No. When the last Bitcoin has been mined we'll be completely screwed. Dogecoin is inflationary, making it a better alternative.

But in the end, this needs to be heavily researched before any action is taken. We can't just jump straight into a digital currency.

The ease of using Bitcoin in a financial transaction poses a direct threat to the cumbersome commerce platforms used by the credit card companies and the Banks. Time holding funds is where they make money. Bitcoin renders their participation unnecessary and is more competitive for the benefit of the consumer.

In time when third parties have perfected security & user friendliness, people will apply it quite matter of fact. Its redeeming quality is its effectiveness as a platform for person to person financial transacting immediately, cutting out this lag time the banks have been prospering from.

This key fact is now the conclusion and focus of the main players on the world stage that realise its significance over the loud noise and sensation. Players like Facebook who have accepted several Bitcoin integrations to eBay who expect some Bitcoin integration with Pay Pal later this year.

While there has been some bad and rather frightening press lately, involving cyber criminals and lots of stolen funds, this does not remove the redeeming quality of Bitcoin and its imitations. I think the internet party needs to offer caution and calm in the sea of alarmists that litter the landscape.

I don't think the internet party needs to adopt a cyber currency or whatever you want to call it - ( I prefer protocol or digital asset ). I think we merely need to be aware of what it really is as well as, what it really is NOT.

Which coin will become the digital coin of choice is not up to Governments, or economists, researchers and business elites alike, its already been decided by its uptake around the world, that horse has already bolted I'm afraid.

Some Governments try to suppress it - epic fail, others try to regulate it, some try to downplay it like its a meaningless fad for nerds, terrorists and money launderers ( similar to the original views about the internet back in the 90s ).

Governments actually have no choice but to eventually come to grips with this internet currency protocol, just like they had to come to grips with the internet that it runs on.

My proposal accepts this inevitability and current reality as a fait accompli, the same as any other disruptive tech ( computers and the internet for example ) that Governments have had no choice but to come to understand and try to control.

My question is, being this is 'The Internet Party', should it be promoting at least one of the established cryptos that the world is moving to, a bit like how the Greens promote the use of certain environmentally friendly products.

How does this sound for a proposal then:

"Being this is ‘The Internet Party’, should it be promoting at least one of the established cryptos that the world is moving to, a bit like how the Greens promote the use of certain environmentally friendly products."

Thoughts?

Reworded:

“Being this is ‘The Internet Party’, should it be promoting at least one of the established crypto currencies such as Bitcoin, Litecoin, Dogecoin or other, that the world is moving to, a bit like how the Greens promote the use of certain environmentally friendly products.”

On the main Internet Party site it states the following:

"Digital Currency

Introduce a government-sponsored digital currency.
The Internet Party will support the introduction of a New Zealand-sponsored digital currency that is safe, secure and encrypted, providing for instant international transactions at minimal cost. By becoming a digital currency leader, New Zealand can become a key hub for a growing financial sector.
*Policy details will be in our upcoming manifesto."

Regional coins whether reserve intended or not, will fail on the back of worldwide implemented protocols such as the Bitcoin P2P crypto currency protocol. They will also not receive the needed attention any new protocol needs to develop it and harden it against cyber attacks.

Reading through the various topics that are trying to create an alternative to Bitcoin, unfortunately its beginning to sound like the emperors clothes scenario. Some people actually believe the current Bitcoin movement can merely be ignored in favour of some Government sponsored crypto-coin. There is a subliminal belief that if the Internet Party merely does not promote Bitcoin, that this will somehow stem the flow of uptake in this country.

Please do not try to create a Government crypto-coin, it will fail.

A level of pragmatism and recognition of fact is needed here for people to realise that the crypto currency can-of-worms is already spilled out, Bitcoin has established itself as the crypto currency of choice / store of value standard, and several spinoffs like Litecoin and Dogecoin are holding their weight as potential front runners for your every day transaction coins.

What the Internet Party needs to do is figure out how this country can safely uptake and implement these existing coins, which ones it should promote, and start promoting safe methods of use.

Trying to pretend that there is a government controllable alternative to Bitcoin is naive and ignores the reality of how far down the crypto currency rabbit hole the world is currently at.