Antigua & Barbuda ready to accept Bitcoin

[mynhpark]

Antigua & Barbuda might go “full bitcoin” and accept the digital currency for government services.

The Cabinet of Antigua & Barbuda instructed the Attorney General, to draft news laws for the possible implementation of Bitcoin throughout the various level of government on the twin island nation, which include numerous smaller islands in the caribbean.

The move comes after the Cabinet met with an Antigua Leisure & Gaming Association on Wednesday, to discuss the benefits of using Bitcoin on Antigua. The Cabinet, apparently seeing an opportunity to put Antigua ahead of the curve on this new technology, made the move.

Antigua hosted the Information and Communication Technology (ICT) Week and Symposium where Prime Minister Gaston Browne delivered the feature address at the opening ceremony. The 15th Caribbean Ministerial Strategic ICT Seminar focussed on ICT in  financial services, and explored, among other things, the use of cryptocurrencies towards innovation in the region’s ICT development.

Do you think this is good for the caribbean region?

[ASHLIUSZ]

That's a good news for all the bitcoin users. This time one more country getting added to the list of countries that legally accept bitcoin within their own country for all sorts of services will encourage more such small Countries to initiate plans of going full on bitcoin.

[HabBear]

Sir, I've started a similar thread a few days back. Here's the link >>> https://bitcointalk.org/index.php?topic=1893330.msg18806616#msg18806616

Consider the responses in this linked, original thread in the discussion that ensues in the thread here.

I don't think it's good for Bitcoin at all. If these small, obscure island nations claim Bitcoin as their currency we risk the general public (incorrectly) perceiving Bitcoin as a currency for these nations rather than the world. Further, the reason these islands want the currency is because (as they state) they're gambling nations. Do we really want the mainstream folks thinking bitcoin is the "gambling currency"...like you only find it or use it in Monte Carlo, Macau, or Vegas? No.

[Sithara007]

If I am not wrong, the island nation of Dominica (also located in the Caribbean region) was accepting Bitcoin for some of the government services in 2014 and 2015. But they stopped this recently. I just hope that the Antiguan government will continue accepting BTC in the long term.

[Daniel91]

If I am not wrong, the island nation of Dominica (also located in the Caribbean region) was accepting Bitcoin for some of the government services in 2014 and 2015. But they stopped this recently. I just hope that the Antiguan government will continue accepting BTC in the long term.

It's bad news.
Do you know why they stopped using bitcoin?
I hope it didn't happen because of some external pressure, from American government or world financial institutions.
In such case, there is no hope that any country in the world will accept bitcoin in the near future.
We have to understand that big financial interests are in question and that no one from the financial mainstream wants bitcoin because they can't control it.

[panju1]

For these governments, it will be just another payment mechanism. They will look to convert these coins immediately to fiat (or even dollars, to shore up their foreign currency reserves).

[Alfa123]

This is good news for everyone. With the increase in the number of users, the system will begin to develop and the bitcoin rate will increase.

[JanpriX]

Adaptation of BTC by any country is always welcome and will always produce positive price movement for it. We don't know their reason why they do this but I couldn't ask for more from them. People there will be acquainted to BTC increasing its user base. This move is always a good move in my book.

[iram3130]

If am not wrong, Antigua able Barbuda is a gambling kind of country, it's more famous for tourist gambling than other things. It's not good for the image of Bitcoin, already Kya if people thinking it as a negative currency, only used for terrorism or gambling and on that news like this will discourage them more.

[BillyBobZorton]

I think all those tax havens in paradisean islands are great places for whales to retire to. All those places will eventually become 100% bitcoin and whales will just go there, and live there expending bitcoins directly without having to pay any taxes. Probably Switzerland will also become a bitcoin haven where people can go there and pay everything the want with bitcoin and pay 0 taxes. Hopefully when in 10 years BTC is worth $100,000+ I can join the party.

[TravelMug]

If am not wrong, Antigua able Barbuda is a gambling kind of country, it's more famous for tourist gambling than other things. It's not good for the image of Bitcoin, already Kya if people thinking it as a negative currency, only used for terrorism or gambling and on that news like this will discourage them more.

Yeah. A&B are one of the first country who has legalized land based and online gambling. So it only make sense for this tiny island to accept bitcoin. Although this has little impact to bitcoin, news like this bring encouragement for other nation (small or big) as well to embrace bitcoin.