Poland's Love-Hate Relationship with Crypto

As few of you already know that I am living in Poland these days. I had heard about cryptocurrencies before but it was here that I bought my first bitcoin. Over the period of last few months I have come across some really interesting tid-bits about Poland's view of cryptocurrencies. 

In the last few years there has been a plethora of negative news from Poland for the crypto world. Mt. Gox had a bank account in Poland before they ceased trading and we all know that it didn't end well. I think even Bitfinex has bank account in a little know Polish city and from there originated the charges for the involvement of South American drug cartels trying to launder money using crytocurrencies.

Not surprisingly the Polish prime minister like many of his counterparts in the world has actively tried to deter the Poles from buying crypto. In fact he went on record to say that cryptocurrencies were a ponzi scheme (I guess it must have been an embarrassing moment for people who actually knew how cryptocurrencies work). Let's not even talk about how their finance ministry proposed the most ridiculous taxation scheme for cryptos.

Hell even National Polish Bank (NBP) paid you tubers between $21,000 to $27,000 to badmouth cryptocurrencies on youtube. Then on the other hand NBP went ahead and registered trademarks potentially related to the cryptocurrency market, such as PL coin, Poland coin, Pol coin, Pole coin and Pola coin. Do you see a pattern here? 

Okay enough talk about another government acting like a goon. Let's talk about Polish people. I like them most of the time, except when they pretend that they can't understand foreigners. As usual, the people most excited about cryptocurrencies here in Poland are the younger generation. At least that is what my personal experience is. 

Poles are quietly but steadily buying and trading in cryptocurrencies. The last time I checked Polish zloty was the 7th most traded national currency for Bitcoin. I am living in Warsaw and we have a couple of Bitcoin atms' in the city. Yesterday I went to a restaurant where they had a machine for payment in bitcoin.

People here in Warsaw have caught the crypto bug and they are talking about it like crazy. I see them drinking coffee and talking about making investments in crypto. I also see shady advertisements promising to make you a bitcoin millionaire within a year ;-). Of course when my friends tell me about such promises I have to shatter their dreams and bring them back to reality and still they don't lose enthusiasm.

Hell only yesterday I saw a Lambo just near the bitcoin ATM. Who knows, maybe it was bought using bitcoin money.