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Quis custodiet the custard?
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So Scotland is going to have a referendum about devolving (separating) from the UK. But because it is possible that the Scots might just decide that they want out, a number of forboding announcements have been made by establishment figures. Apparently an independent Scotland can't share the pound or
use the Euro, etc.
Popular suggestions for currency include the 'poond' and the groat. However, I have an alternative proposal. This is an opportunity in disguise. Scotland should adopt the BitCoin as its standard currency.
This should stabilise the bitcoin through the increased usage. Scotland would immediately gain a currency recognised thoughout most of the world, and kudos as a bastion of privacy in the financial world.
Physical Scottish bitcoin tokens could be minted if necessary.
Max Keiser, 11 Feb 2014
Be the first new nation to launch itself on the blockchain... [pocmloc, Feb 26 2014]
A Lesson in Economics for Engineers
Speaking of the gamble [ytk] mentions. [swimswim, Feb 26 2014]
speach that sums up Scotland to pefection [xenzag, Feb 26 2014]
someone _listened_ to me!
Now, can I interest you in these other fine ideas..? [Loris, May 13 2014]
Lady Alba says " I'm votin' naw! "
[normzone, May 13 2014]
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||BitCoin (or any cryptocurrency for that matter) will
never be adopted as an official currency until there is
a truly libertarian state. Since it's completely
decentralized and can't be directly controlled, it
takes economic power out of the hands of the
government. Unfortunately, we don't currently live in
a world where governments see reducing their own
power as a goal in itself.
||Even if there were a government that didn't care
about the power, you also have to get past the issue
that it requires a leap of faith to gamble your
economy on a game where you can't even tilt the
||Ha - the idea that Scotland won't end up with billion percent inflation, just like Uganda did, is actually quite funny. Here is a country where the life expectancy of its citizens is one of the lowest in the western world, if not the lowest, and who's supercilious clown of a leader is named after a fresh water fish. I'm just surprised that the UK has not pitched them out years ago. The only thing they produce is Whiskey, and even this is mere copy of the original Irish. The best perspective on life in Scotland is to be found in the documentary film Trainspotting.
||[swimswim] I got as far as the phrase Fiat
currencies (money) are pegged to real assets before I
realized that the writer of that article was a total
and stopped reading.
||It should have said "Fiat currencies (money) are pegged to real assets OR backed by governments" instead of "AND".
||Uh, no, fiat currencies aren't pegged to any real
assets. That's what makes them fiat money as opposed
to representative money.
||Well yes. Ahem. That would appear to be... ahem. Hey
look over there!
||In Scotland this will be known appropriately as Shitecoin.
||I remember when Quebec came within a whisker of separating from Canada around 1995. I remember an interview with Jacques Parizeau (I think) who was asked what an independent Quebec would use for currency. He said "Quebec currently has 1/4 of the Canadian currency in circulation and will shall simply continue to use that whether Canada likes that or not". Then, when asked if they'd also take along 1/4 of the National Debt "Oh well, no that is Canada's debt and anything along those lines would be subject to much negotiation,..." etc.
||Anyway, the lost that referendum as well and at the time a higher percentage of Western Canadians were in favour of Quebec separating than were Quebecers.