Sweden considering a digital currency, bitcoin technology comes in mind.

garytheasshole

full member

Activity: 406

Merit: 105

Chosŏn Minjujuŭi Inmin Konghwaguk

Quote from: dothebeats on September 30, 2017, 12:53:38 AM

Quote from: countryfree on September 26, 2017, 12:26:20 PM

No! Don't dream of that!

Sweden is a communist country with some of the most aggressive tax policies in the world. I bet Sweden would rather outlaw BTC, or force all people to reveal what cryptocurrencies they own. The disappearance of cash in Sweden is because the government wants to control and record all transactions. Maybe they will create their own crypto, but you can be sure they will never allow the rise of a currency they can't control.

Yup. Sweden is known for its progressive personal income tax, with a staggering 31% up to 60% in the current times. Most Swedes are happy with this since they are getting the most out of what they're paying, though for people who are conscious for their spending, this might not be a good idea. Cryptocurrency for Sweden means that recording every single transaction happening around their country that can be taxed. The Swedes are okay with their tax policy so maybe it can be a good thing for Sweden in general.

They were also OK with eugenics and incest so fuck them.

https://en.wikipedia.org/wiki/Compulsory_sterilisation_in_Sweden

dothebeats

legendary

Activity: 3542

Merit: 1352

Quote from: countryfree on September 26, 2017, 12:26:20 PM

No! Don't dream of that!

Sweden is a communist country with some of the most aggressive tax policies in the world. I bet Sweden would rather outlaw BTC, or force all people to reveal what cryptocurrencies they own. The disappearance of cash in Sweden is because the government wants to control and record all transactions. Maybe they will create their own crypto, but you can be sure they will never allow the rise of a currency they can't control.

Yup. Sweden is known for its progressive personal income tax, with a staggering 31% up to 60% in the current times. Most Swedes are happy with this since they are getting the most out of what they're paying, though for people who are conscious for their spending, this might not be a good idea. Cryptocurrency for Sweden means that recording every single transaction happening around their country that can be taxed. The Swedes are okay with their tax policy so maybe it can be a good thing for Sweden in general.

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

Quote from: Rinaze on September 29, 2017, 11:21:42 PM

Someone need to start first I guess and the rest will follow suit if things all goes well! Would be cool being the first one as well Cool

they are not the first!
there has been a lot of talk and the same "consideration" to start a digital currency using the bitcoin blockchain technology. you can search among the news to find all of these cases of different countries, different banks or even some financial firms talk about creating their own crypto currency.
they all just going to be some ledger they use for their purposes and won't be like bitcoin at all.

Juggy777

hero member

Activity: 2646

Merit: 686

Quote from: zycrypto on September 26, 2017, 10:42:05 AM

Sweden’s are reportedly not making active use of cash this year has also been recorded as the lowest level of banknote usage over the past 30 years.

In a press release from the world’s oldest central bank of sweden ,Sveriges riksbank, they stated that..

"Today, cash is used to an ever-decreasing extent in Sweden, which has led us within the
world of central banking to start considering whether a digital complement to cash that is
guaranteed by the state is needed so that we will be able to promote a safe and efficient
payment system in the future too"

Read More=> https://zycrypto.com/sweden-considering-digital-currency-bitcoin-comes-mind/

I feel there is a growing trend among countries to cash on demand of cryptos and that's why they want to eliminate cash and get cryptos. Now the only problem is what they fail to understand is, that people love Bitcoins cause it increases in value and it's decentralised, no one loves a centralised coin, and that's going to hurt them cause barely people will engage in it, let them try and we all shall witness their epic failure.

Kprawn

legendary

Activity: 1904

Merit: 1074

Sweden has been one of the strongholds for Bitcoin, since the start. It would be a sad day, if they suddenly started to use a

Alt coin, instead of Bitcoin. They already have a broad Bitcoin based merchant network and also a lot of Bitcoin ATM's installed

all over the place. I hope they use Bitcoin instead of any other Alt coin or even worst, a "Private" Blockchain. Shocked

Rinaze

full member

Activity: 322

Merit: 100

Someone need to start first I guess and the rest will follow suit if things all goes well! Would be cool being the first one as well Cool

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: pugman on September 29, 2017, 10:19:57 PM

Quote from: zycrypto on September 26, 2017, 10:42:05 AM

Sweden’s are reportedly not making active use of cash this year has also been recorded as the lowest level of banknote usage over the past 30 years.

In a press release from the world’s oldest central bank of sweden ,Sveriges riksbank, they stated that..

"Today, cash is used to an ever-decreasing extent in Sweden, which has led us within the
world of central banking to start considering whether a digital complement to cash that is
guaranteed by the state is needed so that we will be able to promote a safe and efficient
payment system in the future too"

Read More=> https://zycrypto.com/sweden-considering-digital-currency-bitcoin-comes-mind/

They haven't mentioned crypto any where, there is a teeny tiny possibility of Sweden considering using bitcoin for payment, but there exists a bigger possibility of them developing a crypto of their own and circulate it within their economy or something similar to that. Sweden even though is considered to be a small economy, if they take a big step like this, maybe,just maybe other economies might do the same thing.

Maybe people out there likes to used this credit card, so Sweden one day will become a cash less society. Well maybe they are considering to have their own digital currency, maybe not. But I'm pretty sure that its either credit card or bitcoin being used by most of them. If they adopt and legalizes bitcoin same as Japan, then it would be a huge news to the bitcoin community and for sure the price could go up once again.

Switzerland, Sweden, those small country are taking a big step regarding the used of crypto currency which other nation should adopt. They don't need to be afraid of it, just enough regulations will do.

Realist247

full member

Activity: 154

Merit: 105

Quote from: countryfree on September 26, 2017, 12:26:20 PM

No! Don't dream of that!

Sweden is a communist country with some of the most aggressive tax policies in the world. I bet Sweden would rather outlaw BTC, or force all people to reveal what cryptocurrencies they own. The disappearance of cash in Sweden is because the government wants to control and record all transactions. Maybe they will create their own crypto, but you can be sure they will never allow the rise of a currency they can't control.

This is wisdom. All other countries will follow. Fanatics need to pay attention to this reality.

pugman

legendary

Activity: 2383

Merit: 1551

dogs are cute.

Quote from: zycrypto on September 26, 2017, 10:42:05 AM

Sweden’s are reportedly not making active use of cash this year has also been recorded as the lowest level of banknote usage over the past 30 years.

In a press release from the world’s oldest central bank of sweden ,Sveriges riksbank, they stated that..

"Today, cash is used to an ever-decreasing extent in Sweden, which has led us within the
world of central banking to start considering whether a digital complement to cash that is
guaranteed by the state is needed so that we will be able to promote a safe and efficient
payment system in the future too"

Read More=> https://zycrypto.com/sweden-considering-digital-currency-bitcoin-comes-mind/

They haven't mentioned crypto any where, there is a teeny tiny possibility of Sweden considering using bitcoin for payment, but there exists a bigger possibility of them developing a crypto of their own and circulate it within their economy or something similar to that. Sweden even though is considered to be a small economy, if they take a big step like this, maybe,just maybe other economies might do the same thing.

jekjekman

sr. member

Activity: 378

Merit: 250

Quote from: zycrypto on September 26, 2017, 10:42:05 AM

Sweden’s are reportedly not making active use of cash this year has also been recorded as the lowest level of banknote usage over the past 30 years.

In a press release from the world’s oldest central bank of sweden ,Sveriges riksbank, they stated that..

"Today, cash is used to an ever-decreasing extent in Sweden, which has led us within the
world of central banking to start considering whether a digital complement to cash that is
guaranteed by the state is needed so that we will be able to promote a safe and efficient
payment system in the future too"

Read More=> https://zycrypto.com/sweden-considering-digital-currency-bitcoin-comes-mind/

I really don't know why is it that they are wanting to use e-cash now more than their own Fiat currency as Swedish Krona has a good amount of value though, it seems that most of the establishment there are already accepting digital payments and at the same time with digital currencies and with that the circulations of their own Swedish Krona is in jeopardy.

Let's wait what will happen to their Swedish Krona in converting to digital currency as they want to make an 'e-krona' but tend to support bitcoin for future of their digital payments, then this will be an another good news for the bitcoin community as one nation is thinking in adopting cryptocurrencies instead of banning it.

Herbert2020

legendary

Activity: 1946

Merit: 1137

Quote from: Simple_Man on September 26, 2017, 12:44:30 PM

Quote from: zycrypto on September 26, 2017, 10:42:05 AM

Sweden’s are reportedly not making active use of cash this year has also been recorded as the lowest level of banknote usage over the past 30 years.

In a press release from the world’s oldest central bank of sweden ,Sveriges riksbank, they stated that..

"Today, cash is used to an ever-decreasing extent in Sweden, which has led us within the
world of central banking to start considering whether a digital complement to cash that is
guaranteed by the state is needed so that we will be able to promote a safe and efficient
payment system in the future too"

Read More=> https://zycrypto.com/sweden-considering-digital-currency-bitcoin-comes-mind/

As expected, I didn't find any mention of bitcoin in the statement. Nor they have spoken about blockchain technology. They are saying about a digital complement to cash that is guaranteed by the state. So they probably will come up with a digital unit to be used for online transaction which will strictly centralized and monitored by the government. So no one would be able to mine that currency, they will have to earn it by exchanging their fiat currency or through salary. I don't see much of hope there!

usually when they are talking about "digital form of currency" these days they mean the blockchain technology or one of its subcategories that spawned from it.
but it always is a centralized usage of the blockchain technology no matter what. that is how the banks and government and a country issued currency should always work. which is why bitcoin will always have that edge.

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

Quote from: zycrypto on September 26, 2017, 10:42:05 AM

a digital complement to cash that is
guaranteed by the state is needed Read More=> https://zycrypto.com/sweden-considering-digital-currency-bitcoin-comes-mind/

So what they are saying is, if this digital cash is controlled by them, it would benefit them. Bitcoin will not be under their control, because it is based on public consensus. You can also expect them to finance research into some Private Blockchain technology that they control and when this is finalized, they would start to ban other Crypto currencies. < eliminating the competition >

I was very exited when I first saw the Swedes being Bitcoin-friendly, but this might change soon. ^sad^

bitart

hero member

Activity: 1442

Merit: 629

Vires in Numeris

Quote from: sharkbaitzero on September 26, 2017, 01:10:21 PM

Quote from: zycrypto on September 26, 2017, 10:42:05 AM

Sweden’s are reportedly not making active use of cash this year has also been recorded as the lowest level of banknote usage over the past 30 years.

In a press release from the world’s oldest central bank of sweden ,Sveriges riksbank, they stated that..

"Today, cash is used to an ever-decreasing extent in Sweden, which has led us within the
world of central banking to start considering whether a digital complement to cash that is
guaranteed by the state is needed so that we will be able to promote a safe and efficient
payment system in the future too"

Read More=> https://zycrypto.com/sweden-considering-digital-currency-bitcoin-comes-mind/

Japan creating J coin, too

Both Sweeden and Japan will develop their own digital fiat currency, but without the blockchain technology. Or, if they use blockchain technology, it will be centralized. Maybe the commercial banks will run the nodes in the country, so it can be a blockchain like system, but central banks are interested only in centralized models, just to make sure they not lose their influence on the country's money.

sharkbaitzero

newbie

Activity: 3

Merit: 0

Quote from: zycrypto on September 26, 2017, 10:42:05 AM

Sweden’s are reportedly not making active use of cash this year has also been recorded as the lowest level of banknote usage over the past 30 years.

In a press release from the world’s oldest central bank of sweden ,Sveriges riksbank, they stated that..

"Today, cash is used to an ever-decreasing extent in Sweden, which has led us within the
world of central banking to start considering whether a digital complement to cash that is
guaranteed by the state is needed so that we will be able to promote a safe and efficient
payment system in the future too"

Read More=> https://zycrypto.com/sweden-considering-digital-currency-bitcoin-comes-mind/

Japan creating J coin, too

Tumanggor

full member

Activity: 1050

Merit: 109

1xBit.. recovered their reputation

there may be a hidden purpose of the Swedish government, to record the finances of the population or indeed they want to do a revolution in the finance, but whatever the reason, one step ahead by swedish ..

garytheasshole

full member

Activity: 406

Merit: 105

Chosŏn Minjujuŭi Inmin Konghwaguk

Quote from: countryfree on September 26, 2017, 12:26:20 PM

No! Don't dream of that!

Sweden is a communist country with some of the most aggressive tax policies in the world. I bet Sweden would rather outlaw BTC, or force all people to reveal what cryptocurrencies they own. The disappearance of cash in Sweden is because the government wants to control and record all transactions. Maybe they will create their own crypto, but you can be sure they will never allow the rise of a currency they can't control.

I thought they banned cash for good year or two ago for the reasons you've stated.

Pab

legendary

Activity: 1862

Merit: 1012

Quote from: ?? on ??

The Swiss are just as savy as theit Sweedish neighbors

https://www.sirinlabs.com/

First crypto cell phone for you!

Sweden and Switzeland are not neighbour,there was very restrictve policy about using cash in Sweden,but now Sweden citzens want cash be back again,stupid article becouse Sweden is very much crypto hub in EU

valisa

full member

Activity: 364

Merit: 100

Sweden contributes to the development of cryptocurrency. indeed for now many digital transactions using bitcoin so bitcoin has a good future.

skyline247

hero member

Activity: 700

Merit: 500

I think countries should and will develop their own cryptos. Each country will have its own and we will be able to convert them online before travelling to make the process easier.

Simple_Man

member

Activity: 163

Merit: 11

Quote from: zycrypto on September 26, 2017, 10:42:05 AM

Sweden’s are reportedly not making active use of cash this year has also been recorded as the lowest level of banknote usage over the past 30 years.

In a press release from the world’s oldest central bank of sweden ,Sveriges riksbank, they stated that..

"Today, cash is used to an ever-decreasing extent in Sweden, which has led us within the
world of central banking to start considering whether a digital complement to cash that is
guaranteed by the state is needed so that we will be able to promote a safe and efficient
payment system in the future too"

Read More=> https://zycrypto.com/sweden-considering-digital-currency-bitcoin-comes-mind/

As expected, I didn't find any mention of bitcoin in the statement. Nor they have spoken about blockchain technology. They are saying about a digital complement to cash that is guaranteed by the state. So they probably will come up with a digital unit to be used for online transaction which will strictly centralized and monitored by the government. So no one would be able to mine that currency, they will have to earn it by exchanging their fiat currency or through salary. I don't see much of hope there!

Topic: Sweden considering a digital currency, bitcoin technology comes in mind. (Read 483 times)