Topic: Paying a Small Country to Make Bitcoin an ADITIONAL Official Currency - page 5. (Read 21557 times)

Target a country like Greece, their citizens are desperate for a way out of the banking system that has done nothing but mercilessly screw them all.

Tuvalu, well i been there.
The country basically survives from an Australian, New zealand trust fund.
Would they give up membership of world bank and asian develpment bank and risk relations form the hand who feeds them for some for ASICS they would have to buy?? Who is going to explain to them what a bitcoins is, most struggle to read a newspaper.
Bunkers, the majority of the useful land is 1 meter above high tide make in the middle of the ocean.  Who is paying for upgrading internet infrastructure in the middle of the ocean??

Tuvalu is a member of the World Bank and the Asian Development Bank.
Tuvalu maintains close relations with Fiji, New Zealand, Australia, Japan, South Korea, the United Kingdom and the European Union. It has diplomatic relations with the Republic of China (Taiwan); the ROC maintains the only resident embassy in Tuvalu and has a large assistance programme in the islands.
Tuvalu is party to a treaty of friendship with the United States,

The highest elevation is 4.6 metres (15 ft) above sea level on Niulakita, which gives Tuvalu the second-lowest maximum elevation of any country (after the Maldives). However, the highest elevations are typically in narrow storm dunes on the ocean side of the islands which are prone to overtopping in tropical cyclones, as occurred with Cyclone Bebe, which was a very early-season storm that passed through the Tuvaluan atolls in October 1972.
Because of the low elevation, the islands that make up this nation are threatened by current and future sea level rise.
Additionally, Tuvalu is annually affected by king tide events which peak towards the end of the austral summer, and raise the sea level higher than a normal high tide. As a result of historical sea level rise, the king tide events lead to flooding of low lying areas, which is compounded when sea levels are further raised by La Niña effects or local storms and waves. In the future, sea level rise may threaten to submerge the nation entirely as it is estimated that a sea level rise of 20–40 centimetres (8–16 inches) in the next 100 years could make Tuvalu uninhabitable.

+1

Tuvalu...
Couldn't that country invest in couple of upcoming ASICs mining rigs if the bitcoin was green lighted over there?
They could also become the Cayman islands for bitcoins with cold wallets inside "climate controlled", hurricane proof buried bunkers. They could rent them out like a physical bitcoin bank. All in bitcoin of course.
They could include the definition and protection of crypto currency into their constitution and becoming, not just a new Cayman Island, but a new Switzerland for crypto.

It is not so much to pay out a country. If the country believes in the cause, no matter how little they can contribute by investing into the program (lands, etc), then slowly but surely bitcoin millionaires will come, if Tuvalu builds it.

No can go back to school.  They ask me to go home.

hmmm...please go back to school.
Your grammar makes me cry- I could not even get a sense of what you wanted to express.

On a purely sarcastic level, sure it's a great fit.  On a "move bitcoin forward", "raise awareness", "we're not just drug dealers and tax cheats" level, it's counterproductive.

I love the comedy value however.

Tuvalu, Im coming!

I was waiting for this! 

So basically you're saying Tuvalu would be perfect place for bitcoin to start?

Tuvalu is a bad idea.  The Prime Minister is a scammer of the first order.  He jets around the globe begging for money since his island is sinking because of global warming.  It's not.

They are expanding the International airport to accomodate "green" tourists who want to see the sea rise.  The airport is AT sea level.

They changed the laws recently to allow foreign ownership of land to try and cash in on the eco-crisis.

caveat emptor

I think it's a good idea.   This country is struggling and is entirely dependent on handouts.   It's a tech savvy country in terms of using the internet to generate income with proof coming from the .tv domain name.

You want to target a country to back their currency with bitcoin, that's the country.

This makes a good point!

Here's my analysis from March when the whole Cyprus debacle broke. The Cypriot government could have actually done this without our help by selling a couple of their gold bars!

I remember reading somewhere that there is a South American country who's official currancy is the US Dollar. you might want to talk to them.

I think that to be viable the entire country would have to have free wifi.

You know the right target for this right?  The Government of Tuvalu.   Nearly all it's income is derived from .tv domain name.

http://en.wikipedia.org/wiki/Economy_of_Tuvalu

and for general history of the country.

http://en.wikipedia.org/wiki/Tuvalu

The Prime Minster posts on Reddit all the time,  his username is " PMofTuvalu "

http://www.reddit.com/r/Foodforthought/comments/1b6lep/the_25_least_visited_countries_in_the_world/c94gcp5?context=3

I'm just stating that if you wanted to ask a country to adopt bitcoin,  that would be the country...  they would most likely need at least 200,000 bitcoins to start...  



The exact proposition is to say each Tuvaluan dollar equals .003 BTC.  Similar to this image,  how the United States used to view currency.

"This certifies that there is .003 bitcoin on deposit in exchange for this note on demand"



for the first year or two it most likely would be our responsibility to keep there treasury funded...     honestly I doubt the bitcoin community would be up to it...  literally you're most likely talking about 200,000 bitcoins or more.

It's a valuation of about $30,000,000  .. not much money for what you are buying... but i would be shocked to see if the community actually funded it.

GDP: purchasing power parity $36 million (2010 est.)[4]

GDP: official exchange rate $32 million (2010 est.)[4]

GDP - real growth rate: -1.7% (2009); 0.2% (2010 est.) 0% (2011 proj.)[13]

GDP - per capita: $2,447 (2009)[13]

GDP – composition by sector: (2002)[4]

[17]GNI - GNI per capita: $4,760 (current US$ 2010)

Agriculture: 16.6%

Industry: 27.2%

Services: 56.2%

Inflation rate (consumer prices): -1¾% (November 2010)[13]

Total population: 10,544 (July 2011 est.)[4]

Labor force - by occupation: people make a living mainly through exploitation of the sea, reefs, and atolls and from wages sent home by those working abroad in Australia and New Zealand and sailors working of merchant ships.

Labour force: 3,615 (2004 est.)[4]

Unemployment rate: 16.3% (2004)[13]

So... what's the exact proposition, bribe a country into saying that bitcoin is now it's official currency, but then let them totally ignore it?

Exactly. They would do it on paper so that Bitcoin gets potential benefits but they don't have any trouble.


I actually think that making bitcoin an "official currency" would be a bad idea.

It's what a lot of people want to move away from, the general idea of an official currency.
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There might be some advantages from gaming the system.

I actually think that making bitcoin an "official currency" would be a bad idea.

It's what a lot of people want to move away from, the general idea of an official currency.