Bitcoin ATMs in Athens Still Working

Although banks in Greece are currently closed and withdrawals are restricted in the EU, the only Bitcoin ATM in Athens is still working. This is because Bitcoin is decentralized, which means that Bitcoin users in Greece are not held hostage by such government regulations and laws.

There has been a lot of discussion about Bitcoin and Greece. Personally, I think the answer is definitely not a simple "yes" or "no". Bitcoin offers many positive contributions to countries that need it, but it also has some drawbacks.

I also think Greece should develop its own virtual currency, and partially back it with some assets. These "virtual currencies" could be used for various things (food, travel discounts, etc.). But these are my own thoughts.

Another solution is that people should focus more on buying Greek and traditional Greek products. Agriculture, fisheries and other industries are pretty safe bets, but you need some capital to invest. You can start with rounds of financing from a group of people. In this way, Greece will become less dependent on imports and more self-sufficient. If we focus on the fishery industry today, the share of domestic products has dropped from more than 35% in 1990 to only 2%.

“If the Greek people are willing to accept Bitcoin, they will get more breathing room. We make sure to check the big banks, not only EU banks, but also US banks,” Demetrius told Bitcoin User. “I also believe that Varoufakis is just another corrupt politician who will destroy more Greeks.

I think in the short term Greeks should convert some of their money into Bitcoin. I know they may not be able to convert a lot, but it is good to have it as a savings account, even if at the end of the month it may only be 1 Euro. The price of Bitcoin fluctuates a lot, so it is very likely that it will go from 1 Euro to 1.2 Euros much faster than if they kept their money in the bank.”