
“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:
Obama met with tech executives privately to discuss government surveillance
Lawmakers Set To Debate 'Policing For Profit' Reforms
Fine, probation, community service sought for former county executive
State Department Demands Takedown Of 3D-Printable Gun Files For Export Control Violations
Greek teen’s death after argument with bus ticket inspector sparks anti-austerity protests
With its leaders facing trial, Kenya quits International Criminal Court
New Zealand Government Announces That Software Will No Longer Be Patentable
Treasury Surpasses Debt Limit on First Day of Ceiling’s Suspension
New Yorkers Trying to Flee Find Moving Isn’t So Easy
NSA has long role as top US locksmith, lock-picker
Mongolia at a crossroad as boom brings challenges
Why Apple Has to Borrow $17 Billion
Interview with British ‘straight pride’ group removed by copyright takedown notice
Evaluating Drug Decriminalization in Portugal 12 Years Later
Police captain, chief, firefighter all sexually assault same teenage girl