The Greek crisis may be the trigger of a substantial demand for NuBits

NuBits
#1

Take a look at these tweets, by a Greek individual, whose name is Androklis Polymenis, living most probably in Greece, versed in financial matters and cryptography, it seems.

link

“You need cash to survive, cryptos are volatile and not ubiquitous and gold has it’s known issues. We need Tether or Nubits adoption”

after saying that

link

“You cant buy here bread with btc at least not yet.But that may change!But volatility still an issue”

I could not agree more .

Besides, there is now a serious liquidity issue in Greece with only 500m EUR remaining in banks.
The factories are not damaged, the workers can work, the trade relationships are intact, yet because there is not enough “paper money”, people are not able to trade any more.

as he also pointed out here.

“Greeks don’t have a problem with store of value (depreciating currency), at least not yet. But a liquidity issue. Gold sucks +”

That is a logistics issue more than an economics one.
NuBits can help solve it.

I speculate that the Greek crisis would spread to the whole Euro zone by starting with Germany which holds a lot of its debt.
In order to protect one’s self, Germany has bought plenty of credit default swaps from Deutsch Bank.
Deutsch Bank would default if Greece cannot get yet another bail out.

Then, the Euro risks being devalued or European banks would be bailed-in (stealing deposits).
From there, it would spread to the US dollar and internationally.

In other words, I believe we are going to witness a huge loss of confidence in FIAT money (around the end of September this year, which corresponds to the end of 7-y cycle; yes economics as everything undergoes some some sort of esoteric law), which by itself would not be pleasurable to watch but would be an unique opportunity to improve the current system drastically by introducing NuBits in a real emergency situation.

Interestingly enough, Androklis was involved heavily with NXT as you can see below:

EDIT: info added; grammatical errors corrected

3 Likes
Would it be Possible for NuBits to Survive Without Pegging (if all major fiat currencies crashed)?
#2

Nubits lending with (unmoveable) bank deposit as collaterial might work in Greece.

#3

Ask them to do it with nubits http://spartanroute.com/

2 Likes
#4

Nice catch. I doubt greek exports would accept to be paid in btcs…
I d be willing to contact them and let them know about nbt…

#5

What do you mean by unmoveable?

#6

You still own your deposit, but it cannot be withdrawn or transferred freely. Someone could take it as collateral and give you nubits to spend.

#7

The Telegraph – Greece’s Yanis Varoufakis prepares for economic siege as companies issue private currencies

They could run their peershares.

2 Likes
#8

“Businesses in Thessaloniki and other parts of the country are already creating parallel private currencies to keep trade alive and alleviate an acute shortage of liquidity.”

What kind of currency are we talking about?

#9

Once BCex is released, and growing, what daily volume can we expect to have for Nubit?
Could it support an entire industry of a country of the size of Greece?

#10

GREECE IS NOT BUYING BITCOIN
https://www.cryptocoinsnews.com/greece-not-buying-bitcoin/

#11

https://www.btcgreece.com/
The first Bitcoin exchange in Greece. Sign up now to easily buy and sell Bitcoins.