Bitcoin trending in greece!

[Hopalong]

Greeks not paying TAX is on of the main contributions to todays situation...

[Amph]

Though there is a big rise on Greek Google search, it is a little effect on Bitcoin price.

because greece are not actually buying bitcoin, the last price increase is build only on the top of their hype, none with a family in greece is buying anything

minus some random rich person

[Hamuki]

Well, lets see what happens.

I know that the banks are closed.. But does that also mean that the online banking system is down?

Because if it was up, I would have bought all the BTC I could with my useless money in the bank.

[madonnino]

if I were a citizen greek, I also would have sought alternative solutions to the problem of the banks and that can cause you discomfort, have their money stuck without possibility 'of use.
Maybe now they understand better the concept of decentralization, and "be your own bank"

[S4VV4S]

Well, lets see what happens.

I know that the banks are closed.. But does that also mean that the online banking system is down?

Because if it was up, I would have bought all the BTC I could with my useless money in the bank.

AFAIK electronic banking is available but with limits.
They don't want money leaving the country so sending money to another country is not possible unless for business and you need to prove that.
So I don't think the Greeks are able to do what you are saying.

[Kakmakr]

The ATM's are running dry, and they are not being filled again. The local debit and credit card payments are temporarily frozen and they have limits on the daily withdrawal from banks.
People are desperate to get their hands on their own money, how ironic is that? This will never happen with Bitcoin, because you have full control over your private keys. It's a bloody mess ^hmf^

[Borisz]

Well, lets see what happens.

I know that the banks are closed.. But does that also mean that the online banking system is down?

Because if it was up, I would have bought all the BTC I could with my useless money in the bank.

AFAIK electronic banking is available but with limits.
They don't want money leaving the country so sending money to another country is not possible unless for business and you need to prove that.
So I don't think the Greeks are able to do what you are saying.

I think there was a Greek exchange where you could exchange Euros to BTC within the country. And as it is a Greek business, its money transfer within the country hence only fewer limits apply.

I think the site was www.btcgreece.com

[chek2fire]

Little late for them now, considering they can only withdraw 60 Euro/day.

not with ebanking. With ebanking is unlimited the money that can you transfer to ebank greek account. The lucky in this story is the only one bitcoin exchange in Greece btcgreece.com. I think is the only one here in greece that still sell bitcoins.

[Herbert2020]

https://www.google.com/trends/explore#q=Bitcoin&geo=GR&cmpt=geo&tz=Etc%2FGMT-2

the price rise clearly shows the Greeks showing interest in bitcoin and the news also makes others buy bitcoin too because they don't want to lose this opportunity for profiting.

also i have heard that exchangers are reporting that they are getting increasing  requests from Greece on their website and also there are a lot of question asked by greeks on how to buy bitcoin.

[AtheistAKASaneBrain]

Greece has now until 20th of july to pay a series of bonds which are key to deduce where this is going to go. If they don't pay the 20th of july, it's pretty much game over at that point, and a Grexit is a bigger % of the outcome.

[IIOII]

Little late for them now, considering they can only withdraw 60 Euro/day.

not with ebanking. With ebanking is unlimited the money that can you transfer to ebank greek account. The lucky in this story is the only one bitcoin exchange in Greece btcgreece.com. I think is the only one here in greece that still sell bitcoins.

People with a Greek bank account that sell BTC for wire transfer must be crazy. There's a high probability that they will loose a large part of their funds when the banks do a restructuring using their customer's deposits...

Greece has now until 20th of july to pay a series of bonds which are key to deduce where this is going to go. If they don't pay the 20th of july, it's pretty much game over at that point, and a Grexit is a bigger % of the outcome.

Game over will be within the current week, if the ECB does not provide further liquidity ASAP.

[ajareselde]

It's a bit late now for them, it's pitty that they just now realized the advantage they could have utilize to secure their funds and avoid dealing with the notorious middle man.
I believe that now is the correct time not to advocate bitcoin in Greece, but rather to other countries that could face the same catastrophe as they did.
Bitcoin is more like preventive measure, than it is a miracle cure for ruined economy and society.

cheers

[GreenStox]

Bitcoin must conquer greek finances.

I mean would you rather have "quicksand" in your hands that slips through your fingers named fiat toilet paper?

C`MON the euro is pretty done for, all EU banks are insolvent, the only thing keeping them alive is the massive 1.6 trillion QE that the ECB does until september.

I think after september they will inevitably do a round 2, round 3, and so on.

Hyperinflation is coming folks....

[daoneway]

greeks rushing litecoin hahaha

[AtheistAKASaneBrain]

https://www.google.com/trends/explore#q=Bitcoin&geo=GR&cmpt=geo&tz=Etc%2FGMT-2

the price rise clearly shows the Greeks showing interest in bitcoin and the news also makes others buy bitcoin too because they don't want to lose this opportunity for profiting.

also i have heard that exchangers are reporting that they are getting increasing  requests from Greece on their website and also there are a lot of question asked by greeks on how to buy bitcoin.

I think the people actually buying BTC is rather small, it's the speculation about it that it's making the price go up. Most of the people that hear it will not take the step and buy, only a small percentage will actually do it.
If I was greek I would be trying to buy as much as possible online basically because I would be scared o a haircut more than I would be about BTCs volatility.

[Amph]

greeks rushing litecoin hahaha

nothing to do with that, those are whales pumping it as usual

greece can barely survive with their heavy restriction, did you see the news that many merchants there are not able to sell anything(car, moped, airline tickets ecc...), there is no money anymore they can't for sure afford to do a pump of any kind be serious...

[aso118]

Most Greeks already know bitcoin too late, they know after government set rules maximum withdraw 60 Euro/Day
Only small group of Greeks who really buy biycoin, most Greeks still prefer iMac / PS4 than bitcoin.

The new gold: Fearful Greeks max out credit cards buying iMacs and PlayStations

Banks will remain closed until at least 9 July, having not opened at all this week, and capital controls mean Greeks cannot withdraw more than €60 (£43) each day from banks. But credit and debit cards can be used as normal,

Credit cards can be used as normal? This seems to be a big loophole.

[Argwai96]

the most harder hit in this crisis was the retire folks, a big part of then now being able to withdraw their pension and some of them receiving partial payment of it.
hopefully the situation gets better by this coming monday.

[NorrisK]

Most Greeks already know bitcoin too late, they know after government set rules maximum withdraw 60 Euro/Day
Only small group of Greeks who really buy biycoin, most Greeks still prefer iMac / PS4 than bitcoin.

The new gold: Fearful Greeks max out credit cards buying iMacs and PlayStations

Banks will remain closed until at least 9 July, having not opened at all this week, and capital controls mean Greeks cannot withdraw more than €60 (£43) each day from banks. But credit and debit cards can be used as normal,

Credit cards can be used as normal? This seems to be a big loophole.

That would mean that they have the opportunity to buy bitcoin from their local exchange probably! Wonder if that is how they are buying bitcoin.

[tsoPANos]

http://www.kathimerini.gr/822812/article/oikonomia/ellhnikh-oikonomia/ay3hsh-synallagwn-me-bitcoin-eferan-ta-capital-controls

One of the most circulated newspapers there.