The Greek Bank Run is Real

Greek Euro CrisisSo, as it turns out, people are trying to get all of their money out of the banks in Greece. We suspected this might happen.

Everyone in the Bitcoin community is saying these people should convert to Bitcoin. Is that an option at this point? How can they get it if all they have is a currency that people increasingly do not want? There is a certain lack of fungibility in the Euro system; where it is obvious that a Euro was made for a certain country. This does not make it unusable in other countries, but if the whole country were to exit the Euro, then the Greek Euros might quickly become worthless anywhere. Thus, would people want to accept these particular Euros in exchange for Bitcoin they can’t get back? Seems a risky proposition.

So when people suggest that the Greeks should switch to Bitcoin, they have to consider the methods that the Greeks could use

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