Greek island agrees to test digital currency

[cylonmaker2053]

what would be truly interesting is for a DAC to figure out a decentralized way of introducing metal backing.

Only when the human smartchain can control the robots who control and protect the gold vaults will we have truly decentralized tangible commodity backed currencies.  Decentralization in this case would mean physically unstoppable open source coded robots controlled by the global human consensus.



Looks like we are going to need some more delegates for this one fellas.





Like this :









Whoops, I mean like this:

HAHAHAHAHA  +5% +5% +5%

[Erlich Bachman]

what would be truly interesting is for a DAC to figure out a decentralized way of introducing metal backing.

Only when the human smartchain can control the robots who control and protect the gold vaults will we have truly decentralized tangible commodity backed currencies.  Decentralization in this case would mean physically unstoppable open source coded robots controlled by the global human consensus.



Looks like we are going to need some more delegates for this one fellas.





Like this :









Whoops, I mean like this:

[cylonmaker2053]

"Nautiluscoin was originally designed as stable store of value with a "stability fund" that would act as an internal central bank to reduce the notorious volatility associated with digital currencies like bitcoin."

Well that's one way to do it (trust that the central bank won't screw you method), but isn't that exactly what got us here in the first place.  Live and learn I guess.

i'm all for full decentralization, but it'd be interesting to see freely competitive hybrid models like a gold-backed crypto. that kind of assurance would make a lot more people out there feel comfortable about switching over to crypto, which would ultimately be a good thing for us. having a central authority in charge of buying and storing that gold introduces a whole new point of vulnerability, but so be it...what would be truly interesting is for a DAC to figure out a decentralized way of introducing metal backing.

[cylonmaker2053]

From cnbc article...

The mayor of the Greek island of Agistri has agreed to...

As a greek I can only say that the combination of those two words usually is an indication of either malice or stupitidy.

Not to mention the whole "gold backing" scheme.

LOL great point! i'd trust this a lot more if Greeks were spontaneously adopting it, but not at all when a politician steps up and supports it; most likely after a nice pre-mine chunk is secretly deposited in one of his wallets.

[Erlich Bachman]

"Nautiluscoin was originally designed as stable store of value with a "stability fund" that would act as an internal central bank to reduce the notorious volatility associated with digital currencies like bitcoin."

Well that's one way to do it (trust that the central bank won't screw you method), but isn't that exactly what got us here in the first place.  Live and learn I guess.

[Buck Fankers]

Nautiluscoin up 75% - way to generate hype.  ;)

Just look at who created the coin.

[chryspano]

From cnbc article...

The mayor of the Greek island of Agistri has agreed to...

As a greek I can only say that the combination of those two words usually is an indication of either malice or stupitidy.

Not to mention the whole "gold backing" scheme.

[fuzzy]

Nautiluscoin up 75% - way to generate hype.  ;)

yeah, seriously! wish i had some inside intel on that article coming out!

if this experiment actually proceeds i wouldn't mind supporting with a little investment, but i'm not yet convinced this is anything more than a quick pump n dumper

Who of you can recall AuroraCoin?

* Raises hand *

[Brekyrself]

http://cryptolife.net/scam-alert-nautiluscoin/

Looks like this could be bogus?  Having been to many of these small island towns, it's hard to believe any of them would jump on the crypto bandwagon.

[xeroc]

Nautiluscoin up 75% - way to generate hype.  ;)

yeah, seriously! wish i had some inside intel on that article coming out!

if this experiment actually proceeds i wouldn't mind supporting with a little investment, but i'm not yet convinced this is anything more than a quick pump n dumper

Who of you can recall AuroraCoin?

[cylonmaker2053]

Nautiluscoin up 75% - way to generate hype.  ;)

yeah, seriously! wish i had some inside intel on that article coming out!

if this experiment actually proceeds i wouldn't mind supporting with a little investment, but i'm not yet convinced this is anything more than a quick pump n dumper

[CLains]

Nautiluscoin up 75% - way to generate hype.  ;)

[cylonmaker2053]

yeah supposedly 'gold backed' but some things that worry me:

-originators retain majority tokens/coins that are released to market as demand increases. will this just be a massive profit opportunity for the guys holding the coins?

-despite claiming to be backed by gold, the metal is only purchased over time with proceeds from transaction fees. if this were a serious government effort, it'd be best to start the pot with $10M or something worth of gold in a vault, then implement the transaction fee rolling scheme.

[MJK]

Greek island agrees to test digital currency

http://www.cnbc.com/id/102815706