Italian town wants to mint own money

[JackH]

Italian town wants to mint its own money because of debt crisis and merger of multiple towns. Check full story here: http://www.cnbc.com/id/44322945

Excuse me, but are we just bad at getting our message out in regards to Bitcoin? Why on earth would you want your own currency shared between 550 people when a perfectly capable currency such as Bitcoin exists.

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[wolftaur]

Italian town wants to mint its own money because of debt crisis and merger of multiple towns. Check full story here: http://www.cnbc.com/id/44322945

Excuse me, but are we just bad at getting our message out in regards to Bitcoin? Why on earth would you want your own currency shared between 550 people when a perfectly capable currency such as Bitcoin exists.

They can make as much as they want without buying five thousand GPUs would be my guess.

Poor economic policy got them into the mess, obviously poor economic policy will get them out, right?

[elggawf]

Standardizing on Bitcoin in a town of 550 people would be a fucking mess.

Standardizing on Bitcoin with it's value fluctuations would likely be more damaging than just keeping the euro or using their national currency.

[Gabi]

They don't want bitcoin, they want to protest against the new laws and they are doing that by establishing a "principate" with his own money and what else. But it's a protest, it's not that they really want to stop using euro

[Sukrim]

They would be better off with creating a bitcoin fork where all coins are mined in the genesis block, blocks are generated by only one (certified) miner and much faster than every 10 minutes.

Wouldn't be distributed any more but only be a transaction system - BUT you could still use bitcoin apps etc. with only minor modifications.