rayhan
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Activity: 378
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be your self
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July 09, 2015, 03:54:08 PM |
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Greece right now needs a savior . After it got drowned in the sea of debt , although it got lifted up and someone did swim it to the shore. It remains lost in the island of power games and currency. We all know that the very idea of imposing bitcoins on Greece is impractical , but somewhere Greece needs to do the things which are out of the box now to save its life.
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master sato
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July 09, 2015, 07:51:24 PM |
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if Greece could adopt bitcoins, it means that a lot of people from all over the world will suddenly want to inject their money into the Greek economy.
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saturn643
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July 09, 2015, 08:26:37 PM |
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Everybody holding bitcoins will be happy (this includes all the Greeks). But this may or may not lead to a crash of other currencies.
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bit1
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Activity: 938
Merit: 1000
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July 09, 2015, 08:43:32 PM |
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It could be the better opportunity to smallest countries and theirs citizens to get benefits buying BTC cheap.
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RappelzReborn
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July 09, 2015, 08:48:58 PM |
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It would if they was opened to it before but now after this issue they have , I don't think bitcoin will save them or anything else , basically they don't have enough companies or services that accepts Bitcoins like China or something , and they cannot buy for the moment since and as you said they can't withraw money from ATM . It's kinda hopeless if you ask me They had to think about it before it happens , because now it's simply late .
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arallmuus
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Activity: 2604
Merit: 1419
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July 09, 2015, 10:31:52 PM |
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plus there aren't enough resources where they can spend their bitcoins because not many places accept bitcoins till now
There isnt any country yet that has "enough resources" for you to spend your BTC either. This is the hard truth about BTC however if Greece was to adopt BTC then that could change as the whole country will be shifting to BTC but do note that this will not be the extreme solution for them because their problem will be pretty much unsolved already and there is a high risk of losing these by being hacked
BTC is not unhackable , every wallet that is connected to the network is not safe at all and it is pretty normal. The same thing with holding FIAT as you are exposing yourself to be robbed as well . |
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hZti
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July 09, 2015, 10:43:26 PM |
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The Greek problem can't be solved with money, it's a problem of their economic and politic structure, the only benefit for a greek to hold BTC is that nobody can take it from him or tell him how much he is allowed to spend. Same is with Cash so no real benefit there.
BUT whilst the EUR value is going down BTC is going up -> Not bad especially for the poor greek guy.
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Zorrocoin
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July 10, 2015, 02:38:57 PM |
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And how is a country supposed to just up and switch one day to using Bitcoin? It's very far off (if ever) what you are suggesting. At most, Bitcoin will help the few there who already knew about it - by not having their money locked in the bank. The People wouldn't know or care what you're talking about.
You are absolutely right. They cant all of a sudden accept bitcoin one day. Only is beneficial for people who might have already invested in it. Firstly they don't have anymore money to buy bitcoin,they can spend it in only limited places and they can be easily hacked so there is high risk |
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AtheistAKASaneBrain
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July 10, 2015, 02:46:55 PM |
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And how is a country supposed to just up and switch one day to using Bitcoin? It's very far off (if ever) what you are suggesting. At most, Bitcoin will help the few there who already knew about it - by not having their money locked in the bank. The People wouldn't know or care what you're talking about.
You are absolutely right. They cant all of a sudden accept bitcoin one day. Only is beneficial for people who might have already invested in it. Firstly they don't have anymore money to buy bitcoin,they can spend it in only limited places and they can be easily hacked so there is high risk If they did the network would crash for starters, or it would become extremely slow. The price would go to the moon because there's no liquidity, its a small market to run an entire economy under it. We need time, it will eventually be ready. |
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Mehek
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July 10, 2015, 03:16:19 PM |
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There are serious capital controls implemented in Greece right now: You can only withdraw €60 from your bank account in one day, and no overseas transfers. That's insane! If they'd switch to btc - then there would be no problems with protecting their savings. I mean, blockchain can't just close and say 'oh no, we aren't working today - come tomorrow' like banks in Greece currently do. Not really. I don't think Greece can be saved by buying bitcoins anymore. Firstly they dont have enough money to buy it and might not be aware of the opportunities . plus they dont have enough places to spend their bitcoins at even if they buy it and there is a chance that it may be hacked like hell |
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scott btc
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July 11, 2015, 12:22:19 AM |
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Can bitcoin really save Greece?
no Unfortunately...
Because the Bitcoin network cannot sustain the transactional flow that would be required for the daily commerce usage of a population of 11 million people right now.
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greBit
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July 11, 2015, 04:59:44 AM |
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There are serious capital controls implemented in Greece right now: You can only withdraw €60 from your bank account in one day, and no overseas transfers. That's insane! If they'd switch to btc - then there would be no problems with protecting their savings. I mean, blockchain can't just close and say 'oh no, we aren't working today - come tomorrow' like banks in Greece currently do. Not really. I don't think Greece can be saved by buying bitcoins anymore. Firstly they dont have enough money to buy it and might not be aware of the opportunities . plus they dont have enough places to spend their bitcoins at even if they buy it and there is a chance that it may be hacked like hell I'd agree to that, that is the exact point. So all these people who are talking like Bitcoin could be the savior Greece needs...eh, no. Greece can't afford Bitcoin, firstly. And the whole default situation took place because Greece could not really afford euro, you think they would be fine with bitcoin which will multiply 55 times just as they adopt it. I don't think they should doom themselves any further. |
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pitham1
Legendary
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Activity: 1232
Merit: 1000
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July 11, 2015, 05:07:59 AM |
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Can bitcoin really save Greece?
no Unfortunately...
Because the Bitcoin network cannot sustain the transactional flow that would be required for the daily commerce usage of a population of 11 million people right now.
Nope, you don't need people to necessarily use Bitcoin for transactional flows. If they are able to convert their savings into bitcoins and keep it away from the hands of bankers and government officials, Bitcoin has saved them. |
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ProfessionalGoogler
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July 11, 2015, 07:00:37 AM |
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Can bitcoin really save Greece?
no Unfortunately...
Because the Bitcoin network cannot sustain the transactional flow that would be required for the daily commerce usage of a population of 11 million people right now.
Nope, you don't need people to necessarily use Bitcoin for transactional flows. If they are able to convert their savings into bitcoins and keep it away from the hands of bankers and government officials, Bitcoin has saved them. Not only that, if the governments completely adapted Bitcoin, they would more than likely still use the same exact banking systems - or it would just appear that way to the common, but they would still understand they are using Bitcoin instead of the Euro. In that way, Bitcoin's network flow would not be any issue at all - even if Bitcoin had days delay instead of minutes to an hour. |
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Amph
Legendary
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Activity: 3220
Merit: 1069
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July 11, 2015, 07:09:33 AM |
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Can bitcoin really save Greece?
no Unfortunately...
Because the Bitcoin network cannot sustain the transactional flow that would be required for the daily commerce usage of a population of 11 million people right now.
Nope, you don't need people to necessarily use Bitcoin for transactional flows. If they are able to convert their savings into bitcoins and keep it away from the hands of bankers and government officials, Bitcoin has saved them. well bitcoin is here to be used, not to be cold storaged all day, if they convert they saving in bitcoin, then how can they will survive? they should dump at least a portion every day, and with the current limit the network will be queue to death... |
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ProfessionalGoogler
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July 11, 2015, 07:13:33 AM |
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Can bitcoin really save Greece?
no Unfortunately...
Because the Bitcoin network cannot sustain the transactional flow that would be required for the daily commerce usage of a population of 11 million people right now.
Nope, you don't need people to necessarily use Bitcoin for transactional flows. If they are able to convert their savings into bitcoins and keep it away from the hands of bankers and government officials, Bitcoin has saved them. well bitcoin is here to be used, not to be cold storaged all day, if they convert they saving in bitcoin, they how can they will survive? they should dump at least a portion every day, and with the current limit the network will be queue to death... Why couldn't they use the same banking system, and then just back it by Bitcoin? Not necessary for each individual to own a Bitcoin wallet, but rather still using a checking account where all the Bitcoin is stored in the bank - and most importantly - can be verified online. |
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Amph
Legendary
Offline
Activity: 3220
Merit: 1069
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July 11, 2015, 07:16:23 AM |
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Can bitcoin really save Greece?
no Unfortunately...
Because the Bitcoin network cannot sustain the transactional flow that would be required for the daily commerce usage of a population of 11 million people right now.
Nope, you don't need people to necessarily use Bitcoin for transactional flows. If they are able to convert their savings into bitcoins and keep it away from the hands of bankers and government officials, Bitcoin has saved them. well bitcoin is here to be used, not to be cold storaged all day, if they convert they saving in bitcoin, they how can they will survive? they should dump at least a portion every day, and with the current limit the network will be queue to death... Why couldn't they use the same banking system, and then just back it by Bitcoin? Not necessary for each individual to own a Bitcoin wallet, but rather still using a checking account where all the Bitcoin is stored in the bank - and most importantly - can be verified online. i'm not aware of any bank for bitcoin at the moment, at best there are some good online service like xapo, but still you need to convert your btc if you want to spend them and you can't use it directly so what's the point of converting everything in btc in the first place?, i think it's better for them to convert a small portion in bitcoin, for future saving, and the rest for their living |
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ProfessionalGoogler
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July 11, 2015, 07:24:03 AM |
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Can bitcoin really save Greece?
no Unfortunately...
Because the Bitcoin network cannot sustain the transactional flow that would be required for the daily commerce usage of a population of 11 million people right now.
Nope, you don't need people to necessarily use Bitcoin for transactional flows. If they are able to convert their savings into bitcoins and keep it away from the hands of bankers and government officials, Bitcoin has saved them. well bitcoin is here to be used, not to be cold storaged all day, if they convert they saving in bitcoin, they how can they will survive? they should dump at least a portion every day, and with the current limit the network will be queue to death... Why couldn't they use the same banking system, and then just back it by Bitcoin? Not necessary for each individual to own a Bitcoin wallet, but rather still using a checking account where all the Bitcoin is stored in the bank - and most importantly - can be verified online. i'm not aware of any bank for bitcoin at the moment, at best there are some good online service like xapo, but still you need to convert your btc if you want to spend them and you can't use it directly so what's the point of converting everything in btc in the first place?, i think it's better for them to convert a small portion in bitcoin, for future saving, and the rest for their living Not sure what you mean.. by "bank" I mean a business/government/(or bank??) that is "backed" by "Bitcoin" - basically a master Bitcoin wallet/address for everyone. The only "flaw" would be the bank playing fair, giving away more BTC than it really has - but again the bank could store all the BTC it has in one wallet as proof. This is exactly like backing up currency with something such as Gold - except it can be fully verified by anyone in the world. You, me, the president, aliens from outer space, etc. |
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Amph
Legendary
Offline
Activity: 3220
Merit: 1069
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July 11, 2015, 07:55:35 AM |
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Can bitcoin really save Greece?
no Unfortunately...
Because the Bitcoin network cannot sustain the transactional flow that would be required for the daily commerce usage of a population of 11 million people right now.
Nope, you don't need people to necessarily use Bitcoin for transactional flows. If they are able to convert their savings into bitcoins and keep it away from the hands of bankers and government officials, Bitcoin has saved them. well bitcoin is here to be used, not to be cold storaged all day, if they convert they saving in bitcoin, they how can they will survive? they should dump at least a portion every day, and with the current limit the network will be queue to death... Why couldn't they use the same banking system, and then just back it by Bitcoin? Not necessary for each individual to own a Bitcoin wallet, but rather still using a checking account where all the Bitcoin is stored in the bank - and most importantly - can be verified online. i'm not aware of any bank for bitcoin at the moment, at best there are some good online service like xapo, but still you need to convert your btc if you want to spend them and you can't use it directly so what's the point of converting everything in btc in the first place?, i think it's better for them to convert a small portion in bitcoin, for future saving, and the rest for their living Not sure what you mean.. by "bank" I mean a business/government/(or bank??) that is "backed" by "Bitcoin" - basically a master Bitcoin wallet/address for everyone. The only "flaw" would be the bank playing fair, giving away more BTC than it really has - but again the bank could store all the BTC it has in one wallet as proof. This is exactly like backing up currency with something such as Gold - except it can be fully verified by anyone in the world. You, me, the president, aliens from outer space, etc. with bank i mean a regular bank that offer you the same protection as a real bank but they will store bitcoin for you, basically like xapo, but regulated from the government anything backed by bitcoin would be susceptible to its instable nature, i can't see this working at all, perhaps it could be done with fully adoption, but not for the time being |
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ProfessionalGoogler
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July 11, 2015, 08:53:07 AM |
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Can bitcoin really save Greece?
no Unfortunately...
Because the Bitcoin network cannot sustain the transactional flow that would be required for the daily commerce usage of a population of 11 million people right now.
Nope, you don't need people to necessarily use Bitcoin for transactional flows. If they are able to convert their savings into bitcoins and keep it away from the hands of bankers and government officials, Bitcoin has saved them. well bitcoin is here to be used, not to be cold storaged all day, if they convert they saving in bitcoin, they how can they will survive? they should dump at least a portion every day, and with the current limit the network will be queue to death... Why couldn't they use the same banking system, and then just back it by Bitcoin? Not necessary for each individual to own a Bitcoin wallet, but rather still using a checking account where all the Bitcoin is stored in the bank - and most importantly - can be verified online. i'm not aware of any bank for bitcoin at the moment, at best there are some good online service like xapo, but still you need to convert your btc if you want to spend them and you can't use it directly so what's the point of converting everything in btc in the first place?, i think it's better for them to convert a small portion in bitcoin, for future saving, and the rest for their living Not sure what you mean.. by "bank" I mean a business/government/(or bank??) that is "backed" by "Bitcoin" - basically a master Bitcoin wallet/address for everyone. The only "flaw" would be the bank playing fair, giving away more BTC than it really has - but again the bank could store all the BTC it has in one wallet as proof. This is exactly like backing up currency with something such as Gold - except it can be fully verified by anyone in the world. You, me, the president, aliens from outer space, etc. with bank i mean a regular bank that offer you the same protection as a real bank but they will store bitcoin for you, basically like xapo, but regulated from the government anything backed by bitcoin would be susceptible to its instable nature, i can't see this working at all, perhaps it could be done with fully adoption, but not for the time being Perhaps people whose lives have completely changed because banks are taking power over them wouldn't mind trying something regulated by technology/math/algorithms.. Bitcoin, a technology that has proven time and time again each year to be reliable and sometimes profitable in sudden urges of media attention and countries failing... But I guess it also comes down to what you deem as risky... Bitcoin - this crazy insane technology HAS been around for 4-5 years now without any government or business control and HAS recovered from each and every single crash. --- When is it we finally decide this technology is more reliable than anything any current government has to offer? Maybe Greece can finally set a trend, though rocky in the start, they would have to offer something to the Bitcoin economy to succeed. What can they offer? The people. The people who back the government, who back currency--can instead--directly back a complex math/algorithms open sourced program. Will Greece be the first country to ask another country - Do you take Bitcoin? |
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