Quote from: johnyj on May 31, 2015, 10:38:55 PM

Quote from: jjacob on May 31, 2015, 01:26:13 PM

Yes, there is a big list of countries which do just that.
http://en.wikipedia.org/wiki/Currency_substitution

Thanks for the link.

I went through the list, most of those countries are small countries who does not have a sound monetary system thus rely on a larger and more established foreign currency. But anyway it seems there are different scenarios for having a currency substitution, maybe bitcoin will work as currency substitution under certain circumstances. Unfortunately so far it works best for the drug dealer and money launderer, which is not going to help to increase the positive attitude from the government

If you think government is ever going to embrace a currency that they and their cronies can't manipulate and create, then you don't understand government.