Post
Topic
Board Speculation
Re: 2 years ago Cyprus, now Greece? new bubble on the way?
by
Eastwind
on 11/07/2015, 09:52:32 UTC
Somewhere I heard that, cyprus was a wealth heaven, during the crisis the wealth was exported using bitcoin. I don't know if would be the same scenario with greece.  

That is true. A lot of Russians had deposits in Cyprus and when capital controls / deposit cuts were imminent, converting fiat into Bitcoin was a workaround. In Greece, deposits belong to common citizens and the government won't be comfortable imposing haircuts.

How do they convert the fiat into bitcoin, in exchanes? There was capital control then. I do not think they can take money out of Cyprus.