Bank holiday in Greece

[TKeenan]

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.  

[BIT-Sharon]

Early last month, many rich people in Greek began to withdraw money from banks, for they are afraid of these things happen, however, it happens now. Government can't do anything worse than forcing people leave money to save economy.

[batesresearch]

genesis block : The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.

Think about it, Satoshi had the bailouts in mind on the day the genesis block was created. Maybe he was giving the world a tool to move away from all of what was causing this chaos, entrusting with a group of people that would hopefully help it grow and help conquer the evil of how our banks run and governments waste 

[NeuroticFish]

Just imagine what will happen if they return to Drahma and its value will drop to 25% within hours....


For current situation I don't really know what will happen with the companies the import food. How will they pay, because the money is not allowed to leave Greece.

[Amph]

centralization is dangerous, not having full control over your money is dangerous, you will never know what will happen, it may seems secure to hold money in banks, that those shit happen and you lost everything

what i think is that bitcoin feel more secure now than any other centralized or decentralized system, only gold can stand against it nothing else

people just confuse P&D with unsecure investment, the fact that bitcoin lose a big portion of its value, it does not mean that it is unsecure, it just mean that it can be very volatile because its market its tiny

[sana6801]

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.  

I think every one in Greece is expecting good news the extention of the loan get approved or the strict austerity measures are compromised by international creditors. Otherwise they will leave the Euro zone and fall into chaos. 

[afriezalie]

Now many people can withdraw their money from ATM and Banks, because banks are closed for a week. There are no customers for merchants right now and i read that they don't have supply in their gas stations. If this is right, it will be a bad moment for Greece. Never think that news from 2 years ago will be happened today. Pray for Greece

[lemoncoolers]

Just imagine what will happen if they return to Drahma and its value will drop to 25% within hours....


For current situation I don't really know what will happen with the companies the import food. How will they pay, because the money is not allowed to leave Greece.

I think Greece's business activities are stuck there. It will become worse day by day before any progress is made. Good luck with them!

[TKeenan]

Pray for Greece

Why pray for Greece?  You might as well flip a coin for Greece.  It will produce exactly the same effect. 

[TKeenan]

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.  

I think every one in Greece is expecting good news the extention of the loan get approved or the strict austerity measures are compromised by international creditors. Otherwise they will leave the Euro zone and fall into chaos.  

Thousands of old ex-government workers with fat pensions want to sit around and drink Uzzo rather than pay back that what they borrowed.  Germany doesn't like that plan so much.  Germany thinks those pensions were awarded to people who shouldn't get free money from an underperforming economy.  Germany thinks people get what they earn - not free money off someone else's work.  Germany is so mean.  This suffering is all Germany's fault. 

[Mellnik]

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.  

I think every one in Greece is expecting good news the extention of the loan get approved or the strict austerity measures are compromised by international creditors. Otherwise they will leave the Euro zone and fall into chaos.  

Thousands of old ex-government workers with fat pensions want to sit around and drink Uzzo rather than pay back that what they borrowed.  Germany doesn't like that plan so much.  Germany thinks those pensions were awarded to people who shouldn't get free money from an underperforming economy.  Germany thinks people get what they earn - not free money off someone else's work.  Germany is so mean.  This suffering is all Germany's fault. 

Are you dense? Germany gave several billions to Greek.

[randy8777]

Now many people can withdraw their money from ATM and Banks, because banks are closed for a week. There are no customers for merchants right now and i read that they don't have supply in their gas stations. If this is right, it will be a bad moment for Greece. Never think that news from 2 years ago will be happened today. Pray for Greece

don't know why anyone is surprised by this. people could have seen this comming for quite a while now. if people were smart, they would have moved their money 2 years ago.

[TKeenan]

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.  

I think every one in Greece is expecting good news the extention of the loan get approved or the strict austerity measures are compromised by international creditors. Otherwise they will leave the Euro zone and fall into chaos.  

Thousands of old ex-government workers with fat pensions want to sit around and drink Uzzo rather than pay back that what they borrowed.  Germany doesn't like that plan so much.  Germany thinks those pensions were awarded to people who shouldn't get free money from an underperforming economy.  Germany thinks people get what they earn - not free money off someone else's work.  Germany is so mean.  This suffering is all Germany's fault. 

Are you dense? Germany gave several billions to Greek.

Actually, 56 billion.  But who is counting?  Germany is greedy and their economy has loads of money.  Now Greek people want to sit around and have more free money - but the Germans aren't being fair about it.

[pooya87]

this only shows the usefulness of something like bitcoin, nobody can take that away from you because it is decentralized and you have complete control over your money. there is no government involved to seize your account or let you access it or not.

[ajareselde]

I agree with the part how useful bitcoin is in battling situations like these, but do you honestly think most of the Greek population even heard about bitcoin ? I doubt it.
Even tho google trends show increased interes in bitcoin, it is still far from levels it should be. Some other countries like Swiss show much more increased trending than the
country that is expected to.

And when it comes to impact on price, once again, you won't get increase from Greeks, as they have little or no money and savings, and even those
who do, are chained with limitations to their accounts.

cheers

[Anony]

Early last month, many rich people in Greek began to withdraw money from banks, for they are afraid of these things happen, however, it happens now. Government can't do anything worse than forcing people leave money to save economy.

Bank holiday given in Greece to hold money in bank itself,to overcome with the economy growth.
Greeks have been withdrawing billions of euros from their savings accounts in recent weeks which effect the economic growth.
Because in the absence of any increase in this so called Emergency Liquidity Assistance, the banks had no way to supply cash to Greek depositors who have been anxiously withdrawing their savings.

[Herbert2020]

I agree with the part how useful bitcoin is in battling situations like these, but do you honestly think most of the Greek population even heard about bitcoin ? I doubt it.
Even tho google trends show increased interes in bitcoin, it is still far from levels it should be. Some other countries like Swiss show much more increased trending than the
country that is expected to.

And when it comes to impact on price, once again, you won't get increase from Greeks, as they have little or no money and savings, and even those
who do, are chained with limitations to their accounts.

cheers

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?"

[greBit]

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.

[scarsbergholden]

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.

[ronald98]

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.