
“Joaquin Fenoy was wandering the streets of Athens Friday, doing his bit to ease Greece’s currency restrictions. He wasn’t handing out cash, but rather installing an ATM with a withdrawal limit of €1,000 (about $1,100). That’s €940 above the €60 daily ATM withdrawal limit the Greek government put in place to stop a bank run as its creditors decide the country’s financial fate. There is one catch, though: You need to have the virtual currency bitcoin to use it. In Greece’s case, worried relatives in London could buy bitcoins and transfer them to the digital wallet of a family member in Athens, who could then withdraw the bitcoins as euros from Bitchain’s ATM.”
http://fortune.com/2015/07/10/greece-bitcoin-bitchain/
Related posts:
Romney praises Israel’s health care system with individual mandate
Will bourbon help Kentucky swallow Obamacare?
Bitcoin's $13.50 To $1,200 Eleven Month Climb---Now Taxes
The History of Hyperinflation
US, Israel to hold major missile defense exercise
Majority of Dutch also want referendum on EU membership
U.S. pension backstop faces $76.4B deficit; sharp premium hikes stir opposition
NJ Assemblyman, Former Mayor Accosted By Cop Previously Fired For Lying
Several Swiss banks pull out of US tax settlement programme
Bank of England Governor on Bitcoin: It needs 'accountability'
Parents patrol immigrant suburbs to deter Stockholm youth from rioting
Nevada Recluse Found Dead With $7 Million In Gold Bars, Coins In Garage
German credit unions stand by Iran despite 'strongest sanctions in history'
Obama rejects calls for independent probe of IRS scandal
U.S. prosecutors subpoena high-profile Bitcoin startup Circle