Bitcoin in the Headlines: More Hot Air for Greece

[ChrisPop]

Bitcoin in the Headlines is a weekly look at bitcoin news, analysing media coverage and its impact.


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This week was by no means the first time the mainstream media has connected Greece's looming debt crisis to bitcoin.

http://www.coindesk.com/bitcoin-in-the-headlines-more-hot-air-for-greece/

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[Snorek]

Greek crisis is a political crisis, not a currency crisis! Euro is the currency of Greece now. And Euro is standing strong, nothing will break it when Germany, France and other great European economies are standing behind it. We will be having different discussion if Drachma was still currency of Greece now. Greeks don't want different currency they want economic stability.

[scarsbergholden]

I dont think people in Greece read coindesk, i have been trying to scan most of the local media outlets in Greece to see any bitcoins news and there is very little in the general selection or none at all so this is more of outsite coverage turning bitcoin into a solution.

[NoFudOnlyFacts]

The banks are closed and Greeks unable to buy Bitcoin.

[HarHarHar9965]

Greek crisis is a political crisis, not a currency crisis! Euro is the currency of Greece now. And Euro is standing strong, nothing will break it when Germany, France and other great European economies are standing behind it. We will be having different discussion if Drachma was still currency of Greece now. Greeks don't want different currency they want economic stability.

What might really break it is when all the strong countries in the euro zone also coming out declaring default in their debts, that's when the power of euro will really go down, that's when people will truly, honestly stop giving a fuck about euro. It will ruin everybody's faith in euro, they will open their eyes, keep their hands on their asses and run towards bitcoin to save them.

[Amph]

The banks are closed and Greeks unable to buy Bitcoin.

you can withdraw 60 euro per day or per month, i don't remember right now, so they still can take a tiny portion of their money and buy bitcoin with those

but they will probably need that amount to survive, nobody in their right mind would buy bitcoin instead, seeing the utterly critical situation

[Miracal]

Greek crisis is a political crisis, not a currency crisis! Euro is the currency of Greece now. And Euro is standing strong, nothing will break it when Germany, France and other great European economies are standing behind it. We will be having different discussion if Drachma was still currency of Greece now. Greeks don't want different currency they want economic stability.

What might really break it is when all the strong countries in the euro zone also coming out declaring default in their debts, that's when the power of euro will really go down, that's when people will truly, honestly stop giving a fuck about euro. It will ruin everybody's faith in euro, they will open their eyes, keep their hands on their asses and run towards bitcoin to save them.

I don't think that day is much far, I don't really trust euro, in fact I never trusted it. I have even disliked most of the countries in the euro zone I think the euro collapse might happen soon, and I don't know what moves they have in store, but other currencies will definitely take a nice opportunity out of the crisis.

[Wexlike]

The banks are closed and Greeks unable to buy Bitcoin.

you can withdraw 60 euro per day or per month, i don't remember right now, so they still can take a tiny portion of their money and buy bitcoin with those

but they will probably need that amount to survive, nobody in their right mind would buy bitcoin instead, seeing the utterly critical situation

It is 60 € per day. That means 1800 € per month. Quite enough to survive imho.

[greBit]

The banks are closed and Greeks unable to buy Bitcoin.

you can withdraw 60 euro per day or per month, i don't remember right now, so they still can take a tiny portion of their money and buy bitcoin with those

but they will probably need that amount to survive, nobody in their right mind would buy bitcoin instead, seeing the utterly critical situation

It is 60 € per day. That means 1800 € per month. Quite enough to survive imho.

Quite enough to survive, but is it quite enough to survive and also buy bitcoins? NO. They are not even thinking of buyign bitcoins at the moment, let alone think that they can afford to buy bitcoins. I guess that is the point amph tried making. Everybody praying for Bitcoin to be a savior to Greece is unrealistic, Greece doesn't need a savior, Bitcoin cannot be its savior. Simple.

[qiwoman2]

I don't even know if BTC is also a solution for Greece, I myself would opt for a more stable and uptrending digital currency like DNOTES which encourages more female participation, is educating newbies through it's cryptomom's forum and is also guaranteeing member's deposits in it's own DNOTES vault which is far better than any other crypto at present....including bitcoin.

[Amph]

The banks are closed and Greeks unable to buy Bitcoin.

you can withdraw 60 euro per day or per month, i don't remember right now, so they still can take a tiny portion of their money and buy bitcoin with those

but they will probably need that amount to survive, nobody in their right mind would buy bitcoin instead, seeing the utterly critical situation

It is 60 € per day. That means 1800 € per month. Quite enough to survive imho.

if it is really per month then they can potentially buy bitcoin with 800 and the rest for living, it should be enough if you have not a family

so there is no excuse for them to not buy bitcoin for the time being

The banks are closed and Greeks unable to buy Bitcoin.

you can withdraw 60 euro per day or per month, i don't remember right now, so they still can take a tiny portion of their money and buy bitcoin with those

but they will probably need that amount to survive, nobody in their right mind would buy bitcoin instead, seeing the utterly critical situation

It is 60 € per day. That means 1800 € per month. Quite enough to survive imho.

Quite enough to survive, but is it quite enough to survive and also buy bitcoins? NO. They are not even thinking of buyign bitcoins at the moment, let alone think that they can afford to buy bitcoins. I guess that is the point amph tried making. Everybody praying for Bitcoin to be a savior to Greece is unrealistic, Greece doesn't need a savior, Bitcoin cannot be its savior. Simple.

how so? 1800 is more than enough for survive and buy bitcoin, you don't need more than 1k euro a month to eat and pay taxes, unless you spend your fiat in useless thing...you know

worst case they can save 1200 and the rest in bitcoin, everyone of them can buy at least 2 btc per month, so this should reverse 600x11M = 6.6B of money into the bitcoin market each month

but since there is only 14M coins, only a small portion of their citizens can buy that amount of coins and only for one month, the other will be able to buy much less than 1, if the market has all this great offer(i doubt, there are 11M coin available probably only 1M are available to purchase)

[scarsbergholden]

wow seeing people talking about 60 Euro is enough to survive, no full family can survive on 60 euros a day thats just what about their public bills, electricity/water/phone/gas
just have the restriction along is just crazy.

[AtheistAKASaneBrain]

wow seeing people talking about 60 Euro is enough to survive, no full family can survive on 60 euros a day thats just what about their public bills, electricity/water/phone/gas
just have the restriction along is just crazy.

60 is enough if you are a single guy, but a family with 4 members or so its a huge problem. I wonder for how long will they keep it like this until mass riots ensue.

[johnyj]

Greek crisis is a political crisis, not a currency crisis! Euro is the currency of Greece now. And Euro is standing strong, nothing will break it when Germany, France and other great European economies are standing behind it. We will be having different discussion if Drachma was still currency of Greece now. Greeks don't want different currency they want economic stability.

This is a currency crisis, not a political one

When the money is controlled by banks, all the political debate is meaningless, because without money any kind of policy will not work at all. Greece government can order police to raid the bank and confiscate their cash, but they will find out that there is nothing in their vault, most of their assets are just numbers registered in foreign financial institutions  This way of banks protecting themselves against violent from politicians are invented by Rothschild family and still works well today

All the transactions in the country are in bank's database, and those are only numbers, no money involved. If the euro clearing system does not honor a transaction from the Greek banks, their bank account will be useless outside of Greece

[HarHarHar9965]

The banks are closed and Greeks unable to buy Bitcoin.

you can withdraw 60 euro per day or per month, i don't remember right now, so they still can take a tiny portion of their money and buy bitcoin with those

but they will probably need that amount to survive, nobody in their right mind would buy bitcoin instead, seeing the utterly critical situation

It is 60 € per day. That means 1800 € per month. Quite enough to survive imho.

if it is really per month then they can potentially buy bitcoin with 800 and the rest for living, it should be enough if you have not a family

so there is no excuse for them to not buy bitcoin for the time being

The banks are closed and Greeks unable to buy Bitcoin.

you can withdraw 60 euro per day or per month, i don't remember right now, so they still can take a tiny portion of their money and buy bitcoin with those

but they will probably need that amount to survive, nobody in their right mind would buy bitcoin instead, seeing the utterly critical situation

It is 60 € per day. That means 1800 € per month. Quite enough to survive imho.

Quite enough to survive, but is it quite enough to survive and also buy bitcoins? NO. They are not even thinking of buyign bitcoins at the moment, let alone think that they can afford to buy bitcoins. I guess that is the point amph tried making. Everybody praying for Bitcoin to be a savior to Greece is unrealistic, Greece doesn't need a savior, Bitcoin cannot be its savior. Simple.

how so? 1800 is more than enough for survive and buy bitcoin, you don't need more than 1k euro a month to eat and pay taxes, unless you spend your fiat in useless thing...you know

worst case they can save 1200 and the rest in bitcoin, everyone of them can buy at least 2 btc per month, so this should reverse 600x11M = 6.6B of money into the bitcoin market each month

but since there is only 14M coins, only a small portion of their citizens can buy that amount of coins and only for one month, the other will be able to buy much less than 1, if the market has all this great offer(i doubt, there are 11M coin available probably only 1M are available to purchase)

So you're assuming that everybody who gets their 60 euros back can afford to spend it? What if there is a family consisting of 6 people and only the provider of the family gets 60 euros everyday? What do they do then? Buy bitcoins? Stop concluding that buying bitcoins is a solution for Greece, man. It isn't. Bitcoin is a young blood in the market, why do people expect it to be a savior?

[Amph]

The banks are closed and Greeks unable to buy Bitcoin.

you can withdraw 60 euro per day or per month, i don't remember right now, so they still can take a tiny portion of their money and buy bitcoin with those

but they will probably need that amount to survive, nobody in their right mind would buy bitcoin instead, seeing the utterly critical situation

It is 60 € per day. That means 1800 € per month. Quite enough to survive imho.

if it is really per month then they can potentially buy bitcoin with 800 and the rest for living, it should be enough if you have not a family

so there is no excuse for them to not buy bitcoin for the time being

The banks are closed and Greeks unable to buy Bitcoin.

you can withdraw 60 euro per day or per month, i don't remember right now, so they still can take a tiny portion of their money and buy bitcoin with those

but they will probably need that amount to survive, nobody in their right mind would buy bitcoin instead, seeing the utterly critical situation

It is 60 € per day. That means 1800 € per month. Quite enough to survive imho.

Quite enough to survive, but is it quite enough to survive and also buy bitcoins? NO. They are not even thinking of buyign bitcoins at the moment, let alone think that they can afford to buy bitcoins. I guess that is the point amph tried making. Everybody praying for Bitcoin to be a savior to Greece is unrealistic, Greece doesn't need a savior, Bitcoin cannot be its savior. Simple.

how so? 1800 is more than enough for survive and buy bitcoin, you don't need more than 1k euro a month to eat and pay taxes, unless you spend your fiat in useless thing...you know

worst case they can save 1200 and the rest in bitcoin, everyone of them can buy at least 2 btc per month, so this should reverse 600x11M = 6.6B of money into the bitcoin market each month

but since there is only 14M coins, only a small portion of their citizens can buy that amount of coins and only for one month, the other will be able to buy much less than 1, if the market has all this great offer(i doubt, there are 11M coin available probably only 1M are available to purchase)

So you're assuming that everybody who gets their 60 euros back can afford to spend it? What if there is a family consisting of 6 people and only the provider of the family gets 60 euros everyday? What do they do then? Buy bitcoins? Stop concluding that buying bitcoins is a solution for Greece, man. It isn't. Bitcoin is a young blood in the market, why do people expect it to be a savior?

well if you read carefully my post, i said that those that have family cannot do it, but only if their 60 euro are earned from one householder, in the sense that only their father had a work int he past, but if their mom, recieve those 60 euro too, the thing would not be different from a person who live alone...

[chennan]

But they have to save them for the future. If banks have no incoming funds in the near future, I doubt that even 60 € per day limit will last long. They cannot pay the bill with bitcoin yet. So what is the point to converting money to bitcoin?

[BillyBones]

The banks are closed and Greeks unable to buy Bitcoin.

so they still can take a tiny portion of their money and buy bitcoin with those
but they will probably need that amount to survive, nobody in their right mind would buy bitcoin instead, seeing the utterly critical situation

Even if they buy bitcoin, who is going to exchange them, still large population of Greeks unaware of Bitcoin, for instance.... old and common people, it is a long procedure that to first explain about Bitcoin then how it's works and other things to them.

[Amph]

The banks are closed and Greeks unable to buy Bitcoin.

so they still can take a tiny portion of their money and buy bitcoin with those
but they will probably need that amount to survive, nobody in their right mind would buy bitcoin instead, seeing the utterly critical situation

Even if they buy bitcoin, who is going to exchange them, still large population of Greeks unaware of Bitcoin, for instance.... old and common people, it is a long procedure that to first explain about Bitcoin then how it's works and other things to them.

they do not need to exchange them, they need to wait first for the price to rise at a very high level , and then they can exchange them via localbitcoin or by going abroad, if you had a tons of money in bitcoin, and you can not exchange them locally, wouldn't you go abroad for it?