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Author Topic: Today Im meeting the guys writting the new Iceland constitution to talk Bitcoin  (Read 4551 times)
Anonymous
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July 11, 2011, 10:03:36 AM
 #21

With all that free geothermal power sitting there iceland could become the best place to host a bitcoin mining farm.   Smiley

Money speaks louder than anything with governments. Maybe a significant amount of capital investment in a data center would increase their interest....
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July 15, 2011, 04:54:18 AM
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What would be really great for bitcoin is if an entire town adopted it as their local currency. If you get an opportunity to talk the Icelandic folk again, I propose you ask them if they could try to allow one town to opt-out of the national currency and use bitcoins as their main currency. If they would allow people from outside Iceland to get temporary visas to live in that town, that would be even better.
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August 03, 2011, 10:20:24 AM
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What would be really great for bitcoin is if an entire town adopted it as their local currency. If you get an opportunity to talk the Icelandic folk again, I propose you ask them if they could try to allow one town to opt-out of the national currency and use bitcoins as their main currency. If they would allow people from outside Iceland to get temporary visas to live in that town, that would be even better.

There is no ready system for that. Where are bitcoin cards, or whatever to use when paying for food in supermarkets? Get out the laptop and transfer money? how can a city or even a small village realistically adopt it?

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August 03, 2011, 01:44:23 PM
 #24

Mobile phones can be used as bitcoin wallets, and face-to-face bitcoin transactions can be instant with practically no risk of being reversed, so there would be no need for a third party payment processor.

Bitbills could also be used, with change being sent to the customer's bitcoin address.
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