@Inedible
How about to run it on gold, silver and Bitcoins?
Topic: Paying a Small Country to Make Bitcoin an ADITIONAL Official Currency - page 3. (Read 21557 times)
April 28, 2013, 07:52:54 AM
April 28, 2013, 07:37:37 AM
I think everyone is putting the cart before the horse.
There's no country in the world that will be willing to take up Bitcoin as their currency because their financial interactions with the outside world would be at the mercy of the volatile market prices.
Sure internally they're fine. They can price as they please.
Let's say it's 1BTC for a loaf of bread (keeping the numbers simple). Everything is going fine and people on Bitcoin Island do their own thing. All of a sudden, the price of Bitcoin crashes and I decide to pick them up at 500BTC per US Dollar.
Now I can buy up all the bread on Bitcoin Island for a few Dollars.
Note the inverse of this situation isn't true and the islanders are insulated from the outside world unless it's dependent on tourism/exports, in which case those businesses will suffer from being too expensive (to the outside world).
It's not possible to run your country on a currency you don't control without value stability against other financial actors.
There's no country in the world that will be willing to take up Bitcoin as their currency because their financial interactions with the outside world would be at the mercy of the volatile market prices.
Sure internally they're fine. They can price as they please.
Let's say it's 1BTC for a loaf of bread (keeping the numbers simple). Everything is going fine and people on Bitcoin Island do their own thing. All of a sudden, the price of Bitcoin crashes and I decide to pick them up at 500BTC per US Dollar.
Now I can buy up all the bread on Bitcoin Island for a few Dollars.
Note the inverse of this situation isn't true and the islanders are insulated from the outside world unless it's dependent on tourism/exports, in which case those businesses will suffer from being too expensive (to the outside world).
It's not possible to run your country on a currency you don't control without value stability against other financial actors.
April 28, 2013, 07:26:37 AM
Tuvalu, Tonga no hope
Looks like Iceland (Satoshis home country) is the frontrunner to have Crypto money first. Good location, way better than Nauru people know, accept and utilize bitcoins and the pirate party already has a say about it in parliament.
http://falkvinge.net/2013/04/28/icelandic-pirate-party-wins-enters-parliament/
Nauru currently lacks money to perform many of the basic functions of government; for example, the National Bank of Nauru is insolvent.
There are no personal taxes in Nauru. The unemployment rate is estimated to be 90 percent, and of those who have jobs, the government employs 95 percent
Tourism is not a major contributor to the economy
In the 1990s, Nauru became a tax haven and offered passports to foreign nationals for a fee,
The inter-governmental Financial Action Task Force on Money Laundering (FATF) identified Nauru as one of 15 "non-cooperative" countries in its fight against money laundering. During the 1990s, it was possible to establish a licensed bank in Nauru for only $25,000 with no other requirements.
From 2001 to 2008, it accepted aid from the Australian Government in exchange for housing the Nauru detention centre. (reopend 2012)
There are no banks or ATMs in Nauru
Nauru had 9,378 residents as of July 2011.
The country is a member of the United Nations.
The Currency in use is the Australian dollar (AUD) GDP 2006 estimate Total $36.9 million
Nauruans are the most obese people in the world.
Nauru is the world's smallest republic.
Looks like Iceland (Satoshis home country) is the frontrunner to have Crypto money first. Good location, way better than Nauru people know, accept and utilize bitcoins and the pirate party already has a say about it in parliament.
http://falkvinge.net/2013/04/28/icelandic-pirate-party-wins-enters-parliament/
Nauru currently lacks money to perform many of the basic functions of government; for example, the National Bank of Nauru is insolvent.
There are no personal taxes in Nauru. The unemployment rate is estimated to be 90 percent, and of those who have jobs, the government employs 95 percent
Tourism is not a major contributor to the economy
In the 1990s, Nauru became a tax haven and offered passports to foreign nationals for a fee,
The inter-governmental Financial Action Task Force on Money Laundering (FATF) identified Nauru as one of 15 "non-cooperative" countries in its fight against money laundering. During the 1990s, it was possible to establish a licensed bank in Nauru for only $25,000 with no other requirements.
From 2001 to 2008, it accepted aid from the Australian Government in exchange for housing the Nauru detention centre. (reopend 2012)
There are no banks or ATMs in Nauru
Nauru had 9,378 residents as of July 2011.
The country is a member of the United Nations.
The Currency in use is the Australian dollar (AUD) GDP 2006 estimate Total $36.9 million
Nauruans are the most obese people in the world.
Nauru is the world's smallest republic.
Look at nauru on the map, that place is SOOO small. And its entirely soveriegn and entirely broke. We libertarians really need to move there and take it over, it would be soo easy. And after we did we would have our own soveriegn nation, totally legitimate, recognized by every nation in the world as legitimate, no bs of trying to homestead some colony out in the middle of no where and spend the next 20 years attempting to gain legitimacy in the international community.
seriously look it up on google maps, you will crap your self when you see how small that totally soveriegn nation is.
April 28, 2013, 07:20:59 AM
Tuvalu, Tonga no hope
Looks like Iceland (Satoshis home country) is the frontrunner to have Crypto money first. Good location, way better than Nauru people know, accept and utilize bitcoins and the pirate party already has a say about it in parliament.
http://falkvinge.net/2013/04/28/icelandic-pirate-party-wins-enters-parliament/
Nauru currently lacks money to perform many of the basic functions of government; for example, the National Bank of Nauru is insolvent.
There are no personal taxes in Nauru. The unemployment rate is estimated to be 90 percent, and of those who have jobs, the government employs 95 percent
Tourism is not a major contributor to the economy
In the 1990s, Nauru became a tax haven and offered passports to foreign nationals for a fee,
The inter-governmental Financial Action Task Force on Money Laundering (FATF) identified Nauru as one of 15 "non-cooperative" countries in its fight against money laundering. During the 1990s, it was possible to establish a licensed bank in Nauru for only $25,000 with no other requirements.
From 2001 to 2008, it accepted aid from the Australian Government in exchange for housing the Nauru detention centre. (reopend 2012)
There are no banks or ATMs in Nauru
Nauru had 9,378 residents as of July 2011.
The country is a member of the United Nations.
The Currency in use is the Australian dollar (AUD) GDP 2006 estimate Total $36.9 million
Nauruans are the most obese people in the world.
Nauru is the world's smallest republic.
Looks like Iceland (Satoshis home country) is the frontrunner to have Crypto money first. Good location, way better than Nauru people know, accept and utilize bitcoins and the pirate party already has a say about it in parliament.
http://falkvinge.net/2013/04/28/icelandic-pirate-party-wins-enters-parliament/
Nauru currently lacks money to perform many of the basic functions of government; for example, the National Bank of Nauru is insolvent.
There are no personal taxes in Nauru. The unemployment rate is estimated to be 90 percent, and of those who have jobs, the government employs 95 percent
Tourism is not a major contributor to the economy
In the 1990s, Nauru became a tax haven and offered passports to foreign nationals for a fee,
The inter-governmental Financial Action Task Force on Money Laundering (FATF) identified Nauru as one of 15 "non-cooperative" countries in its fight against money laundering. During the 1990s, it was possible to establish a licensed bank in Nauru for only $25,000 with no other requirements.
From 2001 to 2008, it accepted aid from the Australian Government in exchange for housing the Nauru detention centre. (reopend 2012)
There are no banks or ATMs in Nauru
Nauru had 9,378 residents as of July 2011.
The country is a member of the United Nations.
The Currency in use is the Australian dollar (AUD) GDP 2006 estimate Total $36.9 million
Nauruans are the most obese people in the world.
Nauru is the world's smallest republic.
April 28, 2013, 07:07:17 AM
Ok, so if there would be anyone willing to do escrow...
I could pay somebody part of price of the plane ticket - to Tuvalu, Tonga or any other "interesting" country... just to go there, and to try to talk to some officials about Bitcoins. Somebody with good talk and good PR for sure. The full plane ticket should be less than 10 btc.
1st Bitcoin from me. I could send even now - to escrow person.
Who is willing to take a flight or to donate some Bitcoins?
I could pay somebody part of price of the plane ticket - to Tuvalu, Tonga or any other "interesting" country... just to go there, and to try to talk to some officials about Bitcoins. Somebody with good talk and good PR for sure. The full plane ticket should be less than 10 btc.
1st Bitcoin from me. I could send even now - to escrow person.
Who is willing to take a flight or to donate some Bitcoins?
April 28, 2013, 03:34:01 AM
Full. Of. Dudes.
See Tony Montana for that:
Quote
In this country, you gotta make the money first. Then when you get the money, you get the power. Then when you get the power, then you get the women.
Money always leads to interested bitches. That's really why I am hoarding like a mad man.
April 27, 2013, 09:51:23 PM
Full. Of. Dudes.
See Tony Montana for that:
Quote
In this country, you gotta make the money first. Then when you get the money, you get the power. Then when you get the power, then you get the women.
April 27, 2013, 09:16:45 PM
Full. Of. Dudes.
April 27, 2013, 07:53:21 PM
May be of interest to those of a certain attitude toward politics, personal freedom, and seafaring: /r/xnation
April 27, 2013, 06:42:15 PM
I thought the point of bitcoin is that you don't need a government to adopt it. In which case this whole discussion is beside the point!
still it would be nice to stick it to all the people who say, it isnt a real currency because you cant pay taxes in it =P.
April 27, 2013, 06:38:22 PM
I thought the point of bitcoin is that you don't need a government to adopt it. In which case this whole discussion is beside the point!
April 27, 2013, 06:15:51 PM
This is where we should make the real free state project, instead of trying to build it inside of mordor... And the first step can be bribing them into making bitcoin the national currency. That would attract the attention of a lot of libertarians.
http://en.wikipedia.org/wiki/Tuvalu
http://en.wikipedia.org/wiki/Tuvalu
April 27, 2013, 06:10:19 PM
Love this idea ... maybe a joint kickstarter campagn and btc pledging system is needed?
I think the better idea would be to implement bitcoin contracts and take advantage of them
https://en.bitcoin.it/wiki/Contracts#Example_3:_Assurance_contracts
April 27, 2013, 05:38:19 PM
Love this idea ... maybe a joint kickstarter campagn and btc pledging system is needed?
April 27, 2013, 04:18:19 PM
@phelix
Who do you suggest for escrow?
Who do you suggest for escrow?
April 27, 2013, 03:30:20 PM
LOL!
Well.. The land does belong to the CA teacher's union, something you would want bitcoin nothing to be associated with. But bitcoin would be cool with individual teachers and their family for sure.
Great find.
April 27, 2013, 03:14:59 PM
What about a native american "nation" in the western US? Lots of sun for alternative energy, high poverty rate, I'm sure some would be eager to jump on board. Its could be a start.
Pro's: Getting back at whitey as incentive.
Con's. I'm white
Pro's: Getting back at whitey as incentive.
Con's. I'm white
back at post number 66
April 27, 2013, 03:03:16 PM
What about a native american "nation" in the western US? Lots of sun for alternative energy, high poverty rate, I'm sure some would be eager to jump on board. Its could be a start.
Pro's: Getting back at whitey as incentive.
Con's. I'm white
Pro's: Getting back at whitey as incentive.
Con's. I'm white
April 27, 2013, 02:47:46 PM
Tonga is to big i think. Two treats going now really confusing.
April 27, 2013, 02:44:24 PM
since the "Principality of Hutt River" and "Freetown Christianiais" have been rejected. what about Pitcain Islands. The islands are inhabited by the descendants of the Bounty mutineers.
http://en.wikipedia.org/wiki/Pitcairn_Islands
http://en.wikipedia.org/wiki/Pitcairn_Islands
It could be one of the easiest...
But - Tonga could be better - it's more independent.
Escrow anyone? I want to send 1st BTC!
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