Topic: Bitcoin for Iceland - page 2. (Read 5125 times)
Iceland also has one of the highest rates of Internet penetration (percentage of the population having an Internet connection), possibly even the highest. So there would be no technical barrier.
I really did not have any idea about this. You really have something going here.
There is a problem of using some global currency as national and otherwise.
I think it's a good idea, Iceland has like 300k inhabitants, so building a national economy on top of Bitcoin should be feasible in the short term?
I'm also curious what will emerge to be the currency of choice if/when The Free State Initiative manages to establish it's proposed trade zone. Bitcoin could be very much applicable to that potential economy.
I'm also curious what will emerge to be the currency of choice if/when The Free State Initiative manages to establish it's proposed trade zone. Bitcoin could be very much applicable to that potential economy.
Maybe some speaker of the bitcoin community wants to propose iceland to introduce bitcoin as a new currency. iceland experienced a lot of inflation and price volatility in history and might be quite open to those ideas, remembering the problems they had in the financial crisis. iceland does not have too much "users" and i think they anyway do not rely on one single currency. iceland adopting bitcoin might lead to more stable exchange rates as well.
still there are some practical issues. i suggest, they give out paper money which is 100% backed by bitcoin.
in times where bitcoin is still too volatile, they could try to control the amount of bitcoins they use for backing up, to keep prices constant or moderately deflating.
what do you think?
still there are some practical issues. i suggest, they give out paper money which is 100% backed by bitcoin.
in times where bitcoin is still too volatile, they could try to control the amount of bitcoins they use for backing up, to keep prices constant or moderately deflating.
what do you think?
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