Archived "Vladimir Putin Endorses Russia's New Cryptocurrency" - the CryptoRuble (sputniknews.com)
submitted ago by k_digi
Posted by: k_digi
Posting time: 3.1 years ago on
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Archived on: 1/15/2018 10:00:00 AM
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Archived "Vladimir Putin Endorses Russia's New Cryptocurrency" - the CryptoRuble (sputniknews.com)
submitted ago by k_digi
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[–] k_digi [S] ago (edited ago)
@yergi
if the issuance is such that individuals have to 'swap' existing rubles with the new crypto ruble then the key point will be what is controlling the continued issuance. (the ongoing issuance)
again if it is some fixed algorithm then any new issuance is not controlled by the 'Central Bank' and all assessments of 'success' must come from the algorithm details.
if issuance is just at the whim of a programing change (an account entry of issuing the paper ruble) then you are totally correct in your overall assessment and nothing has changed.
again it's all about issuance (or ongoing issuance) dynamics and details.
Why i believe this swap will be the way this is initially issued is because it seems to solve a lot of the likely perceived problems/concerns
it certainly seems that's how issuance will proceed, then the details become continued issuance and the ratio swap (if any) upon initial 'issuance'