If Greece leaves Euro - effect on BTC?

[#Darren]

Sorry to as a question which has probably been discussed often, but I have been absent from the forum for a while.

What effect do you all think Greece leaving the Euro might have on btc's fiat trading value?

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[Mayer Amschel]

It will moon, as will the Dollar and Ruble.

Euro will fall.

- Mayer Amschel

[Amph]

the only downside, would be that greece exiting would be followed by other countries that were planning to exit, all this may cause a chain reaction, that could bring down the euro, thus raising usd value and possibile bitcoin too

but it is not so straight forward that if greece will leave other will follow, just pure guessing at this point

this should be on economy or speculation board though...

[Mayer Amschel]

the only downside, would be that greece exiting would be followed by other countries that were planning to exit, all this may cause a chain reaction, that could bring down the euro, thus raising usd value and possibile bitcoin too

but it is not so straight forward that if greece will leave other will follow, just pure guessing at this point

this should be on economy or speculation board though...

Ow, never even thought of a chain reaction, it makes sense.

We could be seeing more volatility in world markets more frequently.

#Grexit all the way.

- Mayer Amschel

[cryptojumper]

I don't think Euro will crash. Why do we need weak countries like Greece in eurozone anyway... There might be a temporary drop in Euro value because of panic and speculators, but in the long run it's only for good. That said, I don't think it has anything to do with bitcoin price at all..

[Ruckspin]

What effect do you all think Greece leaving the Euro might have on btc's fiat trading value?

Nothing unless Greek's start putting the money into bitcoin en masse.

[JPage]

I don't think Euro will crash. Why do we need weak countries like Greece in eurozone anyway...

When Europe sheds their lowest performer economically, the value of the system should increase rather than decrease. 

[Daniel91]

I also think that effect on BTC will not be big because there is no direct connection between Greece and BTC.
Also, Euro and Bitcoin are not in the same market.
Of course if Greece choose to replace Euro with BTC everything will change dramatically but we don't see such announcements from leading Greek politicians.
They still trying to stay in Euro zone or in the worst scenario ring back their old currency- drachma.
Too bad really, this was a unique opportunity for Greece's political elite to make a real turnaround in their fiscal policy and move to the right alternative- bitcoin.

[randy8777]

it's hard to predict, but those who want their money to be safe are wise to buy bitcoin. if they go back to their old currency it will be a big disaster for them. i would definitely get myself bitcoin if i were a greek.

[Morecoin Freeman]

I expect exaggerated expectations. Probably nothing will happen.

[spiderbrain]

I think it's good for bitcoin because bitcoin is a useful way to make capital controls moot, and anything that makes fiat currencies less trustworthy only makes bitcoin more appealing. 

[Herbert2020]

if Greece decides on leaving the Euro behind , i think it might have small effect or near none effect on bitcoin's price. but the dollar will be effected obviously by this.

[cellard]

What effect do you all think Greece leaving the Euro might have on btc's fiat trading value?

Nothing unless Greek's start putting the money into bitcoin en masse.

How many addresses are from Greece? is there a way to know? it would be the only way to try to guess what the impact would be. I guess in Greece is still like everywhere else: just people into economics+geeks are into BTC and would know what to do. So i dont expect a big impact simply because most people are clueless. It only takes a couple whales that know how to use it tho, to get the price up, we dont necessarly need masses.

[arvis]

Turmoil in world financial markets is good for bit coin.
But I don't see the Greek crisis ending quickly

[NUFCrichard]

It will moon, as will the Dollar and Ruble.

Euro will fall.

- Mayer Amschel

I think Bitcoin rises, Euro falls then rises, much like bitcoin after Silk Road went down.
Removing the weakest link from a currency should only make it stronger.  There is almost no reason why it should fall when the average strength of the economies involved is increased!

Therefore the USD and others would fall in comparison.

[Wexlike]

No effect at all. Greece is far behind when it comes to technogical progress and awarness.

But trader will trade according to the news.

[manselr]

Turmoil in world financial markets is good for bit coin.
But I don't see the Greek crisis ending quickly

What's for sure is on the 30th they'll not pay, therefore, they'll give them 6 more months of fucking around.. and it should get solved, should. If it doesn't, it would be more against the interest of the EU than it is against the Greek's. Once a country leaves the EU, the Brussels treaty is broken, so you can expect anything... they keep reforming it tho, it's a joke.

[Pab]

 Yes it will,only yesterday after positive news about agreement Greeks have withdraw 900 mln euro from banks

If will be Grexit than euro may fail and much more is german banks invested in derivatives

Now many people see that current financial system based on debts very dengerous and no working anymore

There are some talks to make commecial banks be only financial services,but you know,it cant be done without fight
Polish banks already suspended polish exchanges banks accounts,that is also Greece effect,fear is all around

[cryptojumper]

if Greece decides on leaving the Euro behind , i think it might have small effect or near none effect on bitcoin's price. but the dollar will be effected obviously by this.

It's more if EU leaders decide that Greece is no longer welcome since leaders of Greece seem too arrogant for the position in which their country is right now.. Why other countries have to pay them if they lived for years way above what they really earned and were increasing the dept. They still live better nowadays than those post soviet countries in EU for example..
Anyway, little to no effect on BTC price, I am sure of it.

[Zorrocoin]

If Greece adopts bitcoins, the price will go up, other than that don't see much happening.

[sniveling]

if Greece decides on leaving the Euro behind , i think it might have small effect or near none effect on bitcoin's price. but the dollar will be effected obviously by this.

Bitcoin is generally either priced in dollars or yuan. There are exchanges offering euro markets but their volume is insignificant compared to the big two currencies. If the euro falls against the dollar because of a grexit then Europeans get more euros for selling their Bitcoins, but it costs them more euros to buy Bitcoins. That might encourage them to sell rather than buy, to a limited extent.

[NeuroticFish]

Greece will not leave (nor get kicked out of) EU yet.
But IF that WOULD happen, I expect that Euro will also get hurt a lot. And not only me will expect that.
The result will be that Bitcoin and USD will gain quite some %.

[randy8777]

Greece will not leave (nor get kicked out of) EU yet.
But IF that WOULD happen, I expect that Euro will also get hurt a lot. And not only me will expect that.
The result will be that Bitcoin and USD will gain quite some %.

us dollar already gained quite a bit against the euro. i don't think it will gain even more since it might be destructive when the value of the euro falls below 1.00 if that happens prepare yourself for a lot drama.

[NeuroticFish]

us dollar already gained quite a bit against the euro. i don't think it will gain even more since it might be destructive when the value of the euro falls below 1.00 if that happens prepare yourself for a lot drama.

USD gained (and will gain even more) vs Euro for completely other reason. For some months EU central bank is printing money. A lot of money.
Meanwhile US is slowly getting out of circulation parts of the huge amounts of money they've printed in the past years.
So EUR dropping under USD is not that unexpected.

[Q7]

Nothing can be predicted at the moment because generally I would say that though the people are quite concerned about how they could protect their money but they haven't really find a way to overcome that, and even with bitcoin there, they still haven't fully buy in to adopt bitcoin. We might see the price rally a bit but the increase could be driven by current btc holders and not newcomers. 

[ausbit]

Kim dotcom seem to think it may have a big effect on bitcoin and gold.
http://cointelegraph.com/news/114629/kim-dotcom-says-greece-will-crash-market-buy-bitcoin-and-gold

[cryptojumper]

Kim dotcom seem to think it may have a big effect on bitcoin and gold.
http://cointelegraph.com/news/114629/kim-dotcom-says-greece-will-crash-market-buy-bitcoin-and-gold

Can't find any arguments there why should problems of Greece crash the stock markets or have any influence on bitcoin price at all..

[ausbit]

Kim dotcom seem to think it may have a big effect on bitcoin and gold.
http://cointelegraph.com/news/114629/kim-dotcom-says-greece-will-crash-market-buy-bitcoin-and-gold

Can't find any arguments there why should problems of Greece crash the stock markets or have any influence on bitcoin price at all..

I agree, i think he is kinda betting on a long shot with this prediction.
I dont think it would have a negative effect on bitcoin so always worth holding and seeing how this thing plays out.

[masterluc]

Greece will not leave (nor get kicked out of) EU yet.
But IF that WOULD happen, I expect that Euro will also get hurt a lot. And not only me will expect that.
The result will be that Bitcoin and USD will gain quite some %.

USD may get a gain OR Bitcoin may get. But not both at a time - they are opposite.

[MF Doom]

If Greece adopts bitcoins, the price will go up, other than that don't see much happening.

I doubt any country is going to officially "adopt" btc.  BUT, I just heard Ron Paul say that a candidate for  French president is considering leaving the Euro as well, if things like this continue to happen, THEN there may be enough momentum in europe for a new currency that btc could become a viable option.  Could happen sooner than we think!

[srgkrgkj]

If Greece adopts bitcoins, the price will go up, other than that don't see much happening.

I doubt any country is going to officially "adopt" btc.  BUT, I just heard Ron Paul say that a candidate for  French president is considering leaving the Euro as well, if things like this continue to happen, THEN there may be enough momentum in europe for a new currency that btc could become a viable option.  Could happen sooner than we think!

many small economies in eastern europe may soon "swtich" over to btc or some other from of crypto but the big ones like cvhina and the US cant sustain a economy with Bitcoin as the primariy money substitute...

[MF Doom]

If Greece adopts bitcoins, the price will go up, other than that don't see much happening.

I doubt any country is going to officially "adopt" btc.  BUT, I just heard Ron Paul say that a candidate for  French president is considering leaving the Euro as well, if things like this continue to happen, THEN there may be enough momentum in europe for a new currency that btc could become a viable option.  Could happen sooner than we think!

many small economies in eastern europe may soon "swtich" over to btc or some other from of crypto but the big ones like cvhina and the US cant sustain a economy with Bitcoin as the primariy money substitute...

Do you have any sort of actual evidence of this happening?  It seems like a lot of people would have to act in unison to really start using btc day to day, and make it so people aren't constantly just converting to fiat.  I think it would be great if adoption picks up more with the many currency crises, but its going to take a concentrated effort by THE PEOPLE to really make it happen, I would hold no faith in any gvt to make this happen...

[ausbit]

If Greece adopts bitcoins, the price will go up, other than that don't see much happening.

I doubt any country is going to officially "adopt" btc.  BUT, I just heard Ron Paul say that a candidate for  French president is considering leaving the Euro as well, if things like this continue to happen, THEN there may be enough momentum in europe for a new currency that btc could become a viable option.  Could happen sooner than we think!

many small economies in eastern europe may soon "swtich" over to btc or some other from of crypto but the big ones like cvhina and the US cant sustain a economy with Bitcoin as the primariy money substitute...

What a load of shit, most small countries don't even know much if anything about btc or other cryptos and have no plan to start using them as a national currency.
In a recent servey something like about 50% of American citizens said they would never use bitcoin.

[ammy009]

no, if Greece leaves Euro then there is no effect on BTC ......... but .......
if Greece adopts BTC then the price of BTC will rise ......

[mjosephs]

[Cluster2k]

I guess we have the answer.

Q:  What effect does Greece leaving the Euro have on bitcoin's value?

A:  None

The price went up slightly in anticipation of a Grexit, but we've seen many such rises before.  It's obviously driven by people outside of Greece buying bitcoins in anticipation of the Greeks wanting them, but if you're the average Greek who has to buy food, fuel, and shelter which would you want right now: Euros or bitcoins?

I think the answer is obvious.

[elux]

I guess we have the answer.

Q:  What effect does Greece leaving the Euro have on bitcoin's value?

A:  None

History may find your verdict extremely premature.

This terrible situation validates the core concept of Bitcoin.

Because, Bitcoin will not shut down on Monday.

Bitcoin is money beyond the reach of politics.

Money that cannot be censored or confiscated at will.

An alternative that is always there, and just keeps going.

Under adversarial conditions. Indeed, under any conditions.

Come monday, all Greek banks will be closed.

And Bitcoin will be open for business.

On Monday, and every day, in Greece and everywhere, 24/7.

So, it falls on Greeks citizens and Greek companies to make do with any one of three options.

Cash, or barter, or Bitcoin.

And almost all Greeks will choose cash and barter, but Bitcoin will be there.

And when the world comes crashing down,

Bitcoin is the better option.

And so, the great deluge begins with a trickle.

[DieJohnny]

nothing

nobody will look to bitcoin unless the dollar shows weakness

[photon_coin]

Greece leaving the euro may have an impact on the tax payers of the countries who hold the most debt from there, probably Germany maybe France, i cannot see this as even related to the btc economy really directly though

[Cconvert2G36]

Greece leaving the euro may have an impact on the tax payers of the countries who hold the most debt from there, probably Germany maybe France, i cannot see this as even related to the btc economy really directly though

It's not. But neither was Cyprus. It does make people think about where and how all their paper wealth is stored.

[Biodom]

Bitcoin is not a salvation for greeks at the moment, but it might be different in the future.
As far as greeks are concerned, just imagine how terrible would you feel if the money you had in the bank is suddenly unavailable to you, as it is to greeks.
euro 60/day from tuesday sounds more like an allowance than anything else. Greeks rights are certainly trampled (hopefully, only for a short while).
I think that both parties in the negotiation behaved inappropriately, and that's a tragedy.

Short term-no or marginal effect on btc.

[Amph]

nothing

nobody will look to bitcoin unless the dollar shows weakness

and even then they will look at euro, or some other fiat, i don't remember the strongest after euro, so bitcoin will not be their first choice unless the whole centralized economy collapse, and surely will not happen overnight will the Grexit

also if someone really think that a poor country like Greek with all the problems that they have about their economy, will start to buy bitcoin and to rise the price to permit that at random strangers or early adopters to dump it afterward, you are only fool yourself

[jenifer0012]

Greece leaving Euro and adopting bitcoin shouldn't have a drastic effect on the bitcoins imo. Though with the decline of faith in fiat money, the bitcoins will be appreciated more. Greece adopting bitcoins will only result in the rise in prices of the bitcoins!

[panju1]

Greece leaving Euro and adopting bitcoin shouldn't have a drastic effect on the bitcoins imo.

Greece adopting Bitcoin is just not possible. The people may prefer it, but the government can't implement it officially. It is broke, it just cant buy bitcoins. 

[moneyflow]

Greece leaving the euro, without any doubts will have a VERY positive effect on the BTC.
1. it will encourage other nations to adopt bitcoin, in fact it will make nations which have banned bitcoins to change their minds and give bitcoin a try
2. bitcoin will become a true global currency over time
3. the rates of the bitcoin will rise with more people losing faith in fiat money and appreciating bitcoins

[wakasaki808]

If greece adopt btc as currency will be like tales history, with ponies and weed.

[vanobe]

Greece leaving Euro and adopting bitcoin shouldn't have a drastic effect on the bitcoins imo.

Greece adopting Bitcoin is just not possible. The people may prefer it, but the government can't implement it officially. It is broke, it just cant buy bitcoins. 

All the Greek government can afford to do is start printing Drachmas again if it stops using the Euro. It only needs to buy blank paper and ink. Buying Bitcoins would be immensely more expensive and would only work for computer literate people. Most countries, including Greece, have an aging population, many of whom are not computer literate.