Getting rid of cash is the most stupid thing a country could do. It makes your whole economic infrastructure dependent on the power grid AND network infrastructure. For both you can't guarantee 100% uptime. Cryptos complement cash, not replace it.
All this discussion by central banks is focusing on how to upgrade the existing system to compete against bitcoin but not how to work with bitcoin to make a better system
It's like they have shut out the possibility of using bitcoin/ auroracoin to their advantage from the start.
Based on the statements from the central bank of iceland it looks like they will completely ignore the possibilities of using auroracoin as a asset to back the krona.
When it comes to influence why not create a protest movement that demands the cB buys auroracoin
Hi adamastor,
Your comments have been more insightful lately then in the past. My compliments for that. We had some internal discussion regarding this CB meeting. This also shows that the foundation is positioning themselves as an authority on crypto/blockchain tech. I think this is a good development. It also shows the CB is a bit clueless on what can be done and what should be not (hence my previous comment). Even if the CB releases their own "i-krona" blockchain, they have the same trust record regarding ISK in terms of financial stability (which is poor and is the reason why AUR exists in the first place).
For now I don't see the CB people as the bad guys and I consider all options open. Mind that these are just initial talks.
Though it's good that the interest and discussion about cryptocurrencies is getting stronger here in Iceland adamastor is on the right track here. They are not about to try and implement a decentralised, fixed cap cryptocurrency here (which in my opinion is the only two factors that make Bitcoin and derived coins unique as an electronic currency). What they would do is to strip those factors out so for one they could centrally control it, at least it would not come to a community consensus when faced with changes. They would always make sure that they would be able to enforce their will and secondly they are scared of the idea of a fixed cap currency. Their ideas involve a fixed, predetermined and permanent (till they feel otherwise) inflation into the currency.
IMHO these changes to a cryptocurrency break the very concept of Bitcoin. These two factors I mentioned of fixed money supply and a decentralisation where the community leads the way are an essential to our cause. Yes I called it a cause as to me that is what Auroracoin is. It's our opportunity, the oppressed to take control out of the hands of the oppressors (dramatic words I know but to me it's accurate) and we should not accept a solution from the guardians of this system we have in place now that is designed to keep us slaves of dept, where the only advantage we have is stripped out and we are left with the same arrangement we have now, only with a blockchain to run it.
I do not consider the Central Bank to be an enemy, it's just a institute full of people that are themselves (mostly) slaves of dept but they are working for this institute that was set up to guard the system we want removed. So in reality for the CB to accept cryptocurrencies in their natural form would be like for them to accept that their own existence is needless. Of course there would always be institutes to try to regulate and stabilise the currency and economy but it would not operate in the form a CB does today. I do applaud that they are looking more into cryptocurrencies and I think it will be beneficial to us in the end.
At some point the cB must see that putting auroracoiN on their balance sheet will have massive benefits for Iceland.
How ever the cb has massive debt with the IMF and most decisions aren't even made by icelandic bankers but the imf and nato instead
The cB will make every excuse possible not to buy auroacoin and go on a scare campaign to dissuade people from using auroracoin.
I think the goal of replacing the krona with Auroracoin is technically very difficult and the complexity of the process will meet resistance from average citizensure.
A more direct goal could be to pressure the cB to buy auroracoin as a reserve asset for the krona enriching everyone who holds the krona and everyone who has auroracoin as well.
This could also become a very simple target for a protest movemeMt.
