Yanis-Varoufakis-Greece, Bitcoin WILL save them from Europe. It won't be pretty.

[unsoindovo]

Varoufakis is delusional. There's no way they are going to intimidate the Troika. Plus there is legit debt that they owe to them, not all is scam debt.

hi manselr!

maybe 'ru german?

 

[1714626379]

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[1714626379]

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[chek2fire]

Im extremely interested in the outcome of Greece, i'll listen to this later. But in any case I dont see them making Bitcoin the official Greece coin so to speak. People is too dumb to adapt all of a sudden to Bitcoin. Its too crazy and experimental to make it the currency of an entire nation.
Then again they are in a dead end on the 28th, unless they arrive at agreement with Merkel which is not gonna happen.

I'm also very interested what will happen in Greece.
I don't think that thy can simple change Euro with bitcoin and that this will fix all their financial problems.
Nobody will forgive them their financial debts and I don't think that EU will ever accept repayments in BTC instead of Euro
BTC can be good solution for them if they ever decide to give up from Euro but until they resolve this financial situation this is not possible.

i agree with you!!!
for sure, they cannot simple change Euro with bitcoin and and fix all their financial problems.
but i agree with varoufakis...
why germat, after second world war, get a 50% disocunt on debit war...
which is more serious...
and greek cannot???

really strange!

 

from wiki

"The total under negotiation was 16 billion marks of debt resulting from the Treaty of Versailles after World War I which had not been paid in the 1930s, but which Germany decided to repay to restore its reputation. This money was owed to government and private banks in the U.S., France and Britain. Another 16 billion marks represented postwar loans by the U.S. Under the London Debts Agreement of 1953, the repayable amount was reduced by 50% to about 15 billion marks and stretched out over 30 years, and compared to the fast-growing German economy were of minor impact.[2]"

This picture is from 1953 when the greek prime minister Mr Karamnlis sign the 50 % haircut of German loan . Greece was one of many countries that Germany has debt with them.

[silversurfer1958]

The logic of his views are flawed, but I doubt he'll change his mind, a hacker can break into your PC and steal Govt issued funds.
As for Bitcoin's 'value' being too small, that would massively increase if a nation adopted it because Bitcoin, unlike Govt issued fiat is a truly limited commodity, greater adoption would by definition increase it's inherent value.
I'd rather trust Cryptography than fiat issued by any politician, except maybe Ron Paul.

[redHairy]

This picture is from 1953 when the greek prime minister Mr Karamnlis sign the 50 % haircut of German loan . Greece was one of many countries that Germany has debt with them.

correct!!!

and thanks for the clarification!!!

...iforgot to mention this important detail!

 

[Agree it]

Just created #SupportGreeceBuyBitcoin on twitter

[LiteCoinGuy]

BITCOIN: A flawed currency blueprint with a potentially useful application for the Eurozone

The responses of many to my post on Bitcoin reveal a powerful tendency to underestimate the ill-effects of deflation on a social economy. This tendency to underestimate deflation’s deleterious impact matters beyond debates on Bitcoin per se.

http://yanisvaroufakis.eu/2014/02/15/bitcoin-a-flawed-currency-blueprint-with-a-potentially-useful-application-for-the-eurozone/

[BillyBobZorton]

Varoufakis is delusional. There's no way they are going to intimidate the Troika. Plus there is legit debt that they owe to them, not all is scam debt.

hi manselr!

maybe 'ru german?

 

German or not he is right tho.
Varoufakis either accepts the Troika's conditions for the plan or not. If they don't then they'll have to abandon Euro.

[Beliathon]

So, if it catches on as a proper currency, rather than as a store of value, then, by definition, the rate of increase in the quantity of goods and services purchased will outpace the rate of increase in the supply of Bitcoins. Thus, the available quantity of Bitcoins per each unit of output will be falling causing deflation. And why is this a problem? Because even if all prices fall at once, people’s debt will not and a chain reaction of insolvencies will hit us, causing the worst fate of any market economy: Debt Deflation. Think Great Depression here in the United States, or Greece today

The more the thieves and parasites hate on Bitcoin, the more we know it's the right solution.

QFT. For once, people will be laughing as they walk away from the banks. Bitcoin will undo every bailout, and leave the old centralized system to die. Personally I'm looking forward to it.

Bitcoiners be all, "I reject your debt based capitalism, and substitute my own."

[Q7]

It's a good idea if they can start off with Greece and if it becomes successful will soon becomes something which others countries can follow.

[brekyrself]

No short term good will come from Greece exiting the euro.  This process would severely hurt the people of Greece who would no longer afford many basic imports.

Bitcoin can save Greece, Europe, or any country who implements the block chain at the government level so citizens can track where all the wasted tax money flows.  Only then can politicians be held accountable for their actions.

[LiteCoinGuy]

greece has to leave. now or in the next years. take a look in the history books.

[justusranvier]

The responses of many to my post on Bitcoin reveal a powerful tendency to underestimate the ill-effects of deflation on a social economy.

Quite the contrary - everybody understands the effects of deflation on a social economy.

The "social" economy is the poison for which deflation is the cure.

[OROBTC]

...

The future, at least short-term, does not look good under any scenario for Greece.  Greece produces very few things that people in other countries want or need.  Adding value is the key to gaining wealth: if you do not produce something (or otherwise add value), no one else will pay you.

I do not see how Greece resolves this either by going further into debt (troika's solution) or by "Grexiting" and starting over with the Drachma.  Greece's problems are structural, and will take a long time to resolve even if they choose wise policies (which they may not).

A Bitcoin currency does not resolve Greece.

[picolo]

He is smart but he is very disliked by many of the people he is dealing with, maybe in purpose.

[GreekBitcoin]

Why are you guys keep posting about countries with problems adopting bitcoin? In the best case scenario that a country wanted to use a cryptocurrency why wouldnt they create their own coin instead of using Bitcoin?

[hdbuck]

In the best case scenario that a country wanted to use a cryptocurrency why wouldnt they create their own coin instead of using Bitcoin?

because network effect #security #decentralization #legitimacy

[CtrlAltBernanke420]

...

The future, at least short-term, does not look good under any scenario for Greece.  Greece produces very few things that people in other countries want or need.  Adding value is the key to gaining wealth: if you do not produce something (or otherwise add value), no one else will pay you.

I do not see how Greece resolves this either by going further into debt (troika's solution) or by "Grexiting" and starting over with the Drachma.  Greece's problems are structural, and will take a long time to resolve even if they choose wise policies (which they may not).

A Bitcoin currency does not resolve Greece.

http://www.amnesty.org/en/news/big-six-arms-exporters-2012-06-11

For what it is worth when you say Greece doesnt produce any goods the rest of the world wants…..

What about 'merica.

6. USA
The United States is by far the world’s largest arms trader, accounting for around 30 per cent of conventional arms transfers in terms of value. Its position on the ATT is therefore key.

Countries supplied
The USA supplies arms to more than 170 countries and has a mixed record of suspending arms supplies on human rights grounds. For example, it has restricted arms transfers to Myanmar, China, Sri Lanka and Zimbabwe in addition to countries subject to UN arms embargoes. However, it has supplied arms to other countries, for example Sri Lanka, Bahrain, Egypt and Yemen, where there is a substantial risk that they could be used to commit of facilitate serious human rights violations.

Irresponsible transfers
As the main arms supplier to Egypt, the US authorized the sale of small arms, millions of rounds of ammunition and chemical agents for riot control, despite the security forces’ violent crackdown on protesters. Yemen was also supplied with small arms, chemical agents and armoured vehicles, and Bahrain with small arms. It provides Colombia’s security forces with arms, military aid and training, despite their persistent violations of human rights.

Stance on the ATT
Since October 2009, when the Obama administration reversed previous opposition to an ATT, US support has been crucial in getting to the current negotiation stage. The US has said it wants the treaty to raise the international standard for export control of armaments as close as possible to that of the US. However, the US position is weaker on human rights protection in the treaty than many of its allies. For example, US officials have not wanted to include obligations on states to prohibit transfers of arms even where there is credible evidence of their potential use for serious violations of human rights. US officials have also argued against including ammunition under the scope of the treaty, claiming it is too sensitive and would pose technical problems of implementation. Overall, US officials would prefer a short loose document that spells out general principles to “take into account” rather than strong binding measures.

[GreekBitcoin]

In the best case scenario that a country wanted to use a cryptocurrency why wouldnt they create their own coin instead of using Bitcoin?

because network effect #security #decentralization #legitimacy

Are you implying that bitcoin is actually decentralized?

And i think that if a country creates a nice fork of bitcoin it would pretty fast acquire a big network.

[hdbuck]

In the best case scenario that a country wanted to use a cryptocurrency why wouldnt they create their own coin instead of using Bitcoin?

because network effect #security #decentralization #legitimacy

Are you implying that bitcoin is actually decentralized?

nah, but still it'll be more decentralized than any crappy gov token, whether digital or not.

edit: actually bitcoin's decentralization is

And i think that if a country creates a nice fork of bitcoin it would pretty fast acquire a big network.

who would mine the fork, ensuring blockchain security? goverments? XD

i think it aint happening. ever. bitcoin is just different. so political yet apolitical.

[GreekBitcoin]

In the best case scenario that a country wanted to use a cryptocurrency why wouldnt they create their own coin instead of using Bitcoin?

because network effect #security #decentralization #legitimacy

Are you implying that bitcoin is actually decentralized?

nah, but still it'll be more decentralized than any crappy gov token, whether digital or not.

And i think that if a country creates a nice fork of bitcoin it would pretty fast acquire a big network.

who would mine the fork, ensuring blockchain security? goverments? XD

i think it aint happening. ever. bitcoin is just different. so political yet apolitical.

Why would a fork of bitcoin adopted by a country would be less decentralized than bitcoin? And why do you call it crappy gov token? It would be just a fork of bitcoin and accepted everywhere and for everything in that country. As a matter of fact, given the number of people now knowing about cryptos, it would be 10 times more decentralized than bitcoin.

The reality is that a government has to control her economy. Because if she cant she risks being controlled by others. So no goverment would/should ever risk to use a decentralized currency. But if they did adopt a new fork of bitcoin it would be more decentralized and easily more adopted.