Laxmicoin failed, so did Kashmir coin, if this is 'yet another altcoin' what makes it any different ?
When did laxmicoin come out? ROFL, I thought that the coin was still in development(and I hoped to see some new innovations in it), but did it fail so badly that we weren't even able to notice it failing?
Laxmicoin failed because, it couldn't head fake active national nodes. Apart from that, they didn't have comprehensive marketing, adaption and propaganda in place. It takes country to create a Bitcoin like successful currency.
Bitcoin being a global crypto has a very less impact in India, and not many people are involved in this space. I really doubt a national cryptocurrency would have much impact as most of the people who have used Bitcoin, would probably still stick with bitcoin and just like Bitcoin it would never be accepted by most of the financial institutions. I doubt any national crytp has been successful for long in any of the other countries.
Well what the OP said is very vague, I am not even sure what he implied with his post; so lets not get ahead of ourselves.
If a national cryptocurrency was invented then the fees of buying bitcoin from exchanges outside of India could be reduced if not avoided altogether, provided the crypto we come up with is accepted in other exchanges and is easily obtainable through more
desi means.
Let me help you with implication of post: Dude, I've vague information about national cryptocurrency and I'm excited about it. I sincerely request you to take time to understand financial intricacies in order to better understand importance, need and impact of national crypto-currency when it is launched in near future. Yes, it is sure to fail. But, 'collective will' might create a palpable change.
As far as, "
never accepted by most of financial institutions" is concerned, its been only few years. Give it sometime! You might be surprised to know, hedge funds faced much harsh criticism and backlash then Bitcoin when it was launched. Acceptance by financial institution is not matter to worry about. Most of the national crypto-currency failed because active participant couldn't see bigger picture or reality beyond propaganda. National crypto currency are inevitable. Our support will play crucial role and impact on economic drain.
I'm sorry! I bothered you people.
Continue with your stimulating discussions!
