Topic: Could Scotland’s currency be bitcoin? (Read 1683 times)
The result is out, Scotland is staying in the UK. Even if they claim independence, bitcoin as a national currency is a long shot.
Akins of William Wallace said no.
44% actually have said yes, maybe they should give 44% of the country to those people who dont want to be part of Britain.
Unfortunately 44% is not enough. Even if the result would have been different, they will not take the bitcoin.
Akins of William Wallace said no.
44% actually have said yes, maybe they should give 44% of the country to those people who dont want to be part of Britain.
Akins of William Wallace said no.
yea, there's no point if Scotland separate from U. K.
so they will still use poundsterling instead of this speculation
bad english? correct me please
so they will still use poundsterling instead of this speculation
bad english? correct me please
It is almost certain that Scotland will stay in the UK. So, this speculation is pointless 
They will almost certainly go with the euro or create their own currency. There are so many prohibitive reasons not to.
Only fantasies & nothing else.In many under developing countries bitcoin is being considered illegal there is no point one countries currency be completely illegal to others.
I don't think so ,btc will not be the Scotland’s currency!
Governments actually like to try to keep inflation as low as possible. If a country has too high of inflation then the standard of living of it's citizens would decline and if it were to stay like that for long enough the citizens would leave and try to go somewhere with better economic opportunities.
I do not disagree. However most governments run on a cycle of debt, issuing bonds and repaying those loans through taxes. Bond yields are paid in the same fiat they are bought with. If inflation goes up, the real value of those yields and therefore those payments decreases. So inflation allows a government to decrease the burden of their payments.I'm suggesting there's a conflict of interest, not a conspiracy. I understand that governments do not regularly cause rapid inflation in order to pay off debts, but some have. Germany after WWI is a prime example.
As I said above if inflation is too high then people will emigrate to places where inflation is lower and economic opportunities are more. If people are leaving a country because of high inflation then the country will have lower tax revenue which means they will have to use more resources as a percentage of total tax revenue to repay their debt
Governments actually like to try to keep inflation as low as possible. If a country has too high of inflation then the standard of living of it's citizens would decline and if it were to stay like that for long enough the citizens would leave and try to go somewhere with better economic opportunities.
I do not disagree. However most governments run on a cycle of debt, issuing bonds and repaying those loans through taxes. Bond yields are paid in the same fiat they are bought with. If inflation goes up, the real value of those yields and therefore those payments decreases. So inflation allows a government to decrease the burden of their payments.I'm suggesting there's a conflict of interest, not a conspiracy. I understand that governments do not regularly cause rapid inflation in order to pay off debts, but some have. Germany after WWI is a prime example.
No it would not be possible. The economy of scottland is in the trillions of dollars, while the market cap of bitcoin is under 10 billion dollars. This is simply not feasible.
Also if scottland were to use bitcoin as a currency then the price of bitcoin would go up so quickly that there would be too great of incentives to attack the network verses the costs to attack the network that bitcoin would be destined to fail.
I love this argument.Also if scottland were to use bitcoin as a currency then the price of bitcoin would go up so quickly that there would be too great of incentives to attack the network verses the costs to attack the network that bitcoin would be destined to fail.
Additionally why would Scotland's government accept Bitcoin when they have free reign to keep printing fiat and inflate the money supply to pay off their debts? Governments do not give up power. Bitcoin is the people's currency.
No, there is zero chance of that happening.
A lot of those voting NO are women and elderly. These are the two groups that Bitcoin will find it hardest to reach. Don't expect inroads anytime soon either.
LOL. They won't even conduct a crypto-verifiable election (shots of hand counts in the media), and we think their currency will be BTC? They're in the fucking stone ages still. Might as well have coins of Yap for currency under the new regime, if the bribed election officials end up declaring Scotland independent.
absolutely not
not everyone has access and knowledge to a digital payment method
besides, they want to keep with pounds which is a strong currency
not everyone has access and knowledge to a digital payment method
besides, they want to keep with pounds which is a strong currency
No, an electronic currency doesn't meet the needs of the global population. Far from it.
I don't like credit cards, and I like BTC but I wouldn't want to use it in my daily life, to pay for a newspaper, or a restaurant. Cash remains the best option for that.
Besides, BTC is still too shaky for such widespread use.
I don't like credit cards, and I like BTC but I wouldn't want to use it in my daily life, to pay for a newspaper, or a restaurant. Cash remains the best option for that.
Besides, BTC is still too shaky for such widespread use.
No it would not be possible. The economy of scottland is in the trillions of dollars, while the market cap of bitcoin is under 10 billion dollars. This is simply not feasible.
Also if scottland were to use bitcoin as a currency then the price of bitcoin would go up so quickly that there would be too great of incentives to attack the network verses the costs to attack the network that bitcoin would be destined to fail.
The GDP of Scotland is just under a $250 billion. Still a large number in terms of BTC capitalization. But a bigger problem in my mind is what do the rural areas with no internet (and often no mobile service either) do for currency in a country with no physical coin? And are all businesses regardless of size and model going to be required to have internet and equipment to be in business? Will citizens be required to have smartphones to buy groceries and a computer to pay the heating bill? Also if scottland were to use bitcoin as a currency then the price of bitcoin would go up so quickly that there would be too great of incentives to attack the network verses the costs to attack the network that bitcoin would be destined to fail.
No it would not be possible. The economy of scottland is in the trillions of dollars, while the market cap of bitcoin is under 10 billion dollars. This is simply not feasible.
Also if scottland were to use bitcoin as a currency then the price of bitcoin would go up so quickly that there would be too great of incentives to attack the network verses the costs to attack the network that bitcoin would be destined to fail.
I love this argument.Also if scottland were to use bitcoin as a currency then the price of bitcoin would go up so quickly that there would be too great of incentives to attack the network verses the costs to attack the network that bitcoin would be destined to fail.
Additionally why would Scotland's government accept Bitcoin when they have free reign to keep printing fiat and inflate the money supply to pay off their debts? Governments do not give up power. Bitcoin is the people's currency.
Jump to: