[2015-07-03] ET: Fearing return to drachma, some Greeks use bitcoin

[polynesia]

Fearing return to drachma, some Greeks use bitcoin to dodge capital controls

http://economictimes.indiatimes.com/news/international/business/fearing-return-to-drachma-some-greeks-use-bitcoin-to-dodge-capital-controls/articleshow/47926571.cms

There is at least one legal way to get your euros out of Greece these days, to guard against the prospect that they might be devalued into drachmas: convert them into bitcoin.

Although absolute figures are hard to come by, Greek interest has surged in the online "cryptocurrency", which is out of the reach of monetary authorities and can be transferred at the touch of a smartphone screen


Governments should realize that capital controls are impossible when Bitcoin is around.