Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Adopting BTC as national currency would be suicide for Greece. Their problem is not that the Euro inflation is too high, but it is too low. Bitcoin is deflationary in the long term, so their debts would explode, when BTC price rises.
That would be contrary to the aforementioned Gresham's Law. I'd indulge you to read it here: https://en.wikipedia.org/wiki/Gresham%27s_law
The undervalued currency would (in this case) be the EUR. That means the debt in EUR will be lowered as the BTC would go up and finally eliminated when BTC reaches a high rate. Such an experiment is -of course- non applicable on a country under a sovereign coalition, so we can only assume here (both me and you) what we *think* it will happen.
You could also be right and me just typing nonsense here.
