Category Archives: nation states vs bitcoin

Inspired by the move in Iceland to bring in a nation state crypto currency called Auroracoin (AUR). How do nation states and bitcoin or other crypto’s relate to one another?

The Nation State and the Rise of the Crypto Currencies

Auroracoin (AUR)Should nation states create their own crypto currencies to circumvent the crippling dept imposed upon them by the Western banking cartels? Would the nation state mine or pre-nine the coins? Would there be a mechanism for inflation my allowing an infinite number to be mined? Would the common people be able to mine the coins? Would a portion be given outright to the people?

Today I was checking in with and to my surprise noticed a new crypto called Auroracoin (AUR). I followed the link to the official page and was very intrigued by the following:

Auroracoin is a crypto currency for Iceland. It is based on litecoin and is 50% premined. The premined coins will be distributed to the entire population of Iceland, commencing on midnight 25th of March 2014.

The website is an awesome read and a incredible idea. Make sure to check it out!