The Greek Dilemma: Hyper Inflation, Austerity, or Bitcoin?
The never ending tragedy known as the Eurozone is flirting with disaster and the unknown consequences of what would happen if Greece is ejected by brute force or leaves by sheer will from the EU. Interestingly enough, the first Bitcoin ATM has arrived in Athens just in time. The clear lesson being learned is the recipe of political and social integration before economic integration makes a terrible meal. A lot of noise and overcomplicated explanations have been put forth as to what will happen. In reality, there are four options left as to how this can play out: “Hours after the call for a....
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With the day of Greckoning looming, xbt.social takes a look at what is at stake in the Greek referendum, its expected outcomes, and the implications for the Euro and for Bitcoin. Greek Debt Crisis Timeline. The Greek Debt Crisis began in December 2009 when several rating agencies including Fitch, Moody's and Standard & Poor downgraded Greece for fear of government defaulting on ballooning debt. Government responded by introducing austerity packages to curb spending on public services. In April 2010 Greece formally requested an international bailout under Prime Minister George Papandreou,....
HYPER, a Scrypt coin with a Space MMO. You can read up on a full features list of the coin here, as I did an interview the developer already. But today we are focusing on the new Counter Strike tournament they launched, where you can earn prizes in HYPER! The HYPER Monthly Counter-Strike Blitz is a way for anyone to play Counter-Strike on the HYPER Counter-Strike and HYPER Counter-Strike Global Offensive servers and compete to win a HYPER prize at the end of each month. Currently players earn cryptocurrency HYPER and points for fragging other players on the servers, and this monthly blitz....
With the Greek debt crisis still far from over, Prime Minister Alex Tsipras is now considering alternatives to shifting back to a potentially worthless drachma. Bitcoin has been on the rise, thanks to capital controls imposed in the country, leading the Greek leader to consider digital currency solutions. The Greek referendum has resulted in an overwhelming vote against additional austerity, which means that the country could forego the much-needed bailout and be forced out of the euro zone. However, it might be thrown deeper into depression and skyrocketing unemployment in that case.....
Thanks to its failure to meet its debt obligations, Greece is now slapped with capital controls and no other options to move cash around apart from bitcoin. Several sites are offering bitcoin loans and investments, as banks and the stock market are closed in Greece. With this disruption in normal economic activities, Spartan Route is offering bitcoin in exchange for buying Greek exports. The site mentions that a potential exit from the euro zone could leave the country unable to sell a bulk of its products, as trade relations guarantee that most shipments are sent to other member nations.....
The IMF has been left standing with its finger in it's mouth after Greek Prime Minister Alexis Tsipras unexpectedly called a Greek referendum on whether to accept further austerity and encouraged the Greek people to vote "No". The prospect slams the possibility of a Grexit firmly on the negotiation table and Monday may see the unexpected turn painted red in market charts. Greek Prime Minister Alexis Tsipras has called a referendum on whether Greece should accept demands by the country's creditors the IMF, ECB and European Commission. The decision comes on the heels of failed talks with the....