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Bitcoin the Currency for an Independent Scotland?

Scotland has oil, it’s small and can adopt the same regulatory measures as Singapore or Switzerland. That’s everything it needs to eventually join the list of the richest nations of the world, Dominic Frisby, author of ‘Life After the State’, told RT.

“Scotland has the oil, it’s small, its population is less than 5 million and it has the same record. It has the opportunity to install the same regulatory and legislative [measures], to take the same options as Singapore or Switzerland. No other country in the world has the triple: the oil, regulatory issues and the fact that it is small,” Frisby told RT’s Max Keiser on his show, the Keiser Report.

While writing his book “Life After the State,” Frisby researched the list of the richest nations in the world based on GDP per capita. He explains that some of the states got onto the list because of their huge oil stocks, others due to their favorable regulatory legislation, but all of them have something in common – they are relatively small in size.

“In first place it’s Qatar, in second place it’s Luxemburg, and then you have the likes of Switzerland, Norway, Singapore, Hong Kong (that counts as a country on those lists), Brunei, etc. Some of these countries have got rich because of their oil. But in that case, why isn’t there Saudi Arabia on the list? Why isn’t Russia or Venezuela? Saudi Arabia is, by the way, 28th. Some of the countries have got there because of their oil, some because of the favorable legislation regulation, which means people either want to base themselves there or operate out of there, they are very tax-friendly. But these are regulatory and legislative options that are available to other countries in the world, they just haven’t been adopted,” Frisby said.

“The one thing all these countries on the list have in common is that they are small. They all have populations below 5 million, only Switzerland has above 7 million people, with the exception of the US which is at the 7th or 8th position. But in 1950-1970 the US topped that list, but as its state has grown and government has become more centralized, the US has slipped,” Frisby said.

Scotland’s First Minister Alex Salmond and Deputy First Minister Nicola Sturgeon pose for picture during a press conference to launch their regional government’s long-awaited “white paper” ahead of next year’s historic independence referendum, at Glasgow Science Centre in Glasgow, Scotland, on November 26, 2013. (AFP Photo / Andy Buchanan)

Scotland’s First Minister Alex Salmond and Deputy First Minister Nicola Sturgeon pose for picture during a press conference to launch their regional government’s long-awaited “white paper” ahead of next year’s historic independence referendum, at Glasgow Science Centre in Glasgow, Scotland, on November 26, 2013. (AFP Photo / Andy Buchanan)

Frisby argues that Scotland combines all the necessary characteristics to become one of the richest countries in the world. Moreover, Scotland has “a huge history in finance and banking,” he said.

Talking about the advantages and disadvantages of keeping the British pound, if Scotland votes for independence in a referendum in September, Frisby said that would be “the dumbest decision that Scotland will make.”

“It will be exactly the same dynamic of Southern Europe that Greece faces. You have interest rates set in Westminster that suit London and England in the same way the interest rates set in Brussels suit Germany, and then in the process Greece or Spain have been absolutely annihilated by that. The same thing could happen to Scotland. If it is going to be independent, be independent. They have to learn to live off their tax base as well,” Frisby told Max Keiser.

Frisby said that he favors crypto-currencies such as bitcoin, stating that “technology of electronic cash is infinitely superior” and it’s pretty obvious that that’s the way money is going.

“Here is Scotland with an opportunity to be the trailblazer and be the first government to use cryptocurrency. Well, Icelanders are already doing that now,” Frisby said.


Originally posted 2014-02-11 05:23:03.

Britain: Arcades Play with Bitcoin

A growing number of establishments are accepting Bitcoin as payment. Now you can even use it to play arcade games.

British company Liberty Games combined the cutting edge currency with the aging gaming platform to make a simple transaction hilariously complicated. The company used a Raspberry Pi and a PiFace add-on to make the payment interface.

Liberty Games first tried their Bitcoin payment mod on a pool table. After receiving good feedback for that mod, the company decided to apply it on an arcade machine.

The great thing about their method is that it doesn’t mess with the machine’s software, which means it can be performed on pretty much any coin-operated arcade game. Not that you should.


Originally posted 2014-02-05 06:05:46.

Go Cruising with Bitcoin

SACRAMENTO, CA — Ships and Trips Travel, an award-winning Sacramento travel agency with over 13 years in business and 115 travel professionals is the latest company to join the many merchants now accepting Bitcoin.

Last year proved to be a defining year for Bitcoin as prices rose and more businesses began accepting the digital currency. For the most part, Bitcoins are used to buy online goods and services, but there are still plenty of businesses looking to fill the gap and provide services for the growing Bitcoin community.

Company spokesperson Matt Risse, also partner at Ships and Trips Travel , says Bitcoin is a great technological advancement and by partnering with Bitpay they are able to extend their wide range of travel services to cater to the Bitcoin community.

“We want our customers to be happy”, says Risse. “For awhile Bitcoin was something to question, but with Bitcoin now being accepted by so many businesses — including the Sacramento Kings, it’s obvious to see the demand. And Bitcoin enthusiasts are not shy about what they want to see. We’ve had several people ask if we accept Bitcoin, so we decided to make it happen.”

The travel industry has been slow to adopt Bitcoin, with some of the more notable examples being Virgin Galactic, who began accepting Bitcoin for space travel in November of last year. The interest in using Bitcoin for travel first gained ground through a documentary launched on Kickstarter called “Life On Bitcoin”, where newlyweds Becky and Austin Craig chronicled their lives for 90 days, using only Bitcoin to pay for what they needed to survive. Even with the exposure and press gained through their adventure, Bitcoin travel options are still very limited.

Ships and Trips Travel hopes to accelerate Bitcoin adoption in the travel industry by accepting Bitcoin for cruises, vacation packages and honeymoons. This makes using Bitcoin for travel as easy as using “fiat”. Ships and Trips Travel are long time partners with 27 of the largest cruise lines in the world; including Carnival, Disney Cruise Lines, and Viking River Cruises. Their other partners include hotels and resorts at destinations around the world. In other words, with Ships and Trips Travel now accepting Bitcoin, there is a slim chance that you will have trouble using Bitcoin to travel anywhere in the world.


Originally posted 2014-02-05 05:06:58.