Bitcoin Forum

http://qz.com/399531/denmark-hopes-to-boost-its-economy-by-eliminating-cash/ (http://qz.com/399531/denmark-hopes-to-boost-its-economy-by-eliminating-cash/)

Denmark is a nanny state. So is Sweden and Finland.

They'll tax you to death, forbid you from using cash, stiffle your political freedom. Digusting!

Yeah, with an average tax burden of 48%!

I'd rather earn less and have the freedom to carry cash.

EDIT: Also, are you sure those figures are accurate? Are we talking per capita or household income?

What is it with this Bitcoin hub thing?
Is this some kind of new trend?
Trying to guess where could the Bitcoin hub be.

Bitcoin DOESN'T NEED A HUB?

Exactly!  A hub implies a level of centralization I'm not really comfortable with.

We don't need a hub, we just need people to use the currency.
One thing we need is for coinbase and other anal probing, fully KYC/AML compliant exchanges to f*** off. That's what BTC needs!

Doesn't really say anything about bitcoin, just 'alternative payment systems' from what I gather.


I don't think making change takes that long, and probably just the same as using a credit or debit card to be honest. People will still need security systems for thefts of over things aswell  but I guess it would eliminate cash robberies.

And why is everyone all of a sudden using the 'bitcoin hub' terminology?

This is probably to ensure that tax compliance is high. They would definitely not like people to bypass their monitoring systems by using Bitcoin.

theres nothing wrong with a hub meaning a place of increased usage and popularity.

"The idea is that transaction costs, as well as crime, go down when physical currency is eliminated. " I like this effect.

What is the rationale behind eliminating cash? It's not what reduce administration costs and reduce crime... Read between the lines, and you will find that the government wants to reduce the un-taxed shadow economy:


If all spending is done in digital payment systems, it is much harder to hide revenue and expenditure  ;)

Back to the Bitcoin hub notion. No, Danish Government wants money to be easily traced, it's the opposite of what bitcoin is offering.

Wow. I never thought something like that would arrive so rapidly. It's pretty insane the speed that having control over your own money is eroding.

True, the taxes on those countries are super ridiculous, but guess what, the final brute income is still way higher than the rest of european countries, life quality is great, welfare is insane as well. Some people getting higher welfare monthly than lots of workers all over the globe. I don't get how those countries can still function nicely.

Denmark? No way, the people there love the state too much to appreciate anything disruptive like BTC.

There will never be a cashless country,because one way or another fiat is necessary and it will always be

The Question is why do we need a hub?

Is there any requirement to have a bitcoin hub. I guess no. People just start adopting it and using it it's enough for bitcoin community as a whole. Once the demand will increase supply will automatically increase and nobody have an control over bitcoin so there is no need of hub.

As a natural result of like-minded folks congregating in a place you end up with collaboration and thus increased innovation and investment.

Everyone can rot in their very own garden sheds across the globe or get together and make more progress.

Silicon Valley, Hollywood, Nashville, they're all places that strongly influence their respective industries. The only reason why is because people with the right skills to excel in them turn up there.

Cashless does not mean decentralized cashless  :D The Danish government think about that because so much money flowed into Danish currency after the announcement of the ECB, the Fed and all the others to increase their balances. They just want to control money flows much easier what is possible with a centralized cashless currency.

Pinpointed! Moon would be an acceptable "HUB" but not any banana republik, anywhere.

The country which has the most exchanges and the most bitcoin merchants is where the hub is. A cashless country is only a credit card hub.

The hub is in the cloud

I don't think it will change the fact that they are still using centralized fiat currency! Many places are still accepting cash. I don't think it will make it be bitcoin hub in the near future.

Well, we need some country to take the lead.... this would be a good experiment to see if it would be a global success.  8)

The main question : What payment method would they use? If it's not Blockchain based or decentralized, I would say NO.

Cashless does not necessarily mean Bitcoin, neither does Alternative payment methods.