The point is the IMPOVERISHED lakotas, dont actually have a full market that provides for all needs.
UNLIKE THE CITY IN UK YOU SPEAK OF.
The point is most lakotas are VERY POOR, unlike the city in the UK you speak of which has a wide range of incomes.
the point is bristol coins are a joke.. they are tied one to one the pound and you can go to the local bank, hand them pounds and get back bristol pounds or hand them bristol pounds and get back pounds.
the point is the bristol coins dont have really much to do with anything with computers.. or mining.
yeah they dont need computers.. they can get paper wallets from someone with a computer.. even though paper wallets have their own issues.. they still need someone to want to mine these things. And are dependant on us traders for the value of their currency. And could have their entire economy destroyed by a major dumper. And since there is only about 100k of these folks.. with 55k living in reservations, destroying that economy wouldnt take much btc and you really could take advantage of that when dealing with the indians to steal theri land or what ever, by crashing teh currency before purchase.
I dont have any problem with the coin but people are dreaming and it isnt even a good dream yet. There is too many systemic flaws that have to be overcome that dont even seem to be looked at yet. And promises of lifting people out of poverty without a real explanation on how that is supposed to work.. just saying "they will keep the money in the community" doesnt really mean anything. There are plenty of impoverish nations with theri own currency. AND MOST OF THEM HAVE A BIGGER MARKET THAT PROVIDE FOR ALL NEEDS AND RESOURCES THEY ACTUALLY OWN AND TAKE ADVANTAGE OF.
Every other coin that is out there other than Bitcoin (and possibly Litecoin) has absolutely no real utility. So criticizing a new coin like MazaCoin that is hasn't figured out yet how it would work is ridiculous. It is a coin that is a month old. However, it has 1/3rd the hashrate of PPC. That should tell you something.
How will it work for the Lakatas? Only time will tell. But we do know that they have (1) A casino that takes in 220 million a year. (2) A precious metal mint. So if Crypto-currencies is yet another way to revenue, then there is a lot of potential here.
This guy didn't hear Andreas Antonopoulos's plan to introduce bitcoin to the other 5/6+ billion people on the planet that aren't banked...
The lakota have much easier access to a better lifestyle and technology than pretty much any other impoverished people on the planet. They live within the USA for crying out loud. First African Americans gained their deserved rights (and to point out the wealthy African Americans in today society as well as those in political channels). Is it hard to see the life of the Native Americans improving rapidly in the coming decade?
I think rapid development of this society would more than payback with the surge of tourism that could be created. I know there is tourism already but only in heritage, these areas with a lot of development attract a lot of international tourists.
