Topic: Hullcoin: The World’s First Local Government Cryptocurrency - page 3. (Read 5848 times)

Quote from: misternanyte on March 30, 2014, 07:06:35 AM

yes get the government involved so we can no longer have privacy and taxless transactions. Morons...

You are forgetting about one thing. Bitcoin

Governments can have their own cryprocurrency just like they have their own fiat currency.

That incentivizes larger competing governments to attack the cryptocurrencies of smaller governments to exploit them. It's better to issue colored coins on the Bitcoin blockchain for the added security. Sure, governments could use pure PoS, but that would expose them to bad agents in their own government. Colored coins can be more easily managed and recolored for economic controls.

OK, don't laugh at me but....
What are colored coins???

It is a layer over Bitcoin using metadata to issue coins as small as one Satoshi using the Bitcoin Blockchain. The color means that you add counterparty risk to back the coin. It can be anything from stock, to metals, or even fiat.

OK, sounds interesting.
Any colored coins out there?

You know, if there weren't so many people trying to compete with Bitcoin and stealing its thunder to make a quick buck, then maybe more would be actually helping with the actual Bitcoin products.

Couldn't agree with you more Wink

cbeast

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Activity: 1736

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Let's talk governance, lipstick, and pigs.

Quote from: S4VV4S on March 30, 2014, 11:53:27 AM

Quote from: cbeast on March 30, 2014, 11:52:15 AM

Quote from: misternanyte on March 30, 2014, 07:06:35 AM

yes get the government involved so we can no longer have privacy and taxless transactions. Morons...

You are forgetting about one thing. Bitcoin

Governments can have their own cryprocurrency just like they have their own fiat currency.

That incentivizes larger competing governments to attack the cryptocurrencies of smaller governments to exploit them. It's better to issue colored coins on the Bitcoin blockchain for the added security. Sure, governments could use pure PoS, but that would expose them to bad agents in their own government. Colored coins can be more easily managed and recolored for economic controls.

OK, don't laugh at me but....
What are colored coins???

It is a layer over Bitcoin using metadata to issue coins as small as one Satoshi using the Bitcoin Blockchain. The color means that you add counterparty risk to back the coin. It can be anything from stock, to metals, or even fiat.

OK, sounds interesting.
Any colored coins out there?

There are colored coin wallets to create your own, but they are still using testnet coins in beta. You know, if there weren't so many people trying to compete with Bitcoin and stealing its thunder to make a quick buck, then maybe more would be actually helping with the actual Bitcoin products. Hullcoin is another failure to understand this.

franky1

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Activity: 4424

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hullcoin should not be treated as decentralized. because the council is the miner and distributor

but hull coin has these benefits:
not using a banking system:- replaces the old banking system of databases, for a next gen system of blockchains.

no chip and pin:
no need for people to pay using card machines, meaning fruit-stall owners or butchers at the weekly market not needing pin machines and subscriptions to payment processors, all they need is a phone

local currency:
where funds do not end up going to international banks. where the distributor, agents and gateways are all people employed in the Hull area creating jobs in that area, instead of banking customer service jobs in asia, or exchange jobs in wall street. which will boost th local economy instead of making people thousands of miles away richer.

S4VV4S

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Activity: 1582

Merit: 502

Quote from: cbeast on March 30, 2014, 11:52:15 AM

Quote from: misternanyte on March 30, 2014, 07:06:35 AM

yes get the government involved so we can no longer have privacy and taxless transactions. Morons...

You are forgetting about one thing. Bitcoin

Governments can have their own cryprocurrency just like they have their own fiat currency.

That incentivizes larger competing governments to attack the cryptocurrencies of smaller governments to exploit them. It's better to issue colored coins on the Bitcoin blockchain for the added security. Sure, governments could use pure PoS, but that would expose them to bad agents in their own government. Colored coins can be more easily managed and recolored for economic controls.

OK, don't laugh at me but....
What are colored coins???

It is a layer over Bitcoin using metadata to issue coins as small as one Satoshi using the Bitcoin Blockchain. The color means that you add counterparty risk to back the coin. It can be anything from stock, to metals, or even fiat.

OK, sounds interesting.
Any colored coins out there?

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Quote from: misternanyte on March 30, 2014, 07:06:35 AM

yes get the government involved so we can no longer have privacy and taxless transactions. Morons...

You are forgetting about one thing. Bitcoin

Governments can have their own cryprocurrency just like they have their own fiat currency.

That incentivizes larger competing governments to attack the cryptocurrencies of smaller governments to exploit them. It's better to issue colored coins on the Bitcoin blockchain for the added security. Sure, governments could use pure PoS, but that would expose them to bad agents in their own government. Colored coins can be more easily managed and recolored for economic controls.

OK, don't laugh at me but....
What are colored coins???

It is a layer over Bitcoin using metadata to issue coins as small as one Satoshi using the Bitcoin Blockchain. The color means that you add counterparty risk to back the coin. It can be anything from stock, to metals, or even fiat.

S4VV4S

hero member

Activity: 1582

Merit: 502

Quote from: misternanyte on March 30, 2014, 07:06:35 AM

yes get the government involved so we can no longer have privacy and taxless transactions. Morons...

You are forgetting about one thing. Bitcoin

Governments can have their own cryprocurrency just like they have their own fiat currency.

That incentivizes larger competing governments to attack the cryptocurrencies of smaller governments to exploit them. It's better to issue colored coins on the Bitcoin blockchain for the added security. Sure, governments could use pure PoS, but that would expose them to bad agents in their own government. Colored coins can be more easily managed and recolored for economic controls.

OK, don't laugh at me but....
What are colored coins???

Meuh6879

legendary

Activity: 1512

Merit: 1012

Quote from: S4VV4S on March 30, 2014, 06:23:58 AM

whose value will be based on Bitcoin.

i don't think so ...

tinus42

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Why didn't they buy a Gridseed miner which can do 350 MHS and is uses way less power than their 1.6 MHS GPU rig? Also better for the environment (which local governments always proclaim to care so much about). Roll Eyes

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Quote from: misternanyte on March 30, 2014, 07:06:35 AM

yes get the government involved so we can no longer have privacy and taxless transactions. Morons...

You are forgetting about one thing. Bitcoin

Governments can have their own cryprocurrency just like they have their own fiat currency.

That incentivizes larger competing governments to attack the cryptocurrencies of smaller governments to exploit them. It's better to issue colored coins on the Bitcoin blockchain for the added security. Sure, governments could use pure PoS, but that would expose them to bad agents in their own government. Colored coins can be more easily managed and recolored for economic controls.

Operatr

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www.DonateMedia.org

This here is the secret sauce of implementing cryptocurrencies in real communities.

I find it interesting and great that helping the impoverished is a critical point of this project, and they decided a blockchain was the way to go over another fiat type currency like the Brixton. More power to them!

luv2drnkbr

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Quote from: misternanyte on March 30, 2014, 07:06:35 AM

yes get the government involved so we can no longer have privacy and taxless transactions. Morons...

Yeah but if there's government coins, then completely decentralized anonymous markets to move in and out of bitcoin from govcoin are possible. It makes the current point of privacy failure (exchanges) go away completely.

Govcoins would be really really good for bitcoin, because it would be so easy to maneuver in and out of govcoins. And of course, literally everybody would get used to using crypto-coins.

Govcoin would be amazingly good news.

misternanyte

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