Topic: Ecuador: The First Country to make it's own CrytoCurrency - page 3. (Read 3221 times)
So now fiat is also "Bitcoin-like" cause most of it is also digital?
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.
I really wish it was possible to short their coin already...
lol - a few thousand % profit there for you if you could.
I like your thinking, true but still kinda sad for Ecuador.
I really wish it was possible to short their coin already...
The article said nothing about this currency being a "crypto" currency, it just said it is a "digital" currency. So it is centralised and regulated, may not have a blockchain at all. It is nothing similar to Bitcoin at all. Ecuador is borrowing Bitcoin's publicity.
yep, and after canada canceld their mintchip project, big ecuador will be successful
I think that Ireland is the first country that has own cryptocurrency 
The article doesn't clarify if it will be a real crypto like those we have on this forum, similar to bitcoins.
The article said nothing about this currency being a "crypto" currency, it just said it is a "digital" currency. So it is centralised and regulated, may not have a blockchain at all. It is nothing similar to Bitcoin at all. Ecuador is borrowing Bitcoin's publicity.
"Ecuador is developing its own electronic tender as digital currencies led by bitcoin have gained acceptance as a means of payment that have been promoted as a replacement for traditional money. Unlike Ecuador’s plan, most virtual currencies were developed as an alternative to government-backed tender."
Looks like Ecuador is going to be the first country to make it's own cryptocurrency. Thoughts?
Article: http://www.bloomberg.com/news/2014-08-05/bitcoin-like-money-is-ecuador-s-dollar-saving-plan.html
Looks like Ecuador is going to be the first country to make it's own cryptocurrency. Thoughts?
Article: http://www.bloomberg.com/news/2014-08-05/bitcoin-like-money-is-ecuador-s-dollar-saving-plan.html
There is already a thread regarding this => https://bitcointalksearch.org/topic/ecuador-to-launch-its-cryptocurrency-in-october-729106
This sounds no different from a digital coupon or voucher that is treated as cash by fiat
Certainly not independent of govt interference, so not really a decentralised digital currency, just fiat in another form
Certainly not independent of govt interference, so not really a decentralised digital currency, just fiat in another form
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.
"Ecuador is developing its own electronic tender as digital currencies led by bitcoin have gained acceptance as a means of payment that have been promoted as a replacement for traditional money. Unlike Ecuador’s plan, most virtual currencies were developed as an alternative to government-backed tender."
Looks like Ecuador is going to be the first country to make it's own cryptocurrency. Thoughts?
Article: http://www.bloomberg.com/news/2014-08-05/bitcoin-like-money-is-ecuador-s-dollar-saving-plan.html
Looks like Ecuador is going to be the first country to make it's own cryptocurrency. Thoughts?
Article: http://www.bloomberg.com/news/2014-08-05/bitcoin-like-money-is-ecuador-s-dollar-saving-plan.html
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