Paypal Banned Greece!

[Miracal]

Perfect example of why Centralized payment systems will one day (hopefully within my lifetime) be a thing of the past!

I do not think that until countries with central governments exist, a decentralized currency would be possible. A government wants and needs control over the official currency, at least to some extent. It's more likely that such currencies would co-exist next to the traditional system.

Yeah, I might agree to that but that's how we all should evolve our economy and our nation to be like. How can we expect the trades to be fast, free and friendly if all of it is controlled by a system, especially a corrupt system. So would we let a corrupt system control something they have no right over, just to find corruption bye others? Good irony.

That is how the world works, buddy. They will always try to have a higher hand above everybody, because they think they have special powers and they are special, that they are above us. I think there must be an economic revolt which will change things for better, for good. We can't convince the government, we can only convince the people for their own betterment.

[greBit]

paypal is not country-friendly.
People in India complain about not being able to receive payments. And now it is outright banning nations?
Hopefully paypal will implode soon  
There are so many other options available and since they did a 180 on bitcoin I don't see myself using their high fee based payment system in the near future.

I don't know about country friendly paypal or if it's not, but I have been using paypal for a long time, it has been a very helpful way of transaction for me before. Yes, I also use bitcoins and even trade in it, but I don't want to compare paypal, its not going to be a decentralized currency being adopted, is it? Also, I've transferred money to India often and never heard any complaints. Idk what you are saying.

[Kapz786]

Yeah it is pretty surprising lol, maybe this is an opportunity for bitcoin. As PayPal wallets in Greece is unavailable for now, in the meantime, the customer deposit for btc have increased by a 400 percent from May to June. Maybe Greece can help bitcoin.

[TTMNewsMJ]

Can someone explain to me if what's going on here???
Is it true that paypal banned greece? Why?

[examplens]

Can someone explain to me if what's going on here???
Is it true that paypal banned greece? Why?

Now I read, I did not see this thread so far. Where are from this informaton about Paypal ban Greece?

[gentlemand]

Read the topic. It's related to the capital controls imposed back in July.  No conventional finance operator could've been used to move money out.

[addy boy]

According to a PayPal spokesman:

"Due to the recent decisions of the Greek authorities on capital controls, funding of PayPal wallet from Greek bank accounts, as well as cross-border transactions, funded by any cards or bank accounts are currently not available. We aim to continue serving our valued customers in Greece in full, as we have for over a decade."

http://qz.com/444188/paypal-no-longer-works-in-greece-and-why-that-matters/

In another words:

Those who already have money in their paypal accounts can use it but those who want to deposit money can not do it.

This banned has one postive development for Bitcoin. Overall, the situation in Greece could turn out to be very good for Bitcoin Holders. This could deeply impact the price before the Bitcoin 
Bitcoin will rule thw world lol k can't say rule but u undereit on ur own

[knowhow]

The bad thing at Greece is that they are restricted to use and moove their money,even trying to get bitcoin to avoid government control of their economies,one thing has been show when country faces a problem they control banks and restrict them,with bitcoin investment ,they cant do nothing against it and will be the way out to protect our precious savings.

[RustyNomad]

Posted this a while back in regards to the adoption of bitcoin in South American countries but it also apply to Greece with these capital controls.

Watch the governments of this world becoming the biggest drivers of bitcoin adoption.

I've said this before but think I'll say it again....

The biggest driver behind the mass adoption of bitcoin will be the governments who through their own actions make their local currencies worthless and as such leave the citizens of that country with little choice but to take up alternatives.

At present the only true alternative is bitcoin. Lets hope that it gains even more ground in the months to come so that it gets so 'ingrained' in their society that it will remain the 'currency' of choice even after their present problems has been resolved, if ever.

[RustyNomad]

I just came across this article on Business Insider. Its not about Greece but about Europe and what some have planned in regards to controls on banking activities.

If you think it's just Greece that have problems then read it. Controls in several other forms are on its way for most of Europe.

http://www.businessinsider.com/banks-discussing-negative-interest-rates-for-consumers-2015-10

[worhiper_-_]

I just came across this article on Business Insider. Its not about Greece but about Europe and what some have planned in regards to controls on banking activities.

If you think it's just Greece that have problems then read it. Controls in several other forms are on its way for most of Europe.

http://www.businessinsider.com/banks-discussing-negative-interest-rates-for-consumers-2015-10

Well uh, Greece has capital controls paypal wasn't really prepared for that. Some paypal services aren't available to Greeks to avoid money laundering during capital controls and other services aren't accessible or are very limited due to the capital controls. There are indirect ways to fund a paypal account for Greeks, so the title is an exaggeration.

[n2004al]

who need paypal?   ,people there must move out from paypal and going to bitcoin, more simple,low fees,and dont need to upload fuckin gov ID

You need definitely PayPal (or credit/debit card). Because you need definitely fiat money. The fiat money which is used in your country. Bitcoin is known only by you and by me. This is the cruel true. No one or to many few merchants accept it. You can use bitcoin to transfer your money but that's all. Here finish its duty. Then you will need other kind money to live you life.

[bitart]

Just thinking about the situation in Greece. I don't know if the restrictions (60 EUR from ATM etc) are still live but I've heared that foreign people (tourists) were not restricted, or at least were able to pay with their cards at POS terminals, because their card was not issued by a local bank.
In this case a possible solution for greek people could be a Bitcoin debit card to pay with or to try to withdraw cash with. If this works, the only question would be how to fund the bitcoin wallet the bitcoin card is attached to. But I don't know if restrictions are over or not.

[n2004al]

Just thinking about the situation in Greece. I don't know if the restrictions (60 EUR from ATM etc) are still live but I've heared that foreign people (tourists) were not restricted, or at least were able to pay with their cards at POS terminals, because their card was not issued by a local bank.
In this case a possible solution for greek people could be a Bitcoin debit card to pay with or to try to withdraw cash with. If this works, the only question would be how to fund the bitcoin wallet the bitcoin card is attached to. But I don't know if restrictions are over or not.

The bitcoin debit/credit card can be a solution only for those who are profits or salary or any other kind of revenue in bitcoin. If not, what to do with such card? How or where to find the bitcoin to spend if you have not source from where you can have those? You can use your money to have bitcoin to charge the card with those but why this way to use your money? You can use these directly.

Then the use of bitcoin in such way is not a good move according to me. Spend big amounts of bitcoin in this situation is loss. I hope (I think are to many and not me only) that the price of bitcoin go high - at least with the halving. So it will be a big loss to spend to many bitcoins now (this could be the amount needed to make normal life) when after 8-9 months these can have bigger value.

[BTT]

Just thinking about the situation in Greece. I don't know if the restrictions (60 EUR from ATM etc) are still live but I've heared that foreign people (tourists) were not restricted, or at least were able to pay with their cards at POS terminals, because their card was not issued by a local bank.
In this case a possible solution for greek people could be a Bitcoin debit card to pay with or to try to withdraw cash with. If this works, the only question would be how to fund the bitcoin wallet the bitcoin card is attached to. But I don't know if restrictions are over or not.

The bitcoin debit/credit card can be a solution only for those who are profits or salary or any other kind of revenue in bitcoin. If not, what to do with such card? How or where to find the bitcoin to spend if you have not source from where you can have those? You can use your money to have bitcoin to charge the card with those but why this way to use your money? You can use these directly.

Then the use of bitcoin in such way is not a good move according to me. Spend big amounts of bitcoin in this situation is loss. I hope (I think are to many and not me only) that the price of bitcoin go high - at least with the halving. So it will be a big loss to spend to many bitcoins now (this could be the amount needed to make normal life) when after 8-9 months these can have bigger value.

Thoughtful! Their economy is in chaos. Ppl there have no btc or fiat income. How could they build the bitcoin ecosystem or consider to adopt it? Abandon paypal and adopt btc is just our delusion.

[Amph]

who need paypal?  ,people there must move out from paypal and going to bitcoin, more simple,low fees,and dont need to upload fuckin gov ID

i have not upload my ID with paypal, what you're talking about?

but i would fuck paypal anyday, just because of their stupid high fee, it's only nice to use in some website that are unknown and you need to buy rare thing, like specific supplements

[n2004al]

Just thinking about the situation in Greece. I don't know if the restrictions (60 EUR from ATM etc) are still live but I've heared that foreign people (tourists) were not restricted, or at least were able to pay with their cards at POS terminals, because their card was not issued by a local bank.
In this case a possible solution for greek people could be a Bitcoin debit card to pay with or to try to withdraw cash with. If this works, the only question would be how to fund the bitcoin wallet the bitcoin card is attached to. But I don't know if restrictions are over or not.

The bitcoin debit/credit card can be a solution only for those who are profits or salary or any other kind of revenue in bitcoin. If not, what to do with such card? How or where to find the bitcoin to spend if you have not source from where you can have those? You can use your money to have bitcoin to charge the card with those but why this way to use your money? You can use these directly.

Then the use of bitcoin in such way is not a good move according to me. Spend big amounts of bitcoin in this situation is loss. I hope (I think are to many and not me only) that the price of bitcoin go high - at least with the halving. So it will be a big loss to spend to many bitcoins now (this could be the amount needed to make normal life) when after 8-9 months these can have bigger value.

Thoughtful! Their economy is in chaos. Ppl there have no btc or fiat income. How could they build the bitcoin ecosystem or consider to adopt it? Abandon paypal and adopt btc is just our delusion.

There are not to much possibilities that some country (whosoever be that country, and less more Greece) adopt bitcoin as its money. Normally, no one country can adopt as its money a currency that is not owned by it, that is not controlled by it and that, the big amount of it is in circulation out of it. Then, if overpassed the above and the country decide to have bitcoin as its currency, that country need to buy big amounts of bitcoin to begin the monetary life in this country (to be able to maintain and pay the public administration, the public services, the policy, the army, the other governative agencies etc. depending from the public structure that country have). This is totally impossible for the Greece because have no money to do such operations. It will be hard to do such conversion even for one more developed and powerful countriy and not for Greece which it is in sore straits.

[knowhow]

There is some localbitcoins where you can sell and buy bitcoins,but countries are ajusting their control over the banks to stop someone to get all savings and invest at bitcoin and when the people need fiat they could sell them,but those would require a huge ammount to handle such thing.The same way several stores had open to buy gold ,and where you can convert your gold into fiat or fiat into gold.

[alani123]

A lot of confusion here so let me clear few things. I live in Greece myself so I know what's going on.
ATM cash withdrawals are limited to ~400€ per week.

Paying taxes, buying from stores, transacting money to individuals or companies with an account in the country is done electronically without limits.

Remittances by individuals headed outside of the country are limited to 500€ a month.

Paypal hasn't banned Greece, Greeks were locked out from using it's features for a while but as capital controls loosened we're now able to use it (with the limitations in place).

Prepaid card paysafe had completely shut down it's services but is now offering normal service for consumers that want to buy products or services from companies using paysafe and have registered offices within the country. (selection is limited though, big names like steam aren't registered in Greece.)

Companies can transact money but transactions go through approvals from committees set in each bank.

There's currently no reliable way for Greeks to buy bitcoin. Yeah, believe it or not, despite all the hype we still have no reliable way to buy bitcoin even after capital controls have become less strict.

Bitcoin debit cards exist and are accessible by Greeks, they work normally with no limits in Greece too (as any card issues without a Greek bank would work). However, as there's no way Greeks can conveniently convert their money to BTC it's kinda pointless for people that didn't already own bitcoin to use one.

Cards issued with Greek banks allow to process certain transactions with companies outside Greece. Some activities like gambling and gaming are excluded and on top of that there's also a monthly limit.

[Mickeyb]

who need paypal?  ,people there must move out from paypal and going to bitcoin, more simple,low fees,and dont need to upload fuckin gov ID

Unfortunately I don't think the world or the Bitcoin are ready for such a huge Bitcoin use. We will get there in few years but until then customers worldwide will need PayPal and other payment methods. I am just being realistic here!