In One Month, Everyone
In Iceland Will Own Cryptocurrency
Our data indicates Bitcoin is already in the control of the US Treasury
and The Bank of England. What's key to remember about cryptocurrency is
that while they discourage inflation of the currency (through difficulty
of mining new digital coins - and who audits that anyway?) they do not
address the paradigm that the people are the value. The use of
cryptocurrency does not address the issue of the hypothecation of the
value of human beings and their assets without their knowledge that they
are the value - the basis of the current slavery systems. These issues
will remain even if there is a switch to a cryptocurrency. Most
banking value exchanges do not involve cash in any case. They involve
trading bank paper. -AK
In One Month, Everyone In Iceland Will Own Cryptocurrency
http://www.rumormillnews.com/cgi-bin/forum.cgi?read=299026
Posted By: RumorMail
Date: Saturday, 8-Feb-2014 13:07:05
Aurocoin log
The cryptocurrency craze spun into a new realm of ridiculous with
Kanyecoin, Dogecoin, Ron Paul Coin and the bounty of other clone-coins
that sprung up to ride the Bitcoin wave. But the latest altcoin to enter
the market, Auroracoin, wants to take the futurist trend back to its
cryptoanarchist roots. The altcoin was designed specifically for
Iceland, and the creator plans to give every citizen of the Nordic
country a digital handful of Auroracoins to kickstart their use.
Auroracoin is the brainchild of cryptocurrency enthusiast Baldur
Friggjar Odinsson, and he'll be the one distributing pre-mined coins to
the entire population of Iceland at midnight on March 25 in a
countrywide "airdrop." Each Icelandic citizen—all 330,000 of them—will
receive 31.8 AUC through a digital transaction. Citizens all have a
national ID number available through a public database, which will be
used to verify their identity.
"So I intend to leverage this system so everyone has a chance to verify
their ID and get their share of Auroracoins. For most, it will be as
easy as logging onto Facebook," Odinsson told me. "People will have (at
least) a year to claim their coins."
Why would someone want to give away over 10 million digital coins? To
stick it to the man, naturally. Auroracoin creators believe the digital
currency can buck the "unholy alliance" between governments and
too-big-to-fail banks, by taking the power away from politicians and
giving it back to the people.
Iceland's economy is still reeling from the country's major financial
meltdown in 2008, when greedy banksters nearly bankrupted the
traditionally well-off nation. The banking system collapsed, followed by
a run on deposits from foreign investors in the Netherlands and UK.
Iceland's fiat currency, the Krona, plummeted; inflation exploded; the
stock market did a nosedive; and the national debt skyrocketed.
(Actually, the currency’s problems go back even further than the 2008
crisis; the Krona has lost 99.5 percent of its value since 1960 relative
to the US dollar.)
Iceland's new 10,000 ISK bill is worth about $85, according to the
Central Bank.
Iceland avoided bankruptcy, but spiraled into an economic recession it's
only recently beginning to recover from. Major banks were nationalized
and the government imposed capital controls to stabilize the economy
that were supposed to be temporary but are still in place today. As a
result, any foreign currency earned has to be turned over to the Central
Bank of Iceland, people can't freely trade internationally or invest in
business abroad, and foreigners are hesitant to invest in Icelandic
companies, which further stifles economic growth.
"I started wondering how to break the cycle, and came to the conclusion
that we had to democratize money in Iceland," Odinsson said. "It has to
be divorced from the corrupt banks and government. I thought Iceland
might be too small and isolated (because of the capital controls) for a
cryptocurrency like bitcoin and litecoin to naturally take root. So I
thought: What if everyone just got some cryptocoins and could use them
or discard them or do anything they wanted with them? And as I thought
more about this I realized that this could actually be done."
Odinsson turned to digital currency to get around these government
restrictions. Remember when Bitcoin boomed after the government in
Cyprus tried to pull itself out of financial ruin by reaching into
citizens’ pockets? That’s what Odinsson’s hoping will happen with
Auroracoin in Iceland.
So can it work? Well, Iceland is well-positioned to be a guinea pig for
national cryptocurrencies. It's small—the population's about the size of
San Mateo—and nearly everyone is online and brandishing gadgets.
Icelanders tend to be tech-savvy and well-educated, and Odinsson's
betting it won't be too hard to get people up to speed on virtual
currencies. Plus Iceland has a thing for virtual stuff anyway.
Odinsson's taking the unconventional approach of pre-mining half of the
Auroracoin stock, which is based off the Litecoin source code, so that
the early adopters won't just be techsperts with expensive mining
hardware but the whole public. Now he's encouraging developers to make
tools like payment software and virtual wallets for currency, and
calling on all global currency exchanges to accept the new Nordic
altcoin come March.
"People will try out the system, they will send coins and use them for
fun, and then they may gradually gain some economic value. People will
speculate on the coins and they will have some monetary value of at some
point," said Odinsson. "If the Airdrop works in Iceland, I can see
similar schemes being employed in other countries with a history of
economic mismanagement. I know there is an Irish version of Auroracoin
currently in development, and I could see an Argentinian one working as
well."
Posted by AMERICAN KABUKI at 8:15 PM
American Kabuki is licensed under a Creative Commons Attribution 4.0 International License.
You
may copy, quote, and redistribute this material so long as you do not
alter it in any way, and you include this link:
http://americankabuki.blogspot.com
Our data indicates
Bitcoin is already in the control of the US Treasury and The Bank of
England. What's key to remember about cryptocurrency is that while they
discourage inflation of the currency (through difficulty of mining new
digital coins - and who audits that anyway?) they do not address the
paradigm that the people are the value. The use of cryptocurrency does
not address the issue of the hypothecation of the value of human beings
and their assets without their knowledge that they are the value - the
basis of the current slavery systems. These issues will remain even if
there is a switch to a cryptocurrency. Most banking value exchanges do
not involve cash in any case. They involve trading bank paper. -AK
American Kabuki is licensed under a Creative Commons Attribution 4.0 International License.
You
may copy, quote, and redistribute this material so long as you do not
alter it in any way, and you include this link:
http://americankabuki.blogspot.com
The cryptocurrency
craze spun into a new realm of ridiculous with Kanyecoin, Dogecoin, Ron
Paul Coin and the bounty of other clone-coins that sprung up to ride the
Bitcoin wave. But the latest altcoin to enter the market, Auroracoin,
wants to take the futurist trend back to its cryptoanarchist roots. The
altcoin was designed specifically for Iceland, and the creator plans to
give every citizen of the Nordic country a digital handful of
Auroracoins to kickstart their use.
Auroracoin is the brainchild of cryptocurrency enthusiast Baldur
Friggjar Odinsson, and he'll be the one distributing pre-mined coins to
the entire population of Iceland at midnight on March 25 in a
countrywide "airdrop." Each Icelandic citizen—all 330,000 of them—will
receive 31.8 AUC through a digital transaction. Citizens all have a
national ID number available through a public database, which will be
used to verify their identity.
"So I intend to leverage this system so everyone has a chance to verify
their ID and get their share of Auroracoins. For most, it will be as
easy as logging onto Facebook," Odinsson told me. "People will have (at
least) a year to claim their coins."
Why would someone want to give away over 10 million digital coins? To
stick it to the man, naturally. Auroracoin creators believe the digital
currency can buck the "unholy alliance" between governments and
too-big-to-fail banks, by taking the power away from politicians and
giving it back to the people.
Iceland's economy is still reeling from the country's major financial
meltdown in 2008, when greedy banksters nearly bankrupted the
traditionally well-off nation. The banking system collapsed, followed by
a run on deposits from foreign investors in the Netherlands and UK.
Iceland's fiat currency, the Krona, plummeted; inflation exploded; the
stock market did a nosedive; and the national debt skyrocketed.
(Actually, the currency’s problems go back even further than the 2008
crisis; the Krona has lost 99.5 percent of its value since 1960 relative
to the US dollar.)
Iceland's new 10,000 ISK bill is worth about $85, according to the
Central Bank.
Iceland avoided bankruptcy, but spiraled into an economic recession it's
only recently beginning to recover from. Major banks were nationalized
and the government imposed capital controls to stabilize the economy
that were supposed to be temporary but are still in place today. As a
result, any foreign currency earned has to be turned over to the Central
Bank of Iceland, people can't freely trade internationally or invest in
business abroad, and foreigners are hesitant to invest in Icelandic
companies, which further stifles economic growth.
"I started wondering how to break the cycle, and came to the conclusion
that we had to democratize money in Iceland," Odinsson said. "It has to
be divorced from the corrupt banks and government. I thought Iceland
might be too small and isolated (because of the capital controls) for a
cryptocurrency like bitcoin and litecoin to naturally take root. So I
thought: What if everyone just got some cryptocoins and could use them
or discard them or do anything they wanted with them? And as I thought
more about this I realized that this could actually be done."
Odinsson turned to digital currency to get around these government
restrictions. Remember when Bitcoin boomed after the government in
Cyprus tried to pull itself out of financial ruin by reaching into
citizens’ pockets? That’s what Odinsson’s hoping will happen with
Auroracoin in Iceland.
So can it work? Well, Iceland is well-positioned to be a guinea pig for
national cryptocurrencies. It's small—the population's about the size of
San Mateo—and nearly everyone is online and brandishing gadgets.
Icelanders tend to be tech-savvy and well-educated, and Odinsson's
betting it won't be too hard to get people up to speed on virtual
currencies. Plus Iceland has a thing for virtual stuff anyway.
Odinsson's taking the unconventional approach of pre-mining half of the
Auroracoin stock, which is based off the Litecoin source code, so that
the early adopters won't just be techsperts with expensive mining
hardware but the whole public. Now he's encouraging developers to make
tools like payment software and virtual wallets for currency, and
calling on all global currency exchanges to accept the new Nordic
altcoin come March.
"People will try out the system, they will send coins and use them for
fun, and then they may gradually gain some economic value. People will
speculate on the coins and they will have some monetary value of at some
point," said Odinsson. "If the Airdrop works in Iceland, I can see
similar schemes being employed in other countries with a history of
economic mismanagement. I know there is an Irish version of Auroracoin
currently in development, and I could see an Argentinian one working as
well."
American Kabuki is licensed under a Creative Commons Attribution 4.0 International License.
You
may copy, quote, and redistribute this material so long as you do not
alter it in any way, and you include this link:
http://americankabuki.blogspot.com
In One Month, Everyone
In Iceland Will Own Cryptocurrency
Our data indicates Bitcoin is already in the control of the US Treasury
and The Bank of England. What's key to remember about cryptocurrency is
that while they discourage inflation of the currency (through difficulty
of mining new digital coins - and who audits that anyway?) they do not
address the paradigm that the people are the value. The use of
cryptocurrency does not address the issue of the hypothecation of the
value of human beings and their assets without their knowledge that they
are the value - the basis of the current slavery systems. These issues
will remain even if there is a switch to a cryptocurrency. Most
banking value exchanges do not involve cash in any case. They involve
trading bank paper. -AK
In One Month, Everyone In Iceland Will Own Cryptocurrency
http://www.rumormillnews.com/cgi-bin/forum.cgi?read=299026
Posted By: RumorMail
Date: Saturday, 8-Feb-2014 13:07:05
Aurocoin log
The cryptocurrency craze spun into a new realm of ridiculous with
Kanyecoin, Dogecoin, Ron Paul Coin and the bounty of other clone-coins
that sprung up to ride the Bitcoin wave. But the latest altcoin to enter
the market, Auroracoin, wants to take the futurist trend back to its
cryptoanarchist roots. The altcoin was designed specifically for
Iceland, and the creator plans to give every citizen of the Nordic
country a digital handful of Auroracoins to kickstart their use.
Auroracoin is the brainchild of cryptocurrency enthusiast Baldur
Friggjar Odinsson, and he'll be the one distributing pre-mined coins to
the entire population of Iceland at midnight on March 25 in a
countrywide "airdrop." Each Icelandic citizen—all 330,000 of them—will
receive 31.8 AUC through a digital transaction. Citizens all have a
national ID number available through a public database, which will be
used to verify their identity.
"So I intend to leverage this system so everyone has a chance to verify
their ID and get their share of Auroracoins. For most, it will be as
easy as logging onto Facebook," Odinsson told me. "People will have (at
least) a year to claim their coins."
Why would someone want to give away over 10 million digital coins? To
stick it to the man, naturally. Auroracoin creators believe the digital
currency can buck the "unholy alliance" between governments and
too-big-to-fail banks, by taking the power away from politicians and
giving it back to the people.
Iceland's economy is still reeling from the country's major financial
meltdown in 2008, when greedy banksters nearly bankrupted the
traditionally well-off nation. The banking system collapsed, followed by
a run on deposits from foreign investors in the Netherlands and UK.
Iceland's fiat currency, the Krona, plummeted; inflation exploded; the
stock market did a nosedive; and the national debt skyrocketed.
(Actually, the currency’s problems go back even further than the 2008
crisis; the Krona has lost 99.5 percent of its value since 1960 relative
to the US dollar.)
Iceland's new 10,000 ISK bill is worth about $85, according to the
Central Bank.
Iceland avoided bankruptcy, but spiraled into an economic recession it's
only recently beginning to recover from. Major banks were nationalized
and the government imposed capital controls to stabilize the economy
that were supposed to be temporary but are still in place today. As a
result, any foreign currency earned has to be turned over to the Central
Bank of Iceland, people can't freely trade internationally or invest in
business abroad, and foreigners are hesitant to invest in Icelandic
companies, which further stifles economic growth.
"I started wondering how to break the cycle, and came to the conclusion
that we had to democratize money in Iceland," Odinsson said. "It has to
be divorced from the corrupt banks and government. I thought Iceland
might be too small and isolated (because of the capital controls) for a
cryptocurrency like bitcoin and litecoin to naturally take root. So I
thought: What if everyone just got some cryptocoins and could use them
or discard them or do anything they wanted with them? And as I thought
more about this I realized that this could actually be done."
Odinsson turned to digital currency to get around these government
restrictions. Remember when Bitcoin boomed after the government in
Cyprus tried to pull itself out of financial ruin by reaching into
citizens’ pockets? That’s what Odinsson’s hoping will happen with
Auroracoin in Iceland.
So can it work? Well, Iceland is well-positioned to be a guinea pig for
national cryptocurrencies. It's small—the population's about the size of
San Mateo—and nearly everyone is online and brandishing gadgets.
Icelanders tend to be tech-savvy and well-educated, and Odinsson's
betting it won't be too hard to get people up to speed on virtual
currencies. Plus Iceland has a thing for virtual stuff anyway.
Odinsson's taking the unconventional approach of pre-mining half of the
Auroracoin stock, which is based off the Litecoin source code, so that
the early adopters won't just be techsperts with expensive mining
hardware but the whole public. Now he's encouraging developers to make
tools like payment software and virtual wallets for currency, and
calling on all global currency exchanges to accept the new Nordic
altcoin come March.
"People will try out the system, they will send coins and use them for
fun, and then they may gradually gain some economic value. People will
speculate on the coins and they will have some monetary value of at some
point," said Odinsson. "If the Airdrop works in Iceland, I can see
similar schemes being employed in other countries with a history of
economic mismanagement. I know there is an Irish version of Auroracoin
currently in development, and I could see an Argentinian one working as
well."
Posted by AMERICAN KABUKI at 8:15 PM
American Kabuki is licensed under a Creative Commons Attribution 4.0 International License.
You
may copy, quote, and redistribute this material so long as you do not
alter it in any way, and you include this link:
http://americankabuki.blogspot.com
In One Month, Everyone
In Iceland Will Own Cryptocurrency
Our data indicates Bitcoin is already in the control of the US Treasury
and The Bank of England. What's key to remember about cryptocurrency is
that while they discourage inflation of the currency (through difficulty
of mining new digital coins - and who audits that anyway?) they do not
address the paradigm that the people are the value. The use of
cryptocurrency does not address the issue of the hypothecation of the
value of human beings and their assets without their knowledge that they
are the value - the basis of the current slavery systems. These issues
will remain even if there is a switch to a cryptocurrency. Most
banking value exchanges do not involve cash in any case. They involve
trading bank paper. -AK
In One Month, Everyone In Iceland Will Own Cryptocurrency
http://www.rumormillnews.com/cgi-bin/forum.cgi?read=299026
Posted By: RumorMail
Date: Saturday, 8-Feb-2014 13:07:05
Aurocoin log
The cryptocurrency craze spun into a new realm of ridiculous with
Kanyecoin, Dogecoin, Ron Paul Coin and the bounty of other clone-coins
that sprung up to ride the Bitcoin wave. But the latest altcoin to enter
the market, Auroracoin, wants to take the futurist trend back to its
cryptoanarchist roots. The altcoin was designed specifically for
Iceland, and the creator plans to give every citizen of the Nordic
country a digital handful of Auroracoins to kickstart their use.
Auroracoin is the brainchild of cryptocurrency enthusiast Baldur
Friggjar Odinsson, and he'll be the one distributing pre-mined coins to
the entire population of Iceland at midnight on March 25 in a
countrywide "airdrop." Each Icelandic citizen—all 330,000 of them—will
receive 31.8 AUC through a digital transaction. Citizens all have a
national ID number available through a public database, which will be
used to verify their identity.
"So I intend to leverage this system so everyone has a chance to verify
their ID and get their share of Auroracoins. For most, it will be as
easy as logging onto Facebook," Odinsson told me. "People will have (at
least) a year to claim their coins."
Why would someone want to give away over 10 million digital coins? To
stick it to the man, naturally. Auroracoin creators believe the digital
currency can buck the "unholy alliance" between governments and
too-big-to-fail banks, by taking the power away from politicians and
giving it back to the people.
Iceland's economy is still reeling from the country's major financial
meltdown in 2008, when greedy banksters nearly bankrupted the
traditionally well-off nation. The banking system collapsed, followed by
a run on deposits from foreign investors in the Netherlands and UK.
Iceland's fiat currency, the Krona, plummeted; inflation exploded; the
stock market did a nosedive; and the national debt skyrocketed.
(Actually, the currency’s problems go back even further than the 2008
crisis; the Krona has lost 99.5 percent of its value since 1960 relative
to the US dollar.)
Iceland's new 10,000 ISK bill is worth about $85, according to the
Central Bank.
Iceland avoided bankruptcy, but spiraled into an economic recession it's
only recently beginning to recover from. Major banks were nationalized
and the government imposed capital controls to stabilize the economy
that were supposed to be temporary but are still in place today. As a
result, any foreign currency earned has to be turned over to the Central
Bank of Iceland, people can't freely trade internationally or invest in
business abroad, and foreigners are hesitant to invest in Icelandic
companies, which further stifles economic growth.
"I started wondering how to break the cycle, and came to the conclusion
that we had to democratize money in Iceland," Odinsson said. "It has to
be divorced from the corrupt banks and government. I thought Iceland
might be too small and isolated (because of the capital controls) for a
cryptocurrency like bitcoin and litecoin to naturally take root. So I
thought: What if everyone just got some cryptocoins and could use them
or discard them or do anything they wanted with them? And as I thought
more about this I realized that this could actually be done."
Odinsson turned to digital currency to get around these government
restrictions. Remember when Bitcoin boomed after the government in
Cyprus tried to pull itself out of financial ruin by reaching into
citizens’ pockets? That’s what Odinsson’s hoping will happen with
Auroracoin in Iceland.
So can it work? Well, Iceland is well-positioned to be a guinea pig for
national cryptocurrencies. It's small—the population's about the size of
San Mateo—and nearly everyone is online and brandishing gadgets.
Icelanders tend to be tech-savvy and well-educated, and Odinsson's
betting it won't be too hard to get people up to speed on virtual
currencies. Plus Iceland has a thing for virtual stuff anyway.
Odinsson's taking the unconventional approach of pre-mining half of the
Auroracoin stock, which is based off the Litecoin source code, so that
the early adopters won't just be techsperts with expensive mining
hardware but the whole public. Now he's encouraging developers to make
tools like payment software and virtual wallets for currency, and
calling on all global currency exchanges to accept the new Nordic
altcoin come March.
"People will try out the system, they will send coins and use them for
fun, and then they may gradually gain some economic value. People will
speculate on the coins and they will have some monetary value of at some
point," said Odinsson. "If the Airdrop works in Iceland, I can see
similar schemes being employed in other countries with a history of
economic mismanagement. I know there is an Irish version of Auroracoin
currently in development, and I could see an Argentinian one working as
well."
American Kabuki is licensed under a Creative Commons Attribution 4.0 International License.
You
may copy, quote, and redistribute this material so long as you do not
alter it in any way, and you include this link:
http://americankabuki.blogspot.com
