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

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.


Buckaroo Banzai tmosley Sun, 10/29/2017 - 12:29 Permalink

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?

In reply to by tmosley

tmosley Buckaroo Banzai Sun, 10/29/2017 - 12:35 Permalink

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.

In reply to by Buckaroo Banzai

Buckaroo Banzai tmosley Sun, 10/29/2017 - 12:41 Permalink

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?

In reply to by tmosley

Nature_Boy_Wooooo Buckaroo Banzai Sun, 10/29/2017 - 12:49 Permalink

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.  

In reply to by Buckaroo Banzai

tmosley Nature_Boy_Wooooo Sun, 10/29/2017 - 12:52 Permalink

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.

In reply to by Nature_Boy_Wooooo

Buckaroo Banzai Nature_Boy_Wooooo Sun, 10/29/2017 - 13:08 Permalink

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.

In reply to by Nature_Boy_Wooooo

Buckaroo Banzai GassedUpOldMan Sun, 10/29/2017 - 13:13 Permalink

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??

In reply to by GassedUpOldMan

Hyjinx Buckaroo Banzai Sun, 10/29/2017 - 14:30 Permalink

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. 

In reply to by Buckaroo Banzai

marysimmons Buckaroo Banzai Sun, 10/29/2017 - 13:10 Permalink

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.…

In reply to by Buckaroo Banzai

moobra Yukon Cornholius Mon, 11/13/2017 - 22:44 Permalink

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

In reply to by Yukon Cornholius