Entire Country of China About to Adopt Cryptocurrency

[question] Imagine that a small country adopts Bitcoin as its second currency. What are possible political and economical consequences?

For example, in the year 2018 Singapore adopts Bitcoin as its second currency. The Singapore dollar will remain in circulation, but Bitcoin will become a legal tender too. Governmental banks will start to accept Bitcoin etc.
What are possible consequences of such decision? For the country and for the world.
submitted by themetalfriend to Bitcoin [link] [comments]

If a country adopts Bitcoin as an official currency...?

If a country adopts Bitcoin as an official currency, isn't that country just going to have a massive money laundering economy? Or turn into the world's black market central?
I don't know if this is the best place to ask this, but I've been going over the option in my head and I can't see it not turning into a hive of white collar criminals.
submitted by mahaanus to Bitcoin [link] [comments]

Why would a country adopt bitcoin?

Many over in /bitcoin talk about the inevitable adoption of butts by various countries, but why on earth would a country hand over control of its fiscal base to at best a ragtag bunch of ancaps, at worst to a potential 51% attack by China? Surely setting up their own independent block chain with centralised control, or control distributed to authorised entities only is the only sensible way to do things?
submitted by KenYN to Buttcoin [link] [comments]

If another country adopted Bitcoin as legal tender, would the United States bomb them?

submitted by the420chronicler to Bitcoin [link] [comments]

If a country adopts Bitcoin as an official currency...? /r/Bitcoin

If a country adopts Bitcoin as an official currency...? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

[question] Imagine that a small country adopts Bitcoin as its second currency. What are possible political and economical consequences? /r/Bitcoin

[question] Imagine that a small country adopts Bitcoin as its second currency. What are possible political and economical consequences? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Is the "killer app" actually a country adopting Bitcoin as their primary currency?

There are no shortage of countries with horrific monetary systems in place. They are incompetent, failing and straight up robbing their citizens. Would it be so bad for some of these countries to adopt Bitcoin as their currency? How could it possibly be worse than what they currently have?
submitted by bittopia to Bitcoin [link] [comments]

If the Central Bank of any country adopted Bitcoin (concept/idea)

I was thinking about a country adopting Bitcoin as its official currency, and then I thought how the Central Bank could print bank notes that actually contain bitcoin in them:
Honestly, I think this is pretty much a decentralized solution because you are only using the money from your country, and you can still run a bitcoin wallet and have your money come from other sources.
submitted by rockymc to Bitcoin [link] [comments]

If the Central Bank of any country adopted Bitcoin (concept/idea) /r/Bitcoin

If the Central Bank of any country adopted Bitcoin (concept/idea) /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Very interesting short documentary about Bitcoin in Argentina 2013. I'm from that country and we suffer from the evil of inflation that destroys our savings every day. That's why I've decided to adopt Bitcoin.

Very interesting short documentary about Bitcoin in Argentina 2013. I'm from that country and we suffer from the evil of inflation that destroys our savings every day. That's why I've decided to adopt Bitcoin. submitted by OneMoreJuan to Bitcoin [link] [comments]

Inside China's mission to create an all-powerful cryptocurrency. Bitcoin miners face severe regulation in China. Instead, the country is creating its own digital currency – and it could be adopted at a fast rate.

Inside China's mission to create an all-powerful cryptocurrency. Bitcoin miners face severe regulation in China. Instead, the country is creating its own digital currency – and it could be adopted at a fast rate. submitted by ngt_ to CryptoCurrency [link] [comments]

Could Antigua and Barbuda be the first country to adopt BitCoin

Could Antigua and Barbuda be the first country to adopt BitCoin? Or the first to create a national currency token on BitCoin? Or both? Could this be the big news Calvin Ayre has alluded to? Either way, in retrospect, these articles from 2017 are interesting.

In Antigua, meanwhile, Ayre began construction in October of a $25 million call centre, saying it was part of his vision for bitcoin and online gaming. Speech notes provided by Ayre’s spokesman, Pownall, show that Ayre said at a launch event: “I see a growing convergence of Bitcoin, online gaming, virtual reality and gamification technologies, and progressive countries like Antigua are poised to take advantage of this convergence by developing a truly global services industry.”
According to an overview document and presentation slides reviewed by Reuters, in 2015 Wright planned to propose to the Antigua government that the island adopt bitcoin as its official currency. It is unclear which government department Wright approached, or indeed whether he made the proposal as planned. Requests for comment from three ministries in the Antiguan government produced no response.
“Bitcoin is not just a currency,” Wright wrote in his proposal for Antigua to adopt bitcoin. “It's a new backbone and commercial foundation for the internet.”

https://www.reuters.com/investigates/special-report/bitcoin-wright-patents/
(Also the authors of this article, Byron Kaye and Jeremy Wagstaff, are also the authors of the soon to be released book - Behind the Mask: Craig Wright and the Battle for Bitcoin.)


INB4: 'CaLvIN iS a CrIMiNaLZ'


Former Online Gambling Billionaire Calvin Ayre Pleads Guilty To Misdemeanor Charge
https://www.forbes.com/sites/nathanvardi/2017/07/14/former-online-gambling-billionaire-calvin-ayre-pleads-guilty-to-misdemeanor-charge/
Looks like the US government acted criminally in this instance by confiscating Bodog customer funds,that Calvin personally made whole.


Antigua & Barbuda Government Welcomes Vindication of Calvin Ayre as Part of the Failure by US to Comply with WTO Ruling on Internet Gaming
https://www.prnewswire.com/news-releases/antigua--barbuda-government-welcomes-vindication-of-calvin-ayre-as-part-of-the-failure-by-us-to-comply-with-wto-ruling-on-internet-gaming-638514283.html
submitted by rectalburn to bitcoincashSV [link] [comments]

African Countries Leading Cryptocurrency Adoption, Africa’s P2P Bitcoin (BTC) Volumes Hits All Time Highs

African Countries Leading Cryptocurrency Adoption, Africa’s P2P Bitcoin (BTC) Volumes Hits All Time Highs submitted by n4bb to CoinPath [link] [comments]

Bitcoin Usage May Spike Following Cash Restrictions in Malaysia. Malaysia is set to become the latest country to impose restrictions on cash transactions. The move could force more people to look towards bitcoin and crypto adoption in general as a way of getting around such limitations.

Bitcoin Usage May Spike Following Cash Restrictions in Malaysia. Malaysia is set to become the latest country to impose restrictions on cash transactions. The move could force more people to look towards bitcoin and crypto adoption in general as a way of getting around such limitations. submitted by Crypthomie to CryptoCurrency [link] [comments]

Bitcoin Usage May Spike Following Cash Restrictions in Malaysia. Malaysia is set to become the latest country to impose restrictions on cash transactions. The move could force more people to look towards bitcoin and crypto adoption in general as a way of getting around such limitations.

Bitcoin Usage May Spike Following Cash Restrictions in Malaysia. Malaysia is set to become the latest country to impose restrictions on cash transactions. The move could force more people to look towards bitcoin and crypto adoption in general as a way of getting around such limitations. submitted by jeffyal to CryptoMarkets [link] [comments]

If there is no central bank that controls bitcoin, and no monetary policy, then how could inflation be controlled, interest rates be set for growth or otherwise, and how can the currency be stabilized?

Let's suppose that some country adopts bitcoin exclusively, bitcoin value would go up initially due to the demand, and then that country has a terrible economy crash, then wouldn't bitcoin just unravel into possibly becoming worthless?
How could a country such as that kind of give the green light for investment and growth in economic expansion, and then put on the brakes for savings if the economy is not expanding.
Let's say all the bitcoin is mined and accounted for, and it is the only currency in the world.
What do you do, as a country if you want to invest in growth? As it is now, the country can just make new money, and as long as the country increases in worth beyond the value of new money created, then they are ahead of the game.
With bitcoin, I can only see that coming from investors. But at a given point, wouldn't all the money be tied up somewhere?
You'd have to somehow create new bitcoins, to create new worth in the world. But wouldn't that require some sort of central authority?
submitted by Akoustyk to Bitcoin [link] [comments]

What do you wish for Bitcoin in 2016?

What is your wish for the Bitcoin protocol and ecosystem in 2016?
Some starting thoughts:
submitted by ivanraszl to Bitcoin [link] [comments]

Inside China's mission to create an all-powerful cryptocurrency. Bitcoin miners face severe regulation in China. Instead, the country is creating its own digital currency – and it could be adopted at a fast rate.

Inside China's mission to create an all-powerful cryptocurrency. Bitcoin miners face severe regulation in China. Instead, the country is creating its own digital currency – and it could be adopted at a fast rate. submitted by scgco to GGCrypto [link] [comments]

The new Bitcoin wallet launched by a cuban crypto entrepreneur drives cryptocurrency adoption in Cuba with the citizens currently embracing bitcoin like no other country

The new Bitcoin wallet launched by a cuban crypto entrepreneur drives cryptocurrency adoption in Cuba with the citizens currently embracing bitcoin like no other country submitted by cryptopriceNg to Bitcoin [link] [comments]

Bitcoin Cash Merchant Adoption is Growing: Malta 🇲🇹 and Six Countries in the Pipeline ✌️

Bitcoin Cash Merchant Adoption is Growing: Malta 🇲🇹 and Six Countries in the Pipeline ✌️ submitted by Egon_1 to btc [link] [comments]

Celebrating South Africa's top 3 spot - countries with the highest crypto adoption rates globally. Let's toast to a bright future! Book your Free Ticket Now!https://www.eventbrite.com/e/bitcoin-2020-party-tickets-83686623945

Celebrating South Africa's top 3 spot - countries with the highest crypto adoption rates globally. Let's toast to a bright future! Book your Free Ticket Now!https://www.eventbrite.com/e/bitcoin-2020-party-tickets-83686623945 submitted by greyjabesi to CryptoCurrencies [link] [comments]

The usual Bitcoin long-term projection: Moon or Doom. What could cause Bitcoin's value to plummet to it's "Doom"?

Whenever people talk about long-term projection of Bitcoin's price, most say there are only 2 options:
I've seen many arguments and speculation on what could drive Bitcoin to the moon:
etc.
But what about the other side of the coin?
Instead of going to the moon, what could cause Bitcoin to die off?
What scenarios do you think would be deadly to Bitcoin?
submitted by pnoy_spammer to Bitcoin [link] [comments]

The country with the world's best land TRADITIONAL FINANCE FORCED TO ADOPT DIGITAL ASSETS!! Slovenia - The Crypto Country  Bitcoin.com Documentary 13 July 2020 13 July 2020 Bundarwa beecroft peninsula jerrinja tribal country ron carberry

This seems to support the idea that the countries most likely to truly adopt Bitcoin as peer to peer cash, are those experiencing a financial crisis. The underlying problems that caused the 2008 financial crisis have not been solved and Venezuela will not be the last country to experience an economic crisis. The entire country of China could be about to adopt cryptocurrency... and it may be bad news. The US-China Trade War has been dominating the news as of late as many people search for ways to hedge their assets. Bitcoin is now being seen as a safe hedge for those seeking to flee fiat currency investments. Below we are going to take a look at six nations that are in the lead when it comes to bitcoin adoption. 1. Ukraine. Statistics show that 13 percent of Ukrainians own bitcoin and other altcoins. Also, $2 million worth of crypto is in circulation every day in the country making Ukraine one of the leading countries when it comes to bitcoin adoption. Legality Of Bitcoin By Country Or Territory. Venezuela Urges 10 Other Countries to Adopt Its Oil-Backed Cryptocurrency Venezuelas president Nicolas Maduro has called for 10 other countries to adopt his planned oil-backed cryptocurrency, the petro. This move follows the countrys parliament declaring the issuance of this new currency illegal. For those of us engulfed in the world of cryptocurrency, it feels like we live and breathe Bitcoin–and we expect everyone else too as well. But while the percentage numbers may still be low relative to the entire population, check out the top five countries where cryptocurrency adoption is highest.. Cryptocurrency Adoption Is Highest in Turkey

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The country with the world's best land

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