Greeks are rushing to Bitcoin

[Suzanimal]

With bank doors slammed shut, frantic Greeks are turning to online trading platforms to see if the digital money Bitcoin is a better bet than the euro.

The world's largest Bitcoin exchanges tell CNNMoney they've seen a surge of business from Greece.

Ten times as many Greeks are registering to trade bitcoins on the German marketplace Bitcoin.de than usual, according to CEO Oliver Flaskaemper. Bitcoin trades from Greece have shot up 79% from their ten-week average on Bitstamp, the world's third-largest exchange.

Even trading platforms in China are getting interest. LakeBTC, headquartered in Shanghai, is seeing a 40% increase in visitors using computers in Greece.

Over the weekend, the Polish exchange Bitcurex got flooded with emails from Greeks. Among their questions:
"Is Bitcoin a legal currency in EU?"
"Can I use Bitcurex as a bank account?"
"Do you have a Bitcoin ATM network in Greece?"

Bitcurex then started marketing directly to Greeks on its website: "Sign up at Bitcurex and trade for 3 months for free. No Fees for Greece!"

...

http://money.cnn.com/2015/06/29/tech...reece-bitcoin/

[William Tell]

Bitcoin is Greek to them?

[Dianne]

I don't get it. How can they buy bitcoin, when they have no money?

[muh_roads]

I don't get it. How can they buy bitcoin, when they have no money?

The people that stayed in their banks are retards. People need to learn to take control of their own money. Sorry if this sounds callous but natural selection all the way baby! as far as Greece goes. I view this as a purge.

The shut down happened just today with months of preparation. It's impossible to hold everyone's hand all the time. People that want centrally planned organizations to take care of them deserve to fade away.

Having said that I personally give Greeks FAR more credit than what the MSM is saying. Greeks aren't stupid. I bet a good portion of them got their money out well before today. These are the smart producers and workers. The ones worth keeping around. I'd imagine even a fraction of 1% of Greece is enough liquidity to move btc.

The rumor is that LocalBitcoins is on fire right now.

[FSP-Rebel]

I don't get it. How can they buy bitcoin, when they have no money?

They are allowed to withdraw 60 euros a day and this maybe what they're potentially buying bitcoin with. However, the aura going on is outsiders seeking outside assets because this is going on a la Cypress.

[DevilsAdvocate]

The people that stayed in their banks are retards. People need to learn to take control of their own money. Sorry if this sounds callous but natural selection all the way baby! as far as Greece goes. I view this as a purge.

The shut down happened just today with months of preparation. It's impossible to hold everyone's hand all the time. People that want centrally planned organizations to take care of them deserve to fade away.

Having said that I personally give Greeks FAR more credit than what the MSM is saying. Greeks aren't stupid. I bet a good portion of them got their money out well before today. These are the smart producers and workers. The ones worth keeping around. I'd imagine even a fraction of 1% of Greece is enough liquidity to move btc.

The rumor is that LocalBitcoins is on fire right now.

The Greeks, just like the citizens of every other "modern" country, are being fed a steady diet of propaganda designed to herd them around like sheep. I'll bet many of them have a FAR different view of their situation than an outsider looking in.

[kpitcher]

I checked coinbase and it was down for a bit. Awhile later I logged in and picked up one more btc.. over a week to deliver the BTC? Seems longer than I recall the last time I bought through them.

[Warrior_of_Freedom]

Get your commemorative gold-plated grexit coin for $34.99 + s&h :P

[KCIndy]

I checked coinbase and it was down for a bit. Awhile later I logged in and picked up one more btc.. over a week to deliver the BTC? Seems longer than I recall the last time I bought through them.

A week? Wow. Every time I've used CoinBase, the transaction has been almost instant. On the other hand, I'm usually buying less than one Bitcoin per transaction, so maybe it's the amount ordered?

[muh_roads]

I checked coinbase and it was down for a bit. Awhile later I logged in and picked up one more btc.. over a week to deliver the BTC? Seems longer than I recall the last time I bought through them.

Did you tie a CC to it? You should be able to get $1K worth instantly without wait.

[kpitcher]

Did you tie a CC to it? You should be able to get $1K worth instantly without wait.

I hadn't tied a CC. Previously the longest wait I had was 4 days so the week was surprising enough to mention.

[muh_roads]

I hadn't tied a CC. Previously the longest wait I had was 4 days so the week was surprising enough to mention.

To clarify, it doesn't pull from your credit card. They can't do what Circle can do for whatever reason. It still pulls from your preferred bank of choice. The CC is just backup if they give u $1K instant and the funds aren't there to pull in your bank.