Should Bitcoin be attempted to replace by something of National Origin?

[BTCIndia]

Original Thread was "Embrace Yourself for National Cryptocurrency"

And it was moved to altcoins sections therefore, I'm changing its title so that it suits main thread. Essence is same. National currency how important compared to Bitcoin?

Take your time to educate with intricacies of financial world. And lets pray together that, full-time nodes actively promulgating so called 'disruption' and 'network effect' backed by argument of 'innate network effect' do not discard National Cryptocurrency as another altcoin.

If its is launched then should we adapt or discard it?

[polynesia]

Take your time to educate with intricacies of financial world. And lets pray together that, full-time nodes actively promulgating so called 'disruption' and 'network effect' backed by argument of 'innate network effect' do not discard National Cryptocurrency as another altcoin.

Amen!

Any additional details on this altcoin? 
If it is just a statement like that, of course people will dismiss it.

[Fernandez]

Take your time to educate with intricacies of financial world. And lets pray together that, full-time nodes actively promulgating so called 'disruption' and 'network effect' backed by argument of 'innate network effect' do not discard National Cryptocurrency as another altcoin.

Amen!

Why exactly would we not dismiss it as another altcoin? Sounds like yet another altcoin.

[legendster]

Laxmicoin failed, so did Kashmir coin, if this is 'yet another altcoin' what makes it any different ?

[RocketSingh]

Take your time to educate with intricacies of financial world. And lets pray together that, full-time nodes actively promulgating so called 'disruption' and 'network effect' backed by argument of 'innate network effect' do not discard National Cryptocurrency as another altcoin.

Amen!

Yah... Raghuram Rajan appears to be far more reliable than Gavin Andresen. INR rulez

[polynesia]

Take your time to educate with intricacies of financial world. And lets pray together that, full-time nodes actively promulgating so called 'disruption' and 'network effect' backed by argument of 'innate network effect' do not discard National Cryptocurrency as another altcoin.

Amen!

Yah... Raghuram Rajan appears to be far more reliable than Gavin Andresen. INR rulez

He is talking about National Cryptocurrency, not National Currency. 

[thebitcoinquiz.com]

Laxmicoin failed, so did Kashmir coin, if this is 'yet another altcoin' what makes it any different ?

When did laxmicoin come out? ROFL, I thought that the coin was still in development(and I hoped to see some new innovations in it), but did it fail so badly that we weren't even able to notice it failing? 

[legendster]

Laxmicoin failed, so did Kashmir coin, if this is 'yet another altcoin' what makes it any different ?

When did laxmicoin come out? ROFL, I thought that the coin was still in development(and I hoped to see some new innovations in it), but did it fail so badly that we weren't even able to notice it failing? 

You should have been more involved in that separate forum. The reason Laxmicoin failed was because it failed to garner any attention from the Indians.

[BTCIndia]

Take your time to educate with intricacies of financial world. And lets pray together that, full-time nodes actively promulgating so called 'disruption' and 'network effect' backed by argument of 'innate network effect' do not discard National Cryptocurrency as another altcoin.

Amen!

Any additional details on this altcoin?  
If it is just a statement like that, of course people will dismiss it.

No additional detail on this 'altcoin'. They have right to dismiss it and let then utilize their right for their own good.

[BTCIndia]

Take your time to educate with intricacies of financial world. And lets pray together that, full-time nodes actively promulgating so called 'disruption' and 'network effect' backed by argument of 'innate network effect' do not discard National Cryptocurrency as another altcoin.

Amen!

Why exactly would we not dismiss it as another altcoin? Sounds like yet another altcoin.

Because, I assume 'you' have updated yourself with intricacies of financial system. And therefore in better position to understand the importance of national cryptocurrency. Anything that is not Bitcoin is altcoin.

[BTCIndia]

Laxmicoin failed, so did Kashmir coin, if this is 'yet another altcoin' what makes it any different ?

There is huge difference between altcoin and national cryptocurrency. National Cryptocurrency can be called altcoin but that dosen't imply altcoin (Laxmicoin, Kashmir coin, Modicoin, Bharatcoin) are national cryptocurrency.

[BTCIndia]

Laxmicoin failed, so did Kashmir coin, if this is 'yet another altcoin' what makes it any different ?

When did laxmicoin come out? ROFL, I thought that the coin was still in development(and I hoped to see some new innovations in it), but did it fail so badly that we weren't even able to notice it failing?  

Laxmicoin failed because, it couldn't head fake active national nodes. Apart from that, they didn't have comprehensive marketing, adaption and propaganda in place. It takes country to create a Bitcoin like successful currency.

[vennali]

Laxmicoin failed, so did Kashmir coin, if this is 'yet another altcoin' what makes it any different ?

When did laxmicoin come out? ROFL, I thought that the coin was still in development(and I hoped to see some new innovations in it), but did it fail so badly that we weren't even able to notice it failing?  

Laxmicoin failed because, it couldn't head fake active national nodes. Apart from that, they didn't have comprehensive marketing, adaption and propaganda in place. It takes country to create a Bitcoin like successful currency.

Bitcoin being a global crypto has a very less impact in India, and not many people are involved in this space. I really doubt a national cryptocurrency would have much impact as most of the people who have used Bitcoin, would probably still stick with bitcoin and just like Bitcoin it would never be accepted by most of the financial institutions. I doubt any national crytp has been successful for long in any of the other countries.

[legendster]

Laxmicoin failed, so did Kashmir coin, if this is 'yet another altcoin' what makes it any different ?

When did laxmicoin come out? ROFL, I thought that the coin was still in development(and I hoped to see some new innovations in it), but did it fail so badly that we weren't even able to notice it failing?  

Laxmicoin failed because, it couldn't head fake active national nodes. Apart from that, they didn't have comprehensive marketing, adaption and propaganda in place. It takes country to create a Bitcoin like successful currency.

Bitcoin being a global crypto has a very less impact in India, and not many people are involved in this space. I really doubt a national cryptocurrency would have much impact as most of the people who have used Bitcoin, would probably still stick with bitcoin and just like Bitcoin it would never be accepted by most of the financial institutions. I doubt any national crytp has been successful for long in any of the other countries.

Well what the OP said is very vague, I am not even sure what he implied with his post; so lets not get ahead of ourselves.
If a national cryptocurrency was invented then the fees of buying bitcoin from exchanges outside of India could be reduced if not avoided altogether, provided the crypto we come up with is accepted in other exchanges and is easily obtainable through more desi means.

[BTCIndia]

Laxmicoin failed, so did Kashmir coin, if this is 'yet another altcoin' what makes it any different ?

When did laxmicoin come out? ROFL, I thought that the coin was still in development(and I hoped to see some new innovations in it), but did it fail so badly that we weren't even able to notice it failing?  

Laxmicoin failed because, it couldn't head fake active national nodes. Apart from that, they didn't have comprehensive marketing, adaption and propaganda in place. It takes country to create a Bitcoin like successful currency.

Bitcoin being a global crypto has a very less impact in India, and not many people are involved in this space. I really doubt a national cryptocurrency would have much impact as most of the people who have used Bitcoin, would probably still stick with bitcoin and just like Bitcoin it would never be accepted by most of the financial institutions. I doubt any national crytp has been successful for long in any of the other countries.

Well what the OP said is very vague, I am not even sure what he implied with his post; so lets not get ahead of ourselves.
If a national cryptocurrency was invented then the fees of buying bitcoin from exchanges outside of India could be reduced if not avoided altogether, provided the crypto we come up with is accepted in other exchanges and is easily obtainable through more desi means.

Let me help you with implication of post: Dude, I've vague information about national cryptocurrency and I'm excited about it. I sincerely request you to take time to understand financial intricacies in order to better understand importance, need and impact of national crypto-currency when it is launched in near future. Yes, it is sure to fail. But, 'collective will' might create a palpable change.

As far as, "never accepted by most of financial institutions" is concerned, its been only few years. Give it sometime! You might be surprised to know, hedge funds faced much harsh criticism and backlash then Bitcoin when it was launched. Acceptance by financial institution is not matter to worry about. Most of the national crypto-currency failed because active participant couldn't see bigger picture or reality beyond propaganda. National crypto currency are inevitable. Our support will play crucial role and impact on economic drain.

I'm sorry! I bothered you people.

Continue with your stimulating discussions!

 

[BTCIndia]

Laxmicoin failed, so did Kashmir coin, if this is 'yet another altcoin' what makes it any different ?

When did laxmicoin come out? ROFL, I thought that the coin was still in development(and I hoped to see some new innovations in it), but did it fail so badly that we weren't even able to notice it failing?  

Laxmicoin failed because, it couldn't head fake active national nodes. Apart from that, they didn't have comprehensive marketing, adaption and propaganda in place. It takes country to create a Bitcoin like successful currency.

Bitcoin being a global crypto has a very less impact in India, and not many people are involved in this space. I really doubt a national cryptocurrency would have much impact as most of the people who have used Bitcoin, would probably still stick with bitcoin and just like Bitcoin it would never be accepted by most of the financial institutions. I doubt any national crytp has been successful for long in any of the other countries.

So far it has negligible impact on India. But, same won't be case in future. There are many people involved in this space, more you can ever imagine. Just to quote, "India was one of prominent supplier on silk road."
Yes. People will tend to stick to Bitcoin and here comes our responsibility to show them pron's and con's. Rather then suggesting, 'buy,buy,buy.'

Every coin has two sides. No matter its virtual Bitcoin. This is problem with Bitcoin users(including me), they understand Bitcoin and claim to understand everything else that forms sub-set of Bitcoin. Anyways, we're two different frame of mind, now.

P.S: I've been where there once and decided not to stop inquiring.

[Benson Samuel]

This thread makes no sense. A  National Cryptocurrency? Does that mean that we have finally figured out a way to geographically isolate a cryptocurrency? How? Why? Nvm?

Missed the point? nvm.

[BTCIndia]

This thread makes no sense. A  National Cryptocurrency? Does that mean that we have finally figured out a way to geographically isolate a cryptocurrency? How? Why? Nvm?

Missed the point? nvm.

1.2 billion is isolation. Great maths!

[Benson Samuel]

This thread makes no sense. A  National Cryptocurrency? Does that mean that we have finally figured out a way to geographically isolate a cryptocurrency? How? Why? Nvm?

Missed the point? nvm.

1.2 billion is isolation. Great maths!

What does population have to do with isolation?

[BTCIndia]

This thread makes no sense. A  National Cryptocurrency? Does that mean that we have finally figured out a way to geographically isolate a cryptocurrency? How? Why? Nvm?

Missed the point? nvm.

1.2 billion is isolation. Great maths!

What does population have to do with isolation?

1.2 billion united can never be isolated knowing world population is approximately 6 billion. That is approximately 20 percent. Does it makes sense now?
Of course, 20 percent can be isolated when rest 80 percent are together. That would never happen, because there is something known as balance of power. I believe, 1.39 billion are getting ready and would be joined by other 143 million and so on. That makes only few hundred million left to isolate us.

Come back to this thread after decade and it would make complete sense.