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Author Topic: Paying a Small Country to Make Bitcoin an ADITIONAL Official Currency  (Read 21475 times)
phelix (OP)
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April 23, 2013, 01:05:29 PM
Last edit: June 30, 2014, 08:00:07 AM by phelix
 #1

...to improve legal status world wide.

http://geography.about.com/cs/countries/a/smallcountries.htm

There are recognized countries that have only 13,000 - 50,000 citizens. Imagine we can gather 1BTC from each of 100,000 Bitcoin believers. That would be quite some money for a small country that does not happen to be tax haven.

In Germany Bitcoin is already treated like a foreign currency but it might still make things more certain. Also there might be benefits from such an action for the status of Bitcoin in other countries. It would sure make it more difficult to ban.

What do you say?


edited for brevity/clarity

edit: The main purpose of this project would be to make Bitcoin an official currency so that there is a higher legal certainty in OTHER countries. Also it might be more difficult to prohibit a foreign currency.
It is not necessary that anybody in the small country actually uses Bitcoin.

edit2: This has nothing to do with anybody inside or outside the country actually using Bitcoin for anything. Of course the country would simply use their legacy money for everything just like before. But they could announce for example they would accept Bitcoin for paying taxes but it costs an extremely high fee.
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Endgame
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April 23, 2013, 01:24:06 PM
 #2

To begin with I think we should aim to get some very small nations on board, such as Sealand. This could actually be a perfect fit because it saves these nations the expense of creating their own micro currency.
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April 23, 2013, 01:26:34 PM
 #3

Not a bad idea.  If you truly believe then you should do some more research to get the plan going.
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April 23, 2013, 02:50:58 PM
 #4

What do you say?

What about creating our own country?
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April 23, 2013, 03:01:15 PM
 #5

What do you say?

What about creating our own country?

That's going to be a lot harder than getting a small country to switch to bitcoin.
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April 23, 2013, 03:06:42 PM
 #6

What do you say?

What about creating our own country?

That's going to be a lot harder than getting a small country to switch to bitcoin.

We could try - http://www.wikihow.com/Start-Your-Own-Country
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April 23, 2013, 03:21:43 PM
 #7

Would the process of creating a country that uses bitcoin not create partial centralisation?

Would it not perhaps be better to simply have bitcoin recognised as a currency in its own right by institution like the EU and the US?

This could also help set a president for other emerging distributed economies and societies.
phelix (OP)
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April 23, 2013, 03:33:30 PM
 #8

Would the process of creating a country that uses bitcoin not create partial centralisation?

Would it not perhaps be better to simply have bitcoin recognised as a currency in its own right by institution like the EU and the US?

[...]
The first should help the second.

It's quite difficult to get your own country recognized by other countries - just look at Sealand. IMHO it would be easier to convince an existing country.
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April 23, 2013, 03:37:35 PM
 #9

Scotland?

for after their (possible 2014) divorce? Lots of chatter in the UK as to whether or not they could keep sterling, adopt the euro or start their own.
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April 23, 2013, 03:38:30 PM
 #10

Wouldn't that make regulation automatically much stricter in many countries?

I wouldn't be surprised if in many places the law concerning foreign currencies happens to be more draconian than the laws concerning virtual goods.
Take Argentina, for example. Wouldn't that automatically push Bitcoin into its capital control, making it impossible for TradeHill to even start its venture?

And despite that, I don't think we should be seeking "state recognition".
mikegogulski
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April 23, 2013, 03:55:40 PM
 #11

The true government of the political entity formerly known as the United States of America already accepts Bitcoin for tax payments:

http://norton13.us/decree-on-currency-and-taxation/

FREE ROSS ULBRICHT, allegedly one of the Dread Pirates Roberts of the Silk Road
phelix (OP)
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April 23, 2013, 04:18:23 PM
 #12

Wouldn't that make regulation automatically much stricter in many countries?

I wouldn't be surprised if in many places the law concerning foreign currencies happens to be more draconian than the laws concerning virtual goods.
Take Argentina, for example. Wouldn't that automatically push Bitcoin into its capital control, making it impossible for TradeHill to even start its venture?

And despite that, I don't think we should be seeking "state recognition".
Hmmm you have an argument there. Then let's keep it as an ace in our sleeves.  Grin
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April 23, 2013, 04:35:33 PM
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In Germany Bitcoin is already treated like a foreign currency

What the hell are you talking about and what absurd place in Germany is this?

I bet it's Berlin, what with all their crazyness and being totally broke and all that.
bit777
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April 23, 2013, 05:50:04 PM
 #14

If bitcoin becomes an official currency, the decentralized idea will disappear as with any country and currency there is a controlling institution over it.
Gordonium
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April 23, 2013, 06:03:43 PM
 #15

Great idea.
Gordonium
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April 23, 2013, 06:04:07 PM
 #16

What about creating our own country?

I'll drink to that!
mikegogulski
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April 23, 2013, 06:25:12 PM
 #17

What about creating our own country?

I'm a-drinkin' anyway, but as long as we must suffer with states, there should be as many of them as possible.

I'll drink to that!

FREE ROSS ULBRICHT, allegedly one of the Dread Pirates Roberts of the Silk Road
Gordonium
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April 23, 2013, 07:02:43 PM
 #18

What about creating our own country?

I'm a-drinkin' anyway, but as long as we must suffer with states, there should be as many of them as possible.

I'll drink to that!

Did you just put your post in to my quotes or am I so drunk that I do not remeber what I have posted? Cheesy
mikegogulski
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April 23, 2013, 07:09:15 PM
 #19

Drunken quoting fail on my part.  Cheesy

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Gordonium
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April 23, 2013, 07:11:11 PM
 #20

Drunken quoting fail on my part.  Cheesy

I'll drink to that!
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