Thoughts about Bitcoin as a small country currency

[nagabeler]

maybe a small amusement park first , then a town, then a country

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[BeginToMine]

How would it be possible to restrict it only for one country ?

[HarHarHar9965]

Any thoughts about Bitcoin replacing one of the extremely volatile currencies of a small country?

What fiat currency is more volatile than BTC? None that I can think of. Sure, during historic times of hyperinflation, etc. But just look at the history of BTC. We can't even discuss it as a currency until it stops being so volatile.

[santaClause]

Any thoughts about Bitcoin replacing one of the extremely volatile currencies of a small country?

What fiat currency is more volatile than BTC? None that I can think of. Sure, during historic times of hyperinflation, etc. But just look at the history of BTC. We can't even discuss it as a currency until it stops being so volatile.

Bitcoin has the greatest chances of replacing the currencies (or potentially supplementing) of third world countries that have a very small economy and very small stand of living.

[Cboy]

I don't think any country , even if it is small and poor would consider changing their currency with bitcoin.

[murraypaul]

Bitcoin is not really a currency. It's even more volatile that most FIAT currencies.

It is a currency and it's only volatile when you peg it to other currencies.

No, it is also volatile when measured as the cost to buy things, for almost all merchants.

1 bitcoin is always worth 1 bitcoin.

And 1 dollar is always worth 1 dollar.
Doesn't really get us very far, does it?

[HarHarHar9965]

Bitcoin is not really a currency. It's even more volatile that most FIAT currencies.

It is a currency and it's only volatile when you peg it to other currencies.

No, it is also volatile when measured as the cost to buy things, for almost all merchants.

Yes, it's not just when pegging it "to other currencies" but to purchasing power. That's what is important here. In that light, the dollar is relatively stable. Bitcoin is extremely volatile.

[littlewizard]

Why not thinking it as a global currency?
It can be used as bridges for different currency in the world

[Cream]

http://www.coindesk.com/70000-caribbean-island-residents-receive-bitcoin-2015/
These might interest you.But it's hard to make or just impossible to replace a currency.Look at the volatile nature of this beast

[oceans]

I think the way bitcoin is at the moment any Country is going to be a little dubious about making it a currency for their Country. Don't get me wrong having bitcoin as a currency in a small Country could be a huge step but it's also risky.