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June 29, 2015, 02:46:24 PM

Quoting myself from another thread:

-I was trying to buy something online (costing just 2-3$) with my greek visa, and the charge was getting rejected.
-Gas stations take only cash.
-Suppliers of stuff, take only cash as they are afraid of the consequences of accepting digital payments, and with that I include bank payments (they are afraid they will not be able to withdraw it, or their money could be bailed-in / converted to drachma etc etc).

There is in a sense a fungibility issue with the euro in Greece right now. Digital euros / bank euros "suck" as they are useless to transact. Cash euro is what counts for most people, even companies.

Times like these, you *realize*, not theoretically, but by living it, that you wouldn't trade your crypto for fiat and that crypto is immensely more useful (ie you can actually transact, when with digital cash / banks / cards etc you can't).

The sense of value increases in a way that is unexpected: I wouldn't trade a single BTC even if I was offered >1000 euro in the bank in these conditions. The euros in the bank are useless.




Just curious, if I were to fly down to Greece in this environment to capitalize on the market would it be better to bring Euros down to buy bitcoins for cash or would it be better to sell bitcoins for euros?


My advice if you wanted to sell BTC in Greece for cash now , would be take a few ex special forces bods with you, and some very very large bags, source some guns, and try not to piss off the local mafioso and thugs that would want to help relive you of your cash.

Remember on small islands there is only so far you can run, and news travels quick.

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