Bitcoins and islands | Bitcointalksearch.org

sportis

sr. member

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Veni, Vidi, Vici

Quote from: European Central Bank on January 22, 2017, 06:52:56 PM

considering what the fees are like these days it would be an awfully expensive place to live.

I agree with your opinion that transaction fees make the everyday micro payments with bitcoin almost prohibitive. Maybe things in the future would be more better if lightning networks would be settled with very fast payments (milliseconds to seconds) and low cost where fees are proportional to amount someone would spent

Sithara007

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Leading Crypto Sports Betting & Casino Platform

Quote from: BuySomeBitcoins on January 21, 2017, 02:15:08 PM

I think that liberland https://liberland.org/en/main/ (not sure if it is a real country or not) use Bitcoin as its main currency.

The self-proclaimed president of Liberland, Vít Jedlička was recently deported by Croatia. Right now no one lives there, and the Croatian and Serbian authorities have forbidden entry in to this area.

pixie85

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Quote from: rchstr on January 22, 2017, 10:01:14 PM

it can be possible. bitcoin can always be make official by any locals where they just use it for buying and sellings goods. bitcoin is more accessible so it is not theoretically impossible if one island makes it as their official fiat, and bitcoin is not easy to buy. you can convert your fiat into bitcoin easily. so making bitcoin as a official currency is not impossible.

Yes, it is possible, but requires a lot of effort and support from community.

Would you be willing to pay in Bitcoin to live in that country? Would you have enough Bitcoin to do it? If not then maybe other people are thinking like you and the idea will remain just an idea.

rchstr

sr. member

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it can be possible. bitcoin can always be make official by any locals where they just use it for buying and sellings goods. bitcoin is more accessible so it is not theoretically impossible if one island makes it as their official fiat, and bitcoin is not easy to buy. you can convert your fiat into bitcoin easily. so making bitcoin as a official currency is not impossible.

darkangel11

legendary

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Don't let others control your BTC -> self custody

Quote from: European Central Bank on January 22, 2017, 06:52:56 PM

considering what the fees are like these days it would be an awfully expensive place to live.

You can do joint payments, like you do when paying for holidays abroad. The price of your plane ticket + hotel all inclusive is paid in a single transaction.
Anyway, when you are able to afford $500 for a flight to visit a remote island you shouldn't be worried about fees .

European Central Bank

legendary

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considering what the fees are like these days it would be an awfully expensive place to live.

BuySomeBitcoins

sr. member

Activity: 434

Merit: 253

Quote from: TheBobyHunter on January 22, 2017, 06:20:59 PM

several country bitcoin is ready regulation
sample in japan, in exchanger japan, every transaction use pair bitcoin/yen, charge tax fee

In case you do not know, regulation can be positive for the Bitcoin ecosystem.

TheBobyHunter

sr. member

Activity: 518

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several country bitcoin is ready regulation
sample in japan, in exchanger japan, every transaction use pair bitcoin/yen, charge tax fee

LTU_btc

legendary

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Slava Ukraini!

Theorical possible. If you a millionaire, you can buy small island somewhere in Canada or Pacific Ocean. But these islands still will belongs to country from which you purchased island, so you have to follow laws of this country. And these islands mainly doesn't fits for a living.

buwaytress

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There's an island in the inter webs, where people talk only about crypto and trade goods and services mainly in crypto (although there is a persistence of digital fiat or even the more horrific selling and buying of bitcoin using fiat).

It's called bitcointalk =).

Hydrogen

legendary

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There are small towns and communities that use their own alt coin as currency.

Aurora coin in iceland could be one example.

davis196

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Quote from: greeklogos on January 21, 2017, 01:15:22 PM

Is it possible at all to think in this direction (to have an island where the only legal currency is bitcoin), and if consider it real, how to measure progress made by accepting new 'system'? Undecided

What island?Some island without population or with 1000 people.
Bitcoin is a global currency,it`s pointless to make "countries" where btc is the only currency.
It`s not about territory,it`s about the number of people who will use bitcoin.

SparkedDev

hero member

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Dubai has been big on btc for a while now and they basically making islands everywhere.

BuySomeBitcoins

sr. member

Activity: 434

Merit: 253

I think that liberland https://liberland.org/en/main/ (not sure if it is a real country or not) use Bitcoin as its main currency.

greeklogos

full member

Activity: 658

Merit: 152

Is it possible at all to think in this direction (to have an island where the only legal currency is bitcoin), and if consider it real, how to measure progress made by accepting new 'system'? Undecided

Topic: Bitcoins and islands (Read 1062 times)