European Union - you've been Bitcoined!
Greece has recently just told Christine Lagarde's IMF and the EU to f- off - it wants nothing to do with its debt restructuring and this has got all the EU parties walking in circles.
http://www.reuters.com/article/us-eurozone-greece-debt-relief-idUSKBN1880SA
A lot of Greeks are buying BTC, and in my opinion it's about time someone in Greece did, because most countries in the world are run for profit and a profit based economy run on DEBT is just like a "pyramid scheme".
I personally struggle to see the sense in a society where one can only prosper through the suffering of others and the more power/money you have the more suffering you can invariably do. Even socialist countries have had the same greed problems too, so it's not just capitalism that's at fault the problem is CENTRALIZED POWER.
Prepare for decentralization
Now Bitcoin at its very essence is decentralized and this could this be the answer at least for Greece - a start to a better world with no more debt/interest. The only problem I can see is that anonymity could be a double edge sword, and power over the Bitcoin economy could easily be attained by the already rich and powerful, but surely if a whole country adopts Bitcoin then it would become a lot harder i.e. at least it's more expensive to corrupt. A 51% attack on Bitcoin is highly unlikely.
Anyway, I just wondered if anyone else had thought whether this could actually be the start of the end of countries run by commercial law? (the UK, for example, has a legal system that based on admiralty law (the commercial law of the sea) and funnily enough it's often enforced unlawfully).
So what I'm really asking is - could a country like Greece successfully run an economy on BTC and would/could it work? Two fingers to Lagarde and her IMF cronies anyone?
Comments below.
China's banks talking about creating a crypto version of their entire currency, Japan and Australia officially recognizing Bitcoin as a currency and now Greece thinking about using Bitcoin itself as its currency?
#youwannaseebullmarkets?
Yes @tansleyfolk, I've heard these central banks are trying to seize the crypto high ground ... good luck with that! :)
All good points. I get the obvious benefits of getting rid of debt based currency, however it seems the nature of crypto may be delaying its acceptance. When will it be able to hold public confidence? Cyber security attacks continue to scare the layman and general population into fearing the digital world. So perhaps security is the answer. The only way to get rid of evil is to flood it with good. Knowlege is power....mainsteam uses... and this platform can facilitate that!
Hey my trekkie friend! Those pesky politician won't allow us to escape the debts they've rung up I'm sure! GRRRRRRR! Don't worry about the security issues. When blockchain replaces it all those problems will disappear almost entirely. Welcome to Steemit. Welcome to blockchain :) ..."Scotty out!"
I like your positivity! I'd like to see them bring their innovative ancient past into the digital age of the future ☆
Blockchain will devastate many old school of thinking. Be ready to beam aboard @plumtechno ... Oh! Were already aboard. Nice ;)
It's hard to tax. Socialist governments can't function without a high taxation base class.
I think that the first country to use Bitcoin as its base currency would soon become a pariah state. On the first day there would be buckets of evidence to show that it was developing WMDs and threatening its neighbors. On the second day a large armada would be based of its shores and no fly zone would be imposed over its skies. On the third day it would be vaporised.
Just another ordinary day in Bitcoined Greece then. Excellent news @sentient :)
Wait Wait Wait. I must be missing something here. Carl Ludwig just said not to support Bitcoin because it's not centrally held...and you are telling me to decentralize?
Huh...I'm going to have to ponder which one of you is for freedom.
Article
OK Boss, I'll leave you with that one.
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BTC??