Icelanders can now each claim $400 worth of Auroracoin, the country's new digital currency

At midnight this morning in Iceland, digital currency fell from the sky. The developer behind Auroracoin, a digital currency designed exclusively for Iceland, has made $125 million worth of coins redeemable by Iceland's 330,000-or so citizens. That's about 31.8 Auroracoins, or roughly $380 per person, according to the price established by markets for digital currencies before the free distribution (the value has since dropped).

Onward with the digital currency experiments!

I guess the idea of having a digital decentralized currency based on algebra rather then a group of people who can determine at will the value of the currency has caught in countries that are apparently not completely compromised.

The country has a relatively small population compared to us and i wonder if that plays a roll in their politics?

""The people of Iceland are being sacrificed at the altar of a flawed financial system."" Auroracoin was launched by a pseudonymous person or persons using the name Baldur Friggjar Óðinsson. The goal is to decentralize power and revive Iceland's local economy, given that the kroner has fallen dramatically in value in recent years. Iceland was hard hit by the 2008 global financial crisis and is still recovering. "The people of Iceland are being sacrificed at the altar of a flawed financial system, controlled by an elite that made astronomical bets supported by the government on behalf of the people and ultimately at the expense of the people," the Auroracoin manifesto says.

Wow, ok. Its like people are starting to realize the level of control our captors have had us under now.

Whats the dillio?

The only currency worth holding is physical metals. Even new exchanges being set up are now becoming physical exchanges, if you want gold, you have to have it on the shelf, and cash for it.

Once gold is taken off cash only deliverables, and put onto Physical ONLY deliverables, you are going to see major mayhem take hold of fait currencies whether digital or paper based all are fait.

Of course holding metals is illegal in many countries, burry it in a field somewhere and smelt it into more managable sizes/formats


The power players will have physical metals, don't be left standing without a chair to sit on That is why we are seeing a massive shift in physical gold being "re-located" during uprisings and political instability (Ukraine for example - they got no physical gold now lol).

reply to post by kathat


How does a poor person get their hands on metals?

onequestion
reply to post by kathat

 

How does a poor person get their hands on metals?

Buy it from an exchange/dealer that does physical shippment.

When gold rises, silver also rises.

kathat

onequestion
reply to post by kathat

 

How does a poor person get their hands on metals?

Buy it from an exchange/dealer that does physical shippment.

When gold rises, silver also rises.

edit on 26-3-2014 by kathat because: (no reason given)

Gold and silver markets can be manipulated just as easily as digital currency can be hacked. It's the same as with any kind of currency whoever has the most decides what the currency is worth.

buster2010

kathat

onequestion
reply to post by kathat

 

How does a poor person get their hands on metals?

Buy it from an exchange/dealer that does physical shippment.

When gold rises, silver also rises.

edit on 26-3-2014 by kathat because: (no reason given)

Gold and silver markets can be manipulated just as easily as digital currency can be hacked. It's the same as with any kind of currency whoever has the most decides what the currency is worth.

Yes they do, but when the shift to PHYSICAL only trading happens, you want to be physically holding it and the price now will look low, very low

As we all know everything can be and is manipulated, may aswell be manipulated whilst holding something.

The fact that in a lot of countries, the law states they can confiscate gold for national reasons or make holding a lot of it illegal, says how much they care about you.

reply to post by onequestion

How does a poor person get their hands on metals?

Exactly!!!

Anyhow, considering Iceland actually had the cajones to go after the bankers I hope their experiment works!

Edit: I wonder how long it will be before the IMF and the bankers will put up with this one! Maybe Putin will come to the rescue and gobble up Iceland? /pure speculation based upon a mind that is constantly looking for conspiracies.......

seeker1963
reply to post by onequestion

 

How does a poor person get their hands on metals?

Exactly!!!

Anyhow, considering Iceland actually had the cajones to go after the bankers I hope their experiment works!

Yeah but they depend on NATO and US as they have no standing military. Rightfully so, a peaceful nation has no need for a military.

They only exist in NATO because of their geographic locaiton, not because NATO give a darn for them.

Here's a link that looks like onequestion's article....

Icelanders can now each claim $400 worth of Auroracoin, the country's new digital currency


and some more info.....

National Bitcoin Alternative Auroracoin Launches To Save Iceland's Economy



auroracoin.org

Five years ago, the government of Iceland imposed capital controls, following the collapse of a Ponzi inspired financial system that had issued far more Icelandic kronas than the nation could ever back up through its real economy. These controls were supposed to be “temporary”, but as with so many government actions, they remain in place to this day.

This means that the people of Iceland have, for the past five years, been forced to turn over all foreign currency earned to the Central Bank of Iceland. This means that the people are not entirely free to engage in international trade. They are not free to invest in businesses abroad. The arbitrary use of power this entails and the unsustainable debt of the Icelandic government has created uncertainty and risk in all aspects of commerce. This has had a crippling effect on foreign investment, as foreigners in general avoid investing in Icelandic enterprises, because of the risk of not being able to convert their investment back into dollars or euros.


A nation breaks the shackles of a fiat currency