In November 2008 In terms of size, Iceland experienced the greatest shock in the economic history I was born here in Iceland and left when I was three and a half years old to the United States I went young to program computers passed through the University of Texas started accounting for a large audit firm after that and have worked with technology for the past 25 years Mikjáll Hannes Speaks of coin mint This method, to create new money leads to more money in the economy which leads to the fact that all the money in general become less valuable In other words, it is inflation I try to inform people about the main shortcomings of the current economy so that we can return to the time when we create our own favor where we create our security and future Electric coins are a new money system It's on the internet and it's unmanaged there will be only a predetermined supply of the coin so banks can not produce more coins from the open air Friends, can I get your attention? Well, first when the Aurora coin was released in 2014 people did not completely ignore the term That would be our main task today to explain to people how electric coins function and why they are important uh, before you explain to people whose Aurora coin works and other electronic coins do not we need to explain to people how ordinary money works? and a good way to answer this would be to tell people the story of Yap Yap are the islands of the South Pacific Yap is a small archipelago in Micronesia There is no metal on the islands and therefore nothing to produce coins Instead, people sail over to an island that is 250 miles away to pick some limestone as they cut into slices and bring back to be used as money Some of these stones are vastly large, 10-12 feet wide too big to move them so when they are used to buy or sell items everyone agrees that the disc is someone's property now They can be used in business more than a hundred times without moving the dial by inch Real money is not the stone keeps the idea of who has the stone registered in the memory of the almighty It's this registry that's the real money Ever since the Medici banks in Florence the banks have kept this file and that's what opens for corruption Our current money system is faulty it's complicated! a small number of people can create all the wealth in society at the expense of all others There are two big things that make electrical coins different is that it is uncontrolled there is no midfielder which may change, corrupt or cheat in any way and this is what the Aurora coin itself is.
Tools for the Icelandic public in order to avoid huge inflation and impairment of own funds the currency they have worked hard to acquire what about that person, baldur? Baldur.
? uh, Friggjar Óðinsson? Baldur Friggjar Óðinsson which is the combination of names of three gods of Nordic mythology he presented an interesting experiment electric coin custom for the Icelandic nation but nobody really knows who this person, Baldur Friggjar Óðinsson was He has maintained anonymity throughout the process He, she or that, I mean, it's not it could be a robot after all There was a lot of people skeptical about anonymity people wanted to know who he was people trying to get up on I think the reason Baldur wanted to keep anonymous because because he was at risk he started the experiment the coin started and hit the ball let me ask you for this how can i help The best thing anyone can do is educate himself about the coin and assist in educating others Having traders who receive the AUR coin is fundamental in the existence of the coin, its growth and adaptation as an industry in high economic growth would the tourism industry be chosen for the adjustment of the AUR coin Magnús Helgason Guide I'm trained in economic history and in 2009 I worked for Special Investigation Commission who investigated the fears of the economic collapse and last year there has been a presentation called Walk the crash during the settlement period if you were convicted of serious crime for example, murder, you would be sentenced to exile but if you do not overlook the island you would have to hide and be so righteous you were the meeting Last summer there was a caveat which contained antiques that could be restored during the conquest so the story says that there we had found a cave that had been a rural emigration from the time of the conquest It is a tourist's appreciation that we have been able to reach us so well after the collapse so these funny statistics that I think are something like this If this continues, then in 2053, every single person on earth will be to visit Iceland Twice a year let me ask you what are your feelings about the AUR coin available as another form of payment in the tourism industry? People are not going to adapt this until they understand how it works I mean, I do not even understand it myself how does this work this is a technological innovation because this allows the use of advanced encryption to ensure that all records of funds are not at risk of falsification or forgery of ownership Every other minute, all records are summarized in a bunch of entries These bunks will eventually be placed in the bunk chain which is a common data base It is a list of all the secure entries that have been made funds can not transfer from one account to another without going through this safe process Similar to Sudoku, this begins as a puzzle and it takes a long time to solve the puzzle but it takes a short while to confirm that it was done correctly and the mines get a prize for participating in the security of the system by taking a coin It is the process called the elective course in order for the currency to go smoothly he must first be recognized widely this is really like "catch-22" in order to complete that step I think it's a big challenge and I think it's very hard to get around We face the need not only to prove to new users and customers and merchants but we also need some time to deal with negative coverage from the present negative coverage from the current banking system, the central banking system This is a question of how political decisions in the future will be will affect how the AUR coins and other electronic coins will grow organically The fisheries industry has historically been Iceland's largest industry and although he takes a second place in tourism it is an ideal market for us to pursue in order to increase the adjustment of the AUR coin The fishing industry is anchor in Iceland The cod is here the industry is here has kept everyone alive here for hundreds of years It was one loan I had it was around 800,000kr.
and when the crash and this happen I will go to the bank and The loan has risen to 2.
5 million ?? now the big guns ?? a lot of people got very badly out of this this was the way everyone had a flat screen everyone bought Mercedes Benz pickup from the US you understand, and the like Patience, you have to be patient It's a bit like everyone's full of kindness It all ran away and everyone got thin yeah! Very thin and then when came to the collapse raised the loan about what, 5, 6, 7, million if you were 10 million then doubled or tripled These were all very strange hours There was a financial loss going on people thought it had plenty of money to spend Yes Yes Well let's check here we are on groundwater, that's 3-4 meters okay do you have one? this is the liver There must have been a little awareness awareness for Icelanders look back at the banking system and ask yourself, "hear wait, what's really going on here We've been paying for three years, I owe more now than I did them and now the bank threatens to either cough up this money or lose what I've been investing for a few years " It made you think if it's not time for it now for for people to be open to the new monetary system I think of future generations the young people and they elderly who hold fast on the króna I think time has come very likely that Icelanders are open to this when you work in the structure of a solid monetary system system that does not swell then you know that the savings you accumulate over the years You know that this money does not deteriorate due to inflation There are risks in this area but what it takes is that people participate and do something preventative to be safe in their savings and to be safe with the wealth it has built up It allows you to expand your human being allows you to avoid fear of how You must pay the account at every month and began to live a more meaningful life We are able to do so much but when we are trapped broken financial system it prevents us from actually experiencing freedom.