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Author Topic: I've got a suggestion to make BTC unquestionablly legal. not sure new or not.  (Read 2781 times)
qikaifu
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God creats math and math creats bitcoin.


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June 02, 2011, 04:01:37 PM
 #1

Suppose that:
1) The early adopters must have a bunch of BTC in hand.
2) The others with BTC in hand is willingly to donate.

Then:
1) when the BTC/USD exchange went high up, sell some of the BTC. That must be a large amount of USD.
2) With the USD, buy a piece of land in the Africa, or a small island in the Pacific Ocean
3) Co-work with a group of lawyers and diplomatists, make this island as a new nation.
4) Declare to the world, that the BTC is the Legal tender of this nation.



P.S

My mother tongue is not English, and thanks EFF a lot, from which I learnt the phrase "Legal tender".

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Terpie
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June 02, 2011, 04:07:08 PM
 #2

You'd have to offer a government a premium, on top of the price of the land, for them to concede sovereignty. That or just defend it with guns. Even then, there is no guarantee that other countries will recognize your sovereignty. The cost for something like this could only start to become justifiable if USD/BTC was in the high 3 digit range or 4 digit range.
qikaifu
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June 02, 2011, 04:16:21 PM
 #3

The cost for something like this could only start to become justifiable if USD/BTC was in the high 3 digit range or 4 digit range.

It's possible. If 1BTC=1000 USD, it's only 10 billion worth of economy. it's just as large as the market cap. of a middle sized list company on the NASDAQ. it's not that difficult with the more and more recognition from all over the world.


And you guys and all the Bitcoiners must decide a three-letter currency code representing 1e-3 bitcoins, before the "UTC= 1e-6 bitcoins" is actually meaningful in daily use of Bitcoin.


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Dansker
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Hello world!


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June 02, 2011, 04:22:34 PM
 #4

Countries only become countries if other countries accept them as countries.

No other countries will accept your "country" as a country.

qikaifu
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June 02, 2011, 04:23:10 PM
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. Even then, there is no guarantee that other countries will recognize your sovereignty.

And there is nothing impossible, too. When we try, they will start to admit it sooner or later, as other new nations emerged in the world map after the world war II.

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qikaifu
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June 02, 2011, 04:24:01 PM
 #6

Countries only become countries if other countries accept them as countries.

No other countries will accept your "country" as a country.

That's why diplomatists are needed.

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eturnerx
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June 02, 2011, 04:24:18 PM
 #7

Why not get an existing country whose currency has collapsed to change to BTC as the national currency. They could use bitbills for cash and might likely do it for a few free billion USD worth of BTC.

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qikaifu
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June 02, 2011, 04:34:15 PM
 #8

And I can represent part of the people from the Wall Street.
Some of them are eager to do business about BTC, such as structure financial engineering products link to BTC, underwrite stocks and bonds in BTC, trade BTC as a legal commodity or Forex, they want to long BTC and short it, too, and they can write a bunch of bull shit of research reports about the exchange rate and the future of the BTC to the public... It's all in their future interest.


And other nations want to embraces the wealth represented by the BTC. Yes, actually it's in the best interest for all the governments as a whole to kill BTC together,however, they are in a situation of the Prisoner's Dilemma. There just need only one of them, and there definitely will be one, cannot resist the huge benefit, who make BTC a legal Foreign currency  in their bank system and law system, which bring a lot of BTC deposit into their country. Of course they can find a way to tax BTC transactions, at least part of them.

Then ,one by one, the BTC will be legal.

BTC won't be able to take down the current money system, but can be part of it. It can be trillions USD worth.

----------------------
my BTC address is: 1CZNb9PuKQ6veoRhbMB292Wog3gZWS1e4L

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bitcool
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June 02, 2011, 04:49:27 PM
 #9

How to start your own country: http://www.wikihow.com/Start-Your-Own-Country

The Aerican flag give us a clue of what Bitconia flag should look like ...
mcqueenorama
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June 06, 2011, 10:42:48 PM
 #10

There are a bunch of folks working on this problem right now:

http://www.seasteading.org/

The sea is the next frontier.  Floating cities - its the only way to find some free land of your own nowadays. 

Freakin
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June 06, 2011, 11:00:46 PM
 #11

Someone should put in a bid for Sealand.  I think the Pirate Party has given up on that dream
Lynzoi
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June 06, 2011, 11:20:20 PM
 #12

Eh... I think we would have a better chance of making Bitcoin legal in one of the preexisting states. Such as New Hampshire, they've already got plenty of libertarians. There are some legal currencies in the US other than the dollar, for example the Berkshires has this stupid thing called a "berk share" that you can use to buy stuff.

There's also Freetown Christiana, an anarchist town somewhere in Denmark. Actually Denmark just claimed the North pole, and I really I doubt they would be agressive enough to kick out anyone who started living up there. We wouldn't have to worry about heat, we've got mining rigs.

1HX4zSn3yQpVH3v9Sv5TNwMqbfXoBbMuNf
k
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June 06, 2011, 11:26:29 PM
 #13

i may have seen this somewhere else on this forum or perhaps it was somewhere else, can't remember.

http://en.wikipedia.org/wiki/Republic_of_Minerva

Quote
The Republic of Minerva was one of the few modern attempts at creating a sovereign micronation on the reclaimed land of an artificial island in 1972. The architect was Las Vegas real estate millionaire and political activist Michael Oliver, who went on to other similar attempts in the following decade. ...........
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June 06, 2011, 11:42:30 PM
 #14

Why buy an island and declare sovereignty when you can try to convince an existing island nation to make BTC their currency?

It could have tremendous financial advantages for that nation... and as we all know many island nations do appreciate that.

Grant
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June 06, 2011, 11:51:30 PM
 #15

Why do you need physical-land, if i may ask ?

It's a lot easier (and cheaper) to form a country on international waters.

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June 07, 2011, 12:25:27 AM
 #16

Maybe the Lunar Embassy would be interested in making bitcoins the official currency of the moon or another astral body?  I see they're already taking preregistration orders for extraterrestrial domain extensions like .moon .mars and .saturn . Smiley
Bazil
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June 07, 2011, 12:28:09 AM
 #17


2) With the USD, buy a piece of land in the Africa, or a small island in the Pacific Ocean



I think i'd avoid Africa unless I also bought lots of security for my new country.

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billyjoeallen
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June 07, 2011, 12:37:52 AM
 #18

There are a bunch of folks working on this problem right now:

http://www.seasteading.org/

The sea is the next frontier.  Floating cities - its the only way to find some free land of your own nowadays. 


This is Friedman's grandson's hair-brained idea. You have a problem: submarines. As soon as your floating libertopia started to grow viable, stories would appear in the press about how The Seastead laundered money for terrorists and druglords, suduced young American daughters into legal prostitution, threatened the social fabric due to enabling tax cheats, and stole market share from respectable casinos.  They would f*cking sink you. Sink you dead. A Mark 48 torpedo up your stern.

insert coin here:
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc

Open an exchange account at CampBX: options, lowest commissions, and best security
https://campbx.com/register.php?r=0Y7YxohTV0B
Lupus_Yonderboy
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June 07, 2011, 12:45:56 AM
 #19

Simple...build Rapture  Grin
Ulysses
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June 07, 2011, 01:16:37 AM
 #20

Can we buy a small UN recognized country in Oceania? E.g. Nauru have population of ~10000. If you hand $1 000 000 to each citizen, will them agree to turn their country into libertarian Bitland? Smiley
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