The legalization of bitcoin. - page 16.

just_Alice

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Quote from: Lancusters on June 17, 2017, 05:44:28 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?

This is not a good idea, I'm sorry to say that. We live in a world where pirates and other bandits are still there. So to live on that island we'll need an army, weapons and stuff and that's not what we want at all, right?

Actually we already have an island in a way, this forum, and seeing how people fight with each other sometimes we can can imagine what life would be like on the island you proposed even if we had no other problems.

HabBear

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Quote from: Lancusters on June 17, 2017, 05:44:28 AM

Do you think if we create an initiative group for the legalization of bitcoin.

Bitcoin is already legal in almost every country. Here's a list of Bitcoin's legality by Country: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

In some cases the Country hasn't formally declared Bitcoin legal but they don't declare it illegal, therefore it is legal.

And I don't like the "piece of this island" idea. How do you split up an island by a million or more people? What do we do with our small plot of land? Nothing.

dihari

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Quote from: NamedUser on June 17, 2017, 10:14:38 AM

Who cares if bitcoin is declared legal or not in your country? I'm not using bitcoins because my government said it's OK I'm using it because I can make my own decisions with my own money.

Yes you right. But remember one thing, when a country start to decide to make bitcoin as legal currency it will give bitcoin one step to become more popular and impact its increasing price.

avikz

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Quote from: Lancusters on June 17, 2017, 05:44:28 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?

The idea is good but the implementation is really really tough. Because most of the islands are controlled by the government. Even if the sell it to the group, they won't allow to introduce your own legalities there. The group will still have to act within their legal framework.

Also I believe, bitcoin is not really a good idea for transactions. It is really slow and transaction fees is also high which makes it an investor's currency. Personally I prefer to transact in fiat instead of bitcoin. Because bitcoin has got huge upside potential which makes it an attractive investment asset.

NamedUser

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Who cares if bitcoin is declared legal or not in your country? I'm not using bitcoins because my government said it's OK I'm using it because I can make my own decisions with my own money.

Hazir

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★Nitrogensports.eu★

Quote from: Lancusters on June 17, 2017, 05:44:28 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?

The idea in itself is not bad at all. In the same way that communism was a great political system - on paper.
The problem with making this idea works lies with execution and legal framework being weak points of this project.
What you want to create here is like hippie community and projects like these are very often ending very badly.

Conclusion:

Do I like the idea? Yes, very much.

Do I think it will succeed? No, it will be a disaster.

AK47-

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Quote from: Fortify on June 17, 2017, 09:31:57 AM

Every island out there is already controlled by a government, uninhabited or not - they will not allow you to just take over and build your own jurisdiction. You will still be subject to all the laws of the governing country, so cannot make your own laws. I think Sealand have gotten the closest to this idea, an offshore rig that offers hosting and other online services, along with "citizenship". If their closest neighbour wanted to take them over it could be done with ease.

Yeah, normally every island is located somewhere that falls under the jurisdiction of some country. There are not many if any pieces of land which are not owned by a government, or have overriding rules for it. There are some private islands available that you can buy and as long as they don't infringe on or override any other laws, you can make any rules you want on your own property. But those private islands are ridiculously expensive. Your idea wouldn't work this way.

onrise

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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 .

Fortify

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Every island out there is already controlled by a government, uninhabited or not - they will not allow you to just take over and build your own jurisdiction. You will still be subject to all the laws of the governing country, so cannot make your own laws. I think Sealand have gotten the closest to this idea, an offshore rig that offers hosting and other online services, along with "citizenship". If their closest neighbour wanted to take them over it could be done with ease.

Lancusters

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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?

Topic: The legalization of bitcoin. - page 16. (Read 5136 times)