Note from the CEO: WOW! Seems like just yesterday…………oh wait, it was that we shared an article saying people in Venezuela were starting to use bitcoin to offset currency devaluation and get money out. Quickly and easily. Now Greece. The Greeks now join a whole list of people around the globe who are using bitcoin to hedge against what central banks have created. Go bitcoin.
“Tax authorities in Greece have seized half a million bank accounts, containing 1.6 billion Euros, in the first half of 2016.
In the first four months of the year alone, authorities seized 428,465 accounts, and the numbers included in May push that figure well over the half-million mark. This contrasts with last year, where 333,776 accounts were seized all year.
Seizures of Greek accounts by tax authorities continue to rise by leaps and bounds year after year. In 2014, seizures averaged about 7,000 per month, while in 2016 they currently average over 100,000, more than a tenfold total increase…….
Bitcoin solves a great deal of the restrictions of tax havens while providing some similar benefits, including a store of wealth not subject to government seizure, and not necessarily tied to any real-world identity. While Bitcoin’s Blockchain is completely public and therefore subject to a certain degree of traceability (albeit with difficulty), competing currencies, which may offer more robust privacy features, are mainly available through first acquiring Bitcoin.”