Who's Buying Bitcoin in the middle Damage Greek Financial System?
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Many media reports, the recent surge in the price of Bitcoin is caused by the failure of the Greek financial system. Thought that the Greeks treat their Bitcoin as a last resort to escape from their weak economic infrastructure; that they are willing to invest in the sector of digital currency to keep their assets in order to remain strong until the current economic crisis is resolved.
Mostly a theory like this have arisen by chance. First: the value of Bitcoin has jumped by about 10% from last month, 3.5% for the past week; and 5% over the last 24 hours (at press time). On the other hand, the Greek Parliament has announced a referendum to be held next week - on July 5, 2015 - and has imposed capital controls in Greece.
Simple dots are connected. Greece, which had to take pains to keep their money in the government building, do not have anywhere else to go from these difficult times. They might be able to live with their money that can be withdrawn before the bank shutdown. Bitcoin, for decentralization and privacy features its enteric, seems to be their natural companion this time from some of their needs.
But whether they know Bitcoin?
However, research does not support the above claims mentioned above, especially when discussing the bigger picture. According Bitcoin Charts, sign purchase Bitcoin Euro only 6% of the total volume of transactions. On the other hand, the report shows that the volume surge LocalBitcoins.com recently come from Russia, India, Sweden and South Africa.
Further reports that Greece alone can not improve the Bitcoin economy, to the economic system which is very small when compared with the US, India, etc. There is no single deterministic equations can explain the direct relationship between the price of Bitcoin and Greek economy.
