4 ms·

Your money is still in euros though, so if the whole currency gets devalued it does not matter which country holds it. There are capital controls preventing tr

Your money is still in euros though, so if the whole currency gets devalued it does not matter which country holds it. There are capital controls preventing transfers to Greece, that would prevent yiu from transferring from Germany to Portugal, so your solution would not work. And if they can take it from one bank they can take it from another.

icebraining 11y ago
Your money is still in euros though, so if the whole currency gets devalued it does not matter which country holds it. Sure, but then we aren't talking about the Greeks, but about all the Europeans. And escaping the devaluation of the Euro by jumping to BTC seems like a foolish move: http://www.cryptocoincharts.info/pair/btc/eur/kraken/1-year http://www.cryptocoincharts.info/pair/btc/eur/kraken/1-year There are capital controls preventing transfers to Greece, that would prevent yiu from transferring from Germany to Portugal, so your solution would not work. As far as I know, the controls limit the amount from Greece, not to Greece. Of course, withdrawing can still be a pain, but so is exchanging BTC for Euros. In my case, I'd just take a short trip to Spain and withdraw there, or if Spain is also under control, transfer some money to any of my friends abroad and ask them to send it to me in cash. And if they can take it from one bank they can take it from another. Who is "they"? The Greek government can't simply take from a German bank, even if the account holder is Greek.
- zanny 11y ago
  BTC price stabilized to an exchange rate of around 1 BTC to $250 USD after an insane bubble two years ago. Its variability is way down, its daily transaction volume is higher on average than ever. If you look at the longer run of BTCs valuation you see bubbles and the price gravitates back to reasonable appreciations for its market size. I'm still wondering if this whole Eurozone crisis will cause another bitcoin bubble, though. I have 10 BTC I'd like to see make me some free USD =P
- celticninja 11y ago
  Yes that was my point, it is too late for the Greeks but for other europeans facing the same issues there is still time. The hoops you propose to jump through to maintain a source of euros is as complex as using bitcoin, however it has more points of failure. Greeks are currently looking at a seizure of some assets over €8000 held in banks. Yes they may not be able to seize it From a German bank however the germans could seize it themselves. If the shit hits the fan throughout the euro area then your money and savings are at risk. In both these situations the bigger issue is the failure of euro and that is a potential risk.
pjc50 11y ago
I think if you get it into a German bank account before the crisis it would be safe.

icebraining 11y ago

Your money is still in euros though, so if the whole currency gets devalued it does not matter which country holds it. Sure, but then we aren't talking about the Greeks, but about all the Europeans. And escaping the devaluation of the Euro by jumping to BTC seems like a foolish move: http://www.cryptocoincharts.info/pair/btc/eur/kraken/1-year http://www.cryptocoincharts.info/pair/btc/eur/kraken/1-year There are capital controls preventing transfers to Greece, that would prevent yiu from transferring from Germany to Portugal, so your solution would not work. As far as I know, the controls limit the amount from Greece, not to Greece. Of course, withdrawing can still be a pain, but so is exchanging BTC for Euros. In my case, I'd just take a short trip to Spain and withdraw there, or if Spain is also under control, transfer some money to any of my friends abroad and ask them to send it to me in cash. And if they can take it from one bank they can take it from another. Who is "they"? The Greek government can't simply take from a German bank, even if the account holder is Greek.

zanny 11y ago
BTC price stabilized to an exchange rate of around 1 BTC to $250 USD after an insane bubble two years ago. Its variability is way down, its daily transaction volume is higher on average than ever. If you look at the longer run of BTCs valuation you see bubbles and the price gravitates back to reasonable appreciations for its market size. I'm still wondering if this whole Eurozone crisis will cause another bitcoin bubble, though. I have 10 BTC I'd like to see make me some free USD =P
celticninja 11y ago
Yes that was my point, it is too late for the Greeks but for other europeans facing the same issues there is still time. The hoops you propose to jump through to maintain a source of euros is as complex as using bitcoin, however it has more points of failure. Greeks are currently looking at a seizure of some assets over €8000 held in banks. Yes they may not be able to seize it From a German bank however the germans could seize it themselves. If the shit hits the fan throughout the euro area then your money and savings are at risk. In both these situations the bigger issue is the failure of euro and that is a potential risk.

pjc50 11y ago

I think if you get it into a German bank account before the crisis it would be safe.