So...bitcoin is now a national currency ("nation" of 4 people)

[flagpara]

This is... Rather amazing in fact.

I just wonder how it can be dealt with foreign exchanges, isn't it a bit hard to plan anything for a company if they use a currency so volatile?

Anyway I find it really cool that a government decided to do it. I'd like to see that in France, and the government could even go mining, with all our useless nuclear electricity 

[1715540859]

1715540859

[Timeline]

Finally a country adopts Bitcoin as it's national currency, only downside is that it's the smallest country in the world. 

[the_poet]

Finally a country adopts Bitcoin as it's national currency, only downside is that it's the smallest country in the world.  

It's the smallest country but Bitcoin has to start somewhere

[Bayuu]

Bitcoin is designed to be internationally used though.

[Luqman]

Sucks.. LOL
That place just a small country and live in by a family with 4 people, it was totally a joke I have ever seen ..

[countryfree]

I guess the most possible large country that will recognize bitcoin is Switzerland, their traditional secret banking service has been heavily affected by the US after 911, bitcoin could give them another opportunity

Ths Swiss love their Swiss Franc and they will keep it forever. They're very tolerant towards the use of other currencies though, and most shops in Geneva accept Euros. Some of them are also BTC-friendly. I remember there was a BTC ATM in Geneva a while ago, it's gone now, but the Swiww have always been at the forefront of financial innovation.

And I have explained in this post  https://bitcointalk.org/index.php?topic=1283729.msg13211430#msg13211430  it does not really matter if there is a country behind bitcoin, because anyway people will not use their precious bitcoin to exchange useless goods and services, they already have fiat money for that purpose. Bitcoin's main advantage is to store value and do international remittance, both resides in finance area. It has almost nothing to do with legacy economy, and is not affected by any legacy economy either

I'm not talking about value, I'm talking about image. I think BTC should stay totally international, without any link to any territory anywhere, but cyberspace.

[goinmerry]

I guess the most possible large country that will recognize bitcoin is Switzerland, their traditional secret banking service has been heavily affected by the US after 911, bitcoin could give them another opportunity

Ths Swiss love their Swiss Franc and they will keep it forever. They're very tolerant towards the use of other currencies though, and most shops in Geneva accept Euros. Some of them are also BTC-friendly. I remember there was a BTC ATM in Geneva a while ago, it's gone now, but the Swiww have always been at the forefront of financial innovation.

And I have explained in this post  https://bitcointalk.org/index.php?topic=1283729.msg13211430#msg13211430  it does not really matter if there is a country behind bitcoin, because anyway people will not use their precious bitcoin to exchange useless goods and services, they already have fiat money for that purpose. Bitcoin's main advantage is to store value and do international remittance, both resides in finance area. It has almost nothing to do with legacy economy, and is not affected by any legacy economy either

I'm not talking about value, I'm talking about image. I think BTC should stay totally international, without any link to any territory anywhere, but cyberspace.

I thought of that too sometimes. What if bitcoin was so popular. Many people will try different things to make it more bad. Just like how people try to fake real money. Those can be the risks when bitcoin booms all over.

[Betwrong]

Although there are only 4 people in the "country" I think this is a big step for Bitcoin. And also this is a very smart move from their side too (I mean the Government of the nation ) From now on they will be in the history of Bitcoin forever.

[mtnsaa]

This is more of a novelty news I guess but I recently created a thread about Argentina's new president relationship with Bitcoin, so this is all great news that governments of the world are taking into consideration these new technologies and acknowledging their benefits even if they are not massively adopted yet.

[helloeverybody]

When i first read this thread i thought we had some kind of major adoption. Not quite 

[traderbit]

Bitcoin is designed to be internationally used though.

Bitcoin is designed to be used by everyone world wide but this case seems interesting.
How can people now deal in that country or how the payment and bills are processed?
This is a great news for us but i think that there is still some space to be improved.

[fravia]

so it is starting as far as i can see... its only a question of time when other countries will start making bitcoins as their national currency this will mean the bitcoin price will start booming to the sky and that i will start making money of my investments

[Beliathon]

So this small island off of Portugal, Principality of the Pontinha, has been a sovereign nation by royal decree since the 1400s. It has been handed down and changed hands a few times. The current leader has decreed that bitcoin is the nation's official currency.

This could literally kick off a lot of things. Bitcoin would officially become a foreign currency for all nations.

Equador, which is the only country to actually pass a law banning Bitcoin (which the law only banned Bitcoin from running on its banking network) had a stipulation that it would be recognized if it became a national currency. So by passing such a law...they may have potentially forced themselves to recognize bitcoin as an official currency.

I wonder how US will deal with considering Bitcoin a commodity when it is officially a foreign currency as well.


http://www.newsbtc.com/2015/12/13/bitcoin-atlantis-currency/

Hope this helps

http://www.odditycentral.com/news/portuguese-man-buys-tiny-island-successfully-establishes-his-own-kingdom.html

[quentincole32]

So this small island off of Portugal, Principality of the Pontinha, has been a sovereign nation by royal decree since the 1400s. It has been handed down and changed hands a few times. The current leader has decreed that bitcoin is the nation's official currency.

This could literally kick off a lot of things. Bitcoin would officially become a foreign currency for all nations.

Equador, which is the only country to actually pass a law banning Bitcoin (which the law only banned Bitcoin from running on its banking network) had a stipulation that it would be recognized if it became a national currency. So by passing such a law...they may have potentially forced themselves to recognize bitcoin as an official currency.

I wonder how US will deal with considering Bitcoin a commodity when it is officially a foreign currency as well.


http://www.newsbtc.com/2015/12/13/bitcoin-atlantis-currency/

The website "www.newsbtc.com" does not exist or is currently not reachable.
Here is a google-powered list of suggestions.
oh i hate that,are sure that information can be trusted?i dont think you are spammer,but i found that when i open your link

[Kevin77]

good news are coming at the end of this year about bitcoin

I guess you mean that the new high price for bitcoin. Due to up coming halving, there are lot of chances for that to break the previous higher price of $502 of this year. I do always check for news on bitcoin ecosystem on google news search.

[bitgolden]

good news are coming at the end of this year about bitcoin

I guess you mean that the new high price for bitcoin. Due to up coming halving, there are lot of chances for that to break the previous higher price of $502 of this year. I do always check for news on bitcoin ecosystem on google news search.

Like many people here, for me too higher price of bitcoin is the good news, always expecting eagerly. But the real trigger of higher price must be adoption of bitcoin by any market giants. That will eventually get the good news, we are always awaiting for.

[tokeweed]

You're just a senile character from a movie.

[tokeweed]

This is awesome news, is this the reason why bitcoin price has been increased a bit these days?

Good lord, ROFL

A pretty fair portion of our bitcoin community is so fucking dumb - it hurts.  I am starting to think something like 90% are complete imbeciles

Either that or in their very early teens.

Or maybe senile...?

[n2004al]

So this small island off of Portugal, Principality of the Pontinha, has been a sovereign nation by royal decree since the 1400s. It has been handed down and changed hands a few times. The current leader has decreed that bitcoin is the nation's official currency.

This could literally kick off a lot of things. Bitcoin would officially become a foreign currency for all nations.

Equador, which is the only country to actually pass a law banning Bitcoin (which the law only banned Bitcoin from running on its banking network) had a stipulation that it would be recognized if it became a national currency. So by passing such a law...they may have potentially forced themselves to recognize bitcoin as an official currency.

I wonder how US will deal with considering Bitcoin a commodity when it is officially a foreign currency as well.


http://www.newsbtc.com/2015/12/13/bitcoin-atlantis-currency/

Good to hear that bitcoin is a national currency of an country (that to tell the right, is the firs time that I hear its name). I cannot understand how will be able the govern of that country to manage the monetary policy and what will use the people of that country to buy the bread of every day, but if choosen mean that the responsible people who has made this has thought for everything. Anyhow I am curious to know how will continue this story. I am curious even to learn when will find them the needed bitcoin to maintain their administration. Which needed continuously. Without end.

I haven't found any data about this "country" in internet and cannot tell more. But seems something that make me smile. It is the the possible impact that will have such choice in the entire world according to the main poster. But really think him that a "country" about which don't exist any kind of data in internet will be able to have such impact in the world (including United States) as mentioned in its post?

Beh, I want that bitcoin be important but not ridiculous. Such choices may be good ones, but important only for them who made them. Pretend that a "country" with 5 or 6 people (like could be with to much probability this kind of country) have impact in the entire world (including United States) is a pure fiction. This "country" could have the same impact in the world like Liberland which has chosen before the above mentioned, bitcoin as a national currency (to tell the right I am not founding more news about this fact but I have read it when this country has declared the self-independence) and has only 1 person as inhabitant who is everything in that country.

I think that we must be more serious. United States are "banning" states like Russia with their international monetary policies and must accept bitcoin as a foreign currency only because a family or two (or even more) have decided to declare it as a "national" "personal" currency of themselves? Cannot comment more.

[Bayuu]

This is great news to all the bitcoiners as I believe this will promote another price rise.

Would like to see China adopt BTC as their informal currency though.