DailyMail : Greeks rushing to buy Bitcoins as the country considers taking drast

[batesresearch]

Nice article in the DailyMail:

Greeks rushing to buy Bitcoins as the country considers taking drastic legal action to block expulsion from the euro

http://www.dailymail.co.uk/news/article-3144175/Greeks-rushing-buy-Bitcoins-country-considers-taking-drastic-legal-action-block-expulsion-euro.html

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[ebliever]

Somehow I don't see a lot of downside risk in the price of bitcoin in the near term... 

[unamis76]

The Press subforum would be more suitable for this

Anyways, based on recent news, Greeks aren't massively adopting Bitcoin as some media outlets make believe. So many differing news, one doesn't know what to trust anymore

[batesresearch]

The Press subforum would be more suitable for this

Anyways, based on recent news, Greeks aren't massively adopting Bitcoin as some media outlets make believe. So many differing news, one doesn't know what to trust anymore

Apologies I wasn't aware of that sub forum, post here: https://bitcointalk.org/index.php?topic=1104304

[ebliever]

The Press subforum would be more suitable for this

Anyways, based on recent news, Greeks aren't massively adopting Bitcoin as some media outlets make believe. So many differing news, one doesn't know what to trust anymore

There is data in the article itself that indicates there _is_ a surge among Greeks buying bitcoin. Anyone have any additional data?

[RustyNomad]

If I was one of the 'lucky' Greeks i.e. one who has managed to draw most of my money from the bank before the controls were implemented, I would seriously look at buying some bitcoin. Who knows, the next step might be to make it illegal to hold more than xxxx in hard currency.

If the current problems in Greece happened two or three years from now I think we would have seen a big surge into bitcoin.

[Amph]

Somehow I don't see a lot of downside risk in the price of bitcoin in the near term... 

there is no reason for any fall, they were all pure fud

the problem with buying bitcoin in greece is thath they have few option and various exchange require id and their bank are basically closed(60 euro max is a joke)

so if all they credit card cannot ork anymore, how in the hell they will by bitcoin?

[ifightformerkel]

And so it begins, the rise of bitcoin.

And even when it dont it so, it is good for bitcoin promotion,
that the media is reporting about bitcoin.

[bryant.coleman]

If I was one of the 'lucky' Greeks i.e. one who has managed to draw most of my money from the bank before the controls were implemented, I would seriously look at buying some bitcoin. Who knows, the next step might be to make it illegal to hold more than xxxx in hard currency.

They (the Greek government) will not make it illegal to hoard hard cash. But if they are thrown out of the Eurozone, then all the Euro banknotes will have to be exchanged for banknotes from the new currency. And the government can impose a limit on the amount of money (in Euros), which can be exchanged per person.

[nextgencoin]

When did this forum become a Pump and Dump site?

I tried to suggest that Bitcoin is being pumped by stories about Greece that are actually pure speculation but I got moved while the pump it real good threads stay...

[ebliever]

When did this forum become a Pump and Dump site?

I tried to suggest that Bitcoin is being pumped by stories about Greece that are actually pure speculation but I got moved while the pump it real good threads stay...

Are we not allowed to have any positive news about bitcoin? And how does the data about ramped up Greek bitcoin site traffic cited in the article fit as "pure speculation"?

[alani123]

No one is rushing to buy bitcoin here.  I can't get why media report such false things.

[nextgencoin]

No one is rushing to buy bitcoin here.   I can't get why media report such false things.

Exactly......I think the interesting story here is Why is the media pushing that narrative?

Lazy reporting, or an agenda? I think some elites actually welcome a Greek collapse into debt hell. At best it's actualy a scare story to suggest that people are turning to Bitcoin cause they have lost all hope and are grabbing at straws type story. the truth is of the Greeks are doing anything they are probably buying Gold rather than Bitcoin.


http://fortune.com/2015/06/29/bitcoin-price-hike-greece-grexit/

[yayayo]

If I was one of the 'lucky' Greeks i.e. one who has managed to draw most of my money from the bank before the controls were implemented, I would seriously look at buying some bitcoin. Who knows, the next step might be to make it illegal to hold more than xxxx in hard currency.

They (the Greek government) will not make it illegal to hoard hard cash. But if they are thrown out of the Eurozone, then all the Euro banknotes will have to be exchanged for banknotes from the new currency. And the government can impose a limit on the amount of money (in Euros), which can be exchanged per person.

That doesn't make any sense. Greeks would just informally accept Euro or cross the border and exchange unlimited amounts (if they wanted at all).

I doubt that Bitcoin's recent rise is the result of Greeks buying the currency (maybe a few did with via online banking, but that's now deactivated as well) - instead I think it's the result of the psychological effect of worldwide reporting on Greece's default.

ya.ya.yo!

[nextgencoin]

When did this forum become a Pump and Dump site?

I tried to suggest that Bitcoin is being pumped by stories about Greece that are actually pure speculation but I got moved while the pump it real good threads stay...

Are we not allowed to have any positive news about bitcoin? And how does the data about ramped up Greek bitcoin site traffic cited in the article fit as "pure speculation"?

Edit: The daily mail link seems to of closed. If the 'facts' are similar to the facts in this CNN article. then actually an increase in traders in Bitcoin is inevitable, ALL THE EXCHANGES will have a flood of traders at the moment.....from all countries. That dose t prove new buyers from Greece it just proves more people are trading who already are traders.

http://money.cnn.com/2015/06/29/technology/greece-bitcoin/index.html



You need a fake story from the mainstream news to feel good about Bitcoin? How about you feel good about a Bitcoin cause it's Bitcoin? The reporting from CNN for example if you comb through it actually is subtly negative about Bitcoin anyway. This more factually based story makes clear Greeks aren't buying Bitcoin. If you need fantasy in your life then can I suggest D&G.

http://fortune.com/2015/06/29/bitcoin-price-hike-greece-grexit/

[adzino]

And there's nothing magic about federal fiat currencies - in fact, as the Greek system shows, if that government can close the banks it was never really "your money" at all.

[HarHarHar9965]

Greeks are not rushing to buy bitcoins at all, and why would they even? You think they would adopt bitcoin as their economy? For what? Why would a person risk their savings right now and lose them as price keeps fluctuating? Who would invest all of their money in something like this? They are going through all this as they are unable to pay debt as it is higher than the price of the euro. You think they will invest in bitcoin which will be bound to increase its price value by 55 times just after Greece decides to adopt it? BULLSHIT.

[HigsonPP]

That is a complete lie, Greece citizens will never dot hat as they don't have the right capital to invest in bitcoin either way. The best advise for them is to save as much money as they can and keep hoping that things go well for them in the near future. It can certainly be a very tough time for the people living there. Buying bitcoins would be stupid in Greece!

[dblink]

The President of the Institute for Economic and Industrial Studies Yannis Stournaras said: "We are a poor country with rich people. And these rich do not pay taxes because there is no political will to do so. The clienteles system continues to act here. Interests of politics and business are closely related, so politicians do not want to change things." 

[Amph]

also buying bitcoin right now will only help dumpers to dump, if greece's citizens think that buying bitcoin in bulk, it will start a chain reaction, where many other will join the train and start buying, so they can dump later and be rich, they are only deluding themselves

the bitcoin price is rising not because greece is buying, but because of the hype, nothing else