Can bitcoin really save Greece?

[klf]

it is unlikely in the extreme that the Greek government will opt for Bitcoin.
However, ordinary Greeks are apparently using a lot of Bitcoin lately to do one of the things that Bitcoin was supposedly designed to do: protect their savings from the Greek government

[neurotypical]

If this would be happening 10 years from now, make no mistake, we would be having tons of tons of money coming into the bitcoin ecosystem way before the capital controls started (Which is where you want to do those kind of movements, now when you are limited already). People will learn from their mistakes, future generations will not get trapped into being some old dudes making long queues to get some hyperinflated fiat limited to x/daily. They'll know better, Bitcoin will be insanely strong and powerful and full of features and easy to use, but right now, nope, it cant do the job. Remember that we are still pioneers, people is lagging behind us for a decade or so, and we will be compensated for our long term vision.

[scarsbergholden]

So tomorrow is the big day, what would happen if they dont agreed to a bailout amount, hopefully we get some bitcoin media coverage included with the greece drama in this coming days, well and now the price back at 300 lets see.

[harlenadler]

I think Bitcoin won't save Greece, but it will definitely benefit from the current predicament - as more and more people lose faith in the powers that be and the system and the banks as they are now, they will look to alternative methods to store their cash, and I think bitcoin will be much more widely adopted, and as such, the price will rise over the course of this year and into the next few years.

[qiwoman2]

Already since the Greek Crisis reached it's Zenith we see a rise in Bitcoin price and other digital currencies. Greeks also have their own digital currency Hellas Coin so as more and more people trust less in Fiat there will be more and more savers coming in hoarding BTC..I am sure of it, especially among the younger more tech savvy generation.

[HarHarHar9965]

Already since the Greek Crisis reached it's Zenith we see a rise in Bitcoin price and other digital currencies. Greeks also have their own digital currency Hellas Coin so as more and more people trust less in Fiat there will be more and more savers coming in hoarding BTC..I am sure of it, especially among the younger more tech savvy generation.

Bitcoin is not a currency for a government; it is a global currency for the people. People will generally prefer a currency that goes up in value over time (which is called a deflationary currency, like bitcoin) over one that loses value over time (like all country currencies, which are called inflationary). How much ever people would love bitcoin, right now it is a flawed currency, unfit for Greece.

[Miracal]

It is a bad idea for Greece to adopt bitcoin as their national currency. Its similar to adopting gold as a national currency and giving up monetary policy. Monetary policy can improvise public finances and prosperity but also has been abused by governments that choose to print too much currency. That has resulted in inflation and destroyed lives of a lot of peeps.

[greBit]

It is a bad idea for Greece to adopt bitcoin as their national currency. Its similar to adopting gold as a national currency and giving up monetary policy. Monetary policy can improvise public finances and prosperity but also has been abused by governments that choose to print too much currency. That has resulted in inflation and destroyed lives of a lot of peeps.

The only way bitcoin can be of any assistance of positive help to Greece could be transparency. A government or even a country could become truly "transparent" by utilizing the Bitcoin Blockchain for all or some of their departments of services. Countries like Honduras are already experimenting with the blockchain for land registry.

[jt byte]

Even if Greece does not decide to go full Bitcoin the fact that it is being considered validates crypto currencies and their potential

[bornil267645]

Bitcoin was never invented to save an economy. it was only there to fill some of the gaps of the fiat currency system. Don't give bitcoin too greater value than it originally is. Otherwise the frustration will creep in.

[Zorrocoin]

Already since the Greek Crisis reached it's Zenith we see a rise in Bitcoin price and other digital currencies. Greeks also have their own digital currency Hellas Coin so as more and more people trust less in Fiat there will be more and more savers coming in hoarding BTC..I am sure of it, especially among the younger more tech savvy generation.

Bitcoin is not a currency for a government; it is a global currency for the people. People will generally prefer a currency that goes up in value over time (which is called a deflationary currency, like bitcoin) over one that loses value over time (like all country currencies, which are called inflationary). How much ever people would love bitcoin, right now it is a flawed currency, unfit for Greece.

That is precise. Bitcoin is a very  flawed currency right now and cannot be used by Greece in such a crisis. And people do prefer currency  that ascends in value . Right now, Bitcoin is not enough for the compensation of the Greece crisis. Maybe in a few years , bitcoin could bee helpful , but not right now.

[Miracal]

Already since the Greek Crisis reached it's Zenith we see a rise in Bitcoin price and other digital currencies. Greeks also have their own digital currency Hellas Coin so as more and more people trust less in Fiat there will be more and more savers coming in hoarding BTC..I am sure of it, especially among the younger more tech savvy generation.

Bitcoin is not a currency for a government; it is a global currency for the people. People will generally prefer a currency that goes up in value over time (which is called a deflationary currency, like bitcoin) over one that loses value over time (like all country currencies, which are called inflationary). How much ever people would love bitcoin, right now it is a flawed currency, unfit for Greece.

That is precise. Bitcoin is a very  flawed currency right now and cannot be used by Greece in such a crisis. And people do prefer currency  that ascends in value . Right now, Bitcoin is not enough for the compensation of the Greece crisis. Maybe in a few years , bitcoin could bee helpful , but not right now.

Its not that flawed, its just unfit at the moment because of its volatile nature. And even if bitcoin and Greece could have had a happy ending, it wouldn't end so happy for Greece. Their whole debt happened because of mismanagement and also because they could not really afford euro. They don't afford enough to buy btc in reserve

[scarsbergholden]

So i have an idea in how we could help Greece, what if we put all the Greece bail out payouts in the blockchain, is most likely we could help out save the bad government spending by using the blockchain for something that the greece people will always have access to.

[CPNpr]

No it can. Everything just goes into corrupt politicians pocket. One is going another corrupt is coming.

[greBit]

So i have an idea in how we could help Greece, what if we put all the Greece bail out payouts in the blockchain, is most likely we could help out save the bad government spending by using the blockchain for something that the greece people will always have access to.

I think the Greece government don't want to get involved with bitcoin, they've made it evidently clear. Also, Eurozone is in charge of where the bail out payouts go, why would they permit such a thing? Regardless of Greece people having access or not, they don't really believe it. If they did by now, we would see major amount of people getting onto bitcoin.

No it can. Everything just goes into corrupt politicians pocket. One is going another corrupt is coming.

There's more to to the Greece fault than corruption. And more than the politicians, I think it was more about the mistakes by the banks.

[Falconer]

There's more to to the Greece fault than corruption. And more than the politicians, I think it was more about the mistakes by the banks.

I think the most mistakes was made by the government, which they spent too much money when were running the country. The main cause was corruption http://www.theguardian.com/world/2014/dec/03/greece-corruption-alive-and-well

I'm sure bitcoin can save Greeks, not Greece, because Greece is run by the corrupt government. The better ways for Greeks is, don't live in Greece anymore, where the government there will always take high tax from them.

[Miracal]

I think the most mistakes was made by the government, which they spent too much money when were running the country. The main cause was corruption

The blame game, lawlessness, perception, corruption, unproductive work, lying, dead entities, injustice, Tax evaders, overspending and ZELEVOUNAI are all reasons why Greece, one of the best countries in history is no more a real country.

I'm sure bitcoin can save Greeks, not Greece, because Greece is run by the corrupt government.

Bitcoins can only be used as an alternative for obvious financial restrictions for Greece. Even paypal also had to step back from dealing with Greece. As long as bitcoin is not banned in Greece, it could be helpful but not too much.

 The better ways for Greeks is, don't live in Greece anymore, where the government there will always take high tax from them.

The best option can never be leaving a country, if such an event is to happen, other countries will automatically disallow Greeks to travel to other countries, the population is as big as 11 million. Leaving a troubled country is never an option. High taxes must be paid in order to repay the debt, otherwise the country which is dangling on the edge will completely collapse.

[CPNpr]

So i have an idea in how we could help Greece, what if we put all the Greece bail out payouts in the blockchain, is most likely we could help out save the bad government spending by using the blockchain for something that the greece people will always have access to.

I think the Greece government don't want to get involved with bitcoin, they've made it evidently clear. Also, Eurozone is in charge of where the bail out payouts go, why would they permit such a thing? Regardless of Greece people having access or not, they don't really believe it. If they did by now, we would see major amount of people getting onto bitcoin.

No it can. Everything just goes into corrupt politicians pocket. One is going another corrupt is coming.

There's more to to the Greece fault than corruption. And more than the politicians, I think it was more about the mistakes by the banks.

Yes I agree and not saying the banks are not corrupt. Just pity for the country, so nice and the people are so friendly. Always it hits the poor to get poorer. What a shame.

[Falconer]

The blame game, lawlessness, perception, corruption, unproductive work, lying, dead entities, injustice, Tax evaders, overspending and ZELEVOUNAI are all reasons why Greece, one of the best countries in history is no more a real country.

How can the country where the famous philosophers was born and democracy principal began, lost its morality and did bad things like corruption etc. We hope the Greeks can struggle in this condition.

Bitcoins can only be used as an alternative for obvious financial restrictions for Greece. Even paypal also had to step back from dealing with Greece. As long as bitcoin is not banned in Greece, it could be helpful but not too much.

Atleast they can saving their money into bitcoin instead of saving it in bank, which they have full control on their money

The best option can never be leaving a country, if such an event is to happen, other countries will automatically disallow Greeks to travel to other countries, the population is as big as 11 million. Leaving a troubled country is never an option. High taxes must be paid in order to repay the debt, otherwise the country which is dangling on the edge will completely collapse.

It will be harder for Greeks to pay high tax since the price of almost everything become more expensive like food and petrol, and thousands Greek lost their jobs.

[pigzone]

They can use their money to buy bitcoin which will save them