I thought capital controls on foreign investors of Icelandic bonds had recently been toughened. Are you investing or speculating? As it stands, BTC can't cope with global retail volume so is turning more into an international settlement system like all those shipments of gold over a century ago IMO. A local payment currency such as AUR may prove more stable for day to day trade than an international currency. One thing for certain is that people are used to using one currency in their pocket, so persuading people to use 100's of different crypto's is a tough ask. So many of these extremely useful service crypto's are probably only going to end up worth their actual usage, people will only buy them when they need to use them.
If AUR is heading for the retail usage route, it may want to look at incorporating some technology from DASH.
If AUR is heading for the retail usage route, it may want to look at incorporating some technology from DASH.
Don't count on it. I understood Auroracoin inherited the Digibyte core? Digibyte has a crappy core, due to it's 15 seconds block time: No instant usability (https://bitcointalk.org/index.php?topic=408268.msg15188688#msg15188688)
Auroracoin having 61 seconds block time, is up for the same.
Any plans to talk to the icelandic government for making Auroracoin the official currency of the country? I would assume this is the end-goal?
When the time comes that Auroracoin will rival the Icelandic króna, we will not make plans to talk to the Icelandic government. The government will make plans to come and talk to us
Thats nice and fine but if we want this coin to get adopted it will take hard work on our part. I have mentioned it in the chat rooms and even some private groups but everyone just laughs at me for promoting the worlds first scam country coin.
I have read that with the election of a new Prime minister coming up, Iceland will lift it's capital controls ban allowing people, I am assuming to buy bitcoin and other cryptocurrencies. Call me a sadist but Auroracoin appealed to me at first because iceland had capital controls that banned people from buying bitcoin so they would be forced to use Auroracoin. Now it looks like soon they will have the option to invest in whatever they choose. I love auroracoin because the development team worked hard to build an exchange and totally make this coin legit. But from an investing standpoint I have no idea what to do now.
Your statement is partially right. The current cabinet (mostly corrupt bankers puppets) has been trying to find a way to help their rich business friends to get to their off-shore funds. They now are trying to pass legislation that lifts capital controls only for corporate entities (so their rich friends).
The average Icelandic citizen wil remain shackled by the same controls though. This is mainly why the results of coming elections will be of epic proportions leaving the current establishment empty-handed and probably put a PM in the parliament that is pro Auroracoin!
If you come to think of it, the chances of Auroracoin being excepted in Island might be very slim at best. I believe Island has had their fills with all sort of scams left and right, right? So no matter the takeover, Auororacoin has a scam history.
So how'd you think that will be perceived?