Re: Why local currencies when there is bitcoin ?

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Inspired to bring Basque pride back to the region, in 2013 Edme-Sanjurjo and about a dozen volunteers launched a euro-equivalent micro-currency. Their aim was to reinvigorate enthusiasm for their cultural and linguistic roots and keep money within the French-Basque region by supporting local businesses.

Seems like micro-currencies are created to make the local economy more resilient and to reinforce the regional identity. Bitcoin, being a volatile and global currency uncontrolled by anyone, wouldn't suit these needs. A small local community would be at the mercy of global speculators who often decide to dump Bitcoin when they feel like it can't grow fast at the moment, and they would be powerless to stop it. But in case of their local currency, they can control it and maintain its value.