Bitcoin Just Spiked Back Above $6000 As Catalan Considers Blockchain-Backed e-Residency Program

Tyler Durden's picture

It's 9am in San Francisco (and 5pm in Barcelona), so it's time to panic-buy some crypto-currency...

Bitcoin just surged over $200, back over $6000.

And Ethereum is back above $300...

For now the catalyst is unclear. However, amid increasing tensions folowing Spain's impositin of Article 155, as reports, Catalonia, which is fighting for independence from Spain, is considering an e-residency program similar to the one in Estonia. Catalonia is also considering adopting its own digital token or cryptocurrency.

The Government of Catalonia, the Generalitat de Catalunya, has sent representatives to Estonia to learn about the e-residency program, which offers a government-issued digital identity card that provides a way to operate a location-independent business online.

Dani Marco, the director of SmartCatalonia, an official Catalan agency, said the Estonians built a model of economic development from scratch. Marco appears to be heading Catalonia’s e-residency initiative.

Catalonia continues to move forward with plans to create an economy separate from Spain, according to El Pais, Spain’s leading newspaper. Estonia’s e-residency program serves as Catalonia’s model and could emulate an Estonian proposal to issue national blockchain based tokens.

E-Residency Benefits

El Pais reported that Catalonia is interested in Estonia’s e-residency program since the program has no borders. The e-residency program has attracted more than 20,000 entrepreneurs from 143 countries since 2014, including 336 from Spain.

El Pais further reported that Catalonia has the largest number of entrepreneurs and those working with virtual currencies in Spain.

Vitalik Buterin Weighs In

Blockchain experts in Catalonia have sought help from Vitalik Buterin, Ethereum’s founder, according to El Pais. Vitalik advised the Catalonians to create an ICO to offer a currency that would work in tandem with the financing of a business project for the virtual residence program. The e-residency ecosystem could create an economic community independent of a central bank.

Estonia recently proposed “Estcoin,” a national cryptocurrency. If the country follows through on this plan, it would be the first national government to launch an ICO.

Kaspar Korjus, managing director for Estonia’s e-residency program, posted a Medium blog in August claiming Estonia could offer Estcoins to residents. The coins could be managed by the Republic of Estonia, but accessed by anyone through the e-residency program. The program would launch an ICO to offer the coins.

Korjus also said the ability to start a location independent company is the main factor driving the growth of the e-residency program.

image courtesy of CoinTelegraph

As CoinTelegraph reports, while the Blockchain residency program would be the first of its kind in Europe, perhaps the bigger news is that an independent Catalan government would likely not have a central bank, choosing a national cryptocurrency instead. With Russian and Kazakhstan already suggesting national cryptocurrencies, the move would not come as a huge surprise.

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E-Knight's picture

Get it while the getting is good, but always have an exit plan (ie silver)

E-Knight's picture

That being said, the good times might be over soon, the market cap has really stagnated the last couple months.

Rusty Shorts's picture

BitCoin is the next ENRON, bitchez

tmosley's picture

^---This is what peanutz ACTUALLY believe. 

BaBaBouy's picture

Bitcoinz isn't blockchain.

Blockchain experts are the real Value...

Rusty Shorts's picture

You really think the Banksters going to let this shit fly? hahahahahahaaa. Sheep to the slaughter it will be.

tmosley's picture

You are a very scared little man.

Mango327's picture


Raffie's picture

Whatever you say Chicken Little.... *buk buk*


abyssinian's picture

I think I saw this Crusty shorts clown in one of the Antifa protest. He was throwing rocks screaming about bitcoin is a fraud.. lol what a freaking tool

mrtoad's picture

Get gold then, cause they dont touch that.

Buckaroo Banzai's picture

tmosley, what are your thoughts on Segwit2x. I've studied it carefully and it looks like a Jew scam to hijack the blockchain. Of course the upside of that is, it's attracting a shit-ton of Jew fiat to BTC. Hating myself for getting rich, but what's a goy to do? Always thought Roger Ver was a sperg but IMO he might be onto something with Bitcoin Cash. Thoughts?

tmosley's picture

Don't really have any. I say let the best coin win. Hodl all forked coins.

Shit is moving way too fast to try to pick winners and losers. Just buy the top (non-compromised) coins and hodl. If there is some other coin you have discovered and learned about in some detail, then buy some of that and hodl it as well.

With this price spike, I won't be net buying any more bitcoin. I am thinking about buying more IOTA though. Might double my position with the big downturn it has been in.

Rusty Shorts's picture

Oh god, it's fonestar - aka "tmosley"

Buckaroo Banzai's picture

Shit, it's a shame I'm not Fonestar. Assuming he hodl'd, that guy has been laughing all the way to the fucking bank.

tmosley's picture

The bank which he bought. Along with the island nation that he also bought.

FactDog's picture

As well -- "BindarDundat" pushed BTC.

They were both Canadians and they were both right.  AND likely they are both richer than they were.

Mustafa Kemal's picture


If only..."

Indeed, what kind of ad hominim is that when you compare to fonestar.

Indeed, sigh, if only!

Buckaroo Banzai's picture

Fair points. Clif High says BTC will hit $13k by next February, but admits there will be pullbacks and consolidations along the way. He's been hilariously wrong about silver and gold but his BTC calls to date have been solid. That said, it does look like its time for the altcoins to take a little run. What do you like besides IOTA?

tmosley's picture

LTC (best tech ready to replace BTC if they fuck up too badly), Dash, Monero, zCash for their anonymity, and ethereum, with the latter being a bit of a longer term investment betting on corporate adoption of the ICO model.

And as I said, I am also hodling my "free" BCH and BCG.

SoilMyselfRotten's picture

Cliff is also high on Veritaseum, Omisego, Litecoin, Populous, Pillar to name a few. But most action appears set for late this and early next year so it may be quiet for a bit.

tmosley's picture

Dash has DarkSend, which is a good anonymity feature. From your article, I wouldn't exactly call zCash "backdoored". Edward Snowden likes it, and that is about as good an endorsement as you can get in my opinion.

anarcode's picture

Monero is better. No trusted setup, has been around for a while and privacy is on by default.

0valueleft's picture

I don't why I like Charlie, but I do. I've tryed to stop buying LTC on weekness, but I can't. 

TwelveOhOne's picture

What process did you follow to split your coins?  I've got mine in the Bitcoin Core wallet, so I know I need to move the private keys to another wallet.  Appreciate your insight, thanks.

Bay of Pigs's picture

Clif High?

That guy is in the Twilight Zone. Thousands of failed predictions and he gets ONE correct on BTC and he's the guy to listen to? Fuck me.

SoilMyselfRotten's picture

He may well be full of chit but until he is stupid wrong on cryptos i'll continue to give him a listen

Buckaroo Banzai's picture

Agree with you regarding his "predictive linquistics" which has been kind of a bust, but he is an old-school programmer and, unlike most crypto pundits, actually understands the technology behind blockchain and BitCoin, so at least he is well informed on the cryptocoin value proposition.

Bay of Pigs's picture

Fair enough.

Point is, the guy was mocked and ridiculed here by many crypto lovers when his PM predictions failed. Now they love him? Come on....

Jack's Raging Bile Duct's picture

IOTA is the only crypto I have taken interest in on a fundamental basis to buy. It is purely speculative, but the utility is high with interesting possibilities. It comes the closest to actual money as a crypto can be at this time, but again, purely speculative.

tmosley's picture

Very good information to have. I shall belabor their slack with this article this evening.

Buckaroo Banzai's picture

LOL, check the comments on that article. Some Jew named Epstein identifies himself as an advisor to IOTA, and then accuses the author of libel. Typical fucking kike move.

Bad cryptography, combined with Jew shenanigans, does not engender confidence in their cryptocoin.

ZH Snob's picture

litecoin, baby.  it's got the brightest future of all, and anyone can afford 5 or 10 of them NOW.

Nature_Boy_Wooooo's picture

Bodog fugitive Calvin Ayre hanging out with Craig Wright and Roger Ver pumping BCH............. I'll pass. Roger is no "Jesus" the real Jesus would not be associated with Calvin Ayre. Calvin was busted many years ago front running stocks in Canada and now he is trying to manipulate BCH for his own personal benefits.

This whole S2x thing is starting to look like a plot to weaken BTC. Looks like Calvin and his crew are pumping BCH right now hoping to have momentum when the fork hits.

This is of course just my opinion though.



tmosley's picture

Fine by me. I'm positioned to benefit from any such situation. I would benefit ENORMOUSLY from BTC losing top dog status to one of the alts. Don't really see the forks taking over, since they are the same mostly shitty tech that bitcoin is composed of.

Maximalists and better informed people please correct me if I am wrong. Really haven't taken any time to learn about these forks.

Buckaroo Banzai's picture

Nature Boy, if you are suspicious of Segwit2x then that puts you on Roger Ver's side, by definition. I share your concerns about his unstable personality, but frankly have been coming around to his point of view on Segwit2x, and given that he has been pounding the table on that for a long time--and actually did something about it by helping create BCH-- he has earned some real credibility IMO.

GassedUpOldMan's picture

I'm not tmosely but I do agree. Segwit is fine. 2X sounds like a scheme to reduce the number of nodes which have the space to store a full blockchain.

Buckaroo Banzai's picture

Segwit2x is a scheme to take transactions off the blockchain, and limit the blockchain to a settlement layer. Of course the next question is, who controls the transactions once they are off the blockchain? Answer: "trusted intermediaries", i.e., banks, and we are right back where we were before satoshi invented the blockchain. The whole point of blockchain was to disintermediate "trusted intermediaries" and create a trustless financial infrastructure, so why the fuck would we want to put them back into the equation??

GassedUpOldMan's picture

Exchanges need less people to have full nodes so they can make their 0.15% exchange "fees".

Hyjinx's picture

Segwit has already happened on BTC core.  Segwit2x is just an expansion to 2MB blocks.  Lightning network will add this settlement layer and BTC core was planning on implementing exactly that.  During the usual FUD and chaos after the fork the price will definitely dip.  I'm back in since $5500 and will sell 1/2 pre-fork and hold the rest to get both coins.  I'll use the cash from the sell to buy the bottom of the winning coin if that is clear post-fork. 

marysimmons's picture

Segwit2X is nothing less than an attempted banker take over of BTC.  The fact that Core wasn't invited to and didn't sign the NYA should raise HUGE red flags.  Also, the people behind the Digital Currency Group that are spearheading Segwit2X, like Barry Silbert, Glenn Hutchins, and Lawrence (Larry) Summers, are hardcore agents of the endemically corrupt financial status quo we now have.  Anything these people are behind will not be good.  The status quo have finally realized they cannot stop decentralized digital currencies, like BTC, so now they are trying to join it and take it over. They are wolves in sheep clothing.  I think the average blockchain techie or newbie to digital currencies has no idea how unscrupulous and powerful these people, and the people they represent, are, and how much influence and money they have behind them.


After the Segwit2X issue gets resolved in a few weeks, alts will moon for the year, IMO.  2018 will be the year of cryptocurrencies, and it will be epic.

bcking's picture

Ah, jealousy and disbelief. I"m sorry you are a Luddite. You realize they make cars that you don't have to hand-crank don't you?

Billy the Poet's picture

Soon your car will be on the network and you'll be napping in the back seat. Sounds like less freedom to me -- a bird in a bitgilded cage kind of thing. Technology can cut both ways, remember that.

moobra's picture

The engine will also calculate your minute by minute carbon footprint and tax you by the second while flashing environmental warnings.

The stereo will eavesdrop on conversations for later analysis by the NSA.

The number of unused seats logged per trip will attract a luxury tax.

The "autonomous" car won't recognise commands when you have a cold or laryngitis.

Industry hackers will be paid to increase your ECU fuel consumption randomly so that fuel price hikes can be justified by demand.

Never ending

Raffie's picture

the more you said it, does not make it true.

You will be saying, "Bitcoin will crash any second now....." for the next 50+ years with no success. 

Just saying.......