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Author Topic: Greece using alternate currency to cope with economic collapse  (Read 2437 times)
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May 26, 2012, 03:18:28 AM
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http://www.bbc.co.uk/news/business-17686384
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May 26, 2012, 09:42:28 AM
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Such systems are in effect not only in Volos city. There are other places that have various virtual currencies. Unfortunately Bitcoin adoption in Greece is a bit more than ... none! Sad

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May 26, 2012, 07:21:14 PM
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related thread: https://bitcointalk.org/index.php?topic=81500.0

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May 28, 2012, 09:35:49 AM
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Maybe Greece can follow Russia's 1998 example when things get a bit tight:

http://news.bbc.co.uk/2/hi/uk_news/education/177421.stm

"Teachers in part of western Siberia are being paid in bottles of vodka, because the authorities have no money to meet their wages bill."

"The teachers in the most populous Maima district of the Altai republic are getting 15 bottles each. They have not been paid their proper salaries since February or March. "

Talk about liquid assets!  And if the price of vodka tanks you can at least have a very good time.  Maybe the Greeks can try this with Ouzo.

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May 29, 2012, 04:16:27 PM
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Maybe Greece can follow Russia's 1998 example when things get a bit tight:

http://news.bbc.co.uk/2/hi/uk_news/education/177421.stm

"Teachers in part of western Siberia are being paid in bottles of vodka, because the authorities have no money to meet their wages bill."

"The teachers in the most populous Maima district of the Altai republic are getting 15 bottles each. They have not been paid their proper salaries since February or March. "

Talk about liquid assets!  And if the price of vodka tanks you can at least have a very good time.  Maybe the Greeks can try this with Ouzo.


Not enough Ouzo production to cover the need Tongue

Seriously now... It's not just Greece's problem. Greece was the first target. If nothing is done centrally within the Euro Zone, in one year's time Spain will be where Greece is now and in two year's time I see France in the same position. The main target is the Euro Zone itself.

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May 31, 2012, 01:39:29 AM
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Maybe Greece can follow Russia's 1998 example when things get a bit tight:

http://news.bbc.co.uk/2/hi/uk_news/education/177421.stm

"Teachers in part of western Siberia are being paid in bottles of vodka, because the authorities have no money to meet their wages bill."

"The teachers in the most populous Maima district of the Altai republic are getting 15 bottles each. They have not been paid their proper salaries since February or March. "

Talk about liquid assets!  And if the price of vodka tanks you can at least have a very good time.  Maybe the Greeks can try this with Ouzo.


Not enough Ouzo production to cover the need Tongue

Seriously now... It's not just Greece's problem. Greece was the first target. If nothing is done centrally within the Euro Zone, in one year's time Spain will be where Greece is now and in two year's time I see France in the same position. The main target is the Euro Zone itself.

That's probably the biggest problem with this crisis.  After the Greece problem is solved (by booting them out of the Euro or throwing billions more towards them) the market will sharpen its knives again and go after the other low hanging fruit: Portugal, Spain, and to a lesser extent, Belgium, Italy. 

In a related matter, it seems like either memories are short or people think they can get out before the next bubble collapses and leave someone else holding the bag.  Iceland is blowing a brand new property bubble:  http://www.bloomberg.com/news/2012-05-29/iceland-property-bubble-grows-with-currency-controls-mortgages.html

This time it seems foreign investors can't get their money out of Iceland, so they're blowing more bubbles instead.  Bitcoin isn't nearly big enough to smuggle the stranded cash out of the country.

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June 01, 2012, 06:40:19 AM
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its really to bad they aren't using bitcoin

wheres all the Greek bitcoiners?

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June 01, 2012, 07:52:17 AM
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Also, new Keiser Report: http://www.youtube.com/watch?v=Hhi2BBfbZU8

They suggest a silver standard for Greece. His guest seems to be too old to have heard of bitcoin (or understand it) unfortunately.  Undecided

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June 01, 2012, 07:55:54 AM
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Be nice if we could put together a fund to send some reps out spread the word on bitcoin! (you know, like the Christians did)

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June 01, 2012, 01:11:20 PM
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Bitcoins waren't invented to be mainstream, the simple fact that there's a limited number of them is a pretty solid clue.
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June 01, 2012, 01:50:58 PM
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they're really so limited? omg  Shocked

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June 01, 2012, 03:55:17 PM
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Also, new Keiser Report: http://www.youtube.com/watch?v=Hhi2BBfbZU8

They suggest a silver standard for Greece. His guest seems to be too old to have heard of bitcoin (or understand it) unfortunately.  Undecided

Remember early last year when he suggested everyone go out and buy silver because it was about to boom?  Bring down the big banks holding the price down?  Didn't work out so well.  I used the mini bubble and reports such as his as indicators to sell.  Did rather well.

He seems to have a thing for silver.  No country on the planet is going to link its currency to a commodity that can't be arbitrarily created.  Governments aren't that stupid. 

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June 03, 2012, 04:12:41 PM
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Bitcoins waren't invented to be mainstream, the simple fact that there's a limited number of them is a pretty solid clue.

Limited how? That little decimal place is quite mobile.

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June 04, 2012, 07:01:35 PM
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He seems to have a thing for silver.  No country on the planet is going to link its currency to a commodity that can't be arbitrarily created.  Governments aren't that stupid. 

It has very little to do with stupidity, and a lot to do with practicality. Storage and maintenance costs are a multiple of that for gold, as are shipping costs; silver also "flows" much more than gold in that warehouses will move more volume of silver for industrial purposes than gold, which can sit indefinitely as a financial instrument.

For those reasons, silver may not be used as a reserve by the majority of national governments, but it will retain a de facto currency status among many populations around the world. Next to gold, silver is the most available and stable commodity currency in existence - that isn't changing anytime soon.
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June 05, 2012, 05:26:27 PM
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Just in case Greece opts out of the euro and decides to go with bitcoin, Paytunia is now translated in greek for android mobile phones  Grin


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June 07, 2012, 05:42:58 PM
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If we did send out missionaries and gave everyone who needed one a cheap android phone and 1 bitcoin each, and then told them the value of a bitcoin, it honestly could start something!
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June 09, 2012, 08:11:15 AM
 #17

Maybe we can setup a greek bitcoin exchange funded by issuing shares on glbse ?

Call it a community outreach program Smiley

of course you would probably need a local to perform the in person exchanging and publicity etc.




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June 10, 2012, 05:37:23 PM
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Also, new Keiser Report: http://www.youtube.com/watch?v=Hhi2BBfbZU8

They suggest a silver standard for Greece. His guest seems to be too old to have heard of bitcoin (or understand it) unfortunately.  Undecided

"So in Ireland they're determining whether or not to vote for the European Fiscal Treaty, because voting yes is going to bring stability, like the stability that monarchs and Qaddafi and Ben Ali and Mubarak brought."

Good old Keiser report.

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June 11, 2012, 01:05:10 PM
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If we did send out missionaries and gave everyone who needed one a cheap android phone and 1 bitcoin each, and then told them the value of a bitcoin, it honestly could start something!

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