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Seeking Alternatives? 1,000 Bitcoin ATMs Are Coming To Greece
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
I simply cannot stress enough how important Greece is to freedom, liberty and civilization across the globe. Greece is not a one-off, or merely a small nation in big trouble that holds little relevance for the rest of us. Greece is everything.
What is happening to Greece follows the exact same game plan of what will eventually happen to every other supposedly sovereign nation. First there is an explosion of debt. Then a crisis. Then a bailout. Then creditor imposed hardship is forced upon the average population, in conjunction with unlimited bailouts for the bankers and other oligarch criminals. Finally, when a public which mistakenly believes it is living in a democracy exercises its right to national sovereignty, the sad truth is exposed. They are not a people living under a free political system.
It is precisely because Greece has progressed further along than any other Western nation into this neo-feudal hellhole, that it presents an incredible opportunity for resistance, The Greeks, quite literally, must fight for their very lives. Having been pushed into a corner, they will be forced to experiment in myriad ways if they desire to escape the criminal oligarch vortex in one piece.
Last week, I explored how Greeks are already embracing various local alternative currencies in the post, Greeks Flock to Grassroots Alternative Currencies in Affront to Euro Debt Slavery. One of the more interesting observations from the original Wall Street Journal article was that:
Experts say TEM and other local currencies work best side-by-side with the euro, not as a replacement.
The above is of course true when it comes to local currencies. It’s not true when it comes to Bitcoin, which is why I am so intrigued by the plan to bring 1,000 Bitcoin ATMs to Greece.
From the CoinTelegraph:
Bitcoin service provider and exchange Cubits has partnered with Greek bitcoin exchange BTCGreece to install 1,000 bitcoin ATMs and help small and medium sized businesses move money.
“We are creating the ecosystem of bitcoin and blockchain solutions in the Greek market.” BTCGreece founder Thanos Marinos told CoinTelegraph. “That will include the rollout of 1,000 ATMs and solutions for the e-commerce and tourism industry. Partnering with best of breed companies in the bitcoin space will enable us to provide the Greeks with solutions that will ease the difficulties of the capital controls.”
The Greek government still restricts the weekly withdrawal limit for bank accounts and debit cards to US$464.76 per week. To help small and medium sized companies send payments abroad, the two companies plan to develop a cross border payment system, which will allow small businesses to send payments quickly, at low cost. Marinos:
“Btcgreece and Cubits are offering a solution to the small and medium sized businesses to keep their operations, pay their invoices outside of Greece, pay for datacenter and servers, without the limitations imposed by the banks under capital controls.”
Additionally, bitcoin adoption in Greece is growing rapidly, he added. Individuals and business are beginning to recognize the advantages of bitcoin and its decentralized nature.
“Bitcoin adoption is happening and in a very fast pace,” explained Marinos. “Bitcoin in Greece is not just hype but a solution to day to day problems of people and businesses under capital controls. Also a key factor is that the trust for the traditional banking system is long gone and people are open to bitcoin.”
Best of luck to the Greeks. They need and deserve our full and total support. Their fight is our fight.
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This'll make the Troika unhappy...good.....
Meanwhile Bernank is quite pissed that it's only 4.37 bittycoins per ounce of gold...
This bitcoin sceptic made some good points as to why you should allocate part of your portfolio to the crypto currency.
So many Bitcoin haters here. I suppose they expect businesses to mail gold coins to their vendors. Society CANNOT FUNCTION without some form of digital/non-physical medium of exchange.
Bitcoin is not ideal, but for the Greek people, it is far superior to Euros. The troika cannot impose daily limits, nor can they confiscate it. In addition, Bitcoin can be easily and safely moved in and out of the country.
For those who will surely down vote this common sense comment, I ask you to give a better alternative below. Seriously, how is applauding the people moving away from the corrupt banking system into more free and honest alternatives being down voted?
PLEASE!!!! My SuperMegaBlasterCoin is WAY(!!!) better than BitCoin. I developed the algorithm on my Android phone and will issue coins to "miners" who figure out coin numbers - as well as pay me $2500 per number.
There might be bitcoin haters on here but my SuperMegaBlasterCoin is LOVED!!!
(Gold and silver accepted as payment. Sorry, no bitcoin accepted.)
HO LEE PHUKING BITCOIN!!!!
OMG!!! SATOSHI IS WITH US!!
I would like to see it -- 1000 BTC ATMs in Greece. However, I doubt that it will happen, bet not even 100 go in anytime soon (I think there is only ONE in Greece now).
How about 1000 here in the USA?
As long as small amounts are being invested shifted or whatever is better than no business activity.
My fear is that goverments, if it becomes big or a tax evasion scheme, will regulate it, defeat it, oppose it, outlaw it, tax it and confiscate it.
This blog is like any other major financial blog. It's filled with pro-Fed plants, shills and sock puppets. We've even seen people on here openly advocating owning FRN and UST... fucking shill traitors. I'd have no problem tying these people up and executing them! They are scared of Bitcoin and it shows, the proof is in the pudding!
They are afraid because their schooling told them to be afraid. Fear is necessary for control. Govzilla dependson it.
Bitcoin is not ideal, but for the Greek people, it is far superior to Euros. The troika cannot impose daily limits (where do they get the cash?), nor can they confiscate it (they will try if you travel out of the country eventually). In addition, Bitcoin can be easily and safely moved in and out of the country (see last answer).
Yes, Bitcoin can help but the completely safe way is to own a physical object that is finite.
How can they confiscate it? You encrypt it on your laptop and it is impossible to find?
Face it, most geezers on ZH are just too dumb to understand Bitcoin... it will be funny in 20 yrs when they brag about how they were part of the "alternative" financial scene and some punk kid asks them how much BTC they have?
I was playing with algos before your father was even a twinkle in his fathers eye.
The stupidity of peeps like you relying on a totally hacked internet makes me laugh.
Mine will be the last laugh as well.The only one that matters.
Care to expand on "totally hacked" internet? And seeing as how RSA only came to the public domain in the 1990's I scencerely doubt your claim. Fonestar was a bagdhads before your dad's bag or something like that...
Doesn't matter when the NSA is inside the firmware and bios,
The hackers have already made hay using SW backdoors, they will find the hardare ones as
well. Which part of: there is no privacy on the internet, don't you undestand ?
Build new hardware and SW from scratch, create a seperate secure network/infrastructure, and then you may have omething.
Otherwise just leave your money in a Greek bank, its probably safer.
There are open BIOS projects and there will be more competition coming into the mfg of chips as well (read non-NSA compliant). And even if they can capture data on reserved/hidden parts of disk or mem, good luck pulling the plug on billions of PCs all at once. Game theory and they lose....
i respect many properties of bitcoin, but i dont see the fiscal justice of rich pricks being able to rent computer banks to mine new coins.
so, bottom line, bitcoin is superior to paper, but remains inferior to gold/silver standard
You can still get a decent Antminer for around the same amount you would spend getting a safe to house your gold and silver. Rich kids what?
Bitcoin is fiat without the paper or backing of the gov.
So you just said that Bitcoin is "fiat" but without order of government? You don't even know what the fuck you are talking about...
He knows exactly what he's talking about , he gets around using a map of the Flat Earth.
Teh we has been checking out those Flat Earth videos on YT and holy phook... talk about a major disinfo campaign! What are your thoughts on the XT coin? Saw some of your comments on CCN there. Personally, don't trust Hearn... he is ex-GOOG and has advocated colour coins before which would destroy BTC fungibility.
The XT team are following the roadmap Satoshi left behind to increase the blocksize. For some reason the qt / core team are ingoring it. Block size increase is going to be urgent quite soon. It's a good thing that somebody has stepped upto the table with the implementation anyhow , regardless of the core team , if the core team do not implement the code required for larger blocks then they will be left behind and XT will take over. That's the whole point of open source right ? I suspect XT is acting more as a wake up call to the core team. We will see some serious price volatility until this is resolved with larger blocks which are absolutely necessary for bitcoin to scale. 1MB limit is a joke at best.
So do you think the email supposedly from Satoshi scorning Andreson and Hearn is a load of BS then? Something about Hearn's attitude doesn't sit right with we, maybe too many conspiracy videos getting the best...
Yeah that's BS. Satoshi implemented a 1MB block size as a temporary measure to limit spam and graffiti on the blockchain. He provided very detailed information in 2010 on how that should be increased incremetally as required.
Winston , sorry to say it but you are far behind on your knowledge curve.
When he was talking about algos maybe he meant Hamming code or ROT13 lol?
.
Folks are working on it...
"it will be funny in 20 yrs when they brag about how they were part of the "alternative" financial scene and some punk kid asks them how much BTC they have?'
lol....how long until your crack buzz wears off?
using the word haters tells a lot about you.
When we heard that numbskull Bill Gates talking about how Bitcoin was not going to be the digital/mobile payment form that "makes it" we went out and bought some more BTC!
In just 5 short years all major national currencies have lost around 99% of their value priced in BTC. Are you going to be one of the tards who waits until 99.999999999%?
https://localbitcoins.com
^ This tard is more delusional than our government.
No you're an idiot.... tell me what percentage the "dollar" is at now priced in Bitcoin today vs. 2009?
We can see some people have a problem with OBJECTIVE REALITY or BASIC MATH?
And Bitcoin has lost how much over the last several years?
The last several years? It's five years old you fucking moron...
Please enter your PIN 'f' tap 'o' tap 'n' tap 'e' tap 's' tap 't' tap 'a' tap 'r' tap
Keep guessing! ;)
If Bitcoin actually begins to take off as an alternative currency in a country instead of the phreak, nerd, techie fringe, all it will do is accelerate the move by the world's MIC to go cashless worldwide to retain control and thus have the argument of either regulating out of existance or outright banning Bitcoin.
The MIC will not stand for competition.
There's nothing they can do to stop Bitcoin fools!
As they already did in New York. "I confirm that I am not a resident of Iran, Syria, North Korea or State of New York" https://i.imgur.com/lwx8TnO.jpg
Where's Fonestar riding that BTC rocket when you need him?
You beat me to the punch!
I miss pornstar, he was good at telling funnies.
Jailbird you turkeys.
ZH people remind me of the same type of morons saying personal computers were "a fad" in the 1980's.
They were a fad, until useful apps came along.
He's back under the user name Santini Air.
here, there and everywhere... fonestar is in your hair, in the air, in your soup and where you poop...
fonestar is with you. And also with you!
With BitCoin you are your own bank. Cut out the middlemen, your money is your money. You have it when you want it, where you want it.
Good grief, not sure how to even begin to disect that post.
You don't know where to begin because you know absolutely nothing about BitCoin. C'mon, admit it.
That is the problem. Nobody does. Not even you.
Intelligent people with a background in computer science do understand Bitcoin and were predicting its coming even back in the 1980's. Look at the wrtitings of Tim May, those short writings changed we life!
Bitcoin=Cashless Society. TPTB are happily implementing it. 5 weeks = gov. agent?
Bitcoin can be disrupted, but it has to be done at the physical network level and if they did that, it would be very obvious. The last thing the EU wants right now is to show their endgame too soon.....
I agree that BTC is becoming centralized. The future will probably have the block difficulty SO high that the only entity able to support the network are governments themselves. However, the idea of digital currency is a genie that is already out of the bottle. DGC, LTC, something will always come up that is a) large enough to be functional and b) outside of government control.
BTC is the future, but it will be centralized. Digital currency is also the future, and like the enlightenment, once the idea takes hold, it cannot be extinguished.
Centralizing it would be very hard to do if not impossible with the existing bit coin tech. Its built on being decetralized from the ground up. You could only replace it with something else and the centralized version of this is called a credit card / Money Gram.
It's only the future to the extent that it is not fiat. When it becomes fiat then it is Zimbabucks. If gov is the hacker then seek alternatives or freeze in the dark.
Well, the bio on your profile that you wrote yourself says enough.
I guarantee you, the people who are downvoting me don't know a thing about what BitCoin really is. May as well downvote the Internet.
One downvote for the internet, coming up!
LOL.
which Bitcoin are you referring to? There are at least two of them right now. Best strategy is to buy now, and double spend. Free money
http://www.bloomberg.com/news/articles/2015-08-18/bitcoin-is-having-an-i...
It doesn't matter as long as blocks are below 1MB. Even if the blockchain forks sometime in future, the longer chain always wins. The more computing power, the faster you can mine new blocks. As long as less than 50% of the miners run BitcoinXT, the Bitcoin blockchain always wins and the XT forks are orphaned.
Don't trust Hearn/Google with Bitcoin... he was the one pushing for colour coins (to verify legit transactions) thereby impacting the fungibility of BTC. Hearn and Google can fork and die for all we care.... buh bye!
Physical gold and silver are fungible, bitcoin not so much, or can you get paper shares of bitcoin?/sarc
Again... another clueless person who doesn't know what they're talking about. You could get the fungibility of gold/silver down to 8 decimal points of a gram... but then you're working with electron microscopes to even see it. With Bitcoin it is simple and cheap.
There is not two Bitcoins.... "Bitcoin XT" is just another altcoin.
Wrong. XT is another wallet - an altwallet. Like BitcoinJ and BTCD
"What bitcoin really is?"
It's the ultimate fiat. Backed by absolutely nothing.
....another guy clueless about what "fiat" means. Who is "ordering" you to use Bitcoin?
The ultimate faith in ones and zeros.
Mid-2015 check of ZH readers' state of Bitcoin knowledge: still clueless.
Yep, you have it as long as you don't want to convert it to any hard currency. Bitcoin, easy to buy, difficult to cash out.
Oh, and 3 weeks ago, it was almost US$300, but today it's only US$250.
One year ago, it was US$650, two years ago it was $1200
Wow, look at all the "benefits".
I am glad that I sold all my Bitcoins at $30 just before the crash in 2011 /sarc
But aren't you happy you didn't buy at $1200...
Way to cherry pick data.... the "dollar" has lost almost 100% of it's value against BTC in 5 years.
i hope it works out for them (check for squid under your bed)
Is this how the cashless society arrives?
Collapse the economy with debt, check!
Generate fear and panic, check!
Rollout the predetermined solution of Bitcoin, check!
Problem, reaction, solution.
And the Greek people will accept this solution?
I wouldn't be that arrogant.
Slavery is not a solution.
Yes. +100 ZIRP to bail out banks, check.
Create cashless currency to prevent private hoarding which defeats ZIRP theft, check.
Guinea Pigs eating feta cheese.
+1 DaveO... bitcoin is allowed to exist because it furthers a larger aggenda and/or is already a covert op. Cashless society is governments' wet dream. Works best when society asks for it as opposed to forcing it on them.
Governments don't like competition when it comes to currencies folks. They sort of frown on it... and last I saw the gov has something like a 98% to 99% conviction rate.
Except bitcoin source is open. Many options for the implementation. Why would they release the code if the goal is control?
So, can a check larger than the daily withdrawal be deposited? I mean, existing businesses must be able to carry on their operations? Many business transactions exceed the ATM limit.
I wonder if existing businesses are "gifting" many employees their daily limit (each), and asking them to withdraw for the company.
Which leads to another question: does the daily limit apply to the individual? Or to the account? (I.e., the above wouldn't work if it was the former, as the employees likely want to get their cash out for themselves, more so than doing that "for hire". And, the gift above would also have to be to a company-opened account for each employee, in order for the "to the account" part to make sense.)
"Is this how the cashless society arrives?" - Go zero knowledge providers such as Airbtz Bitcoin Wallet - no email, no identifiying info...you are your own bank! Bitcoin, money for adults!
I don't trust it.
You will trust Bitcoin.
What a joke
if they adopt bitcoin that could be great for the bitcoin community... but its going to speed up the timeline that they have to deal with this:
"The Bitcoin network is running out of capacity
The Bitcoin network processes transactions in units called "blocks," which are created about every 10 minutes. To prevent malicious parties from clogging up the system with spam, the original Bitcoin software limited the size of each block to one megabyte, which corresponds to a few thousand transactions. When Bitcoin was created in 2009, that left plenty of room for growth."
Technically incorrect. The maximum block size used to be larger than 1 megabyte, it was reduced to 1mb to mitigate a spam attack. That patch that reduced its size was never intended to be permanent. In theory the only things limiting ultimate block size are network capacity (which is always increasing), memory capacity (which is a cheap commodity now), and hard drive capacity (which is again always increasing). Since there seem to be no technical limitations on Network/Ram/Hard Drive space and we as a species seem to continue to increase them, there is no mathematical upper limit to block sizes.
WTF?? Can anyone there even afford to keep their lights on, let alone power a computer??
Power outages = bank holidays. So sorry!
If there is that kind of power outage, you're gonna have bigger things to worry about.
Almost all cellphones are computers. A small solar panel will suffice for power. If the cell network goes down, then it's game over. But if the cell network goes down, there will be a lot more to worry aboutthan money.
Don't do it Greece. Buy online. These machines are intrusive. x10 by TSA standards. Have a look
Bitcoin ATMs cash machines - YouTube
Bitcoin "farming" - YouTube
Woo ha! The Socialists are learning unadulterated Capitalism!
BITCOIN!!! The Greeks get fucked again!
I must honestly say, I thought I understood what a bitcoin is, but ATMs? I must have no idea.
ATM is a complete misnomer. They are Bitcoin Vending Machines. But "BVM" doesn't have the same ring to it.
I wonder if they will dispense cash or simply accept cash to buy bitcoins?
Both kinds of Bitcoin ATMs exist. I don't know what kind they plan to use. Hopefully it's the kind that does both directions.
You can buy precious metals with bitcoin here: https://eurgold.eu
Better to send gold and/or silver coins and ATMs than bitcoin. But if they want to try bitcoin for a while too, that's fine. But real money works better. For one thing, it works just fine when they shut down the internet or electricity grid.
Get silver, Greeks.
Get gold, Greeks.
Get free, Greeks.
The current market cap of all bitcoins is $3.5 to $4 billion. But the actual cash reserves are a tiny percentage of that capitalization (near zero).
A large percentage of bitcoins were issued/bought when values were less than a few dollars per bitcoin. And now they are supposedly "worth" $250+? There are NO reserves, a bitcoin has no inherent value. If a larger than normal number of people want to "cash out", the bitcoin system will instantly run out of cash, and the value of bitcoins will drop faster than a lead balloon.
Bitcoin is the ultimate ponzi scheme. To cash out some people redeeming bitcoin, they depend on other (suckers) people BUYING more bitcoin.
A few people criticize others for not knowing what Bitcoin "is". Well, when you get right down to it, it's actually NOTHING.
??? Why do you think there are cash reserves for bitcoin? Do you think there are cash reserves held by some organizations somewhere for gold, silver or for stocks? By your logic, "reserves" should magically and automatically increase if the price of bitcoin, gold or silver goes up. Or am I missing something?
What on earth are you talking about???
Gold is PHYSICAL, and is it's own reserve. Stocks have the company's assets and CASH FLOW behind them. Those are the "reserves".
Tell us, what exactly is "backing" bitcoin?
Gold is its own reserve? You can't eat it. You can't build shelter, and you can't make clothing from it. During the depression, gold went back to the farms. Cash flow only occurs when people exchange it for goods and services. Nothing backs anything. Profit is dependent upon overproduction.
Not that I'm trying to throw cold water on Bitcoin but according to Georgia guide stones, there is only gonna be 500mmm ppl on this rock. Why can't we just hand the gold/silver coins to whomever we are conducting biz.
bitcoin is just an extension of the internet. the internet is a battle ground that is becoming balkanzied because of the attempts of the western empire and the various oligarchies around the world who are trying to control it.
balkanization leads to fracturing. there is a reason that if and when major wars happen, bitcoin will be made illegal by all nation station military industrial compelxes. why? because they cannot control it.
that means bitcoin will NOT be easily bought and sold for any fiat currency, OR FOR GOLD for that matter.
then the question is ---how many people are willing to take and recieve bitcoin in return for a service or GOOD , and then hold the coins for savings until they are used again to purchase another good or service.
the real value of all currencies must ultimately be anchored to their exchange value for goods and services and not their foregign exchange value for speculation into another currency pair. otherwise all currencies wind up like the zimbabwe dollar, worthless.
the forex value of a currency is JUST an indicator of how useful the currency is generally for exchange for a good or sevice. however the price of GOLD in that currency is the ultimate proxy for its exchange value, because if you can actually buy the physical gold , the gold can always be exchanged for a good or service.
the fact that gold is dollar denominated and paper markets for gold exist, does not pre-empte the hypothetical exchangeabiliyt fo gold for a physical not of any nation. that exchange value is the proxy for a currencies general strength in exchange for goods and services generally over centuries.
Bitcoin is very easily BOUGHT, the exchanges happily take your hard currency and give you bitcoin. It's just difficult to sell/redeem large quantities of bitcoin for hard currency.
Nonsense. Liquidity is about the same in both directions. http://www.bitcoinity.org/markets/bitfinex/USD
The negatives on your comment are coming from the Fed.
Do you understand the meaning of the word "liquidity"? It generally means the ability to turn something into cash or to quickly convert an asset into another form.
The ONLY liquidity available to Bitcoin is the hard currency generated through sales of Bitcoins to other people. Awarding Bitcoins to miners reduces the liquidity of the entire Bitcoin system.
Bitcoin is a massive Ponzi scheme which depends entirely on people buying bitcoins so the exchanges have enough cash to pay the people redeeming/cashing bitcoins.
Bitcoin is a hot potato, it's great when you can quickly pass it on. But the last person holding it gets burned.
I do not believe that Greece's fundamental issue is that they can't find a currency that holds value. Greece's problem is that they can't run an economy that generates wealth.
Whether they pay the mob in Euro, Bitcoin, Drachma, or "Bread and Circuses," matters not one whit.
Greece either generates more wealth than it consumes or it dies. That's it.
Bitcoin: Control and plunder together as one like a Reese's Peanut Butter Cup of tyranny.
Zion is a scheme, not an ethnicity.
WE all will remain slaves as long as the PTB control the currencies.
An alternant currency that TPTB can not control is desperately needed.
"WE all will remain slaves as long as the PTB control the currencies. An alternant currency that TPTB can not control is desperately needed."
With respect, but if you mean Bitcoin, commonly know as "blockchains," you are sadly mistaken.
Read Melanie Swan's book, Blockchains, and do some further research. You will find that "decentralization" of Bitcoin/blockchains is a myth. At the rate the database, ledger, of transactions is growing, it will soon no longer be possible for the system to grow decentralized--It will REQUIRE that it be centralized.
I believe that is the true purpose of the NSA's (Big Brother's) Utah and/or Texas facilities--a home for Bitcoin, or other, blockchain fiat-currency's CENTRALIZED ledger.
Bitcoin is just another Zion and tyranny trap by which they can further plunder and control us, the people, and producers--It is the the fourth fence piece, the locked gate, being installed to finally close us in.
Zion is a scheme, not an ethnicity..
Is anyone ever going to comment on the fact that bitcoin came out of a NSA incubator?
Re-issue drachma backed by gold and silfer or just issue ur own silver and gold and bypass system, fuxk the bankers....and fucking hang them in the acropolis!
What could possibly be safer than an imaginary string of ones and zeroes out there on the interwebz? I'm all in!
Good article by ZH on the Greeks finally something ALL of us understand and can relate too,1) is if Greece fails Europe is fucked..2) America will be the final KO by the banking cartels.. Me I don't want to be bias because I am Greek-american and my Job is an independent Forex trader. so I am stuck between a hard-place and a rock.. Bitcoin don't know too much about it, so my opinion is just that.. it seems like a band-aid to a deep open wound.. Greeks have been historically fighting each other from the time men roam around the planet..The IMF threaten Varoufakis to resign because he was bringing the fight to the ZIONIST banksters.. Mr. Tsipras is a snake and a coward to do any good( FOR THE PEOPLE)
That leaves a generation in Greece to UNITE for one cause only and that is FREEDOM... Today in general PEOPLE FROM around the WORLD are much too STUPID.. Facebook, Kardashians other Celebrity brainwashing agendas being pandered on the masses.. because lets face it that is what they look up to..so what is left in Greece? Civil war.. not the kind of civil war that should be civilians vs government but unfortunately CIA/ MOSSAD operations to have the masses fighting each other.. Divide and conquer strategy.. JFK the best President this country ever had got assassinated by the BANKING CARTELS= Rothchilds + Rockefeller.. It's time the Greeks turn the tables and return the favor to these scumbags who run the world.. I heard GERALD CELENTE saying/screaming why so FEW people( ROTHCHILDS) control the billions of people on this planet?
Bitcoin is cash, it is world money, it is private money.
With an ATM you can buy or sell euros.
If two starving people show up at the bakery wanting a loaf of bread and one has a bitcoin and the other has a silver coin. Who will get the loaf of bread? I'm betting the baker will want the silver in his hand more than he wants something digital he can't see or feel. Bitcoin is only good if the future has no great collapse. In the last depression tangible goods became the system of trade.
wrg