Bitcoin Forum

Israel.

The current war between Hamas and Israel is aimed at weakening the Israeli economy.  Hamas knows they aren't going to kill or scare people enough for it to significantly affect their lives.  However, they also realize that Israel is spending a tremendous amount of money on Iron Dome and the rest of the army offensive.  Hamas's plan is to weaken the Israeli economy, which will erode the value of the Shekel and will eventually lead to hyper-inflation.  The war is going to expand to fighting in the north with Hezbullah within the next month or so, IMO.

Israel is a hotbed for technology, and I believe nationwide adoption will occur first in Israel, while the rest of the world will follow soon thereafter.

Thoughts?

The issue in adopting Bitcoin on a nation scale (I mean the people not the government) is it comes down a game of plurality.

The vast plurality of Bitcoin holders come from developed countries and/or from China, so if Israelis were to adopt Bitcoin then it would in essence be a transfer of wealth to those people.  If Israel were to fully embrace Bitcoin it would probably make them even poorer than they already are.

Much like I laugh when people say Russia should put all their bonds into Bitcoin (that'ld just be money from rich Russians being transferred to middle class people in the west).


It's very ironic when you hear countries like America, Canada and Netherlands being hostile to Bitcoin when they likely stand the most to benefit from it (the Chinese buying Bitcoin back in November was in essence money going from rich Chinese to largely middle class Americans and west. Europeans).

I doubt Israel government would adopt bitcoin. Bitcoin is out of their control, they may even ban bitcoin because it might be use to fund terrorism.  Israel government don't understand bitcoin.

Thought? Here is a thought for ya...
Israel is fighting an imaginary enemy. Iron dome is just a glorified fireworks show!

https://www.youtube.com/watch?v=uM0J0LI1ymA

I could see Singapore adopting it with a lot of regulation long before Israel would even consider it.  For Israel to adopt it the US would have to adopt it first  :P

Ha, you think the Jews are going to use a money they cant control? No government would ever do this because they lose power over it then and that's what's wrong with centralised fiat systems.

Hamas wont ever weaken or destabilise Isreal's economy. Isreal is rich whilst Palestine is poor.

If any country will ever fully adopt bitcoin it will probably be a very small country. I think a country would probably rather experiment with their own form of digital currency than bitcoin, but I'm not sure if bitcoin would be a safe experiment to use with current volataility.

If a particular country adopt a cryptocurrency as payment method and nothing else will be accepted this automaticly will make it centralized by the government ad the banks. I think the economy of one country can not survive with currency like Bitcoin now. May be this can happen in the far future, but for now BTC is only a tiny project and a huge casino .
BR

No country will ever adopt bitcoin fully, there is no reason to.

Yes. I do not see why any population want to give up their own political power and use bitcoin.

There's plenty of reason to. Just look at the countries where their currency is collapsing right now and the governments are stealing their citizens wealth.

They might not have a choice. What if a country gets fed up of their corrupt government and corrupt money system and decides to not use fiat any more? Bitcoin could easily help bring about a revolution.

Why do you say that? I think there are plenty of reasons why one could.

Going by that thought..

No country will ever adopt christianity there is no reason to.. Paganism is so cool, athena is sexy.

No country will ever adopt democracy, there is no reason to.. Why give up being a king for life to be a president with only 4 years hot seat.

My list, in no particular order.

1. Cyprus
2. Argentina
3. India
4. Portugal
5. Ireland
6. Greece
7. And with enough time, the USA (meaning it will be regarded as legal tender, able to pay taxes and and government fees in bitcoins)

Maybe it'll be a new micronation and not an existing country.

I'm not sure there will be a country to fully adopt it. I think it might become a big part of some or blossom in certain countries, but not full blown adoption. It just seems too unrealistical for that.

I also don't think an entire country will adopt it or certainly not any time soon. I think its use will grow a lot in certain underground scenes in some countries that are struggling, but also its use on the black market will grow.

singapore

Probably some island with less than $1000 thinks it'll be good to boost tourism and become famous.

Singapore currency is strong. Not sure why they will want to give it up and change if it is already working well.

I think for smaller countries is easier to adopt and change than for big countries so some small island nation have good chance, it's sure.
it can be other way around and some country in big financial troubles like Argentina now, can try with Bitcoin, who know :)

I can see counties allowing BTC, but cant see any govenment adopting only BTC, because when their currency takes a hit they can easily print more money, with BTC they cant.

Would any polatition want to take that option away from themselves?

I find it more likely that bitcoin/alts will spread from the ground up, virus-like, into many countries. Any official decisions to adopt it as national currency will be forced when it becomes too late to resist. IMO national acceptance needs to  happen when bitcoin/alts are much bigger and stronger and distributed than they are now, to avoid corrupting the purity of the system with politics and maintain bitcoin as a purely impartial exchange medium.

If I could state my opinion, it would be that a small independent country, or maybe a large micro nation would accept it. Because a full country adopting it would be nearly impossible considering the supply, unless you want to of course drive the price up. (And I definitely don't have a problem with that ;) )

No country will ever "adopt Bitcoin," A country is a government, and all governments are ultimately control freaks. At best some countries may be forced to tolerate Bitcoin semi-officially. Also, some countries may experiment with centralized and regulated forms of e-money (this is happening now).

What's to stop the people becoming the government? It could happen. People could stop using their officially issued money and fiat could become worthless

I think something like this. I can't see a existing country adopting it, but maybe a new micro nation or something similar. Maybe even some sort of state within a country. I'm not sure if it would be a good idea though just yet.

The first country will be... The Vatican.   :D

It's hard to speculate on this, though I'd side with others who think it probably wont happen, or at least not for a while. I think unless the volatility was sorted out it would be a too risky experiment, though it would be interesting to see the results.

Ha ha funny

Well they do like to launder their money so this might help them do so  ;D. Jesus loves bitcoins!

I guess it could happen in a parallel world, but it never happened in our world (besides primal societies of a few tens of people).

It is so bizarre that it would be funny if it was not tragic. Anyway, I am not at all surprised that this is just another marketing ploy from the statists: a firework war to justify a genocide.

I would give it less than 1 year for a country to not maybe use it fully but it will be wide acceptance and you will be able to use it in a lot if not most of their shops. It could kick off in some 3rd world country but for a country to adopt it that could be years and years if not never.

Fully adopting Bitcoin would partially raise the average citizen over the federal law by moving their wealth away from the federal supervision to the much more powerful nature law of the maths. (The laws of the maths are superior to any federal law because maths doesn't require anything to enforce.)

Loosing power by adopting Bitcoin would also disturb important commercial relationships with other countries and transnational alliances. Would a single country ever succeed to manufacture everything down from a computer chip up to very complex system in order to participate in the Bitcoin economy? I think, no. Then Bitcoin isn't the right choice.

That's why fully adopting Bitcoin in the economy would be a serious stupid move for any powerful people in any country.

define fully adopt? in the UK once the bank barriers are removed and legal framework drawn up BTC will be good to go. 

Fully adopt means that the currency used in day to day transactions between retailer and consumer is bitcoin.  Basically when people stop using their fiat currency completely.

i think it's already happening. iceland has their own cryptocurrency: auroracoin. http://motherboard.vice.com/blog/in-one-month-everyone-in-iceland-will-own-cryptocurrency

IIRC that is a one-sided agenda and their goverment is against it.

I wouldn't completely rule out Scotland, if:
1) they vote for independence
2) they can't use the GBP as they now do
3) they can't/won't change to EUR

Long shot, of course.

I don't think the non-adoption of Auroracoin is anything like a country adopting a crypto. Coinmarketcap tells me that the entire market cap of Auroracoin is << 300 BTC. Meanwhile, Finland's GDP is about $250Billiion USD. Nope.

No country will ever adopt BTC, but I could see a country starting their own crypto, where they have overall control and can fork whenever they need to.

would need to be a country with high internet usage and small population.

Not Israel, because there are traditional Jews that probably don't use internet, and all the war paranoia may make them decline to use an internet based currency

Maybe Andorra or Luxemburgo?

Iceland got the auroacoin via an airdrop that horribly failed. After the airdrop the price fell like a rock. This kind of rollout is almost certain to fail as anyone that gets something for nothing like this will have a big incentive to sell it for fiat instead of use it as a currency.