Bank holiday in Greece

[Darude Sandstorm]

but the news and reports from exchangers shows that there is an increased interest towards bitcoin by Greece people.
Bitcurex got flooded with emails from Greeks.

Among their questions:
"Is Bitcoin a legal currency in EU?"
"Can I use Bitcurex as a bank account?"
"Do you have a Bitcoin ATM network in Greece?"

That's actually interesting to see that some of them are looking into bitcoin. I still think bitcoin is very risky for people to put their entire money into but bitcoin could become an alternative way to store wealth outside of the mainstream and could actually save people money from crises like this.

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[Herbert2020]

but the news and reports from exchangers shows that there is an increased interest towards bitcoin by Greece people.
Bitcurex got flooded with emails from Greeks.

Among their questions:
"Is Bitcoin a legal currency in EU?"
"Can I use Bitcurex as a bank account?"
"Do you have a Bitcoin ATM network in Greece?"

That's actually interesting to see that some of them are looking into bitcoin. I still think bitcoin is very risky for people to put their entire money into but bitcoin could become an alternative way to store wealth outside of the mainstream and could actually save people money from crises like this.

especially when your government blocks your accounts and closes the banks so people don't have access to their own money.
but unfortunately bitcoin is not yet reached the stage that can be considered a somewhat safe investment because of the highly volatile price.

[LiteCoinGuy]

[TKeenan]

but the news and reports from exchangers shows that there is an increased interest towards bitcoin by Greece people.
Bitcurex got flooded with emails from Greeks.

Among their questions:
"Is Bitcoin a legal currency in EU?"
"Can I use Bitcurex as a bank account?"
"Do you have a Bitcoin ATM network in Greece?"

That's actually interesting to see that some of them are looking into bitcoin. I still think bitcoin is very risky for people to put their entire money into but bitcoin could become an alternative way to store wealth outside of the mainstream and could actually save people money from crises like this.

especially when your government blocks your accounts and closes the banks so people don't have access to their own money.
but unfortunately bitcoin is not yet reached the stage that can be considered a somewhat safe investment because of the highly volatile price.

It is actually far, far worse than this.  It is not that people don't have access to their money, its that their money is now gone.  Soon, they will get a nice letter saying their 30,000Euros is now 30,000 dracma.  Then, their 30,000 Dracma will be enough to buy a ham sandwich and a soda.  The government took the money away.  It is now gone.  'Capital controls' is just a bullshit term for 'you got robbed'.

[baby222]

Yes, the banks are closed in greek till 7 july now. Greece is due to make a €1.6bn (£1.1bn) payment to the International Monetary Fund (IMF) on Tuesday - the same day that its current bailout expires. I think greece is close to a risky default and an exit from the euro party.

Holy crap in till the 7th of july how could people operate like that, business could get easily robbed holding cash for a week, and given the current situation if the country turns into economic chaos god riots and all that drama could burst out all over.

The Greek government has been expecting civil unrest ever since they decided to lower the daily limit people are allowed to withdraw from ATMs to 20 Euros. That could lead to lots of people going hungry and large numbers of hungry people spells trouble.

wow that just plain nuts, well hope the 11 million Greeks dont let their government just plain abuse them of their rights and hard earn money, when hunger begins then things turn crazy.

may god bless the Greeks and keep them safe.

[LiteCoinGuy]

but the news and reports from exchangers shows that there is an increased interest towards bitcoin by Greece people.
Bitcurex got flooded with emails from Greeks.

Among their questions:
"Is Bitcoin a legal currency in EU?"
"Can I use Bitcurex as a bank account?"
"Do you have a Bitcoin ATM network in Greece?"

That's actually interesting to see that some of them are looking into bitcoin. I still think bitcoin is very risky for people to put their entire money into but bitcoin could become an alternative way to store wealth outside of the mainstream and could actually save people money from crises like this.

especially when your government blocks your accounts and closes the banks so people don't have access to their own money.
but unfortunately bitcoin is not yet reached the stage that can be considered a somewhat safe investment because of the highly volatile price.

It is actually far, far worse than this.  It is not that people don't have access to their money, its that their money is now gone.  Soon, they will get a nice letter saying their 30,000Euros is now 30,000 dracma.  Then, their 30,000 Dracma will be enough to buy a ham sandwich and a soda.  The government took the money away.  It is now gone.  'Capital controls' is just a bullshit term for 'you got robbed'.

but people dont realize that yet....because: 




or:  they will get a nice letter saying their 30,000 Euros is now 3000 Euros.

[Argwai96]

I wonder what would the Greeks will do when the value of their money depreciates to such extent that no one wants to take cash for any product what so ever, would they turn to the dollar? or will bitcoin be the best alternative.

[chrisvl]

There are a coin named Hellascoin after the limitations of banks and the events in Greece their price and demand has considerably increased
It is accepted by many companies include and hotel http://www.ibtimes.co.uk/hellascoin-greek-bitcoin-rival-doubles-value-grexit-looms-1508480

[Argwai96]

There are a coin named Hellascoin after the limitations of banks and the events in Greece their price and demand has considerably increased
It is accepted by many companies include and hotel http://www.ibtimes.co.uk/hellascoin-greek-bitcoin-rival-doubles-value-grexit-looms-1508480

im not sure an altcoin would be a solution for greeks to invest in, bitcoin is not that well known in greece now an altcoin is far beyond that, if the proper bitcoin promoter step in to promo bitcoin has an alternative means maybe a good percentage of business and investment directed people would look into it.

[Beliathon]

There's a double standard to this bank closure that I don't think has been mentioned around here yet. Anyone with a foreign bank account is exempt from the 60 euro withdrawal limit.

Now this has a political significance that I'll briefly touch upon. It's one of many instances of the new double legal system: one for the transnational 1% and another for the rest who are trapped within a single national economy.

Wow, that's fucked, but thank you for sharing this. Good thing everybody has bitcoin.

[TKeenan]

but the news and reports from exchangers shows that there is an increased interest towards bitcoin by Greece people.
Bitcurex got flooded with emails from Greeks.

Among their questions:
"Is Bitcoin a legal currency in EU?"
"Can I use Bitcurex as a bank account?"
"Do you have a Bitcoin ATM network in Greece?"

That's actually interesting to see that some of them are looking into bitcoin. I still think bitcoin is very risky for people to put their entire money into but bitcoin could become an alternative way to store wealth outside of the mainstream and could actually save people money from crises like this.

especially when your government blocks your accounts and closes the banks so people don't have access to their own money.
but unfortunately bitcoin is not yet reached the stage that can be considered a somewhat safe investment because of the highly volatile price.

It is actually far, far worse than this.  It is not that people don't have access to their money, its that their money is now gone.  Soon, they will get a nice letter saying their 30,000Euros is now 30,000 dracma.  Then, their 30,000 Dracma will be enough to buy a ham sandwich and a soda.  The government took the money away.  It is now gone.  'Capital controls' is just a bullshit term for 'you got robbed'.

but people dont realize that yet....because:  




or:  they will get a nice letter saying their 30,000 Euros is now 3000 Euros.

If they get this letter they should be very happy.  Getting 10% of what they had would be a great result.  The more likely result is they will get 1:100.  Leaving the Euro was spectacularly dumb.  Having Germany as a big brother to buy all of your worthless shit while extending the right to go anywhere in Europe to work was a huge gift.  Now, Greece has nothing but 20 years of some very serious misery to look forward to - all because of one young ambitious PM who thought he could stare down the Germans to make them pay for Greeces' mistakes.  Opps!!!  Big fucking profound - oooopsss!  Merkel is way too smart to fall into that trap.  The germans didn't get where they are by having dumb ass Greeks trying to play tricks and pull the wool over.  Germans know how to see that silly kind of bullshit a kilometer away.  Greece so over-plated their card is ridiculous.  The price in suffering is going to suck.

The only one I'd like to hear on this point is Antonopolis.  He is a smart fucker and a Greek.  I wonder what he has to say about the Greek PM and the economic nightmare which is now coming due to the Germans saying: 'get lost'.  That would be an interesting commentary.

[Rub3n]

If i would not have that much capital i would have putted it in BTC or gold instead of euro's for sure if i would live there.

[deliciousowl]

There's lots of indicators that Bitcoin is becoming more and more popular in broken, and breaking economies.

Source: https://www.linkedin.com/pulse/cnn-greeks-rushing-bitcoin-filip-martinka

Hopefully soon it can be a preventative, rather than a palliative.

[botany]

Yesterday, nearly everyone in Greece was cut off from their money.  Even if you have 5 million euros in the bank, you are now stuck with 60Euros per day.  An irresponsible government, took money away from the people.  

Now do you think bitcoin is powerful?  People who had 5 million in bitcoin yesterday - still have 5 million today.  No stupid government rule is going to change that situation.  

Now go ask the millions of greeks with no money if they like Bitcoin.  As of today, nobody understands Bitcoin more than the Greeks.  

This probably is one of the drivers of Bitcoin's price rally.
People who had 5 million euros buried under their pillow, would still have 5 million euros today. It is a problem with the banks, not the currency. If you have bitcoin banks set up tomorrow, you will still face these problems (capital control, government intervention, etc).

[Fullbuster]

Poor Greece if they would completely collapse as a country?

[deliciousowl]

This probably is one of the drivers of Bitcoin's price rally.
People who had 5 million euros buried under their pillow, would still have 5 million euros today. It is a problem with the banks, not the currency. If you have bitcoin banks set up tomorrow, you will still face these problems (capital control, government intervention, etc).

People who have 5 million Euros under their pillow don't sleep very well. And especially not if it's denominated in the Argentine peso.

This probably is one of the drivers of Bitcoin's price rally.
People who had 5 million euros buried under their pillow, would still have 5 million euros today. It is a problem with the banks, not the currency. If you have bitcoin banks set up tomorrow, you will still face these problems (capital control, government intervention, etc).

What the hell is a "Bitcoin bank" ?

[nextgencoin]

Yesterday, nearly everyone in Greece was cut off from their money.  Even if you have 5 million euros in the bank, you are now stuck with 60Euros per day.  An irresponsible government, took money away from the people.  

Now do you think bitcoin is powerful?  People who had 5 million in bitcoin yesterday - still have 5 million today.  No stupid government rule is going to change that situation.  

Now go ask the millions of greeks with no money if they like Bitcoin.  As of today, nobody understands Bitcoin more than the Greeks.  

This probably is one of the drivers of Bitcoin's price rally.
People who had 5 million euros buried under their pillow, would still have 5 million euros today. It is a problem with the banks, not the currency. If you have bitcoin banks set up tomorrow, you will still face these problems (capital control, government intervention, etc).

the difference would be IF the bank was run on a principle of 1btc deposited,  1btc lent then the bank would actually have the money and not collapse of even everyone took their money out, the bank would simply wait till people were calm again and deposited money again. THE PROBLEM IS THE BANKS DONT HAVE MUCH MORE THAN 5% OF PEOPLES MONEY!! 

[grendel25]

Yesterday, nearly everyone in Greece was cut off from their money.  Even if you have 5 million euros in the bank, you are now stuck with 60Euros per day.  An irresponsible government, took money away from the people.  

Now do you think bitcoin is powerful?  People who had 5 million in bitcoin yesterday - still have 5 million today.  No stupid government rule is going to change that situation.  

Now go ask the millions of greeks with no money if they like Bitcoin.  As of today, nobody understands Bitcoin more than the Greeks.  

Bitcoin could be the first successful digital currency insurrection if the devs behind it are fully behind continuing to build the infrastructure in Greece.  But ultimately, the same thing that caused Greece's demise in fiat could be just as failure prone in Bitcoin.  Bitcoin might be nice for the few who can attain it but there would still be millions without it and that's not really a success.

[ThEmporium]

Really very pathetic, please read the cries and hues of the people in Greece http://www.theaustralian.com.au/business/greek-banks-close-as-cash-machines-run-dry/story-e6frg8zx-1227419442216

“How can something like this happen without prior warning?” asked Angeliki Psarianou, a 67-year-old retired public servant, who stood in the drizzle after arriving too late at one empty ATM in the Greek capital. “I want Tsipras to tell me how I am going to make it through the week with €10 in my bag with rent coming up. It has never been as bad as this.”

[countryfree]

Really very pathetic, please read the cries and hues of the people in Greece http://www.theaustralian.com.au/business/greek-banks-close-as-cash-machines-run-dry/story-e6frg8zx-1227419442216

“How can something like this happen without prior warning?” asked Angeliki Psarianou, a 67-year-old retired public servant, who stood in the drizzle after arriving too late at one empty ATM in the Greek capital. “I want Tsipras to tell me how I am going to make it through the week with €10 in my bag with rent coming up. It has never been as bad as this.”

How can a 67-year old man be that stupid? Still renting at retirement age, with only €10 in his wallet? I have never met someone so dumb. Most Africans are smarter. Since he was a public servant, I fully understand the mess the country is in.