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Author Topic: Will Bitcoin 'save' Greece?  (Read 3375 times)
EternalWingsofGod
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July 01, 2015, 07:05:04 AM
 #21

At the minimums though there will be some capital flight into alternative investments now that the IMF payment is officialy defaulted.
While not technically in default (In arrears being the term presently used) I do not see the average Greek person wanting to keep their money in the Banking system.

The question that to me seems interesting is if they truly Bankrupt and do an Iceland perhaps they will see a real economic recovery instead of following the bank dogma of too big to fail, it's rarely mentioned but Iceland has made one powerful economic recovery since defaulting.

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July 01, 2015, 09:13:25 AM
 #22

must exit from the EU, and establish the Bitcoin Alliance!

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TinEye
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July 01, 2015, 11:44:14 AM
 #23

on the contrary, greece will help bitcoin , because other country will learn the lesson about what happened to their government, and and begin to adopt a more conservative approach toward their money, therefore holding money in bank, will lose priority, and other alternative will emerge for them, one of this alternative is definitely bitcoin



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AtheistAKASaneBrain
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July 01, 2015, 11:49:40 AM
 #24

on the contrary, greece will help bitcoin , because other country will learn the lesson about what happened to their government, and and begin to adopt a more conservative approach toward their money, therefore holding money in bank, will lose priority, and other alternative will emerge for them, one of this alternative is definitely bitcoin


Well lets see what Tsipras does. I think he will finally give up and start coping with the situation. He's on a dead end already, I don't think they have the balls to leave the Euro like that, let alone start officially using Bitcoin. I don't think any government is smart (or honest) enough to use BTC for their endeavors.
jenifer0012
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July 04, 2015, 04:04:55 AM
 #25

I don't expect a virtual currency like bitcoin to "SAVE" Greece and lift it up from the dirt it has pushed itself into. the fiat money has done a LOT of damage to their economy already and which cannot be healed using bitcoins. Also, bitcoin is a CURRENCY afterall. you don't pluck them from the clouds, you need to work for them and that is what's not happening in Greece.

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July 04, 2015, 04:22:21 AM
 #26

must exit from the EU, and establish the Bitcoin Alliance!
They wouldn't let Greece leave EU easily otherwise the Euro and European will be hit severely! If that happened, Greece would issue their own fiat currency, not bitcoin!
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July 04, 2015, 04:38:38 AM
 #27

Bitcoin cannot save Greece. As many people said in the forums, me included, Greece's problem is not currency... It's debt. Bitcoin wouldn't solve their problem!
Absolutely! Debt is just the surface of the issues they are facing. The inherence is that their economy is not running properly and producing value for then. So they keep borrowing money one by one! But it will never end if the underlying issues are not solved. I don't know whether the international creditors understand it. Just like one saying "teach poor how to fish instead of giving fish to them "!
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July 04, 2015, 07:25:47 AM
 #28

must exit from the EU, and establish the Bitcoin Alliance!
They wouldn't let Greece leave EU easily otherwise the Euro and European will be hit severely! If that happened, Greece would issue their own fiat currency, not bitcoin!

they are there about to exit, there is no more chances for them to recover, also i cannot understand how other country would be hit severally, i believe it's the contrary, the grexit will favor other countries that need money that they can return, not like greece that has defaulted

also remember that it's their government that decide, not the citizzens, so while the citizens may want bitcoin, their Gov will not follow a way for a decentralized currency
HarHarHar9965
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July 04, 2015, 07:29:35 AM
 #29

Bitcoin is a decentralized crypto-currency with very less collapse risk, easiest to carry and helps eliminate hefty bank transaction fees. It could save Greece, yeah..months back. Now Greece has already fucked itself up. Bitcoin can be of no possible aid at this moment to Greece, it could however help to avoid a little collateral damage but the arrangements and resources required for that to happen would be something Greece would never consider, neither should they.
greBit
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July 04, 2015, 09:41:13 AM
 #30

Bitcoin is a decentralized crypto-currency with very less collapse risk, easiest to carry and helps eliminate hefty bank transaction fees. It could save Greece, yeah..months back. Now Greece has already fucked itself up. Bitcoin can be of no possible aid at this moment to Greece, it could however help to avoid a little collateral damage but the arrangements and resources required for that to happen would be something Greece would never consider, neither should they.

Yeah man, it would have really put up a great huge bandaid over the bullshit which came its way, if government did anything regarding bitcoins in GReece but now, that shit doesn't matter. The shit is such enormous now, that its hit the fan. Its spread on the walls and the economy is covered with complete shit. The only way any conclusions could be drawn, would be to wait out for 3 more days. Major events happening Shocked
mayflor2
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July 04, 2015, 11:24:14 AM
 #31

Bitcoin, for Greece, a country going through a drastic economical decline, would be a ray of hope for it's people who, at the moment, don't have many options. The question that is whether the bitcoin will save Greece's econony or not is not difficult to answer. Nope it won't. the fiat money has failed it's people and bitcoins also need to be earned. I doubt people will be able to earn bitcoins.

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July 04, 2015, 11:32:49 AM
 #32

nope. the only thing that can save them is when all countries write off their debts for good, which means greece can have a new start. but that's not going to happen.
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July 04, 2015, 11:51:46 AM
 #33

Naked truth is, Bitcoin will not save, will not save, will not save Greece. Bitcoin is only a technology pertaining to digital currency, to implement this technology, proper planning is required and it cannot be made as National currency just in a day due to the bad impact on economy, Greece should move on and push them as it is, when something is falling out of your control, let it fall and let it go, think of you slipped from the rope, while hanging on cliff.
moneyflow
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July 04, 2015, 01:24:48 PM
 #34

Bitcoins will not be able to save greece. greece has gotten into a pit from which a virtual currency cannot pull it up. bitcoins are giving the greece public a sign of hope and rescue but i don't think that alone bitcoin will be able to heal the damage caused by the failed fiat money and the overall economy. the government needs to look for solutions. the only reason that people are relying so much on bitcoins there is that they don't have many options to choose from!
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July 04, 2015, 11:48:21 PM
 #35

Great article by Nick Szabo about how Bitcoin could realistically help the people in Greece "and other financially handicapped countries"
http://unenumerated.blogspot.ch/2015/07/the-greek-financial-mess-and-some-ways.html

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July 05, 2015, 12:14:23 AM
 #36

I think it is too late for Bitcoin to 'save' Greece, to buy into Bitcoin would require money and it seems that the people of Greece are sadly without money or a lot of it.  I would imagine / hope that there would have been a few that moved funds over into Bitcoin a few months ago and would be okay now but a wider adoption I think it might be a bit too far into the crisis.
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July 05, 2015, 07:15:18 AM
 #37

I think it is too late for Bitcoin to 'save' Greece, to buy into Bitcoin would require money and it seems that the people of Greece are sadly without money or a lot of it.  I would imagine / hope that there would have been a few that moved funds over into Bitcoin a few months ago and would be okay now but a wider adoption I think it might be a bit too far into the crisis.

not to mention that if they start buying bitcoin, they are actually helping bitcoin and not the contrary, the price won't start an up trend only because they begin to buy in big chunk

so greece buying bitcoin will not only not-save them but will enrich bagholder, which will be ready to dump at any time the price will be favorable for them
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July 05, 2015, 04:08:00 PM
 #38

Huh
What is your opinion about Bitcoin & Greece

What do you think?

I think it is too late for greece at this moment, it would be helpful earlier. Greece's problem is not currency right now, it is debt. Additionally, I would like to quote a person from the forum , '' If Greece had money bitcoin was unnecessary , if they didn't have money , bitcoin was unattainable''. So either way , Greece faces a problem.
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July 05, 2015, 04:30:38 PM
 #39

http://www.welt.de/finanzen/article143523147/Gold-ist-fuer-Griechen-nur-zweitbeste-Flucht-Waehrung.html
"Gold is only the second best Escape Currency for Greece" ... guess what is the first?
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July 05, 2015, 04:34:35 PM
 #40

Huh
What is your opinion about Bitcoin & Greece

What do you think?

I think it is too late for greece at this moment, it would be helpful earlier. Greece's problem is not currency right now, it is debt. Additionally, I would like to quote a person from the forum , '' If Greece had money bitcoin was unnecessary , if they didn't have money , bitcoin was unattainable''. So either way , Greece faces a problem.

You can't help Greece as a country with bitcoin, but you can help it's people, well at least those who have some money left, but judging by
unemployment rate, those are very rare at this point. Either way, it would be much better if bitcoin was explained to them before they got into this mess.

We will find out their destiny soon enough:
 "The first official projection of the result is expected at 9pm local time (19:00 BST) "


cheers
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