Quote from: polynesia on July 29, 2014, 02:51:34 AM

Quote from: Scott-Maxwell on July 28, 2014, 11:14:57 AM

Hi,

I've been asking for opinions about a proposal that's come up here in Scotland. We're going to the polls in the next month to decide whether we want to split from England and become an independent country - basically the end of the United Kingdom that's lasted 400 years.

There's been plenty of discussion not only on whether we should, but whether we could (practically.) One of the major stumbling blocks is the use of GBP - the Bank of England has said a post-independent Scotland can't use it. Bit mean, but there you are.

So the question came up - If Scotland needs a new currency, why not set up a State-Run Cryptocurrency?

Here's my thoughts on the issue.

http://cryptocurrencymadesimple.com/should-scotland-set-up-a-state-run-cryptocurrency/

Also, it appears that Ecuador got there first:

http://cryptocurrencymadesimple.com/ecuador-nationalise-cryptocurrency/

Would love to here what you guys think.

The Ecuador cryptocurrency will exist in parallel to the existing currency.
It would be interesting to see if any country will ever get to having only a cryptocurrency.

Its interesting that USD has been legal tender in Eucador since 2000. They dollarized their economy because inflation was 96.1% in 2000! Dropped to 22.4% in 2001. That is unbelievable

This move is because they are straitjacketed by the USD. I hope it works out for them