[2017-02-19] Can the Bitcoin Economy Help Greeks Hide Their Wealth?

[TwoTimes]

Greece continues to suffer from economic turmoil as European lenders and the International Monetary Fund (IMF) struggle to impose austerity measures across the country. Furthermore, in just over a month, in spite of Greek capital control restrictions, citizens have withdrawn 2.5 billion euros from regional banks. The turbulent economy in Greece may once again cause more demand for bitcoin as a safe haven.

Greek citizens are only allowed to withdraw 1,800 euro per month due to capital control restrictions. However, the country’s capital flight policies have not stopped a vast amount of Greek residents from taking their funds out of the banks this past month. Throughout the years of economic depression surrounding Greece, bitcoin has become a widely suggested alternative currency for the country’s citizens. Demand stemming from the neighboring Republic of Cyprus’s debt problems had seemingly caused a spike in bitcoin’s price in 2013. In July 2015, the infamous Grexit also may have spurred demand for the cryptocurrency.

Read more here: https://news.bitcoin.com/can-the-bitcoin-economy-help-greeks-hide-their-wealth/

[1714754364]

1714754364

[1Referee]

Bitcoin can surely offer a helping hand here, but in case of the average people I think it's more likely for them to head over and find themselves physical Gold to scoop up. If you look at the elderly, then it's obvious that they don't seem to trust anything anymore, which is exactly why I believe Gold will be their preferred option. In case of the younger more tech minded generation, if they happen to understand what Bitcoin is, and how it can help them to outrule the governmental and banking system, then they will surely dive into Bitcoin.

[veleten]

Greece continues to suffer from economic turmoil as European lenders and the International Monetary Fund (IMF) struggle to impose austerity measures across the country. Furthermore, in just over a month, in spite of Greek capital control restrictions, citizens have withdrawn 2.5 billion euros from regional banks. The turbulent economy in Greece may once again cause more demand for bitcoin as a safe haven.

such a surprise that people of Greece refuse to be driven into poverty by the thieving IMF daylight robbers
it is also funny,because Greece is a EU member,so there is this need to keep it civil and not rob openly
as they are doing in other places (Ukraine for example)
read this book by John Perkins :Confessions of an Economic Hit Man (2004) to understand the mechanisms used to enslave countries and regions alike
adopting bitcoins will not save greeks from the inevitable,but may give them instruments to circumvent the restricions