Bitcoin Forum
March 28, 2024, 10:02:19 PM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2] 3 »  All
  Print  
Author Topic: Which country might switch to BTC?  (Read 1421 times)
Lohoris
Hero Member
*****
Offline Offline

Activity: 630
Merit: 500


Bitgoblin


View Profile
October 30, 2013, 09:45:18 AM
 #21

No sovereign government will give up their right to print money.
it's sad how many people fail to read the first post, let alone the whole thread...

1LohorisJie8bGGG7X4dCS9MAVsTEbzrhu
DefaultTrust is very BAD.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1711663339
Hero Member
*
Offline Offline

Posts: 1711663339

View Profile Personal Message (Offline)

Ignore
1711663339
Reply with quote  #2

1711663339
Report to moderator
1711663339
Hero Member
*
Offline Offline

Posts: 1711663339

View Profile Personal Message (Offline)

Ignore
1711663339
Reply with quote  #2

1711663339
Report to moderator
1711663339
Hero Member
*
Offline Offline

Posts: 1711663339

View Profile Personal Message (Offline)

Ignore
1711663339
Reply with quote  #2

1711663339
Report to moderator
WishIStartedSooner
Sr. Member
****
Offline Offline

Activity: 252
Merit: 250


View Profile
October 30, 2013, 01:48:32 PM
 #22

A country that doesn't have any centralized regulation control institute.
Maybe some africa countries!
BitcoinWalker
Full Member
***
Offline Offline

Activity: 127
Merit: 100


$Gangnam works hard, so you don't have to.


View Profile WWW
October 30, 2013, 02:11:20 PM
 #23

A country that doesn't have any centralized regulation control institute.
Maybe some africa countries!
You name it 'the united states of africa'.

Investing with style!
 
leus
Newbie
*
Offline Offline

Activity: 5
Merit: 0


View Profile
November 03, 2013, 07:03:35 PM
 #24

Guys,
I recommend you to read Milton Friedman's Money Mischief. He wrote the book in early 90's suggesting that next currency will be made of computer bytes. He was very right in his suggestions. One day we will be paying virtual currency all over the world, I believe. Any Government will not accept that voluntarily, because they strive to rule and make money for them selves. They will try to ignore it but when they realize that money they have been printing eventually does not have any value, it will be too late for them. I am not communist nor socialists but can you imagine world without central bankers with hefty bonuses? It cannot be stopped now. It is too late. Great New World   Wink
EccLipSe
Member
**
Offline Offline

Activity: 168
Merit: 10


View Profile
November 03, 2013, 07:17:05 PM
 #25

It is freedom without actual financial system. Please watch below video and you will see what happens and what we will get after freedom from cental bank system.

http://www.youtube.com/watch?v=iFDe5kUUyT0&feature=share
BarkinTree
Full Member
***
Offline Offline

Activity: 204
Merit: 100



View Profile
November 03, 2013, 08:24:32 PM
 #26

btc goes against a very important power of government that it does not want to lose. this does not make sense unfortunately.
exstasie
Legendary
*
Offline Offline

Activity: 1806
Merit: 1521


View Profile
November 03, 2013, 08:29:03 PM
 #27

What about Iceland?  We know that they've had 'some' issues with the stability of their economy.  Plus Iceland seems to more progressive in their thinking and policies, so who knows!  Maybe they'll complete eliminate physical currency!

forbun
Member
**
Offline Offline

Activity: 107
Merit: 10


View Profile WWW
November 04, 2013, 01:45:43 AM
 #28

btc goes against a very important power of government that it does not want to lose. this does not make sense unfortunately.

BarkinTree is wrong. As OP stated, many governments don't print their own currency. I think this makes great sense.

What name would you give to the smallest unit of bitcoin (0.00000001)? sat. What name would you give to 100 sats? bit. 1 bit = 1 uBTC. 1,000,000 bits = 1 BTC. It's bits
CryptoCrazy
Newbie
*
Offline Offline

Activity: 21
Merit: 0


View Profile
November 04, 2013, 03:58:51 AM
 #29

It is freedom without actual financial system. Please watch below video and you will see what happens and what we will get after freedom from cental bank system.

http://www.youtube.com/watch?v=iFDe5kUUyT0&feature=share

wow, great video.
wmcleod
Newbie
*
Offline Offline

Activity: 56
Merit: 0


View Profile
November 04, 2013, 04:24:35 AM
 #30

I personally do not think any country will switch their formal denomination to Bitcoin.  Perhaps an alternate coin, but not Bitcoin.  Bitcoin is becoming entrenched with the exact notions nation-states inherently avoid (anonymity, decentralization, to name a few). 

This is just my personal opinion though.  I recognize that in the last few years we've heard rumblings of failed nation-states adopting Bitcoins as their national currency but nothing ever came to fruition (probably for the best).

cryptoanarchist
Legendary
*
Offline Offline

Activity: 1120
Merit: 1003



View Profile
November 04, 2013, 04:34:58 AM
 #31

One of the potential causes for an explosion in the price of BTC would be if a country decided they wanted use it as the national currency. What countries do you think are potential candidates?

There are currently more than sixty countries who do not have their own currency listed on wikipedia https://en.wikipedia.org/wiki/Dollarization These are governments who don't think it's worth the hassle of printing and managing currency just to have a few extra economic controls.

Some countries, like Somalia, could obviously benefit, but lack the internet infrastructure. There's been a lot of talk about Argentina for example, but I know next to nothing about them. What if a private army like the infamous Kony started using it? Again, infrastructure is an issue. Maybe a rich region could declare independence from a poorer capital, and switch to BTC?

Any ideas?



This is dumb. Cryptocoins are for individuals, not "countries".

I'm grumpy!!
wmcleod
Newbie
*
Offline Offline

Activity: 56
Merit: 0


View Profile
November 04, 2013, 04:36:32 AM
 #32

One of the potential causes for an explosion in the price of BTC would be if a country decided they wanted use it as the national currency. What countries do you think are potential candidates?

There are currently more than sixty countries who do not have their own currency listed on wikipedia https://en.wikipedia.org/wiki/Dollarization These are governments who don't think it's worth the hassle of printing and managing currency just to have a few extra economic controls.

Some countries, like Somalia, could obviously benefit, but lack the internet infrastructure. There's been a lot of talk about Argentina for example, but I know next to nothing about them. What if a private army like the infamous Kony started using it? Again, infrastructure is an issue. Maybe a rich region could declare independence from a poorer capital, and switch to BTC?

Any ideas?



This is dumb. Cryptocoins are for individuals, not "countries".

That's a rather ignorant assertion.  Cryptocoins could very easily be integrated into a nation's formal currency.  This wouldn't undermine altcoins in the slightest.
johncarpe64
Sr. Member
****
Offline Offline

Activity: 420
Merit: 250


View Profile
November 04, 2013, 04:49:29 AM
 #33

Zimbabwe!!! They aren't using their own currently anyway might as well change to Bitcoin or gold....
InwardContour
Sr. Member
****
Offline Offline

Activity: 644
Merit: 260


View Profile
November 04, 2013, 05:15:42 AM
 #34

btc goes against a very important power of government that it does not want to lose. this does not make sense unfortunately.

BarkinTree is wrong. As OP stated, many governments don't print their own currency. I think this makes great sense.
are there any with any amount of power in geo-political terms? that's what i would like to know.  Huh  if not, maybe he is not wrong, per se.
Shallow
Sr. Member
****
Offline Offline

Activity: 938
Merit: 255


SmartFi - EARN, LEND & TRADE


View Profile
November 04, 2013, 05:21:55 AM
 #35

A country that has a heavily devalued dollar might make the switch.

████
██
██
██
██
██
██
██
██
██
██
██
████
...The Open..............
...Lending Platform...
████
████
████
████
████
████
████
████
████
████
████
████
████
▄▄█████████▄▄
▄█████████████████▄
▄██████████▀▀▀▀███████▄
█████████▀        ███████
████████▀        ▄█████████
█████████       ▄▀▀██████████
█████████     ▄▀   ▀█████████
██████████  ▄▀      █████████
█████████▀▀       ▄████████
███████        ▄█████████
▀███████▄▄▄▄██████████▀
▀█████████████████▀
▀▀█████████▀▀
.SMARTFI..████
████
████
████
████
████
████
████
████
████
████
████
████
...Join the SmartFi.....
...Token Sale...
████
██
██
██
██
██
██
██
██
██
██
██
████
████████████████████████████
████████████████████████████
████████████████████████████
█████████████████▀▀  ███████
█████████████▀▀      ███████
█████████▀▀   ▄▄     ███████
█████▀▀    ▄█▀▀     ████████
█████████ █▀        ████████
█████████ █ ▄███▄   ████████
██████████████████▄▄████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████▀▀▄██████▄▀▀████████
███████  ▀        ▀  ███████
██████                ██████
█████▌   ███    ███   ▐█████
█████▌   ▀▀▀    ▀▀▀   ▐█████
██████                ██████
███████▄  ▀██████▀  ▄███████
████████████████████████████
████████████████████████████
████████████████████████████
cryptoanarchist
Legendary
*
Offline Offline

Activity: 1120
Merit: 1003



View Profile
November 04, 2013, 03:33:35 PM
 #36


That's a rather ignorant assertion.  Cryptocoins could very easily be integrated into a nation's formal currency.  This wouldn't undermine altcoins in the slightest.

By countries you refer to government, which bitcoin was designed to do away with. Countries can't adopt bitcoin because they wouldn't be able to forcifully extract wealth from its slaves ('citizens') if it did.


I'm grumpy!!
reannypleas
Full Member
***
Offline Offline

Activity: 152
Merit: 100



View Profile
November 04, 2013, 03:43:55 PM
 #37

Countries can't adopt bitcoin because they wouldn't be able to forcifully extract wealth from its slaves ('citizens') if it did.




They can, you always have some physical asset. You can use coupons already in your shop, it is not much different from Bitcoin.

adicted
Hero Member
*****
Offline Offline

Activity: 546
Merit: 500


View Profile
November 04, 2013, 03:44:25 PM
 #38

may be each country will use dif coin in the end for currency
leus
Newbie
*
Offline Offline

Activity: 5
Merit: 0


View Profile
November 04, 2013, 08:16:52 PM
 #39

Currencies are just papers which are very cheap to produced. They have value only because people believe that they have value. They believe they have value because they had experienced that they have had value. Consider island of Yap. Small island in the Caroline Islands of the western Pacific Ocean which is known for its own currency - stone money. So as long as people believe in bit coins / alt coins they can become base currencies in the passage of time. If stones work why not computer bytes? Smiley
BTC_GHD
Member
**
Offline Offline

Activity: 98
Merit: 10


View Profile
November 04, 2013, 09:05:11 PM
 #40

Well Germany has had some stuff going on with BitCoin http://www.cnbc.com/id/100971898
so who knows maybe they will

BITCOIN CASINO BTC  30% DEPOSIT BONUS @ Bit777.com BTC Freebie Forum Thread! BTC
BITCOIN GAMBLING @ Peerbet.org ZERO HOUSE EDGE RAFFLES BTC 5 WHEELS OF FORTUNE! Forum Thread
Pages: « 1 [2] 3 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!