The legalization of bitcoin. - page 12.

Kyraishi

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Quote from: Lancusters on June 17, 2017, 06:44:28 AM

Do you think if we create an initiative group for the legalization of bitcoin. To find uninhabited island, to announce the collection of funds for its acquisition. Everyone who contribute will receive a piece of this island. Based on the state of Bitcoin official currency of this state to make a bitcoin. Do you like this idea?

Why would you do this?

This isn't even an iniative to just legalize bitcoin in all of the countries, is to essentially create a bitcoin nation.

You'll have to face a lot of legal processes, and how are you going to find an uninhabited island anyways? Border disputes are common between big countries and as a country with a maximum population of 1000 people you're going to probably be told off as soon as you settle there.

Plus, legalizing bitcoin is not necessary. Governments cannot ban bitcoin completely. As long as a country is not putting crazy restrictions around bitcoin, i'm fine with it. They don't need to explicitly state that they want to legalize it, in fact a lot of the times legalization = regulation which isn't something a lot of bitcoiners want. Even if they do ban it, trading will just go p2p, and they can't do a thing to stop it completely.

boyptc

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Quote from: Lancusters on June 17, 2017, 06:44:28 AM

Do you think if we create an initiative group for the legalization of bitcoin. To find uninhabited island, to announce the collection of funds for its acquisition. Everyone who contribute will receive a piece of this island. Based on the state of Bitcoin official currency of this state to make a bitcoin. Do you like this idea?

We can create a group or organization but why aim for an island if we are living decently at home. And we can have transactions that are going to be done while we are at home. No need to make this idea happen, we are already using bitcoin and its our official currency.

Pattart

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Quote from: Maskedman on July 01, 2017, 10:07:04 AM

So you are hoping for the creation of an independant state because of Bitcoin on an island. This is impossible for the sole reason that no state will leave sovereignty over a piece of its land, so except if your plan is to buy a whole country that will not be feasable.

Lol or unless you're president of a country, you can just apply bitcoin as your primary currency but I'm sure you'll get pressure and protest from many parties, your cabinet, etc. Bitcoin is obviously still impossible for now getting legalized. The government has not yet wanted to legalize something anonymous and decentralized

beerlover

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Quote from: Maskedman on July 01, 2017, 10:07:04 AM

So you are hoping for the creation of an independant state because of Bitcoin on an island. This is impossible for the sole reason that no state will leave sovereignty over a piece of its land, so except if your plan is to buy a whole country that will not be feasable.

Actually you are getting wrong when it is become a legalize it will strong your economy even more than before. Suppose it is legalize by any state than that state will give an acceptance later to bank to accept the bitcoin investment into banks. So it will keep protected in your banks. And the risk will be also reduced.

audaciousbeing

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To achieve this won't be something of a short journey at all because how do we even get those products there in the first place, how do we even get out of our individual country, which country will allow us have an Island that won't hesitate? How do we even protect ourselves against foreign aggression? These and many questions begs for answer to show that our generation might not even the one that will benefit form such initiative while those coming after cannot be trusted to get it to reasonable conclusion.

Maskedman

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So you are hoping for the creation of an independant state because of Bitcoin on an island. This is impossible for the sole reason that no state will leave sovereignty over a piece of its land, so except if your plan is to buy a whole country that will not be feasable.

Quantumplation

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Quote from: Eternu on June 29, 2017, 03:52:27 AM

Quote from: Weatherby on June 28, 2017, 05:53:49 PM

Quote from: BitcoinPanther on June 27, 2017, 05:15:23 PM

Quote from: Joshua101101 on June 21, 2017, 06:06:36 AM

In my opinion, the idea is not bad, but it is doomed to failure. All parts of the planet have long been distributed among states and are controlled, and this will already be a violation of rights.

If they collected enough fund they can just buy these pieces of lands and own the rights on that property. I do not think that this kind of thing will bring a violation of rights as long as all is processed in legal ways. We do not need to barge in and say we own this land, we can just all act as a responsible law abiding adult and buy land that is owned by other people if they agree.

Every property comes under some form of government ,so it is an impossible task,OP is planning to build an entire township and have his rules imposed other than that what is the real use,if he is the sole habitat in that island,that does not make any sense either. Cheesy

There is no restrictions to use bitcoin so what is the problem now,he could accept bitcoin for his business can trade and you can have all the freedom in the world with bitcoin even now.

Yep, totally agree. It would be pointless to make state of bitcoin, if we could call it that. I mean it is an interesting idea, to think that there would be an island, where only bitcoin would be used as an currency. But with current situation it would be impossible, because of high fees and low transaction fee. Maybe in future, when more people start using bitcoin. Cheesy

A Bitcoin Island or state could work pretty well if the right person has enough Bitcoin to bring certain products into that area. If the people living in that are want to do Bitcoin transactions only then they can just trade wallet.dat files instead of relying on the confirmation timing.

Windpower

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Quote from: Lancusters on June 17, 2017, 06:44:28 AM

Do you think if we create an initiative group for the legalization of bitcoin. To find uninhabited island, to announce the collection of funds for its acquisition. Everyone who contribute will receive a piece of this island. Based on the state of Bitcoin official currency of this state to make a bitcoin. Do you like this idea?

First of all, I think that the idea is really great and I love to see people being creative, like yourself.

However, do I ever see this idea ever taking off? Now that is a different story. There isn't really an island out there that isn't owned by some country. Literally every country claims all the islands they find which makes this idea obsolete. Although the island is uninhabited, the same rules and laws apply to it, making the legal currency fiat. If you wanted to use Bitcoin on that island, it would be close to impossible as a lot of work would need to be put in by the country's government.

I like the idea, but the chance of it succeeding are very low.

Sled

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Quote from: Eternu on June 29, 2017, 03:52:27 AM

Quote from: Weatherby on June 28, 2017, 05:53:49 PM

Quote from: BitcoinPanther on June 27, 2017, 05:15:23 PM

Quote from: Joshua101101 on June 21, 2017, 06:06:36 AM

In my opinion, the idea is not bad, but it is doomed to failure. All parts of the planet have long been distributed among states and are controlled, and this will already be a violation of rights.

If they collected enough fund they can just buy these pieces of lands and own the rights on that property. I do not think that this kind of thing will bring a violation of rights as long as all is processed in legal ways. We do not need to barge in and say we own this land, we can just all act as a responsible law abiding adult and buy land that is owned by other people if they agree.

Every property comes under some form of government ,so it is an impossible task,OP is planning to build an entire township and have his rules imposed other than that what is the real use,if he is the sole habitat in that island,that does not make any sense either. Cheesy

There is no restrictions to use bitcoin so what is the problem now,he could accept bitcoin for his business can trade and you can have all the freedom in the world with bitcoin even now.

Yep, totally agree. It would be pointless to make state of bitcoin, if we could call it that. I mean it is an interesting idea, to think that there would be an island, where only bitcoin would be used as an currency. But with current situation it would be impossible, because of high fees and low transaction fee. Maybe in future, when more people start using bitcoin. Cheesy

We are not able to use just one currency like bitcoin for all the people in the world because the very first reason is, the supply of bitcoin that is limited to fixed number and it will not able to supply all the needs of people and also the fees of bitcoin which is getting higher and higher and it means that we are not able to transact regularly because the fees is such a pain in the ass for us.

Eternu

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Quote from: Weatherby on June 28, 2017, 05:53:49 PM

Quote from: BitcoinPanther on June 27, 2017, 05:15:23 PM

Quote from: Joshua101101 on June 21, 2017, 06:06:36 AM

In my opinion, the idea is not bad, but it is doomed to failure. All parts of the planet have long been distributed among states and are controlled, and this will already be a violation of rights.

If they collected enough fund they can just buy these pieces of lands and own the rights on that property. I do not think that this kind of thing will bring a violation of rights as long as all is processed in legal ways. We do not need to barge in and say we own this land, we can just all act as a responsible law abiding adult and buy land that is owned by other people if they agree.

Every property comes under some form of government ,so it is an impossible task,OP is planning to build an entire township and have his rules imposed other than that what is the real use,if he is the sole habitat in that island,that does not make any sense either. Cheesy

There is no restrictions to use bitcoin so what is the problem now,he could accept bitcoin for his business can trade and you can have all the freedom in the world with bitcoin even now.

Yep, totally agree. It would be pointless to make state of bitcoin, if we could call it that. I mean it is an interesting idea, to think that there would be an island, where only bitcoin would be used as an currency. But with current situation it would be impossible, because of high fees and low transaction fee. Maybe in future, when more people start using bitcoin. Cheesy

Weatherby

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Quote from: BitcoinPanther on June 27, 2017, 05:15:23 PM

Quote from: Joshua101101 on June 21, 2017, 06:06:36 AM

In my opinion, the idea is not bad, but it is doomed to failure. All parts of the planet have long been distributed among states and are controlled, and this will already be a violation of rights.

If they collected enough fund they can just buy these pieces of lands and own the rights on that property. I do not think that this kind of thing will bring a violation of rights as long as all is processed in legal ways. We do not need to barge in and say we own this land, we can just all act as a responsible law abiding adult and buy land that is owned by other people if they agree.

Every property comes under some form of government ,so it is an impossible task,OP is planning to build an entire township and have his rules imposed other than that what is the real use,if he is the sole habitat in that island,that does not make any sense either. Cheesy

There is no restrictions to use bitcoin so what is the problem now,he could accept bitcoin for his business can trade and you can have all the freedom in the world with bitcoin even now.

BitcoinPanther

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Quote from: Joshua101101 on June 21, 2017, 06:06:36 AM

In my opinion, the idea is not bad, but it is doomed to failure. All parts of the planet have long been distributed among states and are controlled, and this will already be a violation of rights.

If they collected enough fund they can just buy these pieces of lands and own the rights on that property. I do not think that this kind of thing will bring a violation of rights as long as all is processed in legal ways. We do not need to barge in and say we own this land, we can just all act as a responsible law abiding adult and buy land that is owned by other people if they agree.

voltesbit777

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Quote from: Lancusters on June 17, 2017, 06:44:28 AM

Do you think if we create an initiative group for the legalization of bitcoin. To find uninhabited island, to announce the collection of funds for its acquisition. Everyone who contribute will receive a piece of this island. Based on the state of Bitcoin official currency of this state to make a bitcoin. Do you like this idea?

I think thats impossible to be happen, due to all mountains, forest, river, and island are property of each government of the
nation. Unless you own that island and paid it in the goverment.

frowsiter

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That's off the chart idea. You can't just hold any island out there as all of them will be ruled by next government present nearest to that land. For example if it is in western Pacific Ocean then it is most probably under the rules of USA while the islands in the eastern Pacific Ocean would be under the territory of India. So you go anywhere in the world you will have to face the legislation first to acquire that particular island. It is good idea but bitcoin is not that powerful to get you island as government should accept that particular currency that is bitcoin to let you buy it. It seems to be complex idea and may not be possible at this point.

White Christmas

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Quote from: onrise on June 17, 2017, 10:38:25 AM

Every country has their own law and so is the case with Bitcoin . Few countries have legalised it while some are I. Process of how to bring this under purview so that it can be monitored and legalised as well. How does it benefit economy and citizens of the country is also what government takes into consideration .

Yes every country have their own rules to be follow. Legalization of bitcoin was depend on the government of one country. Before government accept bitcoin they look first on its advantages and disadvantages. if its help people or not. In my country bitcoin was still not legalized.

emezh10

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Your opinion is impossible for me however the bitcoin can be adopted in the countries that is open for change and in upgrade if that is going to happen the bitcoin price will pump because that is a milestone for bitcoin and I think if that will happen in just one country many countries will be interested and make a move also.

Obito

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Quote from: wxa7115 on June 21, 2017, 06:36:50 PM

Quote from: bit1 on June 18, 2017, 02:47:03 AM

Quote from: wxa7115 on June 18, 2017, 02:12:09 AM

Quote from: Lancusters on June 17, 2017, 06:44:28 AM

Do you think if we create an initiative group for the legalization of bitcoin. To find uninhabited island, to announce the collection of funds for its acquisition. Everyone who contribute will receive a piece of this island. Based on the state of Bitcoin official currency of this state to make a bitcoin. Do you like this idea?

It will not happen, every single piece of land has an owner, and when a new piece of land emerges due to volcanic activity or something like that, a government will claim ownership of that land, so unfortunately it is not possible to do that at the moment.

Anyway that does not stop that somebody can buy an island or yes? The thing is maybe that you could not buy much on that island, perhaps the direct exchange of goods would give much better result on that island, but in any case there isn´t need to mix one thing with another, it's almost like saying legalize internet,
oh wait, was it ever oneday illegal? in any case could be try of "regulate" but depending on what or for whom,
only starting from there already represents a problem define it.

You can buy an island but you cannot impose your own laws, you are still subject to the laws of the country that island belongs, you cannot try to create a country out of nowhere, believe me some have tried, look for the principality of sealand if you don’t believe me.

True, you could buy an island however you could not still create your own law because you are still in the teritory of that county. I mean if that possible then there are many country sprouting now and every rich man have thier own country. Legalization of bitcoin in ones country is possible as long as the government will accept it.

gracia0023

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In my opinion it will take times to happen or maybe its impossible to legalized. All of country have a legal fiat and they have follow their own laws in implementing the adaptation of new currencies entering in their custody. The fact is bitcoin is hard to legalize because of status in economic growth of one country. The situation bitcoin can't contribute the economic system of one nation. Also bitcoin is anonymous and the used of this is through internet. Another thing is there are a lot of hindrances to legalized it and some country can't accept or adopt bitcoin.

thymeow

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This is a good idea and more advance way of currency.
Since there are multiple redundant copies of the transactions database, no one can seize bitcoins. The most someone can do is force the user, by other means, to send the the bitcoins to someone else. This means that governments can’t freeze someone’s wealth, and thus users of Bitcoins will have complete freedom to do anything they want with their money. Sending and receiving Bitcoins requires users to keep the Bitcoin client running and connected to other nodes. Essentially, by using bitcoins users will be contributing to the network, and thus sharing the burden of authorizing transactions. Sharing this work greatly reduces transaction costs, and thus makes transaction costs negligible.

coolcoinz

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Quote from: rmall on June 17, 2017, 04:30:13 PM

I'm having a hard time trying to understand why anyone would want a country with bitcoin as the main form of currency. As a really volatile coin, prices would raise and fall almost daily, as globalization made almost every single product international. Living in the island would be a really terrible experience, or just plainly impossible. It would make bitcoin a "real" currency... But that would change nothing on how things work today. It's a bad idea, in general.

Actually the more people are using it the less volatile it becomes. More distribution = more stabilization. If a country started using it as a main currency, there would be 20 million people using it on a daily basis. That's 20 million more users who have to turn their savings into Bitcoin.
We'd have a sharp increase in price, a lot of new users that will receive their wages in Bitcoin, more stability in the market as new people won't be playing, they will be using it to buy stuff, which means they won't be dumping or reacting to dumps, as there will be nothing to dump into with no national fiat currency.

Topic: The legalization of bitcoin. - page 12. (Read 5119 times)