Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[macsga]

What we need to do is to get the word out to Greek businesses:
Pay your foreign suppliers with Bitcoin

How do they get the BTC? Cash seems in pretty short supply. They can transfer EUR within the country by bank transfer, but who'd accept that as payment?

(Is there a market for IOUs backed by greek bank deposits yet? I wonder what the going rate would be...)

You'd get cash by paying a premium: exchange 1000 Euros from your bank account to the account of Greek with 900 Euros paper cash. Then you'd take that cash and put in in the BTM in the North Athens bookstore in exchange for BTC. Or buy on localbitcoins.com.

Not that easy when you're forced to withdraw only 60Eur per day just for your basic needs. Still the idea is legit and stands as an alternative but for other kind of "investors". There's a huge amount of money moved out of Greece since 2010. Those money are fully functional and could be used for buying BTCs. Then the process would work inside Greece from localbitcoins and/or P2P transactions.

[Fatman3001]

The welfare state destroyed the capital structure, now it does not produce much of anything.

what a bunch of bs. on the contrary: it's the capital that is destroying the welfare state.

all those austerity measures and zee german stories about "commie" gov in greece or lazy greeks is about it: cut your pensions, cut your services.

WTH! Tarmi is starting to talk some sense!

[Krabby]

Is good?

[tarmi]

about bitfinex credit expansion & shenanigans.




where did those 600 k ltc come from and where are they now?

[Erdogan]

Greece owed the European Central Bank a few million euros last week. They defaulted on that payment. That's what the whole "extensions" were about last week. Since they did not make that payment the ECB cut off further funds which was the reason for the bank closures.

I am not sure of what the consequences of defaulting on the IMF would be, there have only been 3 other countries in history that have defaulted (Argentina, Jamaica and Equador).

They owe the ECB 3.5 billion euros in July.

That is the payments due. Debt to the troika, to private equity funds, the emergency liquidity assistance, and the trans-european automated real-time gross settlement express transfer version 2 system, adds up to six hundred giga-euros, or about a hundred kilo-euros per greek soul.

[Paashaas]

Im happy that i bought extra coins this morning before i went to work, came home and it's up again, nice!

[Ivanhoe]

Don't you worry, don't you worry child. Bitcoin has got a plan for you.

https://www.youtube.com/watch?v=yc6Hp_Zq3rU

[billyjoeallen]

What we need to do is to get the word out to Greek businesses:
Pay your foreign suppliers with Bitcoin

How do they get the BTC? Cash seems in pretty short supply. They can transfer EUR within the country by bank transfer, but who'd accept that as payment?

(Is there a market for IOUs backed by greek bank deposits yet? I wonder what the going rate would be...)

You'd get cash by paying a premium: exchange 1000 Euros from your bank account to the account of Greek with 900 Euros paper cash. Then you'd take that cash and put in in the BTM in the North Athens bookstore in exchange for BTC. Or buy on localbitcoins.com.

Not that easy when you're forced to withdraw only 60Eur per day just for your basic needs. Still the idea is legit and stands as an alternative but for other kind of "investors". There's a huge amount of money moved out of Greece since 2010. Those money are fully functional and could be used for buying BTCs. Then the process would work inside Greece from localbitcoins and/or P2P transactions.

In the free market, every problem is an entrepreneurial opportunity for somebody.  Both parties are always better off because it's a voluntary transaction that otherwise wouldn't take place. That's what morons like Tarmi can't wrap their tiny little brains around.  

[Erdogan]

Sorry if I'm reposting but this is just hilarious:

https://www.indiegogo.com/projects/greek-bailout-fund#/

I wouldn't really want my beer money disappearing down the toilet of international finance but it's a fun idea to focus minds. Maybe it has national applications in the future.

All these incompetently run hell holes should just bypass governments and aid budgets and fund the building of their infrastructure that way. Far more efficient. I'm not sure it would go down too well with the local dictator but I guess they'd be allowed to cut the ribbon with some giant scissors.

If you want to help the greeks, use the blue market. Go there, pay with cash, don't ask for a receipt. Take a bunch of olives back home.

Isn't this how their problems started in the first place?

No, the welfare state. The cost was hidden with galloping loans. The welfare state destroyed the capital structure, now it does not produce much of anything. Effective tax collection would not have been enough, and it would further have reduced the value generating capacity of the land.

However, every corrupt politician in europe, every corrupt crony capitalist, every corrupt central banker, every leeching violent union leader are talking their book. It is not easy for common people to understand, as long as they only skim the headlines in the main stream media, and never got proper education.

what a bunch of bs. on the contrary: it's the capital that is destroying the welfare state.

all those austerity measures and zee german stories about "commie" gov in greece or lazy greeks is about it: cut your pensions, cut your services.

I am bullshitting your bullshitting, but I agree that austerity on the part of the people through tax increases destroys not the welfare state, but the capital structure. Austerity on the part of the government is sorely needed.

Come to think of it, we are not much in agreement after all.

Edit: Reintroduced proper quoting. Fucking selective quote occultist!

[jt byte]

I honestly wouldn't be surprised to see a steady rally right back up to $300.

I see the moon baby

[jt byte]

[ronald98]

I honestly wouldn't be surprised to see a steady rally right back up to $300.

I see the moon baby

It can take a long time to wire money from a bank account to an exchange, sometimes close to a week. Towards the end of this week wired money will be arriving in exchanges and it could rapidly drive the price higher than we expect. $300 might happen sooner than we think.

[tarmi]

I am bullshitting your bullshitting, but I agree that austerity on the part of the people through tax increases destroys not the welfare state, but the capital structure. Austerity on the part of the government is sorely needed.

can't get it more wrong than that.

austerity measure by definition is an attempt to preserve the neoliberal capitalist model and the current capital structure.

[SnokkomBTC]

I honestly wouldn't be surprised to see a steady rally right back up to $300.

I see the moon baby

It can take a long time to wire money from a bank account to an exchange, sometimes close to a week. Towards the end of this week wired money will be arriving in exchanges and it could rapidly drive the price higher than we expect. $300 might happen sooner than we think.

just a 15% increase to hit 300 $ +

[BlackSpidy]

I see the moon baby

And the moon baby sees us.


Now, if you look to your right, you'll see the moon baby.
Our pilots changed the course just so that we could get
a glimpse at him before we land on the moon.

[ChartBuddy]

Coin
Explanation

[nanobrain]

266 is such a significant number....has so many good/bad memories.

[jt byte]

[KFR]

266 is such a significant number....has so many good/bad memories.

Word.

[elasticband]

266 is such a significant number....has so many good/bad memories.

Word.

someone is teasing