Can bitcoin really save Greece?

[ashfaq]

If 1 bitcoin value stood for a 1 billion dollar valuation, then yes.

We can all save greece if we contributed 94 btc which would be 94 billion which is what they need to suppress permanent depression.

Cause then that 94 btc will be cashed in the form of the euro that they need. 

loll .. guess then Greece needs to wait till 3015

[1714094952]

1714094952

[1714094952]

1714094952

[lissandra]

If 1 bitcoin value stood for a 1 billion dollar valuation, then yes.

We can all save greece if we contributed 94 btc which would be 94 billion which is what they need to suppress permanent depression.

Cause then that 94 btc will be cashed in the form of the euro that they need. 

loll .. guess then Greece needs to wait till 3015

I dont think the greece has no choice at this point.

They might as well hope that some mircale like that guy mentioned and comes sooner then 3015. But if it did, we would be all rich.. and I`d be sipping a crafted beer while typing this.

Its pretty crazy how they rack up so much debt though. What other options do they have though..

[jones techbit]

Fortunately bitcoin came into handy for them to invest on it due to the uncertainty in Greece economy, If Greeks put their hard effort and sincerity they will definitely come out of this financial problems in a few years.

[MasterYii]

Fortunately bitcoin came into handy for them to invest on it due to the uncertainty in Greece economy, If Greeks put their hard effort and sincerity they will definitely come out of this financial problems in a few years.

im not sure since its a debatable topic, but some people in greece had very little effect on using it since they had a limit of $60.

and their bank accounts were frozen so they have no access to cash.. those who were fortunate to have money around on them probably were using bitcoin since western union closed down for entire week.

[techgeek]

No bitcon wont, but Germany surely will,they deserve it, all that is happening to them because didnt control their expences, for example every employee was taking 15th  salary annually, on one work place in administration they had like 3 employees etc.   this was a result of improper monetary working.

That is very true.  Greece wants to keep the Euro.... so BTC does not really help there.

It's going to take a lot of money to help Greece, and I doubt people donate to Greece.  It will take some countries near them to help.  Some with deep deep pockets.

I dont think they`ll raise enough btc to even make any dent to their debt if they did.

Although btc can get a huge publicity though if there was a huge enough donations in the 1 millions on what btc can do that makes people turn into future buyers for us lol.

[lissandra]

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

if their bank now removed the lock on the 60 euro they can, in the case the same thing will repeat, but they have now the money from the central bank, so i don't think they will care about bitcoin anymore

if they still have their 60 euro limit, they can buy some if they are not in big trouble and don't have family or whatsoever

I personally think the limit isnt really the issue, cause its the same thing as restricting everything pretty much.

Like imagine they have like 1,000 in the account how long would it take everyday to move that money. Its more of no choice options so they deal with it, and the money from the central bank doesnt help the situation of a possible depression.

[NorrisK]

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

if their bank now removed the lock on the 60 euro they can, in the case the same thing will repeat, but they have now the money from the central bank, so i don't think they will care about bitcoin anymore

if they still have their 60 euro limit, they can buy some if they are not in big trouble and don't have family or whatsoever

I personally think the limit isnt really the issue, cause its the same thing as restricting everything pretty much.

Like imagine they have like 1,000 in the account how long would it take everyday to move that money. Its more of no choice options so they deal with it, and the money from the central bank doesnt help the situation of a possible depression.

The biggest problem is that they don't have that 1,000 in case the governments decides to take the money from everybody or in case they switch to useless Drachmas... They need control and a stable form of cash --> they withdraw as much as possible.

[kenbytes]

It would be nice imagination. When only 1% from the greece population of 11 million would start to using bitcoin, then bitcoin would be unstoppable. The volume would be explode with over 100.000 more users.

[CPNpr]

It would be nice imagination. When only 1% from the greece population of 11 million would start to using bitcoin, then bitcoin would be unstoppable. The volume would be explode with over 100.000 more users.

But for this the use must be much easier otherwise they would not accept it.

[thejaytiesto]

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

I don't think it's being considered by any political party, all i've heard is some news headlines entertaining the idea and some diehad bitcoiners, not much more. Unfortunately we are way too ahead in the game for that.

[malzahar]

It would be nice imagination. When only 1% from the greece population of 11 million would start to using bitcoin, then bitcoin would be unstoppable. The volume would be explode with over 100.000 more users.

Its amazing how people hype over greece with bitcoin.

But if the greece people arent using it and they dont show they care for it.. its a shame cause they could move their money around.

[foxbitcoin]

Greece has a population of 11 million. Bitcoin can handle at most 500,000 transactions per day. This means if Greece adopts bitcoin then less than 5% of the Greek population can do a single transaction per day

[Amph]

Greece has a population of 11 million. Bitcoin can handle at most 500,000 transactions per day. This means if Greece adopts bitcoin then less than 5% of the Greek population can do a single transaction per day

well it's like they are going to spend bitcoin simultaneously, so i don't think your estimation is correct, also i'm sure that some "seconds" are less ful than other, if someone want to perform a spending he can choose a time of the day where there are less TX/sec

i think this should be integrate in the core, something that can tell you the TX per second in an exact moment, so we can distribute better the TX volume

[lottery248]

i guess this will work, but Greece would lose ability to control the stability of the currency.
simply, because the crypto coins are decentralised and nobody could control it unless 51% attacks.
Greece should adopt some of the alt coins as their national currency, by buying them in bulk.
 and then, boom! that alt coin become higher than bitcoin! however, Greece cannot adopt bitcoin because it would crash numbers of computers with full node wallet, especially if the XT changed bitcoin.

Greece has a population of 11 million. Bitcoin can handle at most 500,000 transactions per day. This means if Greece adopts bitcoin then less than 5% of the Greek population can do a single transaction per day

yes, then they should use proof of stake coins, IIRC proof of stake system gives the fastest confirmation.

--non quote--
how could we synchronize 500,000 transaction per minute? anyone?

[Insertion]

Fortunately bitcoin came into handy for them to invest on it due to the uncertainty in Greece economy, If Greeks put their hard effort and sincerity they will definitely come out of this financial problems in a few years.

It is nothing to do with bitcoins and greece financial difficulties. If one do not want to work hard and expect more benefits from government then this situation will come sooner or later.

[ashfaq]

http://cointelegraph.com/news/115143/greece-to-receive-1000-bitcoin-atms-as-trust-in-banks-long-gone 
 
Is it really happening ? even so that would not even effect the majority .

[HarHarHar9965]

Greece has a population of 11 million. Bitcoin can handle at most 500,000 transactions per day. This means if Greece adopts bitcoin then less than 5% of the Greek population can do a single transaction per day

Oh, you think they have enough money to buy capital reserve worth of bitcoins to keep it as their national currency? If you are not talking about Greece adopting bitcoin, what are you discussing if bitcoin can handle the Greece population? Bitcoin has the potential to handle half the world at the same time right now, and after more serious adoption, there will be better tech for better performance.

[Kingno.1]

I think yes, Bitcoin can really save Greece.
I mean they are also adapting it.
Recently there was a news of installation of around 1000bitcoin atm, so it's a major step in Bitcoin adaption also.

[HarHarHar9965]

I think yes, Bitcoin can really save Greece.
I mean they are also adapting it.
Recently there was a news of installation of around 1000bitcoin atm, so it's a major step in Bitcoin adaption also.

I don't think Greece could afford to buy that much reserve capital of bitcoins in order to save themselves for anything, though if in a situation where they do, the value of bitcoin might multiply 55 times causing the value to boost super high. I am confused if that might be a good or a bad thing for Greece, but that would massively affect adoption and change bitcoin world forever

[techsuvidha]

The main problem is that they don't have access to their own funds to buy bitcoins! And i don't think that any country would lend them for buying Bitcoins!