portugal and the far-right in France. Overall - it is a scary unpredictable thing. The Euro, much like our beloved Bitcoin, is a monetary experiment that was poorly designed from the outset. It was supposed to create unity & growth, and it has done the exact opposite. An exit could be the first step in dismanteling the whole house of cards, and as the 2nd (3rd?) biggest reserve currency in the world, a collapse in the Euro would have ripple effects that no one can predict (hence the comparison to the Lehman's moment). I think about BTC and Greece far too much lol. Crossposting from my own post from another forum :  This table will give you an idea of why the banks are closed and what the true manipulation of the masses looks like in Greece right now... Those are the tv channels (major ones) in Greece. They have spent time covering both protests (No) and (Yes) on the Left and Right box under their mark. Please observe that ONLY the ERT (public television which was shut down by the previous government) spent equal time to both. SKAI: 0" for NO protest - 7:15" for YES protest MEGA: 40" for NO protest - 8:10" for YES protest ANT1: 1:30" for NO protest - 14:30" for YES protest ALPHA: 1:12" for NO protest - 7:18" for YES protest ERT1: 4:50" for NO protest - 4:39" for YES protest STAR: 1:01" for NO protest - 5:41" for YES protest Apart from this we have every 1hr commercial that goes like this: Do you want to stay in the Euro? VOTE YES! You don't need to be a rocket scientist to get it... Someone's on a payroll. |
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 So WikiLeaks came out with another flop. Turns out the US & UK were bugging German and French leaders (nothing new here). Also turns out that Merkel, Hollande and Schuable do not see eye to eye on how to sort this mess out (yawn). Is it just me, or has WikiLeaks become incredibly irrelevant of late? They were probably sitting on this waiting for an opportune time to release it in an attempt to get some press. For quite some time now they probably lack of resources (ie: fresh input). This is how they suppose to keep it up and running (and get some more donations). If it wasn't for BTC they would have probably shut down business a couple of years ago...  According to this though ( http://www.nooz.gr/greece/wikileaks-megali-apokalupsi-gia-tin-ellada) Merkel wanted BRICS to rescue Greece... Awkward.  |
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So basically they want a loan modification, just like anyone who wanted one back in 2008, but very few got it.
The question is, if they have no way paying it, the modification of their debt still become debt imo.
Not if it's viable. The key here is the debt viability. With a GDP that it's about 25% less than what it was 5 years ago, with taxes up to 40% for every business, with people starving and try to live with the pensions of grandfathers and grandmothers there will be no progress. Not to mention that the debt was institutionalized and transferred from the private sector to the public sector. Viability is key. |
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This is just in from Yanis Varoufakis blog: Why we recommend a NO in the referendum – in 6 short bullet points
Posted on July 1, 2015 by yanisv
Negotiations have stalled because Greece’s creditors (a) refused to reduce our un-payable public debt and (b) insisted that it should be repaid ‘parametrically’ by the weakest members of our society, their children and their grandchildren
The IMF, the United States’ government, many other governments around the globe, and most independent economists believe — along with us — that the debt must be restructured.
The Eurogroup had previously (November 2012) conceded that the debt ought to be restructured but is refusing to commit to a debt restructure
Since the announcement of the referendum, official Europe has sent signals that they are ready to discuss debt restructuring. These signals show that official Europe too would vote NO on its own ‘final’ offer.
Greece will stay in the euro. Deposits in Greece’s banks are safe. Creditors have chosen the strategy of blackmail based on bank closures. The current impasse is due to this choice by the creditors and not by the Greek government discontinuing the negotiations or any Greek thoughts of Grexit and devaluation. Greece’s place in the Eurozone and in the European Union is non-negotiable.
The future demands a proud Greece within the Eurozone and at the heart of Europe. This future demands that Greeks say a big NO on Sunday, that we stay in the Euro Area, and that, with the power vested upon us by that NO, we renegotiate Greece’s public debt as well as the distribution of burdens between the haves and the have nots.
http://yanisvaroufakis.eu/2015/07/01/why-we-recommend-a-no-in-the-referendum-in-6-short-bullet-points/ |
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Tsipras has just addressed the country: The Greek PM is showing no signs of backing down on holding a referendum on Sunday, reports Helena Smith from Athens.
She is watching his address to the nation on live TV, and reports.
“After our proposal for a referendum better proposals have been put on the table,” he declares, adding:
“I never expected a democratic Europe not to give space and time [to hold the referendum]. It is a disgrace that we have these scenes of shame because they closed the banks precisely because we wanted to give the people the vote.”
“No does not mean rupture with Europe but return to a Europe with values,”he says.
“No means strong pressure for an agreement of social justice, that will punish [those who promote] corruption.”
“They say I have a supposed plan that if you vote No I will take you out of Europe, they are wrong.” http://www.theguardian.com/business/live/2015/jul/01/greek-debt-crisis-creditors-consider-next-moves-after-imf-default-live#block-5593f91ee4b03edf9cb7bd3e |
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The fact is that Greece is officially "bankrupt" even no one says it out loud. The disability of paying the IMF dose yesterday practically disables the IMF from lending to Greece from now on. Also, it fires back to the people in charge; who didn't predict such a scenario. It's a worldwide first. That's for sure, a bankruptcy within the Eurozone... I still believe the BTC rally will go on, regardless of the outcome  |
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I expect more of them to appear if we end up slipping into the low 250's or 240's. Somebody uber rich should send 'it' 2 or 3 BTC it'd be for the good of bitcointalk.org because then 'it' would surely want the price rise & the relentless trolling would stop. I think we even had old man gay porn recently . I suppose it's easy enough to apply 'THE LIST' though. Thanks for this macsga, great work as usual. Thanks. If the price rolls further down, I expect the Hell will break loose afaic the sockpuppet accounts. Fortunately, the mods have been kicking them on sight and make this list narrower. The top must have been on 29 of June. 10 of them (and I'm sure that I've missed some!)  |
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A new month, with a new List. Please update. Latest additions to The List as of 2015-07-01:robashen
bradleyj
LD50
TheRealistMassiah
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Received my payment and extra mbtcs gift. Also left some positive feedback for you. Thank you for your service.
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TA does not work in Bitcoin...
LOL... You don't really mean that, do you? |
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Living in Greece, I must tell you that nobody (literally) knows what today will bring. Many things had pointed to the "last minute deal" (hence my previous post) but that was not the case. Actually, the majority of the mass media circus here, have been reporting a deal while no deal is on the table. There was a proposal from Greek gov't about a haircut of a major amount of the debt and a new program excluding the IMF. No further news on that though, only a leaked document; so I don't expect anything significant without an official statement that certifies the info.
I will keep you posted if I have more news.
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LTC:USD has nearly tripled in anticipation of the block reward halving 50+ days from now. As a currency, it has zero actual use. Doesn't make much sense to me. The crash will be amusing but I won't pretend that I can time it. The market can stay irrational far longer than I can stay solvent. XMR:BTC went from .001x to .004x. BTC:USD went from 100s to $1000 and fell to a stable value in the $200s.
Clearly cryptocurrencies can overshoot their stable values by 2x or 4x or 20x. And you don't know which it's going to be until it's over.
Litecoin is a "noob trap" or "alternates for noobs". People brand new to cryptocurrency will load up coinmarketcap or a similar website, and they see Litecoin at #2 / #3 and see it is virtually identical to Bitcoin, so they figure a higher capitalization & volume than rest of the alternates indicates it is a better investment. This is why Litecoin has consistently always been able to go through pump and dumps. It's a great short term investment but long term... They could not be more wrong. As your post suggested - no one wants to be holding Litecoin the day when a serious alternate rivals Bitcoin. Right now no alternates really rival Bitcoin, beyond cheap clones like Litecoin and Doge, but that will change when one of the serious alternates develops products and services people need. Bitcoin itself is only 100,000 users after 6 years. You just need the one decent product and you will get more users than Bitcoin and the day that happens no one wants to be holding a hot potato like Litecoin. I think that most people using LTC as a fast "vessel" towards moving funds from one place to another. Generally speaking, the transactions with BTCs are a lot slower than those with LTCs. That may explain the prior pumps every time BTC is on the move. If you check historical data you will see that most of the times it was LTC (sometimes PPC & NMC also) that first moved, with BTC following. I *think* there was a text that presented this fact back in 2013, but I cannot really remember if it was an actual post here or an article on some crypto-coin site. |
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I'm headed here via Carra23:
Name: macsga
Posts: 3022
Activity: 924
Position: Legendary
Address: 14AZeFeVTwaZvrTcRGabcrjRnowoAG4vCQ
Preference: Full
Thanks for letting me participate in this great campaign.
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Good morning. Please update. Latest additions to The List as of 2015-06-30:sterokil
P2Pro
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I came to know from Huffingpost that German Chancellor Angela Merkel will be responsible for the Greece exit from the Euro zone , I do not know how far it is true, since Germany is the euro monetary union’s largest economy and, arguably, its most powerful voice on the international stage. With one decision of Angela Merkel, Greece fate would be either start again for good or end.
you have to understand that this right now is a classic political fight. the german goverment is trying to increase the pressure to the maximum. i honestly dont think that either the germans/eurozone nor greece is ready for maximum pain right now. it will be a huge blow to the euro and the eu and i doubt that we will just recover easily from it. Might I interfere, this is not a political fight; this is just politics. That's what those people do - produce nothing and just keep gaining time. Until the next elections. PS: There won't be a Grexit. Probably no referendum either. Deal tonight, before midnight (CET). |
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Regards to the ignore list which is most concerned about newbies, to be honest I found few more newbies are really professional and talented, if we see the technical discussion thread, there are lot of newbies who ask the great technical questions and offer the solutions for any problems regards to the Bitcoin and Blockchain technlogy. Those worthy newbies should given the green flag and raised to the upper level by the moderators.
If you'd read the OP, you would understand that this is not a newbie list. I'd indulge you to dive into and read it. |
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What we need to do is to get the word out to Greek businesses:
Pay your foreign suppliers with Bitcoin
How do they get the BTC? Cash seems in pretty short supply. They can transfer EUR within the country by bank transfer, but who'd accept that as payment? (Is there a market for IOUs backed by greek bank deposits yet? I wonder what the going rate would be...) You'd get cash by paying a premium: exchange 1000 Euros from your bank account to the account of Greek with 900 Euros paper cash. Then you'd take that cash and put in in the BTM in the North Athens bookstore in exchange for BTC. Or buy on localbitcoins.com. Not that easy when you're forced to withdraw only 60Eur per day just for your basic needs. Still the idea is legit and stands as an alternative but for other kind of "investors". There's a huge amount of money moved out of Greece since 2010. Those money are fully functional and could be used for buying BTCs. Then the process would work inside Greece from localbitcoins and/or P2P transactions. |
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