Just wondering...



They are like 80% of current registrations

There is a chance (maybe 25%) that Greece leaves the Euro and reverts back to the Drachma. Currently Greek bank deposits are denominated in Euros. The Drachma probably is worth 30-50% of the Euro.

In other words overnight and very possibly without warning (I am dead serious) your bank account would go from 100,000 Euros to 100,000 Drachma and your equity would drop 50-70%, and there would not be a damn thing you could do about it. You would be effectively destroyed overnight.

So people are moving money out of Greek banks and into anything that will remain Euro or Dollar or Sterling or Krona etc denominated BEFORE this happens.

Keeping money in a Greek bank is a *perfect* negative freeroll -- either your account stays at EUR 100,000 or it drops a ton, but it ain't going up!

Even if this does not come to pass, because so many people are getting money out of Greek banks ahead of this possibility, the Greek government is considering freezing bank accounts to keep their banks from going under (this is called a capital control) in which case you cannot access your money freely, even if it remains Euro denominated.

Pokerstars is actually a perfect place to store money because you will not be converted to Drachma and you can get your money whenever you want.

I would imagine Greeks with existing internet poker accounts are wiring money furiously into these accounts from there banks, while they still can

Wouldn't you?

I don't know the thought of the value of my money dropping overnight kind of turns me on.

wow this place is a mine of useful information. thanks!

Place of false information yes.

Greece gets taxed daily by stars on what they have in their account. So when they have a winning day they sit tournaments instead of having the money in their cashier. There have been roughly 15048 threads on this topic too, so a quick search would have been more useful.

Heres just a few with a quick search for greece in thread titles:


http://forumserver.twoplustwo.com/29...op-me-1458817/

http://forumserver.twoplustwo.com/44...ction-1429671/

http://forumserver.twoplustwo.com/87...risis-1463734/

If thats always been the case than why the surge in Greek registrations?

Being arrogant and not knowing whats going on in the world at the same time is no way to go through life, twerp

It hasnt always been the case. Just since stars had to accept the greek regulation. End of 2013 i think. Since then every red lobby is full of greek people, hence the countless threads. But I'm glad you can handle being wrong so well.


http://www.pokerstars.gr/en/poker/room/support/pwt-faq/


http://forumserver.twoplustwo.com/29...ssion-1391620/

twice i been wow, that's pretty crazy amazed in this thread today.

thanks!

Wow Marc, it's not like your typical reply.
You ok?

And yeah you're arrogant twerp ))

There is nothing about what I wrote that is wrong.

Fact: There is a chance that Greece leaves the Euro. Some alot smarter than I think it is 80% plus. Personally as someone who studies it for a living I think it is 10-20%. Let's call it 25%. For you to 'lol' at 25% shows you either don't even know it could happen within weeks, or have your head buried in the sand.

Fact: in the last 4 weeks Greeks have been taking money out of their banks at an alarming rate. Just google it.

As to whether Greek poker players without foreign bank accounts into which they can quickly wire money are instead wiring into Pokerstars, well it would make sense. But I certainly have neither the time nor the inclination to confirm.

I was merely speculating as to why more Greek players are registering. If they are in fact not wiring more into PS or registering for events, no harm. If they are, then this may be the reason as opposed to some mystical coincidental cultural shift into poker playing.

Again, being ignorant is bad, bro, but being ignorant and smug at the same time is really bad.

Haha I thought Eli was doing an elaborate troll.

Daily taxes. Stupid idea, but as discussed if you win a bunch of money above the taxable threshold, register future tournaments then unregister them on days that you lose

(Bloomberg) -- The standoff between Greece and its
creditors on how to proceed on its bailout program risks
triggering a simultaneous cash and credit crunch, which could
drive the country out of the euro area....Commerzbank AG assigned a 25 percent probability to a Greek
euro exit on Feb. 12.

Rowniwn?

.

Why would you assume that stars would use a 1-1 parity EUR/DRACHMA if Greece exits the euro?? If Greece exits the euro, I don´t think stars will automatically convert your euros until there is a formal parity for the DRACHMA vs the USD or Euro which will be defined by demand and supply when the market is able to operate properly.

well id imagine if you were quick enough and used the 'convert all my funds to us $' there would be nothing they can do about it.

There is no drachma (yet)...if you wire euros to PS, your account remains in euros. When (if) you take money out you can get the money in euros or dollars or yen or krona or swiss francs...etc (thus preserving your wealth). If you choose drachmas (completely your choice) you will get the market rate which will most likely be 2 or more drachma for each euro...so again, you avoided the devaluation. If PS gave you back 1 drachma for each euro they would be stealing from you and taking the foreign exchange profit for themselves and committing fraud. It would be like going to the airport and getting 1 Rouble for each Dollar because the clerk 'felt' like ripping you off -- you could just say no I'll have my dollars back please.

Trust me, you are made whole if you wire to PS before the devaluation.

Or at least you should be 😃

You may well be right about the greek financial situation sounds like u know your stuff.

But thats not the reason all the players are regged in the tournaments its the daily tax which is what the OP asked.

You should probably take all this to the financial forums will get a better response there not a mtt forum which is meant to be about poker.

Lol

Dumbass

I was reading about poker hands and someone asked about Greece, so I answered, I was under the impression thats what forums are for....was I supposed to tell him to three-bet?

Greece is on the verge of yet another financial ruin since they outright requested a bailout from Germany and they refused to give Greece the loan and their new govt isn't doing anything besides . Now they're storing their money on Stars and FTP. I regged for the FTOPS and theres 3-5 Greeks down for each event.

Im not dumb just letting you know your wrong. There is a daily tax on winnings thats why the greek players are regged to load of mtts in the future. If it was as you say and they were uploading their money onto stars to protect against currency fluxuation there would be zero reason to register for future mtts would there? Could just let the money sit in their account.

No need to be rude about it you seem very agressive.

I am annoyed not 'aggressive' because I was trying to help, and to provide some unconventional answers, and instead:

was ridiculed by some knucklehead who said there is no Greek crisis that I was an idiot for saying so, which is as we know nonsense. There is a crisis (just pick up the paper) and people are getting money out of Greek banks en masse and PS is a perfect place to keep it. Does this mean they sign up to play? No, I agree it may not. HOWEVER if they are regulars anyway than with replenished accounts then why not. Unemployment is like 25% and 50% for youth so its not like they are too busy to log on. Also if they fear Greek government going after it they might as well gamble away anyway.

Then you suggested I post it on a financial forum as if I have a hard on to discuss this stuff ir I was looking for feedback or something and I had chosen the wrong place. Like you are so busy multi-tabling that you couldnt stand reading about it on 2+2.

I only ever wrote to help some dude out, and now I know better and you can live in your fantasy world that it could only be an old tax policy, and not the threat of a 75% devaluation.

I am done, have a nice day 😍