Bitcoin surges, it is a way of evading capital controls

Bitcoin surged by as much as 7 percent on Tuesday and was on track for its longest winning streak in 18 months, as concerns that Greece could tumble out of the euro drove speculators and Greek depositors into the decentralised digital currency.

I am fine with this, I should add.  But no, I don’t think it represents the onset of a new monetary order.  In case you doubt what is going on here:

Scigala said over the past two months, with Greece locked in talks with its creditors, the company had seen a 124 percent pick-up in inflows from Greek IP addresses—numerical labels that identify computers and other internet-enabled devices.

For the pointer I thank Jerry Brito.  Here is my earlier post on Bitcoin, China, and capital controls.


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