UK Royal Mint Working On Plans To Issue Gold-Backed Physical Bitcoins
2013 12 02
From: Blacklisted News
The implicit, and ever more explicit, institutional acceptance of the dominant cryptocurrency Bitcoin (we say dominant because as we pointed out last week, there has been an unprecedented spike of digital currencies one can pick and choose from) continues when following the surge in vendors willing to transact in BTC over Thanksgiving, the latest news comes from the birthplace of the modern central bank, the UK, where we learn that none other than the UK Royal Mint has been working on plans since this summer to issue physical Bitcoins in collaboration with the Channel Island of Alderney.
But where the story gets downright surreal is that as the FT reports, the same symbolic Bitcoin token issued by the Royal Mint “would have a gold content – a figure of £500-worth has been proposed – so that holders could conceivably melt and sell the metal if the exchange value of the currency were to collapse.” In brief: a perfect, and utterly incomprehensible, fusion of (opposing) hard, soft and digital currencies all rolled into one…
From the FT:
The tiny Channel Island of Alderney is launching an audacious bid to become the first jurisdiction to mint physical Bitcoins, amid a global race to capitalise on the booming virtual currency.
The three-mile long British crown dependency has been working on plans to issue physical Bitcoins in partnership with the UK’s Royal Mint since the summer, according to documents seen by the Financial Times.
Read the full article at: blacklistednews.com
Tune into Red Ice Radio:
Clif High - Hour 1 - Bandwidth Caps, Bitcoin, ISON & Nummo Origins
Jason Erb - Hour 1 - Economic History & Alternative Currencies
John Perkins - An Economic Hitman on Predatory Capitalism & Corporate Monopoly
Catherine Austine Fitts - Swine Flu, Vaccination & The Economy
Bill Still - Hour 1 - Fixing Greece, The Crumbling EU & Monetary Reformation
Walter Block - Hour 1 - Libertarian Philosophy & Anarcho-capitalism
Tracy Twyman - Alconomics, Money & Magic
Today’s Strange Bitcoin Idea, The Gold Backed Bitcoin
Bitcoin site is hacked, with $1million of the virtual currency stolen
Meet Dark Wallet – How Crypto-Anarchists Will Store Their Bitcoins
Bitcoin Group to Meet with 7 Government Agencies
Why Bitcoins Are Just Like Gold: Both are valuable because we say so
World’s First Bitcoin ATM Is Announced - First Location: Cyprus
Bitcoin: Segway, Cigarette, or Gold Doubloon?
Latest News from our Front Page
Extremists to have Facebook and Twitter vetted by anti-terror police
2014 09 30
Theresa May to announce new Extremist Disruption Orders to strengthen counter-terrorism if the Tories win the next general election
Extremists will have to get posts on Facebook and Twitter approved in advance by the police under sweeping rules planned by the Conservatives.
They will also be barred from speaking at public events if they represent a threat to “the functioning of democracy”, ...
Scottish Independence: Protesters demand revote
2014 09 30
Pro-independence campaigners gathered outside the Scottish Parliament for the second day in a row, this time to demand a revote of the September 18 referendum.
While yesterday’s “Rally For A Revote” saw the return of Saltires and Yes banners to Holyrood, it did not match the turnout for the “Voice Of The People” rally held on Saturday, when up 3000 people ...
Water rationing hits California: limit of 50 gallons per person per day or face fines of $500
2014 09 29
Millions of Californians are about to be hit with strict water rationing -- daily "allocation" numbers that represent the maximum amount of water you’re allowed to use for any purpose. Households that exceed the allocation limit will face stiff fines of hundreds of dollars per violation.
"In July, the State Water Resources Control Board passed stage one emergency regulations, giving powers ...
Much of Earth’s Water is Older than the Sun
2014 09 29
Much of the water on Earth and elsewhere in the solar system likely predates the birth of the sun, a new study reports.
The finding suggests that water is commonly incorporated into newly forming planets throughout the Milky Way galaxy and beyond, researchers said — good news for anyone hoping that Earth isn’t the only world to host life.
“The implications of ...
Did the Vikings Get a Bum Rap?
2014 09 29
A Yale historian wants us to rethink the terrible tales about the Norse.
This illustration shows the stereotype of Viking marauders wreaking mayhem, even on clergy. The scene depicts the monastery at Clonmacnoise, Ireland.
The Vikings gave no quarter when they stormed the city of Nantes, in what is now western France, in June 843—not even to the monks barricaded in the ...
|More News » |