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Author Topic: Should Ecuador be legally allowed to create their own digital currency?  (Read 1475 times)
iGotAIDS
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September 01, 2014, 03:13:46 PM
 #21

Oh wait, I get it, you're looking for someone to say, "No, Ecuador should buy Quarks because there is no Mining Monopoly that controls Quark." Right?
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wachtwoord
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September 01, 2014, 03:28:40 PM
 #22

I doubt anyone could stop them doing it.

America sometimes bombs nations if it doesn't agree with their internal politics.

Sometimes ? I think they need to disarm America like they did with Germany.

I wonder who 'they' represents in your sentence. No nation on Earth can at this moment. The citizens could but won't. Are you talking about aliens?  Wink

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September 01, 2014, 03:41:45 PM
 #23

don't get me wrong i'm not suggesting we bomb Ecuador or anything like that, I think we are a long way from there, but certainly sanctions could persuade them?

what? lol
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September 01, 2014, 04:27:41 PM
 #24

don't get me wrong i'm not suggesting we bomb Ecuador or anything like that, I think we are a long way from there, but certainly sanctions could persuade them?

what? lol

so you say bomb?

it's the wrong thing to do straight away i think.

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September 01, 2014, 06:27:00 PM
 #25

I find it a bit laughable that the general reaction from the bitcoin community is disgust at the fact that a country is attempting to modernize its currency system.

Although it's not too surprising considering anything that remotely goes against Bitcoin is viewed with utter disdain. That includes altcoins of course.

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September 01, 2014, 06:36:10 PM
 #26

Well if it should and should not be is discussable. The question if you could stop them legally? Not really.
I would stop them. What they are creating isn't even a real digital currency, nor do we need one that is centralized by them.

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September 01, 2014, 06:48:27 PM
 #27

don't get me wrong i'm not suggesting we bomb Ecuador or anything like that, I think we are a long way from there, but certainly sanctions could persuade them?

what? lol

so you say bomb?

it's the wrong thing to do straight away i think.

Ecuador can create whatever digital currency it wants, it's not yours or my business Wink

Isn't there some sort of international law that would make this sort of thing illegal?
No
Marlo Stanfield
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September 01, 2014, 07:34:27 PM
 #28

Well if it should and should not be is discussable. The question if you could stop them legally? Not really.
I would stop them. What they are creating isn't even a real digital currency, nor do we need one that is centralized by them.

They're digitizing their own money. So what?

Who is 'we'? Are you from Ecuador?

Why shouldn't they upgrade their monetary system to something more efficient than cash?

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September 01, 2014, 07:40:21 PM
 #29

Shit coin devs have flooded the market with hundreds of shit coins and nobody stopped them. If nobody can stop the shit coins devs then nobody can stop Ecuador. On top of that Ecuador might actually produce a coin that's not shit.
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September 02, 2014, 03:46:02 AM
 #30

Ofcourse they should be allowed to, that is like asking should BTC be allowed to exist, no?  I say more power to them but best to improve upon the foundation Bitcoin has laid out.  I think it could be a good way to generate money to their economy and can't blame them for trying it out.
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September 02, 2014, 10:06:13 AM
 #31

Ofcourse they should be allowed to, that is like asking should BTC be allowed to exist, no?  I say more power to them but best to improve upon the foundation Bitcoin has laid out.  I think it could be a good way to generate money to their economy and can't blame them for trying it out.

This looks like a step in the in the right direction...

Question: Wouldn't there be a legal issue if they use Bitcoin tech (particularly blockchain tech) and not keep it open source? How would the open source license be enforced?

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murraypaul
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September 02, 2014, 10:59:09 AM
 #32

Ofcourse they should be allowed to, that is like asking should BTC be allowed to exist, no?  I say more power to them but best to improve upon the foundation Bitcoin has laid out.  I think it could be a good way to generate money to their economy and can't blame them for trying it out.

This looks like a step in the in the right direction...

Question: Wouldn't there be a legal issue if they use Bitcoin tech (particularly blockchain tech) and not keep it open source? How would the open source license be enforced?

No.
Bitcoin is licensed under the MIT License, which does not require sharing of derived source code:

https://github.com/bitcoin/bitcoin/blob/master/COPYING
Quote
Copyright (c) 2009-2014 Bitcoin Developers

Permission is hereby granted, free of charge, to any person obtaining a copy
of this software and associated documentation files (the "Software"), to deal
in the Software without restriction, including without limitation the rights
to use, copy, modify, merge, publish, distribute, sublicense, and/or sell
copies of the Software, and to permit persons to whom the Software is
furnished to do so, subject to the following conditions:

The above copyright notice and this permission notice shall be included in
all copies or substantial portions of the Software.

THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR
IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY,
FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE
AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER
LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM,
OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN
THE SOFTWARE.


If the only library is closed source, then there's a project to make an open source one.

If the only library is GPL, then there's a project to make a non-GPL one.

If the best library is MIT, Boost, new-BSD or public domain, then we can stop re-writing it.

I don't question that GPL is a good license for operating systems, especially since non-GPL code is allowed to interface with the OS.  For smaller projects, I think the fear of a closed-source takeover is overdone.

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chowderman
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September 02, 2014, 05:18:48 PM
 #33

So, what I am and I believe others with even a shred of reasoning in their brains is seeing, that all is fair in "Free-market society" unless it doesn't involve bitcoins or serve your specific interests in some way?

The entitlement some people display is Fucking unbelievable...
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September 03, 2014, 05:13:38 AM
 #34

Maybe Ecuador will start something like cojacks

http://www.thedenverchannel.com/news/local-news/business-launching-new-colorado-currency-called-cojacks

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