Actually there is a very good chance it would work, the vast majority of people have no problems with the current system and adding blockchain to the mix is going to be an upgrade and benefit everyone by increasing transparency, efficiency and lowering costs/fees. A government backed coin would be far easier for the masses to adopt than Bitcoin.

Today the most talked about model for an all digital currency is bitcoin, a system based on the algorithmic creation of money, mined from computation much like gold was once mined from the hills of California. Bitcoin's most appealing property is that it is not controlled by any government, it is meant to be free from political pressure, from the influence of central bankers, and the risk of national default. Bitcoin can be used anonymously, attracting druglords, tax evaders and bred a bitcoin black market economy.

Bitcoin, or something like it will have a role in future, but another kind of currency will appear too. This currency, instead of being anonymous, backed only by algorithms, and unlinked to any government as Bitcoin is, would be built for reliability, not mystery, ... transparent, traceable, backed by a major government and tied intimately to policy and credit. Imagine if the united states began to issue bitdollars, backed by the security of the United States.

Because its connected to a database, a BitDollar can be earmarked for specific purposes... foreign aid processed digitally could be traced and watched, it could be easily updated based on commodity prices and demand ... it will be a gateland.

What sort of digital currency will it be ... finance of the future will be filled with gatelands to make transactions safer, more reliable and to fit currency more tightly to policy. Control of such currency will be a source of real power, and a place of certain competition. It will be possible who is in or out of
such a system instantly - locking out Russian oligarchs and locking in Aid workers.

The country should... introduce bitdollars just as China has introduced it's own digital currency.

The investment to date breaks down in terms of 2.2M in cash and 1M in in-kind contributions. The contributors wish to remain anonymous. They provided this because they believe that we are in a very dangerous situation: a global panopticon (the incumbent social networks funneling into Project PRISM) and a global wealth imbalance. They want to do something rather than just talk about it on Facebook. Amazingly, the success of a system that begins to redress the imbalance is what they are seeking. Therefore, they are not seeking to get anything out of Synereo, financially. To me this is very inspiring and causes me to work even harder.

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Due to Bitfunder closing down, we are extending the deadline to transfer shares to AMC-TENDER until November 13th, 2013.

At this time all shareholders should follow the procedure for transferring shares to AMC-TENDER.

Dividends which are due to be paid tomorrow will be suspended until we have the share problem solved.

We will be creating Pass-Through shares on a yet undetermined exchange for our shareholders.

After the Pass-Through is created, we will pay the suspended dividends.

Active Mining Corporation (Belize)

Erm, so what does this patch achieve in context that is so significant for the Creator to reveal that He walks amongst us yet?

Version 3.1.1 still remains the most stable release for your hardware, but bear in mind you will need to use zadig to re-associate the device with the ftdi driver instead of WinUSB when you go back to it. 3.2.0 did not work at all for AMU devices so if you're trying the new code, use 3.2.1. 3.2.1a is just a binary built for older versions of ubuntu and no different to 3.2.1.

Compiling it yourself will not make it more stable as my builds should be optimal - the only advantage to building yourself is you can build a stripped down version containing support only for the hardware you want to use, and assuming you're on windows, compiling it is FAR from trivial.

Version 3.1.1 still remains the most stable release for your hardware, but bear in mind you will need to use zadig to re-associate the device with the ftdi driver instead of WinUSB when you go back to it. 3.2.0 did not work at all for AMU devices so if you're trying the new code, use 3.2.0. 3.2.1a is just a binary built for older versions of ubuntu and no different to 3.2.1.

Compiling it yourself will not make it more stable as my builds should be optimal - the only advantage to building yourself is you can build a stripped down version containing support only for the hardware you want to use, and assuming you're on windows, compiling it is FAR from trivial.

Care to explain why?

Care to explain why?

This is a fascinating development. Heres my analysis:

1)  People pulled coins off of gox to sell on other exchanges or their wallets.
2) Fiat is now trapped in gox.

When gox open I expect minor selling followed by a hard buy. Why?  Fewer coins on the exchange because theyve been moved and lots of fiat wanting to stoppes being trapped.

I also recommend Neal Stephenson's Cryptonomicon and The Baroque Cycle trilogy (Quicksilver, The Confusion, and The System of The World). A recurring them is the invention of money and the roots of financial system we have today.

You need to be more precise with your terms.

Systems such as Target2, CHAPS, Fedwire, etc., exist to allow governments and large companies to settle EUR/GBP/USD transactions in real-time, with finality, on the books of the respective currency's central bank.     To that extent, the Bitcoin network can be seen as the Real-Time Gross Settlement system of the Bitcoin currency.    But it's important to realise that the currency and the RTGS come as a pair.  Target2 for EUR, Bitcoin network for BTC, Fedwire for USD.  The concept of a "reserve currency" doesn't come in to it.

(It's also worth pointing out that SWIFT doesn't really come into this discussion - it's just a messaging network.....  payments are ultimately settled by the underlying RTGS.)

Following the logic above, then, what do you mean by a reserve currency?   Typical definitions encompass the notion that a reserve currency is one that governments hold a lot of, either as an asset or as a way of settling obligations -- and/or the notion that it is a currency in such widespread usage that major commodities are priced relative to it.

In both cases, the currency needs to be widely adopted -- so it's not obvious that a government-bootstrapped currency, with strict usage/membership rules would really take off.

Nope, it wouldn't take a whole lot to get the numbers to start going down (compared to other currencies).