Bitcoin Forum

The Isle of Jersey wants to become a BTC financial hub.

http://lifeboat.com/blog/2014/06/tax-haven-jersey-now-wants-to-become-bitcoin-island?utm_medium=linkedin&utm_source=twitterfeed (http://lifeboat.com/blog/2014/06/tax-haven-jersey-now-wants-to-become-bitcoin-island?utm_medium=linkedin&utm_source=twitterfeed)

can be done cheaply. it wont take millions.

just get a £100 tablet pc, load it with bitcoin software and a POS terminal connection. and go to all the businesses on the island offering to set them up with bitcoins.

imagine you get a friend trained up to do the leg work, allow him to charge £100 labour and £100 for the tablet. costing a business £200 to be bitcoin friendly, would cost £100k to get 500 businesses bitcoin friendly on the island.. there, job done.

if the people that want to make jersey bitcoin friendly got sponsoring, they could offer the package to businesses cheaper/for free

one of these small independant islands, if they are smart will declare bitcoin their currency and make it not taxed. you will see a rash of bitcoin companies flocking to them to setup global bitcoin businesses

they would get on the OECD money laundering black list right away, no more international trade for them!

before jersey gets their brick and mortar stores to accept bitcoin. they should look at the ferry company, and the food/goods suppliers to the island. get them onboard with bitcoin. then the merchant part is simple and cheap.

no point making brick and mortar stores on the island bitcoin only, if they have to convert it to fiat to get re-supplies from the mainland, kinda defeats the point and makes bitcoin seem gimmicky rather then truly useful and part of the islands actual 'culture'

im thinking more of the whole ecosystem, not just finding a bitcoin friendly bank for tax dodging investments

Nothing special The environment of the Isle of Jersey for BTC is same as the other part of the UK.  probably just show off. No one is really willing to pay £200 to set up BTC payment because no many people carry bitcoin to pay when shopping in the island.

there have been many threads about bitcoin islands, where people want to physically build one (costing more then the entire market cap of bitcoin ($billions))

i just put my subtle hint that making an existing island bitcoin friendly only costs £100k max for 500 businesses. or if you take away the purchase cost of a tablet PC to give each business (get them to use their own phones/PC/tablets) and those advocates of a bitcoin island done the footwork and training with merchants voluntarily rather then a £100 consultation fee..

then it costs nothing..

but i still mentioned the £200 per business, because some people knitpick that no one wants to do anything for free, that people want to get paid for their sweat and talent.

either way £0 (voluntarily) - £100k (consultation+tablet package) is all it costs to get an island set up.

now all the bitcoin island advocates have to do, so to make bitcoin useful.. (get suppliers to accept bitcoin first. then get merchants to see the benefits of detaching themselves away from fiat, with the whole tax dodge, pay for wages/stock in bitcoin, show investment potential)

i dont believe this stuff since thepiratebay was collecting money for copyright free island
fairy tales

most of the time these are idle fantasies of people wanting money for nothing, without leaving the sofa. only time can tell if the jersey.je guys do the footwork and atleast plan a good strategy to follow

ill wait to see if they show news of their mainland produce suppliers and ferry's accepting bitcoin. then ill know if its just a retail gimmick or not..

as for the banking/investment side, well thats another waiting game

Looks interesting.

It seems it is just one guy trying to lobby to create a bitcoin Island, I don't see where Jersey officials are buying into this ?
Missing something ?

it may be suitable for underdeveloped countries, but if for developing and developed countries, it will be difficult. because they reasoned it would make the economy into chaos. and they will experience a great loss to it.

This is always the worst argument. Trying to take the extreme position that something will all happen over night without any transition.

As if Bitcoin is causing mass chaos right now as it replaces existing currencies.

dont base real world "lobbying" on the replies of this forum..

i personally prefer 20 people doing footwork talking to the powers that be, rather than sitting on this forum. true lobbying doesnt happen on a forum. but it doesnt hurt to thrash out idea's with the community on this forum. and when a good idea comes along, take it to the real world

I thought you were going to say your local supermarket had a bitcoin isle, just past the tampons :]

Jersey is already a sort of tax haven.  However the government of Jersey has afaik signed disclosure agreements with other countries.  I think bitcoin would be great for Jersey and the other Channel Islands.

I would be more than happy to be a pair of boots on the ground there.  From the images I've seen on google it's absolutely gorgeous!

I went on holiday there once for a week.

It is amazing. very nice. You can drive one side to the other in about 50mins.  And another thing, in terms of tax, if you are a lady and you are married your husband is responsible for paying it.

If any small island country like Jersey got serious and did this, they just might be attacked like Iraq one way or another. Watch Iceland over the next 5 or 10 years, and see if they don't get hit somehow for taking down their bankers.

:)

jersey stores no oil or gold for a invading army to take.. meaning nothing would be achieved by invading jersey

imagine a brave heart speach

"ya can take our hard drives, but ya'll never brake our encryption"

I would seriously consider moving there and/or registering by business there if they do this.  UK banks are seriously hindering bitcoin businesses and soon the whole country will be playing catch-up with the new bitconomy

Bitcoin island. Thats where i want to live

Would be good. SO far Isle of Man was open so there is SIS Siamese Coin made for them on x11 algo - https://bitcointalk.org/index.php?topic=651594

The Germans invaded Jersey in WWII and made it a base or a little while.

yes, but it could have been this small island has many missiles they buy with bitcoin, and large countries will also seek to shake and scramble bitcoin when their prices are so low: D

but any other country occupying an island, wont stop bitcoin... thats the brilliance of bitcoin being a digital asset and not a tangible commodity..

"ya can take our hard drives, but ya'll never brake our encryption"

meaning its a waste of time even trying

There's a difference between being a tax haven island, and a country that harbors a completely new kind of currency, a currency that could possibly destroy the banking system if allowed to continue out of control. It would all depend on if an example were needed to be made.

:)

But then look at what happened to DPR.

The US get hold of his btc (by whatever means) and have control of it.

So it can happen, and already has. Imagine an entire Island economy completely destroyed by a hack or other activity by a 3rd party (possibly another country)

though i hate people turning every idea into some government apocalypse story.
when you see military boats coming to the island, you have a good 20 minutes to move bitcoins.. try doing that with gold or bank notes :D

also governments know that they cant stop bitcoin by raiding a single office or island or country.. bitcoin doesnt work like that. these islands have always been tax havens, which has meant governments lost alot of potential income for decades, so being bitcoin friendly is no difference.

stop with the government war theories. it doesnt help your rep

I'm just of the opinion that the strength of btc is its decentralised nature, and to make it an official currency of a particular town city country etc means that it may make that place vunerable to attack.

Thats all.  No conspiracies here or war theories, just my opinion.

nah no attack.
there is more bitcoin flying around new-hampshire project, but they havnt been attacked
there is more bitcoin flying around new york, but they havnt been attacked

theres a town in europe that has alot of bitcoin merchants. .. but you guessed it, that hasnt been attacked
i can name more bitcoin centric places.. but they havnt been attacked so not worth mentioning.
then there are known bitcoin mining farms, and guess what, no military attacks.

in short the government dont give a crap, they are not showing any attempt to use violence against bitcoin (only drug dealers and launderers)
. so all these fantasies about military action against bitcoin is just that, fantasy.

so can we come back to reality and help project development, by using our brains to get development idea's and not fantasy stories. as Apocalypse fantasies is just wasting synapses for no reason