is this good or bad for bitcoin? i'm not really sure.
Definite good. Introduces population to digital currency. Said currency collapses. Bitcoin benefits.
Topic: Ecuador: The First Country to make it's own CrytoCurrency - page 2. (Read 3221 times)
Definite good. Introduces population to digital currency. Said currency collapses. Bitcoin benefits.
is this good or bad for bitcoin? i'm not really sure.
It just doesn't make any sense, fiat has already existed mostly in digital form for years, and what they say they will create is definitely not Bitcoin-like. Ignore it, it's just noise.
is this good or bad for bitcoin? i'm not really sure.
ultimately banks will just launch their own cryptocurrency
Lol, they don't even understand basic principles. Even if banks can do intrabank clearing with a blockchain, that doesn't equal a currency, much less a worldwide currency. You need mass decentralization for that to occur.
What makes bitcoin bitcoin is incompatible with central state control. This is to say that you can't centralize a concept that relies on decentralization as a premise and expect things to work out. A "government cryptocurrency" is just fiat by another name.
Well spoken. It's laughable that people still don't seem to fathom this. In /r/buttcoin, one of the primary arguments that Bitcoin will fail is that "ultimately banks will just launch their own cryptocurrency and back that one" as if that makes any sense.
Any country that creates a good digital currency will enable very secure distributed exchanges between said currency and bitcoin. They still have to compete with bitcoin's decentralized nature and fixed supply and free global market.
Fiat is already mostly digital, so it makes no sense when they say that they will create one like it was something new.
It's "mostly digital" in the sense that you can put whatever value you want in a cell of a spreadsheet.
Why would a government go for anything less?
Any country that creates a good digital currency will enable very secure distributed exchanges between said currency and bitcoin. They still have to compete with bitcoin's decentralized nature and fixed supply and free global market.
Fiat is already mostly digital, so it makes no sense when they say that they will create one like it was something new.
It's "mostly digital" in the sense that you can put whatever value you want in a cell of a spreadsheet.
Any country that creates a good digital currency will enable very secure distributed exchanges between said currency and bitcoin. They still have to compete with bitcoin's decentralized nature and fixed supply and free global market.
Fiat is already mostly digital, so it makes no sense when they say that they will create one like it was something new.
I think equador will be the first country with crypto currency 
Looks interesting.
Some people already prepare their mining RIG
but still no specification / name of this coin
Auroracoin is for Iceland, but not created by by government
Looks interesting.
Some people already prepare their mining RIG
but still no specification / name of this coin
I think that Ireland is the first country that has own cryptocurrency 
I thought Iceland were first with the auroacoin.
Auroracoin is for Iceland, but not created by by government
I really wish it was possible to short their coin already...
i heard mt.gox will be accepting it soon
This is probably as close as we are going to get to a country adopting a crypto as an "official" currency (even though it isn't a crypto in the Bitcoin sense of the word).
Governments by nature don't like things that they cannot control and profit off of. Governments operate off of the hard work and tax dollars of its citizens, and Bitcoin takes a good portion of that away from them...
Governments by nature don't like things that they cannot control and profit off of. Governments operate off of the hard work and tax dollars of its citizens, and Bitcoin takes a good portion of that away from them...
Fiat can't be digital in nature because its not definable in mathematical terms. The banking infrastructure that supports fiat is digital though.
Bitcoin, on the other hand....
Bitcoin, on the other hand....
I thought Iceland were first with the auroacoin.
Ecuador and all South American nations are civil law nations. This means that the governments of the respective nations can force their people - this side of complete rebellion by the people, of course - to do almost anything that they want. The United States is a common law nation along with most of Canada, and the United Kingdom. In the U.S. the people have already done the rebellion through the rebellions that the British people did over the last several hundred years, and through the fight for freedom when the United States was formed. This means that the people can legally do almost anything that they want, even to defy virtually any law the government makes. This is the reason it will be difficult for the U.S. government to legally fight Bitcoin.
Start you freedom from U.S. government persecution with these websites:
http://voidjudgments.com/ and the links at the page bottom
http://www.broadmind.org/
http://www.unkommonlaw.co.uk/
And this one is very interesting http://www.youtube.com/channel/UC5duR4OvEHHxOSdEZhANETw
Read this one slowly and digest what it is saying to you http://educationcenter2000.com/Trinsey-v-Paglario.htm
Start you freedom from U.S. government persecution with these websites:
http://voidjudgments.com/ and the links at the page bottom
http://www.broadmind.org/
http://www.unkommonlaw.co.uk/
And this one is very interesting http://www.youtube.com/channel/UC5duR4OvEHHxOSdEZhANETw
Read this one slowly and digest what it is saying to you http://educationcenter2000.com/Trinsey-v-Paglario.htm
no one will adopt it unless its decreed by law
useless digital fiat like the rest of the world already has
useless digital fiat like the rest of the world already has
Looks like Ecuador is going to be the first country to make it's own cryptocurrency. Thoughts?
Thoughts? I think this is nothing like a cryptocurrency. From the article:
Quote
A monetary authority will be established to regulate the money, which will be backed by “liquid assets.”
It appears to be just another digital fiat - just like all the other digital fiats already in circulation.
Yeah, that's sad. I think a country will try issue a cryptocurrency at some point but I'm also sure they'll probably make it centralised too.
I think that Ireland is the first country that has own cryptocurrency
auroracoin was the first. Literally no one over here knows about Gaelcoin, bitcoiners or lay people..
This would've been a great experiment if it was actually going to be a cryptocurrency but unfortunately it doesn't look like it is going to be. I'm sure it's only a matter of time before this does happen, though.
So now fiat is also "Bitcoin-like" cause most of it is also digital?
Fiat has been digital since the introduction of credit cards. Of course the reason for credit cards was to spend money that doesn't exist
What makes bitcoin bitcoin is incompatible with central state control. This is to say that you can't centralize a concept that relies on decentralization as a premise and expect things to work out. A "government cryptocurrency" is just fiat by another name.
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