Lithuania President gifted crypto to Estonian President. - page 2.

smyslov

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Quote from: LeGaulois on August 15, 2020, 05:45:12 PM

It's not a cryptocurrency, it's a digital currency, there is a difference. They make use of the word crypto because it's swag in 2020.
But in reality, it's a state currency and not P2P without a central bank. You can buy it from the Bank of Lithuania and if I'm correct you can not store it, the B of L does it on your behalf.
It's a coin for numismatists I think.

It's like if you buy a car and the seller tells you: "You bought it but the car stays here"

There's no LBCOIN in the market and the tweet confirm that It's a coin for numismatists it's more of a memorabilia coin but it's very much close to Cryptocurrency I guess they have an idea on Cryptocurency maybe one day they will create their own Cryptocurrency since they are promoting this stuff.

DarkDays

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Definitely a nice thing to see.

Both Lithuania and Estonia have put in a great deal of time, money, and effort to position themselves as global hotspots for blockchain talent and startups.

I think that these two countries, along with Switzerland (Zug in particular) are going to reap the rewards of being early on the blockchain race, and should see their investments pay off in a droves in the near future.

If only we could see US President Donald Trump and Chinese President Xi Jinping do something similar Grin

cheezcarls

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Quote from: HodlerKing101 on August 15, 2020, 04:45:50 PM

Source - https://twitter.com/GitanasNauseda/status/1294313726359875585

When do we hear news of presidents gifting cryptocurrency to a fellow-president? I hope he installs any ledger wallets and becomes a fanatic! Cheesy

IMO, making it easy for these businesses to use blockchain/crypto is key, some of these kiddos still have no idea about the technology too. I hope simple integrations as what NEM Symbol APIs have done with Lithuania's President can open more doors.

It’s a rare moment in the crypto space where two presidents from different countries are sending and receiving crypto from each other. In this act alone, it promotes a huge step towards mass adoption and awareness of cryptocurrencies and blockchain technology in both Lithuania and Estonia.

Here in the Philippines, it’s a crypto-friendly country but image and reputation are ruined because of these scammers using crypto as front to lure more victims into their trap. I could imagine if our president himself was also gifted with Bitcoin, it would be huge awareness for us.

Yaunfitda

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Quote from: Shasha80 on August 17, 2020, 03:37:28 AM

Unfortunately, the Lithuanian president did not give a gift in the form of popular crypto to the President, but instead a collectible
crypto called LBCOIN. Although it is not a sign of adoption for Bitcoin, at least blockchain technology is gaining in popularity. I hope
it's Bitcoin's next turn which is used as a gift, if presidents between countries give each other Bitcoin as a gift it will be much more
interesting news.

But still we crypto enthusiast consider this as a sign that crypto is being recognized by those two nations. Blockchain technology is also very popular on those baltic states, and it seems that their government is really advance and very liberal in terms of their support to crypto or blockchain. And if you live on those countries, you are very lucky, unlike some other states around EU that has some sort of negativity towards crypto and thinks that it is being used only by criminals.

Shasha80

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Unfortunately, the Lithuanian president did not give a gift in the form of popular crypto to the President, but instead a collectible
crypto called LBCOIN. Although it is not a sign of adoption for Bitcoin, at least blockchain technology is gaining in popularity. I hope
it's Bitcoin's next turn which is used as a gift, if presidents between countries give each other Bitcoin as a gift it will be much more
interesting news.

Mauser

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Quote from: Vishnu.Reang on August 17, 2020, 01:54:37 AM

The EU nations in general have some of the most liberal cryptocurrency laws, when compared to the United States or Latin America. And it is surprising because only a small fraction of the cryptocurrency ventures (cryptocurrency exchanges, investment sites.etc) are based in Europe. Even if you look at the ICO sector, only a few are based in the European Union.

Also the baltic nations are highly advanced in terms of internet. Due to adopting the EUR and being heavily funded by the European Union the countries got their infrastructure completely newly build in the last years. It's very good for the small nations with a small population to be in the EU because they get proportionaley higher benefits and voting rights.

Estonia is rank #13 and Lithuania rank #21 in the Digital Quality of Life Index.

https://en.delfi.lt/lifestyle/lithuania-rises-to-21st-position-in-digital-quality-of-life-rating.d?id=84998193

No wonder that crypto currencies become even attractive for the presidents.

Vishnu.Reang

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The EU nations in general have some of the most liberal cryptocurrency laws, when compared to the United States or Latin America. And it is surprising because only a small fraction of the cryptocurrency ventures (cryptocurrency exchanges, investment sites.etc) are based in Europe. Even if you look at the ICO sector, only a few are based in the European Union.

AniviaBtc

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This kind of news should be broadcast in public so people will know that bitcoin is a good asset.

An open minded leader is a key to success, if he understands us, those people who are using cryptocurrency, then this can bring a huge advantage in the future. This is a positive action and mindset that a leader should have, it will probably make a good reputation for bitcoin although it has really a good advantages and benefits to the people.

Proper manipulation, adoption, and utilization can increase and widen our community so always promote and support it in everyday lives.

EdenHazard

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Quote from: Oasisman on August 16, 2020, 04:47:58 PM

I don't know but I think this collectors digital currency is different from a usual cryptocurrency. I mean that LBCoin is a state-backed digital currency and It has physical forms they call it a silver coin that resembles like a credit card. You can even buy it in the bank of Lithuania.
However, it's a blockchain based currency, so that makes it more of a cryptocurrency, but I really doubt LBCoin has different purpose from a usual cryptocurrency.

yupp we heard that at least it lift up the cryptocurrency in it .. the rumor has it that these digital collector LBcoin launched on purpose to see whether are they really need to issue a real digital currency that works just like fiat.

I love seeing this kind news , a progressive one to turn cryptocurrency into a mainstream world.

Wishing that more European banks doing the same on developing blockchain technology through cryptocurrency, they would do it I'm sure. Just the matter of the time tho.

Rengga Jati

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It is actually not surprising because those two countries are open and welcome to the cryptocurrency world. As we can see in these following.

Quote

Lithuania is one of few EU/EEA jurisdiction having clear and transparent cryptocurrency regulation.

Quote

Cryptocurrency regulations in Estonia are open and innovative, especially in comparison to other EU member-states. Although not legal tender, Estonia's government regards cryptocurrencies as “value represented in digital form”.

However, of course, this can be one of the inspirations for many more countries that cryptos are actually acceptable. Even there may be not certain regulations, the acceptance of crypto in each country will support the development and also adoption of the crypto or even the blockchain technology. Many sectors can utilize the crypto or blockchain technology, moreover related to the business. As you said, it will be very useful.

https://complyadvantage.com/knowledgebase/crypto-regulations/cryptocurrency-regulations-estonia/
https://www.ecovis.com/lt/fintech/licensing-solutions-blockchain-cryptocurrency-tokens-ico/

Mahanton

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Quote from: SquallLeonhart on August 16, 2020, 04:17:39 PM

I do not really understand what the intention was here but I think this is a great way to increase adoption. If one nation allows bitcoin or generally speaking crypto to exist in that nation with full support and spreads that same feeling towards other nations as well that is a great thing.

The first thing a president or anyone who is in the lawmaking process hears about crypto is a very important thing, if they hear about it like "hey there is this new thing called crypto and it is great because..." that would make them be more supportive unless given any other reason, however if they hear "there is this new thing called crypto and it is horrible because..." they would be against it until given a reason not to and that would take us longer time to make them accept it.

A good start up if they do able to see cryptocurrencies actual usage and benefits compared into its cons or negatives but we know that these kind of positive approaches can turn upside down
one day thats why im not really that much excited nor hoping that they will really be going on positive inputs towards crypto but since they had started positively then most likely they would end up
on reconsidering this one.Its really a good news for adoption, further recognition will vary on how they would research things up even more and imply it into their vicinity.
Its a good step imho.

Kemarit

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Quote from: SquallLeonhart on August 16, 2020, 04:17:39 PM

I do not really understand what the intention was here but I think this is a great way to increase adoption. If one nation allows bitcoin or generally speaking crypto to exist in that nation with full support and spreads that same feeling towards other nations as well that is a great thing.

I think the intention is very simple, promote bitcoin in there country, imagine Obama gifted Trump crypto I'm sure it will send a strong signal to the whole world.

Quote from: SquallLeonhart on August 16, 2020, 04:17:39 PM

The first thing a president or anyone who is in the lawmaking process hears about crypto is a very important thing, if they hear about it like "hey there is this new thing called crypto and it is great because..." that would make them be more supportive unless given any other reason, however if they hear "there is this new thing called crypto and it is horrible because..." they would be against it until given a reason not to and that would take us longer time to make them accept it.

First, Estonia is very small compare to other EU nations and maybe that's one reason they started to welcome to attract investors. Second, it looks like very successful move at they have attracted a lot of startups with their progressive approach. However, they are amendments on their crypto regulations, it strict so I don't know if projects are going to move there or choose other crypto friendly nations. Specially with the money laundering scandal that rocks EU recently. But it still good that they remain very supported of bitcoin and blockchain technology.

Oasisman

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I don't know but I think this collectors digital currency is different from a usual cryptocurrency. I mean that LBCoin is a state-backed digital currency and It has physical forms they call it a silver coin that resembles like a credit card. You can even buy it in the bank of Lithuania.
However, it's a blockchain based currency, so that makes it more of a cryptocurrency, but I really doubt LBCoin has different purpose from a usual cryptocurrency.

SquallLeonhart

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I do not really understand what the intention was here but I think this is a great way to increase adoption. If one nation allows bitcoin or generally speaking crypto to exist in that nation with full support and spreads that same feeling towards other nations as well that is a great thing.

The first thing a president or anyone who is in the lawmaking process hears about crypto is a very important thing, if they hear about it like "hey there is this new thing called crypto and it is great because..." that would make them be more supportive unless given any other reason, however if they hear "there is this new thing called crypto and it is horrible because..." they would be against it until given a reason not to and that would take us longer time to make them accept it.

TimeTeller

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Quote from: ?? on ??

Estonia is one of the country which has integrated everything into blockchain technology. Following the technology advancement more countries have been into the usage of blockchain technology. Lithuania President gifting crypto to the Estonian President is a good move in the cryptospace for better adoption all around the globe.

A lot of blockchain and crypto exchange projects have sought their Estonian license because of the ease of getting from them.
So this small gesture is not surprising and the Estonian President I assume, he is open arms with crypto projects.
I hope those countries that are still banning crypto will change their minds and be accommodating with crypto transactions.
In general, this will benefit their citizens now that we are still in crisis. People need to find alternatives on how to earn money.

hatshepsut93

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Quote from: NavI_027 on August 15, 2020, 11:30:14 PM

Cool nonetheless. I think what is more important for us to see is that Lithuania and Estonia's president initiate dealing with the blockchain tech. Take note that those two are not just ordinary people, they are presidents — the man with greatest influence within a country. Thus I'm feeling good about this, their citizens will surely get triggered by this news and now get into crypto as well. And as a result, our community will grow further

.

I'm pretty sure that most Estonians and Lithuanians, like any other people on Earth, don't tract every single movement of their president and don't immediately follow any trend proposed by their president. It's very common in crypto to expect some adoption boost whenever crypto gets new publicity, but practice shows that it never happens. If you go to google trends, there's absolutely no correlation between this event and search terms like blockchain or bitcoin in Lithuania or Estonia.

Latviand

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If this connection really continues to affect more world leaders, bitcoin community will celebrate!

This is a unique gifts between two Presidents and what we need right now is adoption, and this is a sign for it.

I think their next step should be making transactions with the use of bitcoin, or making the economy grow with the use of cryptocurrencies. Hopefully, all of the presidents are knowledgeable about the benefits and importance of bitcoin in our economy and community. Still there are a lot of people who are thinking that bitcoin is a fraud, which is not.

Leviathan.007

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Exciting to see such news, maybe is this just small step but in my own idea after increasing the crypto and bitcoin reputation in all over the world we will see more governments, investors and political men attracting to with magical world. After increasing the attraction we can see more capital on this market, hopefully.

Jating

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No surprise though, as Lithuania is one of the Baltic tigers that are really open and very welcoming to crypto. And this gestures really proved that. And it seems that the country is really moving to a 'right direction' with this adoption specially blockchain technology.

Again, this is something that we should anticipate, and with this move I'm sure adoption on that country will continue to grow in the next coming years.

But make no mistakes about it, they are friendly to crypto, but they have crypto regulations even stricter than the EU's.

electronicash

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yep its not the first time where famous people had been on the news about their involvement in crypto. just recently their twitter accounts were hacked and was used to scam through the giveaways. but we haven't yet heard of the head of the country. its best if its BTC though and not some other token.

Quote from: ?? on ??

Estonia is one of the country which has integrated everything into blockchain technology. Following the technology advancement more countries have been into the usage of blockchain technology. Lithuania President gifting crypto to the Estonian President is a good move in the cryptospace for better adoption all around the globe.

so we hear. i remember some developers from that country AFAIK that were developing tokens. LBCoin is created by a bank though.

Topic: Lithuania President gifted crypto to Estonian President. - page 2. (Read 525 times)