Quote from: LiteCoinGuy on February 01, 2015, 09:46:17 AM

http://cointelegraph.com/news/113380/greeces-new-finance-minister-bitcoin-highly-problematic-currency

This is not surprising, considering Syriza is a socialist/communist party, i.e. collectivist. The printing press of a central bank is their best friend. He has a point about Bitcoin's whales, but that is a problem specific to Bitcoin, not a problem with crypto-currencies in general. As for the dreaded deflationary spiral, that is a Keynesian view, not a fact, and there are already topics on this forum that make strong cases against it's validity.* In addition, it's possible to make an inflationary crypto-currency, even a democratic one where people vote on inflation rates. So again, a problem specific to Bitcoin.

I was excited to see Syriza win, but mostly because Greece stirring the status quo has the most chance of initiating the end of the Euro, whether it is because of a Grexit or the EU caving in to the demands of Greece, which would be followed by similar demands from countries like Spain, Italy and Portugal. Even if the Northern EU countries would accept those demands, which would essentially amount to a transfer-Union, a lot more QE would be needed. The EMU would become a free-money zone. Since the Euro is not the world's reserve currency, it'll suffer more devaluation than the USD did so far with it's major QE programs.

Crypto-currencies won't see sudden mass adoption until the hyperinflation of the major fiat currencies starts. It won't be long now until the central bank's lose all their credibility, and the deflation will switch to (hyper)inflation.

* This is probably one of the best scientific papers debunking the myths of deflation: http://object.cato.org/sites/cato.org/files/serials/files/cato-journal/2008/11/cj28n3-1.pdf