Hi guys, we are designing a currency for Venezuela and we would like to know your insights about limiting the mining and trading to a specific country, in this case Venezuela. Is that a good idea or even possible?
The purpose is to mine and trade with venezuelan currency, which is 'bolivares', and since nobody in the world wants them and foreign exchange is restricted in our country it would be a good idea for venezuelan miners to get paid in bolivares so they can spend it for daily living while people buy the alt-coins for savings. So, slowly we change our shitty bolivares for XVEs and in a matter of years we may be able to start an exchange to trade XBTs for XVEs, you know, like in a real world monetary system (without govt intervention of course).
See, our currency just got debased 600% in one year and we are sick of government robbing us at gunpoint.
No, we can not buy BTCs (the main purpose of a world currency like BTC) because we have no access to dollars, euros, yens or whatever strong currencies and nobody takes our bolivares.
Believe me when I tell you we are fucked.
Ideas?
Dude, this is a good idea...
Pick the right Alt Coin with PoW/PoS.. like PPC or YAC...
Fork it, make it Spanish... and launch, baby, launch.
Just plan on lauching 2 coins...
A 1st test coin (3 months)... and your 2nd great coin (6 months).
Bitcoin is an Elitist California coin whereby Hipsters patronize the Third World...
Russia, China gonna have LOTS of regional coins... why not Venezuala?
When the Muslim Brotherhood launches a coin... the infidel Bitcoin will be left in the dust.