I've got a suggestion to make BTC unquestionablly legal. not sure new or not. - page 2.

qikaifu

full member

Activity: 168

Merit: 100

God creats math and math creats bitcoin.

Quote from: Terpie on June 02, 2011, 11:07:08 AM

The cost for something like this could only start to become justifiable if USD/BTC was in the high 3 digit range or 4 digit range.

It's possible. If 1BTC=1000 USD, it's only 10 billion worth of economy. it's just as large as the market cap. of a middle sized list company on the NASDAQ. it's not that difficult with the more and more recognition from all over the world.

And you guys and all the Bitcoiners must decide a three-letter currency code representing 1e-3 bitcoins, before the "UTC= 1e-6 bitcoins" is actually meaningful in daily use of Bitcoin.

Terpie

full member

Activity: 174

Merit: 101

You'd have to offer a government a premium, on top of the price of the land, for them to concede sovereignty. That or just defend it with guns. Even then, there is no guarantee that other countries will recognize your sovereignty. The cost for something like this could only start to become justifiable if USD/BTC was in the high 3 digit range or 4 digit range.

qikaifu

full member

Activity: 168

Merit: 100

God creats math and math creats bitcoin.

Suppose that:
1) The early adopters must have a bunch of BTC in hand.
2) The others with BTC in hand is willingly to donate.

Then:
1) when the BTC/USD exchange went high up, sell some of the BTC. That must be a large amount of USD.
2) With the USD, buy a piece of land in the Africa, or a small island in the Pacific Ocean
3) Co-work with a group of lawyers and diplomatists, make this island as a new nation.
4) Declare to the world, that the BTC is the Legal tender of this nation.

P.S

My mother tongue is not English, and thanks EFF a lot, from which I learnt the phrase "Legal tender".

Topic: I've got a suggestion to make BTC unquestionablly legal. not sure new or not. - page 2. (Read 3178 times)