Maybe Ecuador will start something like cojacks
http://www.thedenverchannel.com/news/local-news/business-launching-new-colorado-currency-called-cojacks
Topic: Should Ecuador be legally allowed to create their own digital currency? (Read 1642 times)
September 03, 2014, 12:13:38 AM
September 02, 2014, 12:18:48 PM
So, what I am and I believe others with even a shred of reasoning in their brains is seeing, that all is fair in "Free-market society" unless it doesn't involve bitcoins or serve your specific interests in some way?
The entitlement some people display is Fucking unbelievable...
The entitlement some people display is Fucking unbelievable...
September 02, 2014, 05:59:09 AM
Ofcourse they should be allowed to, that is like asking should BTC be allowed to exist, no? I say more power to them but best to improve upon the foundation Bitcoin has laid out. I think it could be a good way to generate money to their economy and can't blame them for trying it out.
This looks like a step in the in the right direction...
Question: Wouldn't there be a legal issue if they use Bitcoin tech (particularly blockchain tech) and not keep it open source? How would the open source license be enforced?
No.
Bitcoin is licensed under the MIT License, which does not require sharing of derived source code:
https://github.com/bitcoin/bitcoin/blob/master/COPYING
If the only library is closed source, then there's a project to make an open source one.
If the only library is GPL, then there's a project to make a non-GPL one.
If the best library is MIT, Boost, new-BSD or public domain, then we can stop re-writing it.
I don't question that GPL is a good license for operating systems, especially since non-GPL code is allowed to interface with the OS. For smaller projects, I think the fear of a closed-source takeover is overdone.
If the only library is GPL, then there's a project to make a non-GPL one.
If the best library is MIT, Boost, new-BSD or public domain, then we can stop re-writing it.
I don't question that GPL is a good license for operating systems, especially since non-GPL code is allowed to interface with the OS. For smaller projects, I think the fear of a closed-source takeover is overdone.
September 02, 2014, 05:06:13 AM
Ofcourse they should be allowed to, that is like asking should BTC be allowed to exist, no? I say more power to them but best to improve upon the foundation Bitcoin has laid out. I think it could be a good way to generate money to their economy and can't blame them for trying it out.
This looks like a step in the in the right direction...
Question: Wouldn't there be a legal issue if they use Bitcoin tech (particularly blockchain tech) and not keep it open source? How would the open source license be enforced?
September 01, 2014, 10:46:02 PM
Ofcourse they should be allowed to, that is like asking should BTC be allowed to exist, no? I say more power to them but best to improve upon the foundation Bitcoin has laid out. I think it could be a good way to generate money to their economy and can't blame them for trying it out.
September 01, 2014, 02:40:21 PM
Shit coin devs have flooded the market with hundreds of shit coins and nobody stopped them. If nobody can stop the shit coins devs then nobody can stop Ecuador. On top of that Ecuador might actually produce a coin that's not shit.
September 01, 2014, 02:34:27 PM
Well if it should and should not be is discussable. The question if you could stop them legally? Not really.
I would stop them. What they are creating isn't even a real digital currency, nor do we need one that is centralized by them.
I would stop them. What they are creating isn't even a real digital currency, nor do we need one that is centralized by them.
They're digitizing their own money. So what?
Who is 'we'? Are you from Ecuador?
Why shouldn't they upgrade their monetary system to something more efficient than cash?
September 01, 2014, 01:48:27 PM
don't get me wrong i'm not suggesting we bomb Ecuador or anything like that, I think we are a long way from there, but certainly sanctions could persuade them?
what? lol
so you say bomb?
it's the wrong thing to do straight away i think.
Ecuador can create whatever digital currency it wants, it's not yours or my business
Isn't there some sort of international law that would make this sort of thing illegal?
No 
September 01, 2014, 01:36:10 PM
Well if it should and should not be is discussable. The question if you could stop them legally? Not really.
I would stop them. What they are creating isn't even a real digital currency, nor do we need one that is centralized by them.
I would stop them. What they are creating isn't even a real digital currency, nor do we need one that is centralized by them.
September 01, 2014, 01:27:00 PM
I find it a bit laughable that the general reaction from the bitcoin community is disgust at the fact that a country is attempting to modernize its currency system.
Although it's not too surprising considering anything that remotely goes against Bitcoin is viewed with utter disdain. That includes altcoins of course.
Although it's not too surprising considering anything that remotely goes against Bitcoin is viewed with utter disdain. That includes altcoins of course.
September 01, 2014, 11:27:41 AM
don't get me wrong i'm not suggesting we bomb Ecuador or anything like that, I think we are a long way from there, but certainly sanctions could persuade them?
what? lol
so you say bomb?
it's the wrong thing to do straight away i think.
September 01, 2014, 10:41:45 AM
don't get me wrong i'm not suggesting we bomb Ecuador or anything like that, I think we are a long way from there, but certainly sanctions could persuade them?
what? lol
September 01, 2014, 10:28:40 AM
I doubt anyone could stop them doing it.
America sometimes bombs nations if it doesn't agree with their internal politics.
Sometimes ? I think they need to disarm America like they did with Germany.
I wonder who 'they' represents in your sentence. No nation on Earth can at this moment. The citizens could but won't. Are you talking about aliens?
September 01, 2014, 10:13:46 AM
Oh wait, I get it, you're looking for someone to say, "No, Ecuador should buy Quarks because there is no Mining Monopoly that controls Quark." Right?
September 01, 2014, 09:56:37 AM
Ecuador will have "In God We Trust" with an "Illuminati pyramid" all seeing eye on their fiat money before you can blink hahha
They already do, they use the US Dollar.
September 01, 2014, 08:47:31 AM
Canada had one and it was a flop and last i heard they were selling off their rights to it..
http://www.coindesk.com/canadian-government-end-mintchip-digital-currency-program/
i doubt there is much that can be done other than mock it and laugh LOL
oh and you say no bombing but that IS what happens regardless..
USA controls them or the crosshairs get put on them fast.. democracy at the barrel of a gun.
Ecuador will have "In God We Trust" with an "Illuminati pyramid" all seeing eye on their fiat money before you can blink hahha
The fact is, fiat ain't going anywhere.. so the only question is then is, how is it going to work seamlessly with their digital idea ?
http://www.coindesk.com/canadian-government-end-mintchip-digital-currency-program/
Quote
Still, MintChip was widely viewed as an alternative to bitcoin that was famously criticized by Bitcoin Foundation director Jon Matonis for “missing the point” of the technology.
i doubt there is much that can be done other than mock it and laugh LOL
oh and you say no bombing but that IS what happens regardless..
USA controls them or the crosshairs get put on them fast.. democracy at the barrel of a gun.
Ecuador will have "In God We Trust" with an "Illuminati pyramid" all seeing eye on their fiat money before you can blink hahha
The fact is, fiat ain't going anywhere.. so the only question is then is, how is it going to work seamlessly with their digital idea ?
September 01, 2014, 08:38:49 AM
I doubt anyone could stop them doing it.
America sometimes bombs nations if it doesn't agree with their internal politics.
September 01, 2014, 08:37:37 AM
think its their decision
September 01, 2014, 08:22:06 AM
http://rt.com/news/183960-ecuador-currency-digital-dollar/
Think about this:
- Not a "Crypto currency"
- Not Bitcoin
- Not able to be mined by Bitcoin ASIC
- Bitcoin can't control it. i.e its not attached to the Bitcoin Block-chain.
- Might be issued by Government not By Bitcoin ASIC holders.
Isn't there some sort of international law that would make this sort of thing illegal?
Think about this:
- Not a "Crypto currency"
- Not Bitcoin
- Not able to be mined by Bitcoin ASIC
- Bitcoin can't control it. i.e its not attached to the Bitcoin Block-chain.
- Might be issued by Government not By Bitcoin ASIC holders.
Isn't there some sort of international law that would make this sort of thing illegal?
Are you serious?
Exactly what sort of 'international law' do you think would apply here?
Why on earth would it be illegal?
Quote
don't get me wrong i'm not suggesting we bomb Ecuador or anything like that, I think we are a long way from there, but certainly sanctions could persuade them?
Why should we want to persuade them? To do what?
September 01, 2014, 08:10:35 AM
Is it a fiat digital currency without PoW mining?
it's fiat because it is by government dictate -
it's digital
and no details on the rest.
Jump to: