Why not move the Bahamas dollar to a BitCoin Bahamas Dollar so in other words all Bahamas Dollar are converted into BitCoin Bahamas Dollar with each physical note being backed by the holdings of the central bank being turned into BitCoin and then each physical dollar is some share of those BitCoin to enable paper money transactions to continue.
This has the benefit that as BitCoin rises over time so too does the value of a BitCoin Bahamas Dollar.
And it gives us something unique to market to international investors.
If the USD is going to slip over time why anchor to that, why not anchor to the future?
One BitCoin used to be worth $1, now it is worth $10,689
Who is the long term winner there? $1 USD or $10,689?
So what few peanuts we get from the cruise industry would now be lost if they only went to private islands. Then their position will be strengthened and that of the Bahamas and the Bahamas government weakened over time. Wonder how that will work out in our favour.
Better idea: Ban cruise ships and focus on smaller numbers of high end hotel based visitors who could be COVID tested on arrival (or departure) and then we have a tourism industry which brings us a lot of money per person and a healthy Bahamas!
Their points about almost no revenue to the host country and huge environmental impact and lack of regulation are all true!
But its not good enough to just halt growth.
Even allowing existing levels of cruise ships puts what the Bahamas needs (land based hotels with local employees) at unfair competition and over time it will strangle out the overnight industry in favour of the fleeting, low return, cruise model.
So just ban them!
(This is the benefit of being independent you see, the power should be used).
On multiple fronts this industry should have been asked to leave a long time ago.
The Bahamas needs a program like Bermuda where expats can come in to do remote work for their foreign eg. non Bahamas employer without the need for a work permit. Lithuania and Barbados have one too now.
This would provide some spending boost in the event covid vacines do not show up.
And we need a local grow program. People should be offered pay to grow for local food production, this way we do not "need" foreign reserves per se just to pay for food!
Given their enormous carbon emissions of the dirtiest fuel - Bunker C, how can cruise ships ever be green enough to ever resume operations? Its hard to see the world's remaining carbon budget having anything left in it for cheap cruises. Clear this industry should never return, its legacy of dumping at sea and avoiding regulation is a long one. Would we not be better off without it? Why are we having to chase? Shouldn't the Bahamas be back in control of its top industry - tourism?
BPL will of course never be fixed under public ownership, as there is always just more money to be had from the public purse. Not till that easy train ends will the hard, difficult things be done to fix BPL.
Hard to see how anyone but BPL insiders and the power union that is basically "protected" from any form of wage/pension hardship due to said setup is doing well by the current structure. 100% of Bahamas money can not be siphoned off to the cause of BPL as is happening now/has been happening for ages now. Collective bargaining rights will still remain with a private owner. Power workers in other jurisdictions who work for private power companies are hardly "hard done by".
Allowing oil drilling would greatly increase not decrease our contribution to climate change. So if we allow oil drilling we must be honest about it and pull out of the Paris Agreement.
You can't build LNG plants with a 50 year lifespan, and START oil drilling and an oil industry and claim any seriousness about doing anything about climate.
Reducing emissions enough to avert catastrophic climate change does not allow for a 25 year fossil fuel power plant deal.
Reducing emissions enough to avert catastrophic climate change does not allow for a 25 year fossil fuel power plant deal.
Said that twice as there seems to be some belief out there by many that somehow this is not true and the Bahamas is uniquely exempted from this very scientific fact.
concerned799 says...
If they have been found to have damaged the sea floor will they be asked to leave the Bahamas?
How much did they pay to the government when we found out thru US actions they were dumping at sea in Bahamian waters a couple of years ago?
On Taskforce to assess seabed damage from cruise ships
Posted 10 October 2020, 10:07 p.m. Suggest removal
concerned799 says...
Good point. Why I think we should link to BitCoin.
On Dollarisation must 'be on the table'
Posted 28 September 2020, 11:53 p.m. Suggest removal
concerned799 says...
Why not move the Bahamas dollar to a BitCoin Bahamas Dollar so in other words all Bahamas Dollar are converted into BitCoin Bahamas Dollar with each physical note being backed by the holdings of the central bank being turned into BitCoin and then each physical dollar is some share of those BitCoin to enable paper money transactions to continue.
This has the benefit that as BitCoin rises over time so too does the value of a BitCoin Bahamas Dollar.
And it gives us something unique to market to international investors.
If the USD is going to slip over time why anchor to that, why not anchor to the future?
One BitCoin used to be worth $1, now it is worth $10,689
Who is the long term winner there? $1 USD or $10,689?
Future is BitCoin folks....
On Dollarisation must 'be on the table'
Posted 28 September 2020, 11:53 p.m. Suggest removal
concerned799 says...
So what few peanuts we get from the cruise industry would now be lost if they only went to private islands. Then their position will be strengthened and that of the Bahamas and the Bahamas government weakened over time. Wonder how that will work out in our favour.
Better idea: Ban cruise ships and focus on smaller numbers of high end hotel based visitors who could be COVID tested on arrival (or departure) and then we have a tourism industry which brings us a lot of money per person and a healthy Bahamas!
On Downtown chief supporting private island cruise return
Posted 23 September 2020, 3:54 p.m. Suggest removal
concerned799 says...
Their points about almost no revenue to the host country and huge environmental impact and lack of regulation are all true!
But its not good enough to just halt growth.
Even allowing existing levels of cruise ships puts what the Bahamas needs (land based hotels with local employees) at unfair competition and over time it will strangle out the overnight industry in favour of the fleeting, low return, cruise model.
So just ban them!
(This is the benefit of being independent you see, the power should be used).
On multiple fronts this industry should have been asked to leave a long time ago.
On ‘Toughen oversight on cruise industry’
Posted 17 September 2020, 9:30 p.m. Suggest removal
concerned799 says...
The Bahamas needs a program like Bermuda where expats can come in to do remote work for their foreign eg. non Bahamas employer without the need for a work permit. Lithuania and Barbados have one too now.
This would provide some spending boost in the event covid vacines do not show up.
And we need a local grow program. People should be offered pay to grow for local food production, this way we do not "need" foreign reserves per se just to pay for food!
On Deputy PM: Too early to say if govt will extend unemployment benefits programme
Posted 10 September 2020, 3:39 a.m. Suggest removal
concerned799 says...
Given their enormous carbon emissions of the dirtiest fuel - Bunker C, how can cruise ships ever be green enough to ever resume operations? Its hard to see the world's remaining carbon budget having anything left in it for cheap cruises. Clear this industry should never return, its legacy of dumping at sea and avoiding regulation is a long one. Would we not be better off without it? Why are we having to chase? Shouldn't the Bahamas be back in control of its top industry - tourism?
On EDITORIAL: Swift action to protect our environment
Posted 8 September 2020, 12:36 a.m. Suggest removal
concerned799 says...
BPL will of course never be fixed under public ownership, as there is always just more money to be had from the public purse. Not till that easy train ends will the hard, difficult things be done to fix BPL.
Hard to see how anyone but BPL insiders and the power union that is basically "protected" from any form of wage/pension hardship due to said setup is doing well by the current structure. 100% of Bahamas money can not be siphoned off to the cause of BPL as is happening now/has been happening for ages now. Collective bargaining rights will still remain with a private owner. Power workers in other jurisdictions who work for private power companies are hardly "hard done by".
On BPL told to get it together
Posted 29 August 2020, 3:33 p.m. Suggest removal
concerned799 says...
Allowing oil drilling would greatly increase not decrease our contribution to climate change. So if we allow oil drilling we must be honest about it and pull out of the Paris Agreement.
You can't build LNG plants with a 50 year lifespan, and START oil drilling and an oil industry and claim any seriousness about doing anything about climate.
On Environmentalists urge reversal of oil explorer's licence extension
Posted 18 August 2020, 11:53 a.m. Suggest removal
concerned799 says...
Reducing emissions enough to avert catastrophic climate change does not allow for a 25 year fossil fuel power plant deal.
Reducing emissions enough to avert catastrophic climate change does not allow for a 25 year fossil fuel power plant deal.
Said that twice as there seems to be some belief out there by many that somehow this is not true and the Bahamas is uniquely exempted from this very scientific fact.
On Shell urges ‘timely’ power plant closing
Posted 10 August 2020, 3 p.m. Suggest removal