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Topic: Hullcoin: The World’s First Local Government Cryptocurrency - page 3. (Read 5789 times)

hero member
Activity: 1582
Merit: 502
yes get the government involved so we can no longer have privacy and taxless transactions. Morons...

You are forgetting about one thing. Bitcoin Smiley
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
donator
Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
yes get the government involved so we can no longer have privacy and taxless transactions. Morons...

You are forgetting about one thing. Bitcoin Smiley
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.
legendary
Activity: 4214
Merit: 4458
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.




hero member
Activity: 1582
Merit: 502
yes get the government involved so we can no longer have privacy and taxless transactions. Morons...

You are forgetting about one thing. Bitcoin Smiley
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?

donator
Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
yes get the government involved so we can no longer have privacy and taxless transactions. Morons...

You are forgetting about one thing. Bitcoin Smiley
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.
hero member
Activity: 1582
Merit: 502
yes get the government involved so we can no longer have privacy and taxless transactions. Morons...

You are forgetting about one thing. Bitcoin Smiley
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???
legendary
Activity: 1512
Merit: 1011
whose value will be based on Bitcoin.

 Grin i don't think so ...
hero member
Activity: 784
Merit: 501
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
donator
Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
yes get the government involved so we can no longer have privacy and taxless transactions. Morons...

You are forgetting about one thing. Bitcoin Smiley
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.
hero member
Activity: 798
Merit: 1000
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!
hero member
Activity: 793
Merit: 1016
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.
member
Activity: 79
Merit: 10
yes get the government involved so we can no longer have privacy and taxless transactions. Morons...

You are forgetting about one thing. Bitcoin Smiley
Governments can have their own cryprocurrency just like they have their own fiat currency.

Does that stop you from using Bitcoin?  Wink

when did I say it did? I'm simply making the point that government having anything to do with money is a big no no. It's evil...
hero member
Activity: 1582
Merit: 502
http://www.coindesk.com/hullcoin-worlds-first-local-government-cryptocurrency/

I can just see it happening.....
Most governments will create their own cryptocurrency (altcoins) whose value will be based on Bitcoin.


haha, you are very (or too) optimistic  Cheesy

True, but then again...
What are the governments options?

legendary
Activity: 1148
Merit: 1011
In Satoshi I Trust
http://www.coindesk.com/hullcoin-worlds-first-local-government-cryptocurrency/

I can just see it happening.....
Most governments will create their own cryptocurrency (altcoins) whose value will be based on Bitcoin.


haha, you are very (or too) optimistic  Cheesy
donator
Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
Good idea, but poor execution. They should be issuing colored coins.
sr. member
Activity: 308
Merit: 250
I grew up in Lewes (mentioned in the article). I forgot about our Lewes pound! It was a total pump and dump! They were selling for up to £20 on eBay at one point. People just snapped them all up and sold them out of town. Haha!

Yeah,but it's pegged at 1 pound now, I think. But according to the Wiki article,only 130 odd businesses accept it,so that's not widespread adoption certainly.

Living in Hull, this has peaked my interest more than most. Knowing our council, they'll manage to mess it up at some point, though.

Yeahh,go Rob Karen,go Hull City!  Tongue
hero member
Activity: 1582
Merit: 502
I grew up in Lewes (mentioned in the article). I forgot about our Lewes pound! It was a total pump and dump! They were selling for up to £20 on eBay at one point. People just snapped them all up and sold them out of town. Haha!

Did it have the queens face on?  Grin Grin Grin Grin

hero member
Activity: 1582
Merit: 502
Living in Hull, this has peaked my interest more than most. Knowing our council, they'll manage to mess it up at some point, though.

That is an international issue.
I have yet to meet a competent government.

Have you?

hero member
Activity: 682
Merit: 500
I grew up in Lewes (mentioned in the article). I forgot about our Lewes pound! It was a total pump and dump! They were selling for up to £20 on eBay at one point. People just snapped them all up and sold them out of town. Haha!
hero member
Activity: 587
Merit: 500
Living in Hull, this has peaked my interest more than most. Knowing our council, they'll manage to mess it up at some point, though.
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