Quote from: mercSuey on July 19, 2013, 03:38:39 AM

Quote from: barwizi on July 19, 2013, 03:28:24 AM

Quote from: david64 on July 18, 2013, 08:06:48 PM

What are the Noir Bits developers working on?

stbgefltc is working on main code during his free time, please RESPECTFULLY request anything you would like. I am currently looking into getting us on a different exchange and the bank. It's a far chance, but it would change not only NRB but the face of crypto if people could start doing ordinary banking ops with it. Due to location i will not be introducing direct fiat withdrawals in that country, but it will be available at ATMs. Getting Visa to accept us is dependent on American interests so we have already begun talking to the guys who made the first BTC ATM.

There is a nation that has said if we support BTC in our bank, they will let us run parallel to normal eco line as an experiment. Our only squabble with them is that they would like the bank to set guaranteed exchange rates for fiat in their country. I am uncomfortable with this since it puts the bank in for serious losses if BTC tanks.

barwizi, whatever you do, do NOT accept a fixed rate. The ongoing currency wars across the globe has instigated a race to devalue currencies between all developed countries. This will make exports so much cheaper for said countries that other (less developed) countries will have no choice but to devalue as well, in order to keep their exports competitive. What you would have to worry about is BTC spiking AND their currency tanking; you'll basically be giving away free BTC to that country's banking system. And the global financial environment is ripe for both to occur.

-Merc

EDIT: I assumed you will be selling BTC to this country's financial system.

thanks for the heads up, i am not too knowledgeable when it comes to deep economics but what you said makes sense.