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Author Topic: country that massively adopted bitcoins?  (Read 1654 times)
vokain
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April 09, 2013, 05:54:17 PM
 #1

I read a post earlier today that a smallish country was using bitcoin and it was rapidly becoming their universal trade medium. anyone have that post?

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Deslock Darkstar
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April 09, 2013, 07:48:08 PM
 #2

Are you talking about Cyprus? Many people there turned to Bitcoin when the banks were closed for almost 2 weeks. There were many articles on that... Google "Cyprus" and "bitcoin" and see what all comes up in the results.

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pretendo
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April 09, 2013, 11:59:42 PM
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Are you talking about Cyprus? Many people there turned to Bitcoin when the banks were closed for almost 2 weeks. There were many articles on that... Google "Cyprus" and "bitcoin" and see what all comes up in the results.
I don't believe this actually occurred

My attempt at adding to the bitcoin-using marketplace: https://bitcointalk.org/index.php?topic=171843.0
Like online video games? Check it out! I'm selling at a big discount
nobbynobbynoob
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April 10, 2013, 12:00:42 AM
 #4

I read a post earlier today that a smallish country was using bitcoin and it was rapidly becoming their universal trade medium. anyone have that post?

It's quite popular in Finland already.

I gather the impression increasing numbers of Finns are (sensibly) fed up of the EUSSR and its euble funny money.

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pretendo
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April 10, 2013, 12:41:50 AM
 #5

I read a post earlier today that a smallish country was using bitcoin and it was rapidly becoming their universal trade medium. anyone have that post?

It's quite popular in Finland already.

I gather the impression increasing numbers of Finns are (sensibly) fed up of the EUSSR and its euble funny money.
Do a lot of bars etc take them? Because if I recall correctly, a few bars in Manhattan take them.

My attempt at adding to the bitcoin-using marketplace: https://bitcointalk.org/index.php?topic=171843.0
Like online video games? Check it out! I'm selling at a big discount
nobbynobbynoob
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April 10, 2013, 12:43:43 AM
 #6

I read a post earlier today that a smallish country was using bitcoin and it was rapidly becoming their universal trade medium. anyone have that post?

It's quite popular in Finland already.

I gather the impression increasing numbers of Finns are (sensibly) fed up of the EUSSR and its euble funny money.
Do a lot of bars etc take them? Because if I recall correctly, a few bars in Manhattan take them.

I heard that at least 400 Finnish businesses accept bitcoin, and that was months ago. The chairwoman of the (puppet) Finnish central bank (since only the ECB has ultimate printing rights over eubles, AIUI) stated that using bitcoin is perfectly legal in Finland since there is no law against it.

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April 10, 2013, 07:33:58 AM
 #7

Once China pops and drags all currencies down with it, watch how fast people scramble to save themselves financially then. Cyprus figured that out, and the rest of the world will too soon I think. BTC is rising by the simple fact that tons of new foreign currencies are being dumped into BTC rapidly right now out of fear of big banking, as they can apparently just steal your life savings legally now.

This is only the start of what could be the most insane year in the history of the modern world.

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April 10, 2013, 09:32:22 AM
 #8

Once China pops and drags all currencies down with it, watch how fast people scramble to save themselves financially then. Cyprus figured that out, and the rest of the world will too soon I think. BTC is rising by the simple fact that tons of new foreign currencies are being dumped into BTC rapidly right now out of fear of big banking, as they can apparently just steal your life savings legally now.

This is only the start of what could be the most insane year in the history of the modern world.

I like bitcoin because it's the best idea of any kind I've seen in my 50+ years on earth.  Bar none.

And I use it because it makes sense: politically, economically, ethically, environmentally.

And I save it because that also makes sense.  Obviously.

But man; I've seen some shit in my time - and that whole "...most insane year in the history of the modern world." thing?  Well, that has some attraction as well.  Off with their goddamn heads.

Dankedan: price seems low, time to sell I think...
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April 10, 2013, 12:19:05 PM
 #9

Once China pops and drags all currencies down with it, watch how fast people scramble to save themselves financially then. Cyprus figured that out, and the rest of the world will too soon I think. BTC is rising by the simple fact that tons of new foreign currencies are being dumped into BTC rapidly right now out of fear of big banking, as they can apparently just steal your life savings legally now.

This is only the start of what could be the most insane year in the history of the modern world.

I like bitcoin because it's the best idea of any kind I've seen in my 50+ years on earth.  Bar none.

And I use it because it makes sense: politically, economically, ethically, environmentally.

And I save it because that also makes sense.  Obviously.

But man; I've seen some shit in my time - and that whole "...most insane year in the history of the modern world." thing?  Well, that has some attraction as well.  Off with their goddamn heads.

Universal Armageddon aside, Bitcoin is most certainly a revelation on how money works using a vast computer network to ride on top of, rebuilt from the ground up for our world today. At the core I simply find it fascinating.

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April 10, 2013, 03:03:12 PM
 #10

Once China pops and drags all currencies down with it, watch how fast people scramble to save themselves financially then. Cyprus figured that out, and the rest of the world will too soon I think. BTC is rising by the simple fact that tons of new foreign currencies are being dumped into BTC rapidly right now out of fear of big banking, as they can apparently just steal your life savings legally now.

This is only the start of what could be the most insane year in the history of the modern world.

I like bitcoin because it's the best idea of any kind I've seen in my 50+ years on earth.  Bar none.

And I use it because it makes sense: politically, economically, ethically, environmentally.

And I save it because that also makes sense.  Obviously.

But man; I've seen some shit in my time - and that whole "...most insane year in the history of the modern world." thing?  Well, that has some attraction as well.  Off with their goddamn heads.
THIS
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April 11, 2013, 09:43:20 AM
 #11


Not that it matters, but I have been scratching around on this rock for a half-century, as well.  I am a veteran of the moneypunk revolution in the 1990s, and I teach university-level Finance today.


Not quite at a half century myself, but 44 is close enough... glad to see there are some old-heads around here.

I'm intrigued by your mention of the "moneypunk revolution in the 1990s". I must have missed that one... I've never heard of it. Neither has Google... I got a whole lot of nothing when I searched for that phrase. Can you fill me in on some details?

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April 11, 2013, 10:41:01 AM
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As delightful as the runup in Bitcoin's price is, I am much more fascinated by the ability to sign contracts with Bitcoin keys.  Granted, this has always been possible with PGP/GPG, but blockchain and distributed payment feature make bitcoin-qt the basis of an entire financial system.


That is a good thing - but we all have our 'AH-HAH!' moments.

For me - with what might be considered an unusual life-history - the moment was understanding that bitcoin is absolutely unstoppable by national borders.  I saw that instantly, in my first exposure to it in Q1 2011.  I had miners up and running within the week.

It may not be particularly anonymous, or (given a certain lack of stability at the moment) usable as a pure currency - and overcoming these and other obstacles will probably result in the promise of low fees being put off for awhile; if not forever.

But that one thing:  transfer across borders without any possibility of interdiction... that's really all that's needed for a major change in the way the world works.

Dankedan: price seems low, time to sell I think...
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