Topic: Which country might switch to BTC? - page 3. (Read 1430 times)
Well it's not going to be like that. There are central banks at each country regulating the currency and inflation rates. And it would make their constitution void if they'd do that. But it could be used by the citizens as a secondary if not primary currency. Also you might want to study cambodia, they're using US Dollars in street shops and using their own currency for the small change. It could be similar to that.
One of the potential causes for an explosion in the price of BTC would be if a country decided they wanted use it as the national currency. What countries do you think are potential candidates?
There are currently more than sixty countries who do not have their own currency listed on wikipedia https://en.wikipedia.org/wiki/Dollarization These are governments who don't think it's worth the hassle of printing and managing currency just to have a few extra economic controls.
Some countries, like Somalia, could obviously benefit, but lack the internet infrastructure. There's been a lot of talk about Argentina for example, but I know next to nothing about them. What if a private army like the infamous Kony started using it? Again, infrastructure is an issue. Maybe a rich region could declare independence from a poorer capital, and switch to BTC?
Any ideas?
There are currently more than sixty countries who do not have their own currency listed on wikipedia https://en.wikipedia.org/wiki/Dollarization These are governments who don't think it's worth the hassle of printing and managing currency just to have a few extra economic controls.
Some countries, like Somalia, could obviously benefit, but lack the internet infrastructure. There's been a lot of talk about Argentina for example, but I know next to nothing about them. What if a private army like the infamous Kony started using it? Again, infrastructure is an issue. Maybe a rich region could declare independence from a poorer capital, and switch to BTC?
Any ideas?
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