Reasons Why Greece Should Not Move to Bitcoin

In some previous discussion regarding the Greek who stopped using the euro currency, many argue that Greece should move from Euro to Bitcoin. When viewed at a glance, Bitcoin is emerging as the best solution. But if the problem lies with the Euro, the Greek action moves to Bitcoin is like a suicide.

The main problem with the euro is that Greece can not print more Euros to suit his own. Only the European Central Bank was the one who could do it, but at least there are still those who can reproduce the currency. In theory, Greece can persuade the European Central Bank to print more Euros for them. On the other hand, if Greece moves to Bitcoin, then the They will not have the ability to control how much money they print, and in contrast to the Euro, there is no any party who could be persuaded by Greece to reproduce Bitcoin supply in the world. Any institution, including the European Central Bank, America or even the US Navy would not be able to reproduce Bitcoin.
Bitcoin is located on the main characteristics of the supply that have been defined and can not be changed from the beginning of the system was created. When this article was written, there Bitcoin 13.8821 million circulating in the world, and on January 1, 2025, will be available 20.34375 million Bitcoin. In total, Bitcoin will not print more than 21 million BTC by the system.

There are about 10 million people who currently have Bitcoin. If the digital currency is a success, we can expect that there will be one or two billion people who have Bitcoin in the past 20 years into the future. The only way for 1-2 billion people to take part in has 21 million Bitcoin there is the increase in the price per chip Bitcoin
significantly. An economist would call Bitcoin as a 'deflationary currency' (the affected currency deflation).

Yanis Varoufakis, Greek Finance Minister, agreed that because Bitcoin is deflationary (deflation), then Bitcoin would be a bad solution for the country. But she continued to say that Bitcoin is flawed because the currency is deflationary. The statement is not true. Bitcoin is not a currency that is created for the government, but a global currency that is created for the community. People in general would prefer a currency whose value is higher over time (which is called the 'deflationary currency' like Bitcoin) than the longer the currency value is diminishing (like currency most affected by inflation or 'inflationary currency' ).

It is a bad idea for Greece (or any other country in the world) to abandon its currency and adopt Bitcoin. It is like adopting gold as the national currency and leave the existing monetary policy. Monetary policy is a step in the right to organize public finance and improve the welfare of the community, as long as the policy adhered to and carried out properly and responsibly. Unfortunately, monetary policy is also often misused by governments who choose to print currency in amounts too much. This is what causes inflation and financial smash the poor people who live in these countries. These people have no choice but to maintain the currency of their country despite its value continues to decrease.

Bitcoin provide another alternative to all the people in the world. Anyone who has a smartphone can use Bitcoin to escape from their country's currency devalues. By using Bitcoin, people like to send a message to their governments: "Let's use our own currency but let's use it wisely, because now we've got their own choice."

If Bitcoin successful, Bitcoin will not replace the currency of any country, including Greece. Bitcoin has been prepared to become a global currency is not for a state, and as a digital currency of the internet created by the people and for the people.