Topic: Paying a Small Country to Make Bitcoin an ADITIONAL Official Currency - page 6. (Read 21557 times)
April 24, 2013, 03:07:17 PM
We can make a new one and call it Bitcoinia or Bitcoinistan.
April 24, 2013, 02:37:40 PM
It would be fun idea, but.. how they would use those bitcoins ?
Everybody would have debit cards or stuff like that?
Everybody would have debit cards or stuff like that?
April 24, 2013, 02:04:20 PM
There is no need for the country or the citizens of the country to do even a single Bitcoin tx.
So you want to sell the So, bitcoin would be the official currency of the country, but not used by the people, because they keep using whatever they're using?
April 24, 2013, 01:56:58 PM
There is no need for the country or the citizens of the country to do even a single Bitcoin tx.
*cough*
Still waiting...
There is no need for the country or the citizens of the country to do even a single Bitcoin tx.
So you want to sell the
Nahh it would be completely independent from the normal currency.
April 24, 2013, 12:35:50 PM
i think it sound a really long procedure but not impossible at all, i can see where you are comming from
April 24, 2013, 12:32:33 PM
There is no need for the country or the citizens of the country to do even a single Bitcoin tx.
*cough*
Still waiting...
April 24, 2013, 07:10:18 AM
[...]
Sure, sorry for a moment I forgot you were proposing to pay a country to change their national currency
Honestly, though, it might happen without any payoffs.
Sure, sorry for a moment I forgot you were proposing to pay a country to change their national currency
Honestly, though, it might happen without any payoffs.
Not "their" national currency but an additional national currency. Can a country have more than one currency?
Giving away bitcoins to politicians or governments = money down the drain, because they will find ways to accommodate their banker donors within their future plans too.
On the other hand, if you give bitcoins to every resident of that country, bitcoin will become the currency of that country by default.
Either way, I think it's a waste of bitcoins. Bitcoin has so many advantages that it will become widely established on its own merits. As an alternative to giving away Bitcoins to a small country, it would help Bitcoin more to post a big bounty for a user-friendly interface to multi-sig transactions. If people can easily keep their bitcoins safe, they're more likely to use them.
It might offer some protection against getting prohibited. Should that ever happen in several large countries the price would probably drop so we could not it any more.On the other hand, if you give bitcoins to every resident of that country, bitcoin will become the currency of that country by default.
Either way, I think it's a waste of bitcoins. Bitcoin has so many advantages that it will become widely established on its own merits. As an alternative to giving away Bitcoins to a small country, it would help Bitcoin more to post a big bounty for a user-friendly interface to multi-sig transactions. If people can easily keep their bitcoins safe, they're more likely to use them.
April 24, 2013, 05:09:11 AM
It would be a one time investment. Once they would announce it the cat would be out of the bag.
What makes you think they would not pocket the money? UN laws?
Iceland is to me the obvious candidate. At 350000 it's a bit bigger than what the OP had in mind but it really ticks all the boxes:
Fiercely independent and isolated geographically. Forward thinking technological people. Energy independent (geothermal) so not having to constantly beg others. Seriously burned by the financial crisis and notably, the only country that reacted honorably to the disaster - they actually prosecuted financiers. And currently they have a currency which has crashed - they even considered converting to the euro but then regained their sanity.
As for people worrying about centralisation, just think about it for a minute - this is not a "sovereign" currency, there is no seignorage.
Would be nice but probably too expensive.Fiercely independent and isolated geographically. Forward thinking technological people. Energy independent (geothermal) so not having to constantly beg others. Seriously burned by the financial crisis and notably, the only country that reacted honorably to the disaster - they actually prosecuted financiers. And currently they have a currency which has crashed - they even considered converting to the euro but then regained their sanity.
As for people worrying about centralisation, just think about it for a minute - this is not a "sovereign" currency, there is no seignorage.
Sure, sorry for a moment I forgot you were proposing to pay a country to change their national currency
Honestly, though, it might happen without any payoffs.
April 24, 2013, 04:58:25 AM
Basically, you are talking about bribing some politicians... In my mind this would be a sinkhole investment...
giving away coin
April 24, 2013, 03:11:38 AM
There is no need for the country or the citizens of the country to do even a single Bitcoin tx.
So you want to sell the
April 24, 2013, 03:03:10 AM
It would be a one time investment. Once they would announce it the cat would be out of the bag.
What makes you think they would not pocket the money? UN laws?
Iceland is to me the obvious candidate. At 350000 it's a bit bigger than what the OP had in mind but it really ticks all the boxes:
Fiercely independent and isolated geographically. Forward thinking technological people. Energy independent (geothermal) so not having to constantly beg others. Seriously burned by the financial crisis and notably, the only country that reacted honorably to the disaster - they actually prosecuted financiers. And currently they have a currency which has crashed - they even considered converting to the euro but then regained their sanity.
As for people worrying about centralisation, just think about it for a minute - this is not a "sovereign" currency, there is no seignorage.
Would be nice but probably too expensive.Fiercely independent and isolated geographically. Forward thinking technological people. Energy independent (geothermal) so not having to constantly beg others. Seriously burned by the financial crisis and notably, the only country that reacted honorably to the disaster - they actually prosecuted financiers. And currently they have a currency which has crashed - they even considered converting to the euro but then regained their sanity.
As for people worrying about centralisation, just think about it for a minute - this is not a "sovereign" currency, there is no seignorage.
[...]
[troll attempt to derail the thread]
[useful part:] how do you think you'll be able to cover even the smallest country's transaction volume
[...]
There is no need for the country or the citizens of the country to do even a single Bitcoin tx.[troll attempt to derail the thread]
[useful part:] how do you think you'll be able to cover even the smallest country's transaction volume
[...]
April 24, 2013, 01:14:00 AM
The blockchain shat itself trying to process 40k transactions recently. Not withstanding the rest of the traffic, how do you think you'll be able to cover even the smallest country's transaction volume with SD sucking down the available place?
Very good point.
April 23, 2013, 06:36:32 PM
The blockchain shat itself trying to process 40k transactions recently. Not withstanding the rest of the traffic, how do you think you'll be able to cover even the smallest country's transaction volume with SD sucking down the available place?
April 23, 2013, 06:31:38 PM
Iceland is to me the obvious candidate. At 350000 it's a bit bigger than what the OP had in mind but it really ticks all the boxes:
Fiercely independent and isolated geographically. Forward thinking technological people. Energy independent (geothermal) so not having to constantly beg others. Seriously burned by the financial crisis and notably, the only country that reacted honorably to the disaster - they actually prosecuted financiers. And currently they have a currency which has crashed - they even considered converting to the euro but then regained their sanity.
As for people worrying about centralisation, just think about it for a minute - this is not a "sovereign" currency, there is no seignorage.
Fiercely independent and isolated geographically. Forward thinking technological people. Energy independent (geothermal) so not having to constantly beg others. Seriously burned by the financial crisis and notably, the only country that reacted honorably to the disaster - they actually prosecuted financiers. And currently they have a currency which has crashed - they even considered converting to the euro but then regained their sanity.
As for people worrying about centralisation, just think about it for a minute - this is not a "sovereign" currency, there is no seignorage.
April 23, 2013, 06:24:05 PM
April 23, 2013, 06:03:32 PM
So, what will happen with Satoshi Dice then?
April 23, 2013, 05:09:15 PM
Basically, you are talking about bribing some politicians... In my mind this would be a sinkhole investment...
It would be a one time investment. Once they would announce it the cat would be out of the bag.It's an interesting idea from a publicity standpoint. I think, it would have to be a fairly unique situation, like a small European principality or something, to turn into much more than that. But I'm not sure that lack of publicity is what's holding back Bitcoin at the moment.
April 23, 2013, 05:08:27 PM
I would move there.
April 23, 2013, 05:06:23 PM
It would be a one time investment. Once they would announce it the cat would be out of the bag.
What makes you think they would not pocket the money? UN laws?
April 23, 2013, 03:29:16 PM
In Germany Bitcoin is already treated like a foreign currency
What the hell are you talking about and what absurd place in Germany is this?
I bet it's Berlin, what with all their crazyness and being totally broke and all that.
If bitcoin becomes an official currency, the decentralized idea will disappear as with any country and currency there is a controlling institution over it.
Yeah, like all the small countries using the dollar more than their own currencies totally control it.Basically, you are talking about bribing some politicians... In my mind this would be a sinkhole investment...
It would be a one time investment. Once they would announce it the cat would be out of the bag.Jump to: