Virtual currency? That won't go down well, destroying centuries of history using real money. Plus, it's quite a brave and forward thinking idea, so its bound to upset around 1800 luddites. Kudos to HCC.
He's bound to slip up at some point and start referring to "Pakingtons" and "Chombies", in his time-honoured fashion.
Bitcoin was nonsense, generally supported by people in the hope of some sort of horrible libertarian utopia. As far as I can tell, this at least has different (and better) aims. Piecing stuff together, it seems like it might be a useful loophole to do some good in the City for at least a certain amount of time? Then again, it could be a huge and bizarre waste of resources... Ultimately, I don't know. And to be honest, if somebody actually understood things like 'Digital currency is "mined" into existence by a computer carrying out complex and specific calculations' - would you really want to listen?
Yes... I think this actually sounds like a really good idea. I'm interested to see how they explain it to the residents of Preston Road though. Or any other area...
Genius Idea in principle. Won't go the way of the bitcoin (which had its own 'hyper-inflation') and if managed properly it could work. I'll be interested to see how it could be transferred into actual physical currency or if it will be a case of you can only purchase stuff electronically with it
Still trying to work out if this an april 1st article . Isn't it a powerful processor you need to do digital mining and nothing to do with graphics cards ?
This was the first time I heard of the Bitcoin, suppose this is few and far between though: http://www.bbc.co.uk/news/world-europe-24737671 I’m not an economist so can’t thoroughly evaluate the fiscal benefits/pitfalls But, that important detail aside, I like the idea, Hull’s own currency, and I like fact it’s made national news. **** the pound.
My prediction for the current century is that the next economic crisis will be caused by virtual currency leading to hyper inflation/deflation of traditional currency.
Nah, its been around the Crypto Community for a few days now; https://bitcointalk.org/index.php?topic=549579.40
It's working perfectly well for people who got in early rather than just believing because it was all over the news they were guaranteed to make money out of it. They've existed since January 2009, their current value at $486 is less than half what it was at the peak of the bubble, but is also higher than it's been for all but the last 4 months of their existence. It's also $6 more than they were when I opened this thread and went to look for their current value.
They've dropped like a brick recently. Caused by multiple factors, the most significant being MtGox - a BitCoin exchange company operating out of Japan which "lost" 800,000 of its customers BitCoins. (At one point last year they peaked at $1,200 per coin.) I suspect if stories like this one come to fruition their value will only increase again.
