Greek Cash Crisis Fuels Bitcoin Activity: Bitcoin Demand Jumps 500%
Greece has not been a leading edge market for bitcoin, but the country's current cash crisis could be making it one. Many Greeks view the cash crisis as a boost for bitcoin, according to a Bloomberg Business report. Thanos Marinos, who prides himself on being the first to bring bitcoin to Greece a year ago, says bitcoin demand has jumped by 500 percent in four weeks. In a video interview, Marinos notes that when he began the bitcoin exchange btcgreece.com, there were five to 10 clients per day. Now there are 15 to 200 clients making deposits. "I didn't see it as much as a business case....
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Bitcoin has enjoyed a pivotal moment, thanks to the ongoing Greek debt crisis, which resulted in capital controls and an influx of funds towards the cryptocurrency. Indeed bitcoin prices have eventually landed back above the $300 mark, following a long period of consolidation around $220 earlier in the year. The prospect of shifting back to a potentially worthless drachma has led several Greeks to move their money to bitcoin, as some websites have offered bitcoin loans and investments while others offered to purchase Greek products using the cryptocurrency. This could allow Greek citizens....
Tomorrow's Italian Constitutional Referendum may turn out to be a good thing for Bitcoin, irrespective of the outcome. The economic condition of European Union nations hasn’t been that great so far. Be it the Greek financial meltdown, Spain’s tryst with the economic crisis or the latest Italian banking crisis. As Eurozone jumps from one crisis to another, the latest one lurking around the corner is the Italian Constitutional Referendum. The referendum to make constitutional reforms is a significant development in the European Union after Brexit. The Italian Constitutional Referendum, set....
2 April 2016 – Wikileaks has published the transcripts of an IMF teleconference detailing a conversation between two top IMF officials. The transcript details plans to manipulate Greece into accepting “Draconian Measures,” in the words of Greek Finance Minister Euclid Tsakalotos, by manufacturing a financial crisis that affects the nation, and the rest of the European Union through the ECB. Aside from the validations of the core concerns of Cryptocurrency adopters, the leak may be shaping up to be the biggest financial scandal of the year. The transcript reads like a chapter out of the....
As the Greek Parliament readies to vote on a third bailout agreement today - which would inevitably seal the country's fate within the eurozone - there's still a steady stream of media reports suggesting bitcoin could prove useful to Greek citizens. Although it's difficult to quantify whether the economic crisis has driven Greeks to purchase the digital currency, perhaps the more important question to ask is this: Have recent events even increased awareness of bitcoin in Greece? One man's wish. Nikos Houtas owns Tavern Agelos - a traditional Greek restaurant opened by his father 20 years....
If you’re following the headlines, then it’s not tricky to see that even European leaders think Europe is on the brink of collapse! Greece will receive the short-term debt relief from the Eurozone creditors it desperately need to stay afloat after a meeting of 19 European finance ministers in Brussels on Monday. But, how far will the relief stretch? The ministers offered to help the cash-poor Greek government, though not each European nation, nor the IMF, was on board. Greece’s repayments, nevertheless, will be restructured to take place over a longer period of time and an interest rate....