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Possum (OP)
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July 27, 2011, 08:44:02 AM |
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What would happen if one of those Third world countries based their currency on bitcoin?
Or how about a Virtual On-line Republic with Bitcoin as their Currency?
Just a though
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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NetTecture
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July 27, 2011, 09:19:49 AM |
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What would happen if one of those Third world countries based their currency on bitcoin?
Rates * 100 or more. The current bitcoin rate is very very low - still. That said, wont happen. Or how about a Virtual On-line Republic with Bitcoin as their Currency?
Non-issue. This is like me pretending to be king of the world, and demading taxes from you - noone cares. |
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fennec
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July 27, 2011, 11:11:04 AM |
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There's an interesting bet – how long until Bitcoin becomes the official currency of a nation, if ever. If Bitcoin becomes a major global currency, it wouldn't be too hard to imagine. That's a big if, though.
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Preev – simple Bitcoin converter with live exchange rates
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molecular
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July 27, 2011, 11:20:09 AM |
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What would happen if one of those Third world countries based their currency on bitcoin?
Or how about a Virtual On-line Republic with Bitcoin as their Currency?
Just a though
How about world peace  . Just a thought... not trying to be too negative, but the "bitcoin republic" seems quite asleep with negligable amount of fresh immigrants after the hot weeks when the gold was found... some things take time. |
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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myhoho
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July 27, 2011, 11:56:14 AM |
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Its not a utopia. For sure, in this case bitcoin might worth lot lot more.
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Yankee (BitInstant)
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Charlie 'Van Bitcoin' Shrem
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July 27, 2011, 02:34:27 PM |
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What would happen if one of those Third world countries based their currency on bitcoin?
Or how about a Virtual On-line Republic with Bitcoin as their Currency?
Just a though
I like the idea, but bitcoin would have to become physical first. |
Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer. More about me: http://CharlieShrem.com |
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conspirosphere.tk
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Bitcoin is antisemitic
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July 27, 2011, 03:02:47 PM |
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What would happen if one of those Third world countries based their currency on bitcoin?
Or how about a Virtual On-line Republic with Bitcoin as their Currency?
Just a though
Awesome idea. Let's establish a virtual libertarian sovereign cyberspace (I recommend to have a fake religion too, since cults are endowed special freedoms all over the western world). The final objective should be to establish legal residence there, and release valid passports. |
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fabianhjr
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Do The Evolution
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July 27, 2011, 03:03:38 PM |
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What would happen if one of those Third world countries based their currency on bitcoin?
Or how about a Virtual On-line Republic with Bitcoin as their Currency?
Just a though
I like the idea, but bitcoin would have to become physical first. Not possible, though nowadays even in the low areas of Mexico many kids have cellphones and even smarthphones. |
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davux
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July 27, 2011, 03:06:54 PM |
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Bhutan should adopt Bitcoin. Would help a lot, at least about the 3-letter acronym debate.  |
1DavuxH9tLqU4c7zvG387aTG4mA7BcRpp2
México (Oaxaca) – France - Leeds
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Danzou
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July 27, 2011, 03:15:16 PM |
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Bhutan should adopt Bitcoin. Would help a lot, at least about the 3-letter acronym debate. Bhutcoins?  |
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TheBitMan
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July 27, 2011, 03:17:13 PM |
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third world countries don't have computers  |
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Yankee (BitInstant)
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Charlie 'Van Bitcoin' Shrem
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July 27, 2011, 03:31:00 PM |
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third world countries don't have computers Thats why I said, bitcoins need to become physical  |
Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer. More about me: http://CharlieShrem.com |
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OgNasty
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Leading Crypto Sports Betting & Casino Platform
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July 27, 2011, 04:37:49 PM
Last edit: July 27, 2011, 05:46:52 PM by OgNasty |
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What would happen if one of those Third world countries based their currency on bitcoin?
Or how about a Virtual On-line Republic with Bitcoin as their Currency?
Just a though
Screw a third world country... We should buy a cheap offshore lighthouse or small island from the government and start our own Republic Of Bitcoin. |
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Sukrim
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July 27, 2011, 04:44:16 PM |
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third world countries don't have computers Maybe (old) computers... but lousy internet conncetions! A friend of mine told me that it takes him ~5 minutes for a google search - and this is not the PC being slow... Until Bitcoin could be adopted there, the Blockchain would be so enormous that they can't even update it in realtime! |
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foggyb
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July 27, 2011, 04:52:46 PM |
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Until Bitcoin could be adopted there, the Blockchain would be so enormous that they can't even update it in realtime!
Sneakernet? |
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LeonGeeste
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July 27, 2011, 05:55:56 PM |
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How about a Bitcoin army?
"I solemnly swear to preserve, protect, and defend the integrity of the Bitcoin blockchain from all enemies -- spammers or forks."
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Trader Steve
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July 27, 2011, 06:00:46 PM |
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Bhutan should adopt Bitcoin. Would help a lot, at least about the 3-letter acronym debate. Bhutcoins? LOL |
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forexmasterja
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July 27, 2011, 06:06:18 PM |
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third world countries don't have computers Maybe (old) computers... but lousy internet connections! A friend of mine told me that it takes him ~5 minutes for a google search - and this is not the PC being slow... Until Bitcoin could be adopted there, the Blockchain would be so enormous that they can't even update it in realtime! Well I dont know about other third world countires but I live in a third world country JAMAICA and actually our IT infrastructure is pretty good as far as I think we have up to 100mbit connections available in all cities and also 95% 3g coverage at (1.5mbps) and 95% 4g coverage at 6mbps (I can drive around and be connected monitoring my miners anywhere I go no problem). I'm pretty sure there are lots of places in the USA that cant get anywhere near those connection speeds. Right now the average Jamaican is connecting to the internet at 20mbps, so dont knock third world countries |
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BTCrow
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July 27, 2011, 06:36:20 PM |
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Screw a third world country... We should buy a cheap offshore lighthouse or small island from the government and start our own Republic Of Bitcoin.
Without a kinda police force or authority enough powerful expect to have big drug / weapons lord kill everyone to steal your island and establish their commerce there. And this is only one reason of not doing it. Very nice idea but non viable for real. |
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Rassah
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July 27, 2011, 06:50:03 PM |
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Screw a third world country... We should buy a cheap offshore lighthouse or small island from the government and start our own Republic Of Bitcoin.
Without a kinda police force or authority enough powerful expect to have big drug / weapons lord kill everyone to steal your island and establish their commerce there. And this is only one reason of not doing it. Very nice idea but non viable for real. Those guys won't be a problem if this country willingly trades with them or runs their finances. Though the bigger problem (especially should that happen) will be nearby governments objecting. Check out the Republic of Rose Nation http://en.wikipedia.org/wiki/Republic_of_Rose_Island |
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