1st nation to adopt Bitcoin will become wealthiest

[SimplisticStu]

And the us Government would be the first country to ban it, manipulate the price and start a war against that country... Saddam and Gaddafi died because they were going to trade oil with gold instead of the us dollar.

I believe Saddam wanted to switch to Euro, actually. But yeah. Don't fuck with the petrodollar.

Agreed, this is probably one of the main obstacles, US Gov have ways and means of stopping ANYTHING they do not agree with.

[NotLambchop]

...
Agreed, this is probably one of the main obstacles, US Gov have ways and means of stopping ANYTHING they do not agree with.

[SimplisticStu]

Eyes on the prize!!

[BitCoinNutJob]

If a nation would buy 1% of total Bitcoin ever available (210k) at current prices (50M USD) and announce that this is their official currency, they would become world's wealthiest nation almost overnight.

haha i like the idea OP, seems like bitcoin would be perfect for this.  Perhaps a smaller country would be interested to suddenly tripple their wealth.

[jjacob]

If a nation would buy 1% of total Bitcoin ever available (210k) at current prices (50M USD) and announce that this is their official currency, they would become world's wealthiest nation almost overnight.

Why do you think of a nation?
1% could be bought by a person. 

[HarmonLi]

I always thought it would be a highly interesting thing for a country to buy BTC as a reserve... It could really turn out to be profitable, especially for countries in a financial crisis or for countries that don't have a big GNP...

[uki]

I always thought it would be a highly interesting thing for a country to buy BTC as a reserve... It could really turn out to be profitable, especially for countries in a financial crisis or for countries that don't have a big GNP...

Usually countries keep their reserves in assets that are neither risky nor very volatile. The main rationale being to preserve the value of what they have and not to speculate with that. So Bitcoin by definition is not a good candidate at all.

[FUR11]

Right now they could still have a very good chance to buy a remarkable size of all coins ever available, which could bring them one day into a position like all the oil exporting countries who profit massively from the natural resources they literally sit on!

[uki]

Right now they could still have a very good chance to buy a remarkable size of all coins ever available, which could bring them one day into a position like all the oil exporting countries who profit massively from the natural resources they literally sit on!

In theory yes, in practice they won't be even allowed to consider such option due to high risk and volatility associated to Bitcoin.

[Ibian]

Right now they could still have a very good chance to buy a remarkable size of all coins ever available, which could bring them one day into a position like all the oil exporting countries who profit massively from the natural resources they literally sit on!

In theory yes, in practice they won't be even allowed to consider such option due to high risk and volatility associated to Bitcoin.

Right, but allowed by who? I agree that nobody will actually do it, even if it is an intelligent gamble, but who are these masters you speak of?

[hashman]

The first headline we read about a nation adopting Bitcoin will be in the context of the PEOPLE adopting it, not the government.

Thank you thezerg.  Somebody gets it at least  

[countryfree]

One nation's adopting BTC would kill it. It may be BTC's greatest strength that it's independent from all countries and governments.

[uki]

Right now they could still have a very good chance to buy a remarkable size of all coins ever available, which could bring them one day into a position like all the oil exporting countries who profit massively from the natural resources they literally sit on!

In theory yes, in practice they won't be even allowed to consider such option due to high risk and volatility associated to Bitcoin.

Right, but allowed by who? I agree that nobody will actually do it, even if it is an intelligent gamble, but who are these masters you speak of?

Central banks of each respective country.

[manis]

No one going to adopt bitcoin because botcoin is not a stable currency and a limited currency as we all know its going to end in cuple of years.

And yet you flock to these forums to collect bitcoins?