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

[tokeweed]

Pontinha is a tiny islet, about the size of a one-bedroom house, or smaller according to some visitors.
There are no shops on Pontinha, no commerce and no services. It is, more or less, a rock with a cave and a few ruins on it.

Pontinha is a micronation, not a country. A micronation is defined as a land mass that claims independence but isn’t recognized by any governing authority or state. What that means, is that Pontinha isn’t a nation at all, outside of the minds of the small population that claim citizenship to the island.

And just how small is that population? When Pontinha first grabbed media attention it claimed four citizens, none of whom lived on Pontinha full time. While that number may have increased recently, there are no indications that anyone “lives” in the micronation. Essentially, Bitcoin just became the “official currency” of a joke of a rogue nation state with a population between, depending on the time of day, zero and four people. (The article did mention that the population was four in 2014, but did not mention that none of the four people live there)

http://coinjournal.net/no-a-nation-did-not-just-adopt-bitcoin-as-its-national-currency/

[1714101770]

1714101770

[amiryaqot]

This is just beginning of the new era although it became the national currency of the world smallest country but this is really big news so this would be wonderful step for other countries to follow this and adopt this revolutionary next generation crypto currency soon we will hear more big news about its adoption from marketing giant.

[mad.enchantment]

Practically speaking it is actually impossible for a real country to adopt a no-physical currency system like BTC now, also how many countries accepted and announced that it's a country? is it a member of the un?. Countries would need to accept BTC as a foreign language only in these cases. Also the 2 posts above reply made me lose the slight interest I had, only 4 non-residing citizens?

[maxhor]

This sounds a little bit complicated to adopt no physical currency for any government because it required 100% internet access over the whole country with 100% knowledge how to use this for their daily use i think it will take more time to become more popular around globe.

[nichlahghe5]

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/

Doesn't matter to the real world. 4 citizens, Means no business to take bitcoin, no employees to pay in bitcoin. no bitcoin economy! This is a stupid story just to get some headlines.

[pedrog]

Pontinha is a tiny islet, about the size of a one-bedroom house, or smaller according to some visitors.
There are no shops on Pontinha, no commerce and no services. It is, more or less, a rock with a cave and a few ruins on it.

Pontinha is a micronation, not a country. A micronation is defined as a land mass that claims independence but isn’t recognized by any governing authority or state. What that means, is that Pontinha isn’t a nation at all, outside of the minds of the small population that claim citizenship to the island.

And just how small is that population? When Pontinha first grabbed media attention it claimed four citizens, none of whom lived on Pontinha full time. While that number may have increased recently, there are no indications that anyone “lives” in the micronation. Essentially, Bitcoin just became the “official currency” of a joke of a rogue nation state with a population between, depending on the time of day, zero and four people. (The article did mention that the population was four in 2014, but did not mention that none of the four people live there)

http://coinjournal.net/no-a-nation-did-not-just-adopt-bitcoin-as-its-national-currency/

This is a great article!

Not very common to encounter a reality based article in bitcoinsphere.

[Elwar]

Pontinha is a tiny islet, about the size of a one-bedroom house, or smaller according to some visitors.
There are no shops on Pontinha, no commerce and no services. It is, more or less, a rock with a cave and a few ruins on it.

Pontinha is a micronation, not a country. A micronation is defined as a land mass that claims independence but isn’t recognized by any governing authority or state. What that means, is that Pontinha isn’t a nation at all, outside of the minds of the small population that claim citizenship to the island.

And just how small is that population? When Pontinha first grabbed media attention it claimed four citizens, none of whom lived on Pontinha full time. While that number may have increased recently, there are no indications that anyone “lives” in the micronation. Essentially, Bitcoin just became the “official currency” of a joke of a rogue nation state with a population between, depending on the time of day, zero and four people. (The article did mention that the population was four in 2014, but did not mention that none of the four people live there)

http://coinjournal.net/no-a-nation-did-not-just-adopt-bitcoin-as-its-national-currency/

It's a micro...what?

[nichlahghe5]

Pontinha is a tiny islet, about the size of a one-bedroom house, or smaller according to some visitors.
There are no shops on Pontinha, no commerce and no services. It is, more or less, a rock with a cave and a few ruins on it.

Pontinha is a micronation, not a country. A micronation is defined as a land mass that claims independence but isn’t recognized by any governing authority or state. What that means, is that Pontinha isn’t a nation at all, outside of the minds of the small population that claim citizenship to the island.

And just how small is that population? When Pontinha first grabbed media attention it claimed four citizens, none of whom lived on Pontinha full time. While that number may have increased recently, there are no indications that anyone “lives” in the micronation. Essentially, Bitcoin just became the “official currency” of a joke of a rogue nation state with a population between, depending on the time of day, zero and four people. (The article did mention that the population was four in 2014, but did not mention that none of the four people live there)

http://coinjournal.net/no-a-nation-did-not-just-adopt-bitcoin-as-its-national-currency/

It's a micro...what?

That's what Im saying. How is 4 people a nation?

[rizkyhiw]

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/

so you are comparing US with small island off of Portugal? ah dont kidding,its can't be trusted news,nd really hard if you wish US will deal with bitcoin as near 2 years again.
and sometime i think ecuador will have many follower,i mean many more country banning bitcoin,anyway..use your bitcoin daily,and spread it to your town.

[QuestionAuthority]

Pontinha is a tiny islet, about the size of a one-bedroom house, or smaller according to some visitors.
There are no shops on Pontinha, no commerce and no services. It is, more or less, a rock with a cave and a few ruins on it.

Pontinha is a micronation, not a country. A micronation is defined as a land mass that claims independence but isn’t recognized by any governing authority or state. What that means, is that Pontinha isn’t a nation at all, outside of the minds of the small population that claim citizenship to the island.

And just how small is that population? When Pontinha first grabbed media attention it claimed four citizens, none of whom lived on Pontinha full time. While that number may have increased recently, there are no indications that anyone “lives” in the micronation. Essentially, Bitcoin just became the “official currency” of a joke of a rogue nation state with a population between, depending on the time of day, zero and four people. (The article did mention that the population was four in 2014, but did not mention that none of the four people live there)

http://coinjournal.net/no-a-nation-did-not-just-adopt-bitcoin-as-its-national-currency/

It's a micro...what?

That's what Im saying. How is 4 people a nation?

You want to know what the greatest nation in the world is?

The Do-nation     1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa   badum tish

Thank you, thank you - I'll be playing here all week. Tell your friends.

[5dollarbill]

this is complete crap! I'm Portuguese and that island is basically a joke... the guy thinks he's a king of that place, or something like that, lol!

They will find out who is the real king when they start to not pay the taxes anymore.  

BTW are they connected to the internet?!  

well, yeah, i think there's cellular there ...

size matter here, i guess

Maybe you're right, Bitcoin is decentralized and freedom, not a government will start them can not control the money
[/quote]

haha, this is not about government! those guys on that island are basically in charge of nothing

I guess I would rely with these because he is Portugese. He knows a lot better than us. If there are just few people there that is still not counted as a growth for bitcoin. Maybe worst could happen if they use it in different ways.

watching interviews from the guy who thinks he rules the palce is hialrious, he was on national TV once or twice, lol. actually a bit sad to see this related with BTC ...

Also no one actually lives there.

Here's a small video showing the "nation" insides:

https://www.youtube.com/watch?v=2cChgVc4FRA

And here's the king or prince:

lol hilarious haha, thanks for the amazing post pedrog

[ausbit]

Comon.. this is a joke.. Its a family of 4 people

Lol that sucks. I guess 4 citizens won't make much of a difference but it's a good place to start.
We need way more people to be aware and adapt to bitcoin for an actual change to happen.

Oh, really. if our bitcoins is recognized as a national currency then the time is not very far that the present bitcoins user will be the richest person at that time in future. if all the nation accept bitcoins same as dollars around the world. There will be demand and price rise of bitcoins.

[Palinanv]

It was always a national currency. At least in my heart.

[BellaBitBit]

Indeed great news.  Being declared a national currency is good for the reputation and you can bet that other countries will watch and see how it goes with Portugal and possibly follow suit.  It could have a cascade effect that moves quicker than we think.

[cjmoles]

I don't see how it matters if it is declared a currency by any governing body anywhere.  Bitcoin is a currency because WE say bitcoin is a currency.  It is not governed by any body, nor does any body have the power to control its value.  That is what makes bitcoin so special and empowering...it is a decentralized asset so we get to decide where we spend bitcoin, not any government or controlling agency anywhere.

[Gaswuwade]

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.

Not in the near or medium future. The Chinese currency will devalue a lot when foreign money fly out of it.

[EdenHazard]

This is good headline and good publicity. It may help btc's credibility.
BUT it is not enough. Btc needs much more recognize.

yes i'am agree with you,its not enough to make bitcoin become national currency,it took more than the recognition of the citizens and government, but also organizations that can regulate how bitcoin may actually be able to sustain the country's economy.

[Arcteryx]

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.

Not in the near or medium future. The Chinese currency will devalue a lot when foreign money fly out of it.

I can see that happening. They tried to ban it at some point but now they are revering it as super money and I am being to see that as true if it can be recognized as a national currency.

[expert4knowledge]

This is good headline and good publicity. It may help btc's credibility.
BUT it is not enough. Btc needs much more recognize.

yes i'am agree with you,its not enough to make bitcoin become national currency,it took more than the recognition of the citizens and government, but also organizations that can regulate how bitcoin may actually be able to sustain the country's economy.

I think bitcoin can be a potential danger for many of currencies, since governments do not have control over it.

[Altynbekova]

For me doesn't matter if bitcoin will be a national currency is just good that it can go so high to reach people know what it is.
Also the price is nice that it can grow.