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Title: 2013-04-05 CNBC: Bitcoin Utopia? Interest Is Sky High in This Euro Nation Post by: n8rwJeTt8TrrLKPa55eU on April 05, 2013, 01:54:31 PM Spoiler: Finland.
http://www.cnbc.com/id/100618694 Title: Re: 2013-04-05 CNBC: Bitcoin Utopia? Interest Is Sky High in This Euro Nation Post by: cypherdoc on April 05, 2013, 04:28:35 PM you know, if America isn't careful, we could see an enormous shift of wealth.
Title: Re: 2013-04-05 CNBC: Bitcoin Utopia? Interest Is Sky High in This Euro Nation Post by: RodeoX on April 05, 2013, 04:36:13 PM you know, if America isn't careful, we could see an enormous shift of wealth. I wonder about that also doc. If a country like Finland brought bitcoin into the fold of their banking system there might be a huge influx of wealth into Finnish banks. Some country is going to do this sometime and tax haven countries may feel the pain. Title: Re: 2013-04-05 CNBC: Bitcoin Utopia? Interest Is Sky High in This Euro Nation Post by: kiko on April 05, 2013, 04:45:05 PM I, for one, welcome our new Arctic overlords.
Title: Re: 2013-04-05 CNBC: Bitcoin Utopia? Interest Is Sky High in This Euro Nation Post by: cypherdoc on April 05, 2013, 04:48:12 PM you know, if America isn't careful, we could see an enormous shift of wealth. I wonder about that also doc. If a country like Finland brought bitcoin into the fold of their banking system there might be a huge influx of wealth into Finnish banks. Some country is going to do this sometime and tax haven countries may feel the pain. many years ago, i read a fascinating article about this phenomenon from the gold camp (as i was a member at the time). i can't remember all the specifics but it went something like this: if a nation went back to the gold std, speculators from round the world would rush to buy its fiat currency and drive it up to levels that would KILL their own economy. i'm not sure i ever understood this but i took it to mean making their native corporations have a more difficult time selling their goods abroad as they would be "too" expensive. i suppose one could make the same argument against Bitcoin. the problem is, i'm not sure i buy that. how could a strengthening of a nations currency be a bad thing? it certainly would be good for the ppl as they'd have more purchasing power and could travel the world with impunity. personally, i'd love to see it as i think the long term trend is away from big corporate conglomerates anyways. not to mention the ppl need to be treated better and Bitcoin gives them that choice. Title: Re: 2013-04-05 CNBC: Bitcoin Utopia? Interest Is Sky High in This Euro Nation Post by: kiko on April 05, 2013, 05:14:26 PM how could a strengthening of a nations currency be a bad thing? it certainly would be good for the ppl as they'd have more purchasing power and could travel the world with impunity. When a country is generally uncompetitive. Its much easier for a politician to advocate debasing the currency, then run on a campaign of wage cuts for everyone, economically it's the same thing. So why do the one that makes everyone more upset. You can't print your way to prosperity, but you can print your way to full employment. Title: Re: 2013-04-05 CNBC: Bitcoin Utopia? Interest Is Sky High in This Euro Nation Post by: cypherdoc on April 05, 2013, 05:58:05 PM but you can print your way to full employment. how's that been working out across the world these days? not so well as this mornings NFP illustrates. i don't think its clear. there's a decent chance, IMO, that a nation adopting Bitcoin could become prosperous overnight. |