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greeklogos (OP)
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January 21, 2017, 06:15:22 PM |
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Is it possible at all to think in this direction (to have an island where the only legal currency is bitcoin), and if consider it real, how to measure progress made by accepting new 'system'?  |
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SparkedDev
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January 21, 2017, 09:01:35 PM |
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Dubai has been big on btc for a while now and they basically making islands everywhere.
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davis196
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January 22, 2017, 07:19:12 AM |
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Is it possible at all to think in this direction (to have an island where the only legal currency is bitcoin), and if consider it real, how to measure progress made by accepting new 'system'? What island?Some island without population or with 1000 people. Bitcoin is a global currency,it`s pointless to make "countries" where btc is the only currency. It`s not about territory,it`s about the number of people who will use bitcoin. |
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Hydrogen
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January 22, 2017, 09:49:09 AM |
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There are small towns and communities that use their own alt coin as currency.
Aurora coin in iceland could be one example.
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buwaytress
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January 22, 2017, 06:07:11 PM |
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There's an island in the inter webs, where people talk only about crypto and trade goods and services mainly in crypto (although there is a persistence of digital fiat or even the more horrific selling and buying of bitcoin using fiat).
It's called bitcointalk =).
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LTU_btc
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January 22, 2017, 10:30:51 PM |
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Theorical possible. If you a millionaire, you can buy small island somewhere in Canada or Pacific Ocean. But these islands still will belongs to country from which you purchased island, so you have to follow laws of this country. And these islands mainly doesn't fits for a living.
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TheBobyHunter
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January 22, 2017, 11:20:59 PM |
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several country bitcoin is ready regulation
sample in japan, in exchanger japan, every transaction use pair bitcoin/yen, charge tax fee
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BuySomeBitcoins
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January 22, 2017, 11:38:28 PM |
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several country bitcoin is ready regulation
sample in japan, in exchanger japan, every transaction use pair bitcoin/yen, charge tax fee
In case you do not know, regulation can be positive for the Bitcoin ecosystem. |
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European Central Bank
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January 22, 2017, 11:52:56 PM |
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considering what the fees are like these days it would be an awfully expensive place to live.
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darkangel11
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January 23, 2017, 02:39:28 AM |
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considering what the fees are like these days it would be an awfully expensive place to live.
You can do joint payments, like you do when paying for holidays abroad. The price of your plane ticket + hotel all inclusive is paid in a single transaction. Anyway, when you are able to afford $500 for a flight to visit a remote island you shouldn't be worried about fees . |
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rchstr
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January 23, 2017, 03:01:14 AM |
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it can be possible. bitcoin can always be make official by any locals where they just use it for buying and sellings goods. bitcoin is more accessible so it is not theoretically impossible if one island makes it as their official fiat, and bitcoin is not easy to buy. you can convert your fiat into bitcoin easily. so making bitcoin as a official currency is not impossible.
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pixie85
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January 23, 2017, 03:52:04 AM |
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it can be possible. bitcoin can always be make official by any locals where they just use it for buying and sellings goods. bitcoin is more accessible so it is not theoretically impossible if one island makes it as their official fiat, and bitcoin is not easy to buy. you can convert your fiat into bitcoin easily. so making bitcoin as a official currency is not impossible.
Yes, it is possible, but requires a lot of effort and support from community. Would you be willing to pay in Bitcoin to live in that country? Would you have enough Bitcoin to do it? If not then maybe other people are thinking like you and the idea will remain just an idea. |
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Sithara007
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January 23, 2017, 04:49:27 AM |
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The self-proclaimed president of Liberland, Vít Jedlička was recently deported by Croatia. Right now no one lives there, and the Croatian and Serbian authorities have forbidden entry in to this area. |
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sportis
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January 23, 2017, 05:05:01 PM |
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considering what the fees are like these days it would be an awfully expensive place to live.
I agree with your opinion that transaction fees make the everyday micro payments with bitcoin almost prohibitive. Maybe things in the future would be more better if lightning networks would be settled with very fast payments (milliseconds to seconds) and low cost where fees are proportional to amount someone would spent |
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