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Question: Which country will be the first to keep Bitcoins as Official Reserves, like gold, USD, EUR, etc?
Iceland - 25 (30.1%)
Zimbabwe - 3 (3.6%)
Ireland - 2 (2.4%)
Switzerland - 7 (8.4%)
China - 13 (15.7%)
USA - 5 (6%)
New Zealand - 1 (1.2%)
Libya - 2 (2.4%)
Somalia - 6 (7.2%)
Panama - 2 (2.4%)
Cayman Islands - 8 (9.6%)
UK - 1 (1.2%)
Estonia - 2 (2.4%)
Finland - 2 (2.4%)
Japan - 1 (1.2%)
Singapore - 2 (2.4%)
Cuba - 1 (1.2%)
India - 0 (0%)
Lithuania - 0 (0%)
Latvia - 0 (0%)
Total Voters: 82

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Author Topic: First Nation to keep Bitcoin as Official Reserves??  (Read 4732 times)
benjamindees
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April 18, 2011, 04:28:04 AM
 #21

India is conspicuously absent.

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MoonShadow
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April 18, 2011, 06:25:08 AM
 #22

Iceland.

Of all the sovereign nations, Iceland has a highly educated populace, high network access, low electricity costs and high heat needs, a currently weak national currency, and is not (yet) part of the Eurozone (and may never be now).  They also have a small population and therefore an elected government that is very subject to public pressure.

If any nation can directly benefit from openly accepting Bitcoin as an international trade medium, it's Iceland.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
Jered Kenna (TradeHill)
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April 18, 2011, 02:38:49 PM
 #23

Iceland.

Of all the sovereign nations, Iceland has a highly educated populace, high network access, low electricity costs and high heat needs, a currently weak national currency, and is not (yet) part of the Eurozone (and may never be now).  They also have a small population and therefore an elected government that is very subject to public pressure.

If any nation can directly benefit from openly accepting Bitcoin as an international trade medium, it's Iceland.

I'm with you. How ironic would it be if they backed with btc and it continued to appreciate like mad. Going from a country with a screwed economy to rich as hell.

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Gavin Andresen
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April 23, 2011, 03:15:49 AM
 #24

All that Icelandic geothermal power could make them a mining hot spot, too.

How often do you get the chance to work on a potentially world-changing project?
marcus_of_augustus
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April 23, 2011, 03:50:33 AM
 #25

All that Icelandic geothermal power could make them a mining hot spot, too.

Yeah, crossed my mind too. And they have lots of ice cooled air for cooling too ... land of fire and ice ... and bitcoin miners.

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April 23, 2011, 08:53:59 PM
 #26

I answered china.
They're putting their dollars everywhere and still can't get rid of them.

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April 28, 2011, 02:25:28 PM
 #27

http://netrightdaily.com/2011/04/iceland-declares-independence-from-international-banks/

One step towards Bitcoin's adoption!

Bitalo.com coming soon!

1MAHKULzqZb4evFFg9157LvnJhJQQbeYo7
MoonShadow
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April 28, 2011, 07:28:28 PM
 #28

I answered china.
They're putting their dollars everywhere and still can't get rid of them.

The points against China are....

1)  They are a large population, and therefore not prone to quick changes in monetary policy.

2)  They are a command economy, and would therefore likely view the rise of an un-managable currency (from outside their own culture, and worse from a Japanese national) with contempt.

3)  They are deeply vested in the international fiat systems due to international trade, and would be wary about losing much wealth with the decline of those reserves.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
Ian Maxwell
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April 29, 2011, 02:03:15 AM
 #29

So is anyone actually talking to officials in Iceland about this idea? If we think they'd be interested, it's worth getting their interest.

Not me, I'm just some guy on the internet. Maybe someone like Bruce who already has his name in print.

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MoonShadow
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April 29, 2011, 02:32:09 AM
 #30

Cuba?  Really?

Hot, poor and socialist?  They still have '50s Ford trucks on the road, how the hell are they going to jump onto Bitcoin as a nation even if they wanted to?

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
mewantsbitcoins
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April 29, 2011, 02:39:39 AM
 #31

I think Baltic states could be perfect candidates. They have small, tech savvy populations and great internet infrastructure. Their economies have been really badly hit and although it returned to growth late last year it is still very unstable. In a long term emigration is a big problem and since Germany opened borders, it will get even worse.
MoonShadow
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April 29, 2011, 02:41:15 AM
 #32

Sure, but all these things also apply to Iceland, and they have a smaller population than most cities, much less nations.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
mewantsbitcoins
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April 29, 2011, 03:07:23 AM
 #33

The major difference is that Iceland is in the top 10 on the standard of living chart while Baltic states are in a pretty dire state
MoonShadow
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April 29, 2011, 03:13:53 AM
 #34

The major difference is that Iceland is in the top 10 on the standard of living chart while Baltic states are in a pretty dire state

And you think that makes it more likely that Bitcoin would be officially recognized?

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
mewantsbitcoins
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April 29, 2011, 03:26:30 AM
 #35

I think it is more likely to get widely adopted and if it got widely adopted, it would get officially recognized
Raize
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April 29, 2011, 05:07:13 PM
 #36

Iceland.

Of all the sovereign nations, Iceland has a highly educated populace, high network access, low electricity costs and high heat needs, a currently weak national currency, and is not (yet) part of the Eurozone (and may never be now).  They also have a small population and therefore an elected government that is very subject to public pressure.

If any nation can directly benefit from openly accepting Bitcoin as an international trade medium, it's Iceland.

Yeah, Iceland was the first one that came to mind, they have a populace that isn't stupid (they didn't bailout banks) and they have a currently weak currency. It seems like they would be the most prone to doing this and fixing their exchange rate to BTC.

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Need2Revolt
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April 30, 2011, 10:18:41 AM
 #37

Aw man you got my hopes up with that thread title Sad

booo to misleading titles
marcus_of_augustus
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April 30, 2011, 10:27:54 AM
 #38

Aw man you got my hopes up with that thread title Sad

booo to misleading titles

edited to reflect the poll nature of thread ... sorry if it got your hopes up  Smiley

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