Leaving eurozone - Greece & Bitcoin

[gogxmagog]

I think we will see Greece's crisis effect soon and there will be huge investment in Bitcoin in near future.This is very short period to calculate the impact.In future people will prefer to keep their savings and earnings in Bitcoin instead of banks after facing so many troubles in recent crisis.Bitcoin has huge opportunity in Greece just need more awareness and time to be well known by common people.

Actually, the more I think about it, and the more I look at the past few days' charts, I believe we will see daily action much the same as today.
Greeks can only get 60 euros a day. They can't spend it all on BTC they need the necessities, so, at most, after groceries and gas etc. the average Greek will have maybe 20 euro (if even) to stash. If more than 40% of Greeks put that 20 into BTC we will see spikes in the price like today's, not insignificant, but weak and short lived. However, if this process is repeated daily and more and more Greeks get on board, it will have a deeper effect on price.

I'm no economist and I have no solid proof to back this up but it just seems rational to me.

[scarsbergholden]

If Greece leave the eurozone a lot of their people will be hurting, most likely to come a huge political change and it would be interesting to see if Russia is going to help out Greece if it does leave the Eurozone.

[unamis76]

If Greece leave the eurozone a lot of their people will be hurting, most likely to come a huge political change and it would be interesting to see if Russia is going to help out Greece if it does leave the Eurozone.

if they leave, Russia will most definitely come to them. Either Russia or China

[ingiltere]

If Greece leave the eurozone a lot of their people will be hurting, most likely to come a huge political change and it would be interesting to see if Russia is going to help out Greece if it does leave the Eurozone.

if they leave, Russia will most definitely come to them. Either Russia or China

Why Russia or China?

Greece was under Turkish rule for 400 years*, They can exit Euro and adopt Turkish Lira

Turkish rule: https://en.wikipedia.org/wiki/History_of_Greece#Ottoman_rule_.2815th_century_.E2.80.93_1821.29

[unamis76]

If Greece leave the eurozone a lot of their people will be hurting, most likely to come a huge political change and it would be interesting to see if Russia is going to help out Greece if it does leave the Eurozone.

if they leave, Russia will most definitely come to them. Either Russia or China

Why Russia or China?

Greece was under Turkish rule for 400 years*, They can exit Euro and adopt Turkish Lira

Turkish rule: https://en.wikipedia.org/wiki/History_of_Greece#Ottoman_rule_.2815th_century_.E2.80.93_1821.29

Greece is a strategic country in what concerns military purposes. It's also home to a government who said "we don't pay" and who is questioning the authority of the EU leaders and isn't accepting their terms as is. This is pleasant to those countries.

Now I question you, why Turkey? I haven't been seeing reports or rumors of such collaboration in the news, and historical reasons aren't enough, I think

[albert73]

If Greece leave the eurozone a lot of their people will be hurting, most likely to come a huge political change and it would be interesting to see if Russia is going to help out Greece if it does leave the Eurozone.

if they leave, Russia will most definitely come to them. Either Russia or China

Why Russia or China?

Greece was under Turkish rule for 400 years*, They can exit Euro and adopt Turkish Lira

Turkish rule: https://en.wikipedia.org/wiki/History_of_Greece#Ottoman_rule_.2815th_century_.E2.80.93_1821.29

Greece is a strategic country in what concerns military purposes. It's also home to a government who said "we don't pay" and who is questioning the authority of the EU leaders and isn't accepting their terms as is. This is pleasant to those countries.

Now I question you, why Turkey? I haven't been seeing reports or rumors of such collaboration in the news, and historical reasons aren't enough, I think

Russia has signed a deal with Greece to build a gas pipeline through it to supply Europe. That's going to be very lucrative to Russia and is a good reason for it to help Greece financially. Russia already said it would consider helping financially if Greece is in dire need.

[OROBTC]

...

unamis76

Re the idea of a 30% haircut ("bail-in") in Greece, here is a link (July 3):

http://www.zerohedge.com/news/2015-07-03/greek-banks-considering-30-haircut-deposits-over-%E2%82%AC8000-ft-reports

Do check out the cartoon ("Bankruptcy Cypriot Style").

If ANY kind of bail-in happens, this would be the second time in Europe.  IMO it would rive the demand for BTC up a lot once people start thinking...

[unamis76]

If Greece leave the eurozone a lot of their people will be hurting, most likely to come a huge political change and it would be interesting to see if Russia is going to help out Greece if it does leave the Eurozone.

if they leave, Russia will most definitely come to them. Either Russia or China

Why Russia or China?

Greece was under Turkish rule for 400 years*, They can exit Euro and adopt Turkish Lira

Turkish rule: https://en.wikipedia.org/wiki/History_of_Greece#Ottoman_rule_.2815th_century_.E2.80.93_1821.29

Greece is a strategic country in what concerns military purposes. It's also home to a government who said "we don't pay" and who is questioning the authority of the EU leaders and isn't accepting their terms as is. This is pleasant to those countries.

Now I question you, why Turkey? I haven't been seeing reports or rumors of such collaboration in the news, and historical reasons aren't enough, I think

Russia has signed a deal with Greece to build a gas pipeline through it to supply Europe. That's going to be very lucrative to Russia and is a good reason for it to help Greece financially. Russia already said it would consider helping financially if Greece is in dire need.

Yes, I forgot to mention that. The has pipe is big news. They are surely becoming friends and Moscow is going to be really close to Athens if Greece leaves the eurozone.

...

unamis76

Re the idea of a 30% haircut ("bail-in") in Greece, here is a link (July 3):

http://www.zerohedge.com/news/2015-07-03/greek-banks-considering-30-haircut-deposits-over-%E2%82%AC8000-ft-reports

Do check out the cartoon ("Bankruptcy Cypriot Style").

If ANY kind of bail-in happens, this would be the second time in Europe.  IMO it would rive the demand for BTC up a lot once people start thinking...

Truly devastating if this happens. let's see if it isn't more than a "malicious rumor". Greeks will have to start thinking seriously if this happens (thinking in BTC, of course )

[LiteCoinGuy]

no more Varoufakis 

[scarsbergholden]

The political games on this greece crysis are just crazy, then we have to see and wait what comes of Greece leaving the Eurozone, it looks like the pipeline has a lot of benefits for greece https://www.youtube.com/watch?v=gGq8C3SEay8

[qwep]

The political games on this greece crysis are just crazy, then we have to see and wait what comes of Greece leaving the Eurozone, it looks like the pipeline has a lot of benefits for greece https://www.youtube.com/watch?v=gGq8C3SEay8

RT is now like the trendy online news media to go to i guess, Good info tho.

Greece leaving the Euro zone or not is a big political game.

[fox19891989]

It is good speculation for bitcoin actually, it is very awesome haha, I remember bitcoin's first bubble came in early 2013, because of Cyprus, so we can see the price is going up again, I think people are speculating bitcoin and Greece, we may see next bubble for bitcoin is incoming, let's make fiat money from this time, and sell high buy low is the always the best tactic.

[scarsbergholden]

It is good speculation for bitcoin actually, it is very awesome haha, I remember bitcoin's first bubble came in early 2013, because of Cyprus, so we can see the price is going up again, I think people are speculating bitcoin and Greece, we may see next bubble for bitcoin is incoming, let's make fiat money from this time, and sell high buy low is the always the best tactic.

Yea is fun to see the media just making more and more statement about bitcoin and what could be a possible solution, just in this week alone we have seen a 40 usd raise on the price, imagine if there was some promo about bitcoin in Greece or if Roger ver was in Greece right now!

[chrisvl]

Some peoples wish a Grexit only to see the bitcoin price increasing and sell them

flip side

[abcdave]

Some peoples wish a Grexit only to see the bitcoin price increasing and sell them

flip side

Well sadly some people only care about profit but there are different types of bitcoiners. Some care about bitcoin actually freeing or liberating people whilst others just want a quick profit. Of course there are those in between too. I'd like the price to rise but only so I can get more bang for my buck and would want to actually spend my coins on goods/services as opposed to cash them out.

[unamis76]

no more Varoufakis 

I think he didn't do wrong in leaving. Nobody liked him in the Eurogroup, Tsipras handles negotiations pretty well (some greeks say that he should be prime minister and replace Varoufakis at the same time) and Varoufakis would probably make too many demands, prolonging the negotiations way further and making things worse for Greece.

The political games on this greece crysis are just crazy, then we have to see and wait what comes of Greece leaving the Eurozone, it looks like the pipeline has a lot of benefits for greece https://www.youtube.com/watch?v=gGq8C3SEay8

Yes, quite a lot of b€n€fits as you can see

[Amph]

Some peoples wish a Grexit only to see the bitcoin price increasing and sell them

flip side

some want the price to rise not because they need to be rich, but because they can acquire more thing with just one bitcoin, spending bitcoin now with such ridiculous value, it feel like a waste, when you consider that in the future a whole bitcoin can buy you a car or even an house, in a very distant future...

[chrisvl]

Some peoples wish a Grexit only to see the bitcoin price increasing and sell them

flip side

some want the price to rise not because they need to be rich, but because they can acquire more thing with just one bitcoin, spending bitcoin now with such ridiculous value, it feel like a waste, when you consider that in the future a whole bitcoin can buy you a car or even an house, in a very distant future...

70% of bitcoin users wants to be rich using bitcoin..

[Snorek]

Bitcoin is till treated by majority of its users as a speculation tool instead of full fledged payment method and currency. We still are community full of holders.
Linking Greece with bitcoin is wishful thinking imo, for greeks Bitcoin is just hipster tool, it is not suitable replace euro on a daily basis.
Maybe Bitcoin will be utilized more when Greeks will return to Drachma (if they do it) Because with strong euro there is no point really.

[ebliever]

1. As many have mentioned, Greeks currently are cash-poor and likely to remain such in the near term, so they can't easily buy bitcoin directly.

2. On the flip side, some observe that this is an excellent opportunity for Greek businesses, particularly tourist ones, to start accepting bitcoin as a means of evading currency controls and the whole banking system. Once bitcoin starts flowing in through tourism and any other export industries, it can begin circulating within a new Grecian bitcoin ecosystem and more Greek businesses begin accepting it.

3. Greeks are beginning to grow very anxious, and the reports that banks may run dry within a day or two, and rumors of huge confiscations of bank deposits are going to cause desperation sooner than later. If the right tools are presented to them to use bitcoin, I think we could indeed see a great many Greeks turn to bitcoin because of that desperation and frustration with the powers that be.

I said a few days ago that I don't really see a near-term risk to the price of bitcoin. So far so good, but I think this is just the prologue unless one side caves quickly in the political squabbling. And even then there is a lot of damage to be done, which will still help drive people to bitcoin.

There are millions more in Portugal, Spain, Italy and elsewhere who also have to be looking at this and thinking "Geez, I can't afford to wait until the banks close on me. I've got to make sure I have an exit strategy NOW!" Bitcoin and the alts will be fighting with gold/silver for their funds.