[2015-07-03] Paypal Shuts Down in Greece – Bitcoin Still Operates

[tyz]

As if everything to do with cash is tolerable enough, Greeks not have accessibility to their PayPal accounts, records Quartz. Capital manages enforced by the Greek government indicate that Greek people can just withdraw 60 euros (successfully 50 euros after Atm machines have lacked 20 euro notes) as well as online repayment service, PayPal, has been left maimed, consequently.

https://www.cryptocoinsnews.com/paypal-shuts-greece-bitcoin-still-operates/

[OrientA]

That is because Paypal is cetralized fiat based. When Paypal adopts bitcoin, it would be available more.

[tyz]

Now decentralization shows its power and superiority over decentralized currencies. Ripple holders should be warned for the future. This is probably the reason why Ripple has not raised as much as other cryptos over the last weeks.

That is because Paypal is cetralized fiat based. When Paypal adopts bitcoin, it would be available more.

[aso118]

As if everything to do with cash is tolerable enough, Greeks not have accessibility to their PayPal accounts, records Quartz. Capital manages enforced by the Greek government indicate that Greek people can just withdraw 60 euros (successfully 50 euros after Atm machines have lacked 20 euro notes) as well as online repayment service, PayPal, has been left maimed, consequently.

https://www.cryptocoinsnews.com/paypal-shuts-greece-bitcoin-still-operates/

Paypal shutting down may be news; bitcoin still operating is not. 
Governments should realize that capital controls are impossible in a world with bitcoins.

[Kprawn]

If only they realized this before the centralized banks closed their doors and reduced their withdrawal limits.

It's not as if we did not give them advance warnings.. I advocated for Bitcoin use on reddit in the /r/Greece subreddit before they started with this.

I guess people only react when it's too late or after something bad happens... 

PayPal is just a puppet in the centralized chain and it can be shut down tomorrow, if the governments feel like it.

[tyz]

Now they even consider to keep 30% of all bank balances over $8,000    The worst scenarios are gonna happen.

http://www.ft.com/cms/s/0/9963b74c-219c-11e5-aa5a-398b2169cf79.html

[dserrano5]

Now they even consider to keep 30% of all bank balances over $8,000    The worst scenarios are gonna happen.

http://www.ft.com/cms/s/0/9963b74c-219c-11e5-aa5a-398b2169cf79.html

Paywalled. Reachable at eg. http://www.cnbc.com/id/102809081

Greek deposits are guaranteed up to €100,000 in line with EU banking directives, but the country's deposit insurance fund amounts to only €3bn, which would not be enough to cover demand in case of a bank collapse.

With few deposits over €100,000 left in the banks after six months of capital flight, "it makes sense for the banks to consider imposing a haircut on small depositors as part of a recapitalisation. . . It could even be flagged as a one-off tax," said one analyst

Deposits are guaranteed, but. Nice "guarantee" they have in place!