Iceland, Banksters & Auroracoin


This is a placeholder for consolidating topics about Iceland’s economy.

The Auroracoin Experiment - Icelands Crypto

Interesting article.


The article makes it sound like all the problems were tech & distribution issues…

“political climate in Iceland was ideal for introducing a radical idea”

That premise is (and was) untrue.

The people of Iceland in general are very conservative. Think farmers & pitchforks. It was not radical at all to refuse to pay for the errors of thieving banksters, it was a deeply conservative reaction to having the cookie jar robbed by carpet baggers from Europe. Their Icelandic bankster accomplices are all in jail now and there will never be any sort of “bail out” for the shareholders left holding the bag. Again, think farmers and pitchforks.

Former heads of failed bank #Kaupthing receive the heaviest jail sentences for financial fraud in #Iceland’s history. BirgittⒶ Jónsdóttir (@birgittaj) - February 12, 2015

The groups responsible for Auroracoin did make some basic mistakes, but the most basic was expecting every-day people to embrace a new and strange form of currency. That never happened. Support for “The Movement” and Iceland’s “Pirate Party” (both headed by Birgitta) never exceeded 5% - 15% at the peak of indignation.

This is not to say there are no lessons to be learned from Iceland, but simply to acknowledge that willingness to embrace radical solutions generally requires a much greater social disruption than what occurred in 2008. The situation there never approached that of the Weimar Republic in Germany in the 1920’s.


I would expect Icelanders being the Vikings they are, to hand out some stiff sentences, sometimes the old way IS better. Punish one harshly so the rest will learn. Edit…to bad no Blood Eagles where handed out…NOONE would try that again.


What kind of burger they have in Iceland?


Cod Burgers


The whole cow, have you seen some of those guys?
Edit, for comparison I give you…


Slightly off-topic… I went to Iceland in 2013. On a tour they told us of the financial problems they have there. I think it was about 20% of the populace are broke? Tourism is what is keeping a lot of them going.

Apart from that great people and beautiful country. Would love to go back.


In Iceland they eat rotten shark flesh, and according to my girlfriend who is off to visit there this year, they have the worlds largest ■■■■■ museum.

They are also responsible for Bjork. And that abnjfrbgijhvbhdvbbfvb volcano that shut down half of European air travel for days.

Locking up their bankers makes up for a lot of what they’ve inflicted on the world :slight_smile:


Atleast one government got it right. Dont bail out the banks it just lets them know they can get away with theft, and the Government has their back.


That was a little tiny volcano explosion, by Iceland standards. The last time Laki blew in a big way Europe was smothered by sulfuric acid, crops couldn’t grow & the French revolution started. But Katla is bigger than any of them & when it goes it’ll affect weather everywhere for at least a year.


At first the Icelandic parliament was going to pay off & bail out the banksters. But most of the people of Reykjavik stood outside the meeting and threw eggs at the MP’s no kidding. They egged their Congress & then they voted in some Pirate party members & after that they started collecting evidence to prosecute & now the banksters are in prison.


I’ve been to Iceland during Eve Online’s FanFest. I liked what I saw there and would consider moving there permanently.


Move to Australia we have better weather and our women don’t look like Vikings


What’s wrong with women that look like vikings? This one’s a bit of a hotty :wink:

Educational side note: Viking was a verb, as the north men went a viking. The person who went viking was a vikinger, which spell check doesn’t like.

Consder yourselves educated GH community :slight_smile:


That may be true, but in Iceland every creature is not trying to kill you.