Distribute bitcoin to every Greek citizen

[hamdisonay]

The idea: distribute bitcoin to every greek citizen. N bitcoin per citizen.

Not an altcoin. Why? Bitcoin has security and a record.

1. TPTB have effectively isolated Greece from the international financial system.

2. Greek citizens still need to transact and have an economy. There are already reports of issuance of store scrip and other "currencies"


The relevance of point #1: Because the Greek economy is isolated from the international banking system, bitcoins that are distributed to Greece will be more difficult to turn back into fiat. I.e., if you give a Greek a bitcoin, where are they going to sell it? Online, and then transfer their newly obtained fiat to their Greek bank account - the account that's controlled by their government?

Relevance of points #1 and #2 combined - the current fiat value of bitcoin has little relevance to this application. Due to the financial isolation of Greece, a unique value for bitcoin will exist in greece, because people need to transact, get paid, and pay people.

An easy way to do this would be to distribute to employers, so they could pay their employees in bitcoin. But this has inherent problems.

Granted, their are difficulties associated with such an "airdrop", but if this catches, the headline is "bitcoin bails out the greek people".

Its not bailing out the banks. I think the banks would actually freak out about this, because if everyone had bitcoin, they wouldn't need to go back to their fiat accounts.

There's only 11 million people in greece.

[wagabee london]

the Price of bitcoin is too high it,s better that they make there own cryptocurrency to pay for wages and expenses bitdrachma or drachmae free coin to give for averyone but if anyone want to donate some bitcoins they can give them to me

[bryant.coleman]

Not a good idea. Here are the reasons.

1. Who will fund this? Imagine some one is ready to donate BTC11,000 for this purpose. That still works out to just BTC0.001 per Greek citizen, which is less than $1 in value.

2. Most of the Greeks have never heard about Bitcoins.

3. 99% of the Greeks don't know how to use them, or how to store them.

[hamdisonay]

Read the post. The price doesn't matter.

[jonald_fyookball]

Read the post. The price doesn't matter.

So then I fly to Greece and buy 100 hotels for $5 bucks.  Yeah, that makes sense.

[Lauda]

I don't understand why everyone is trying to save Greece? This isn't the first and last time that this has happened.
According to the Russian Agency Sputnjik (I can't find the correct source at the moment), between 1975. and 2006. 71 countries went bankrupt. Some went bankrupt even years later such as Iceland and Pakistan.

If you think that you can win the fight against the global oligarchy of bankers, think again and read this. I don't see the benefits of this project.

[Hopalong]

If you send 1BTC to every greek thats 11000000 coins. Probably more than there is totally...

Lets says we did it anyway and the greeks adobted it. Every BTC would soon be worth 50 times todays value. The problem now was just that only greeks had BTC and noone on this forum had any...


Se the problem when a lagre mass adobt a currency at once. BTC must grow slowly to become a real currency. Not go from a nerd fantasy to full scale economy overnight.

[krazey]

Someone is going to create GreekCoin soon enough.

[Lauda]

If you send 1BTC to every greek thats 11000000 coins. Probably more than there is totally...

Lets says we did it anyway and the greeks adobted it. Every BTC would soon be worth 50 times todays value. The problem now was just that only greeks had BTC and noone on this forum had any...

Se the problem when a lagre mass adobt a currency at once. BTC must grow slowly to become a real currency. Not go from a nerd fantasy to full scale economy overnight.

Stop talking nonsense and do proper research. Exactly where do you think that you can acquire 11 Million Bitcoin?
The current supply is ~14.35M. If you factor in the coins that Satoshi has, all thefts, losses and people who aren't willing to sell there is no way to find that amount of Bitcoin. Even if you buy up everything from every exchange you can't do that. Besides, why would anyone from the forum give his money away to Greeks? Are you trying to tell me that there are no people that have it worse?

Even if you just bought up 1M the price would skyrocket and you would not be able to buy more. I just don't understand how people can think like this. There is no problem with Bitcoin and mass adoption. We will trade in mBTC or other denominations and problem is solved. Your post is of no value.

Someone is going to create GreekCoin soon enough.

There is already a coin for them. Whoever creates such coins is most likely doing so for their own interest.

[yayayo]

I don't understand why everyone is trying to save Greece? This isn't the first and last time that this has happened.
According to the Russian Agency Sputnjik (I can't find the correct source at the moment), between 1975. and 2006. 71 countries went bankrupt. Some went bankrupt even years later such as Iceland and Pakistan.

If you think that you can win the fight against the global oligarchy of bankers, think again and read this. I don't see the benefits of this project.

I agree. Airdropping coins is stupid and does not help anyone (except the ego of the benefactors). Throwing more money at people that have shown they can't manage their funds will not lead to improvements in behavior. People have to get out of their dependency and help themselves. That's hard, but the only possible solution that will be sustainable.

Airdropping coins is also stupid in regard to the coin dropped, because if you get something for free, you are less likely to perceive it as valuable. In worst case, you might presume that the airdrop is done out of malicious motives - because nowadays, who is gonna give something away for free without expecting something in return?

ya.ya.yo!

[flix]

No need to go for a whole country. Start smaller. Choose a small Greek island or town, preferably with a lot of tourism. If it works there and people actually start using it for their daily transactions... then the rest of the country will follow.

Some time ago Coinapult tried to do this with a small Caribbean island, the idea was abandoned.


Szabo had a post about this in which he suggests just trying it with a small supply chain with a closed cycle.

closed cycle: store --> supplier --> workers --> store

http://unenumerated.blogspot.com.es/2015/07/the-greek-financial-mess-and-some-ways.html

[Hopalong]

If you send 1BTC to every greek thats 11000000 coins. Probably more than there is totally...

Lets says we did it anyway and the greeks adobted it. Every BTC would soon be worth 50 times todays value. The problem now was just that only greeks had BTC and noone on this forum had any...

Se the problem when a lagre mass adobt a currency at once. BTC must grow slowly to become a real currency. Not go from a nerd fantasy to full scale economy overnight.

Stop talking nonsense and do proper research. Exactly where do you think that you can acquire 11 Million Bitcoin?
The current supply is ~14.35M. If you factor in the coins that Satoshi has, all thefts, losses and people who aren't willing to sell there is no way to find that amount of Bitcoin. Even if you buy up everything from every exchange you can't do that. Besides, why would anyone from the forum give his money away to Greeks? Are you trying to tell me that there are no people that have it worse?

Even if you just bought up 1M the price would skyrocket and you would not be able to buy more. I just don't understand how people can think like this. There is no problem with Bitcoin and mass adoption. We will trade in mBTC or other denominations and problem is solved. Your post is of no value.

Someone is going to create GreekCoin soon enough.

There is already a coin for them. Whoever creates such coins is most likely doing so for their own interest.

Read the second sentence slowly a few times before you say i talk nonsense....

[hamdisonay]

I don't understand why everyone is trying to save Greece? This isn't the first and last time that this has happened.
According to the Russian Agency Sputnjik (I can't find the correct source at the moment), between 1975. and 2006. 71 countries went bankrupt. Some went bankrupt even years later such as Iceland and Pakistan.

If you think that you can win the fight against the global oligarchy of bankers, think again and read this. I don't see the benefits of this project.

I agree. Airdropping coins is stupid and does not help anyone (except the ego of the benefactors). Throwing more money at people that have shown they can't manage their funds will not lead to improvements in behavior. People have to get out of their dependency and help themselves. That's hard, but the only possible solution that will be sustainable.

Airdropping coins is also stupid in regard to the coin dropped, because if you get something for free, you are less likely to perceive it as valuable. In worst case, you might presume that the airdrop is done out of malicious motives - because nowadays, who is gonna give something away for free without expecting something in return?

ya.ya.yo!

1st bold: You are equating people with governments. The citizens of greece did not do this. This is like saying that every US citizen is responsible for the Iraq / Afghanistan war.

2nd bold - if everyone in greece was given the same amount of bitcoin, and things at the store were listed in bitcoin prices, and people were paid in bitcoin - they would see the value.

other posts: GreeceCoin already exist. One could try with an altcoin, but altcoins 1) are associated with scams 2) are easily manipulated in their early days. The people of greece (I assume) want some sort of reliable monetary system. Bitcoin is strong.

re: so then I fly to greece and buy 5 hotels. - that might make sense. Then greece becomes the new money capital of the world, because everyone flies their to do something with their bitcoins because its the one place in the world where bitcoin can do everything.

re: 1 bitcoin for every citizen. I wrote "N bitcoin", meaning, any number of bitcoin. it could be 0.2. it could be 0.5. Each bitcoin is worth 1 million transactions.

[dothebeats]

Hmm that wouldn't even solve much of Greece's problem in financial terms. Also, giving 11.03 million bitcoins to Greece (say 1BTC per individual) wouldn't be feasible for the network because no one will be willing to be a hero and give away millions of dollars to an economically-drowning nation. There is a way for Greece to bounce back, and we, as bitcoiners, are not heroes of the day to solve it all.

[tiggytomb]

Someone is going to create GreekCoin soon enough.

I am pretty sure there has been a greece coin already last year I think when coins named after countries were the altcoin trend.  It's too late for Bitcoin to save Greece as it takes time and money to adopt.

  I thnk if any virtual currency is going to save Greece it needs to be a new one formed and looked after from within Greece.  If it is done well with no scam it could be an interesting ride.

[BrianM]

Imagine making a fork and spawn 11 mil now bitcoins and give them to the Greeks. Think about how it would affect the value of you and mine bitcoin, basically will you half your savings... bad idea, community will riot and abandon bitcoin for a alternative coins (its not like there is no alternative there is like 11 milion different altcoins by now).

Next problem: How the hell will you distribute em? It would be so easy for someone to steal a huge chunck in the distribution process. One of the proberties with bitcoin that no other type of money have is that once you have stolen some coins, if proberly secuired then will the bitcoin be UNRETRIVABLE for the rightful owner, even if police get you, they neet to touture you to get the password... (tourture is still illigal unless it is done on none-western people).

[Hazir]

No, very bad idea. There is one major flaw in this plan and other pointed out this too. Who is gonna donate millions of coins to greece? Maybe you would do this?
You see bitcoin has no central economy, major financial institution or Bank of Federal Reserves. Bitcoin is peoples currency or you need to find some ultra wealthy person who will donate his coins.
It would be possible if that action would bring some investment back. But this is just a one side loan. Not gonna happen.

[gentlemand]

Airdropping is a pretty miserable idea. Coins either get dumped, squandered, lost or just sit there as no one knows what to do with them. Cards are rare enough in a lot of places in Greece. A crypto would be a curiosity and not much more.

Something would be better introduced via commerce. Businesses could offer change in the new coin, offer discounts and aim towards a closed loop. People need to know it has a sense of value instead of it magically teleporting into your computer.

[Lauda]

Read the second sentence slowly a few times before you say i talk nonsense....

If you send 1BTC to every greek thats 11,000,000 coins. Probably more than there is totally...

This makes everything that you said obsolete.

1st bold: You are equating people with governments. The citizens of greece did not do this. This is like saying that every US citizen is responsible for the Iraq / Afghanistan war.

2nd bold - if everyone in greece was given the same amount of bitcoin, and things at the store were listed in bitcoin prices, and people were paid in bitcoin - they would see the value.
-snip-
Each bitcoin is worth 1 million transactions.

1) Exactly who is working in this government? The citizens of Mars? During elections Greece had an usual high number of people employed (I've read about that somewhere, over 700k people), no wonder that they're going broke. They can't manage available funds at all. // Who voted for this government?
2) Star living within the realm of reality, not dream. We are unable to do that in thriving countries, then how do you expect that to happen in a country on the verge of bankruptcy?
3) I don't even know what to say..

Imagine making a fork and spawn 11 mil now bitcoins and give them to the Greeks. Think about how it would affect the value of you and mine bitcoin, basically will you half your savings... bad idea, community will riot and abandon bitcoin for a alternative coins (its not like there is no alternative there is like 11 milion different altcoins by now).

Next problem: How the hell will you distribute em? It would be so easy for someone to steal a huge chunck in the distribution process. One of the proberties with bitcoin that no other type of money have is that once you have stolen some coins, if proberly secuired then will the bitcoin be UNRETRIVABLE for the rightful owner, even if police get you, they neet to touture you to get the password... (tourture is still illigal unless it is done on none-western people).

Exactly, this can never work. Not for Greece, or any other country.

Did anybody read the link that I've previously posted? Read this before posting further nonsense.

[scarsbergholden]

The current state of the bitcoin economy is not enough to compare to a country's economic bitcoin is pretty small to what a country like Greece uses has a annual nations Budget deficit which is €6.356 billion just imagine that type of market cap on bitcoin a 6000x from what its now.