Bali Plans to Become a Bitcoin Paradise Island?

[coindozer7]

I thought this recent news article on how Bitislands planning to turn Bali (A paradise island in Indonesia that attracts millions of honeymoon couples, families, and tourists from all over the world every year) a Bitcoin island. It actually makes sense where cash & ATM theft and high international exchange fee has been a big issue. It will be a great vacation spot for all Bitcoin enthusiasts like us to visit when this happens!

What do you guys think? 

Why Bali Should Become a Bitcoin Island (via Fast Company)
http://www.fastcompany.com/3031149/bali-is-poised-to-become-the-worlds-first-bitcoin-island

How Bitislands Plans to Turn All of Bali into ‘Bitcoin Paradise’ (via CoinDesk)
http://www.coindesk.com/bitislands-bali-bitcoin-paradise

[1714047569]

1714047569

[1714047569]

1714047569

[1714047569]

1714047569

[1714047569]

1714047569

[Chef Ramsay]

I applaud these guys on there mission as it will only be more beneficial for the community going forward. Hopefully, more Indonesians realize the benefits and free them from the highly inflationary currency. We're starting to take the world by storm.

[nkocevar]

this is amazing. I think that this will help shed light on bitcoin cause this will definitely hit the news. Not only will it give bitcoin good media spotlight, but it may raise the price a percent or two... more money for me

[bitebits]

On the Gili Islands close to Bali there are no ATM's. Must say that was pretty inconvenient Great news!

[GogglesPisano]

I just read the article too... sounds like friggin paradise 

[keithers]

This is such a great idea.   Having mass adoption start in a place like paradise, is a great PR because it will attract so much attention while requiring a much smaller economy.     I would literally move to a place like Bali if I didn't have so much holding me where I currently live...

[Phinnaeus Gage]

I think it's amazing what some German dude can do there in Bali. First, sell a timeshare depicted as the first Villa to be sold in Bali to some unknown Texan, now this.

It was first reported that villa was nearing completion, then it was only a timeshare, then we later learnt that the property in question has been around for a while.

That's why I'm calling this announcement BULLSHIT!

[Ron~Popeil]

If a bit coin friendly airline comes along to go with it I might have to finally renew my passport.

[BTCisthefuture]

will be interesting to see how this develops.  Would be pretty cool if they can acheive some of the big goals they have.  I'll certainly visit (whether bitcoin takes off or not).

[Phinnaeus Gage]

Oscar owns http://www.ecurrencyzone.net

https://www.linkedin.com/pub/oscar-darmawan/62/319/340

Business Consultant
DV9 International Pte Ltd
2006 – 2009 (3 years)
Helping organizations to improve their performance, primarily through the thorough analysis of existing business problems and development of plans for improvement also previously in charge of Server Management and Performance.

The website for DV9.com just went live early this year.

Google 20 Maxwell Road, #09-17 Singapore to see what else stems from that address.

This is just a PR stunt, as far as I'm concerned.

[hamiltino]

That would be awseome but bali is not some small isolated retreat. Its actually a hugely populated area with plenty of businesses. It would be like trying to convince a modern city to drop what there doing and switch everything to bitcoin.

I have been there.

Maybe aim a little lower first.

[juju]

I hear some of those Islands are pretty beautiful, sounds like a decent place to part with some coins.

[spazzdla]

I hear some of those Islands are pretty beautiful, sounds like a decent place to part with some coins.

My thoughts exactly, if they do this, I'll be going to Bali.

[StatusSeeking]

I read this team wants to turn Bali into Bitcoin Island http://www.techinasia.com/team-turn-bali-bitcoin-island/

[Phinnaeus Gage]

I hear some of those Islands are pretty beautiful, sounds like a decent place to part with some coins.

My thoughts exactly, if they do this, I'll be going to Bali.

They should have the ATMs in place by then.

[Notanon]

All of the bogans heading there might get a bit too easily confused as to how to utilise Bitcoin in the first place. Which might be good as they might bugger off to Thailand or Lombok instead.

[MarketNeutral]

Who knows if anything will actually come of this (I hope so), but in terms of the location, I can think of worse places than Bali——especially off the tourist path.

[BitCoinDream]

I thought this recent news article on how Bitislands planning to turn Bali (A paradise island in Indonesia that attracts millions of honeymoon couples, families, and tourists from all over the world every year) a Bitcoin island. It actually makes sense where cash & ATM theft and high international exchange fee has been a big issue. It will be a great vacation spot for all Bitcoin enthusiasts like us to visit when this happens!

What do you guys think? 

Why Bali Should Become a Bitcoin Island (via Fast Company)
http://www.fastcompany.com/3031149/bali-is-poised-to-become-the-worlds-first-bitcoin-island

How Bitislands Plans to Turn All of Bali into ‘Bitcoin Paradise’ (via CoinDesk)
http://www.coindesk.com/bitislands-bali-bitcoin-paradise

This project actually took shape on this forum. Here is the link => https://bitcointalk.org/index.php?topic=567458.0 

[franky1]

the original idea, which i felt was flawed and very scammy was that they wanted some crowd funding.

but what would be the great plan is not to physically buy an island. as thats a billionaires wet-dream, but instead make it the most bitcoin friendly island there is.

the guys behind the Indonesian exchange can do all of this without crowd-funding. they simply use their exchange as the 'bitpay' equivalent service for shops on the island to convert. (also how the exchange makes the profits to afford the promotional stuff)

all they have to do is set all the shops up with their exchange and offer a QR/fresh address service that links to merchant accounts. this costs the exchange nothing to set up, bar a few lines of code. and walking around the island drumming up business has no costs either.

the only costs would be labour which they recoup from the merchant services they offer on their exchange.

if they want to have an office, again they dont need crowd-funding, as the exchange is already making profits so its not like they are a start up. they simply drop the current office rental, and move to another building that is on the island.

so now we are all on the same page that crowd funding is not needed, let move onto the promotional side of getting the shops on that island to accept bitcoin. then once the shops accept bitcoin. the staff who live on the island will find they can buy their food and clothes with bitcoin as... the shops they go to accept bitcoin. meaning the amount of bali legal tender will slowly decline to not being required at all.

[CoinDiver]

More productive would be to raise enough funds to pay off the local government.