Pat! There is a kindly person lurking under that anti-Europeasn skin!
My faith in human nature has, once again, been justified.
Pat! There is a kindly person lurking under that anti-Europeasn skin!
My faith in human nature has, once again, been justified.
:-0 :?: :?: :?::!: :!: :!::help:
Interesting but imo - ebay is simply keeping an eye and ear out for quick buck so as not to miss out should it take off.
Donahoe said eBay hasn’t yet made any commitments to use the currency.
Last month the U.S. Treasury Department said it will apply money-laundering rules to Bitcoin and other virtual currencies, meaning firms that issue or exchange the increasingly popular online cash will be regulated in a manner similar to traditional money-order providers.
I think should it be accepted then any benefit will duly be knocked off once it becomes taxed.
As it stands it is lacking some of the important properties of a good currency.
1. Acceptability - Everyone must accept it to purchase goods and services
Not even 1% acceptability
2. Durability - It should last a long time If you don't back it up you can lose it.
3. Portability - Easy to carry around Perhaps with mobile phones but one still needs a mobile smart phone.
4. Scarcity - Scarce enough to be valuable, not common such as sand or pebbles on a beach
Don't understand what is to stop anyone creating a new version. Another new currency called 'Cin-coin' perhaps.
5. Divisibility - Can be divided into small units
There are more as well, these are the basic
Don't understand how this would work???
6. Cognizability
money should be easy to recognize
???
7. Malleability - money should be Malleable so that it could be made into new money.
I think some people will have something to say about this. Dodgy???
8. Uniformity - It means that All version of the same denomination of currency must have the same purchasing power so that very denomination must be in uniform..
Well at the moment the value is volatile as per article The currency is still volatile, making its prospects in retail sales risky. In April alone, bitcoins have ranged from $50.01 to $266, with an average of $114.94, according to bitcoincharts.com, one site tracking the currency’s value. The market for bitcoins is over $1 billion, according to the site.
So a bit of a non-starter and at level FAD until issues above resolved or enhanced or we change our mode of operation etc...
imho -
I can't work this out Pat
Are we not valuing Bit-coins in terms of silver? So what happens if China discovers a silver mine?
My brain feels fried...
Interesting but imo - ebay is simply keeping an eye and ear out for quick buck so as not to miss out should it take off.
Donahoe said eBay hasn’t yet made any commitments to use the currency.
Last month the U.S. Treasury Department said it will apply money-laundering rules to Bitcoin and other virtual currencies, meaning firms that issue or exchange the increasingly popular online cash will be regulated in a manner similar to traditional money-order providers.
I think should it be accepted then any benefit will duly be knocked off once it becomes taxed.
As it stands it is lacking some of the important properties of a good currency.
1. Acceptability - Everyone must accept it to purchase goods and services
Not even 1% acceptability
2. Durability - It should last a long time If you don't back it up you can lose it.
3. Portability - Easy to carry around Perhaps with mobile phones but one still needs a mobile smart phone.
4. Scarcity - Scarce enough to be valuable, not common such as sand or pebbles on a beach
Don't understand what is to stop anyone creating a new version. Another new currency called 'Cin-coin' perhaps.
5. Divisibility - Can be divided into small units
There are more as well, these are the basic
Don't understand how this would work???
6. Cognizability
money should be easy to recognize
???
7. Malleability - money should be Malleable so that it could be made into new money.
I think some people will have something to say about this. Dodgy???
8. Uniformity - It means that All version of the same denomination of currency must have the same purchasing power so that very denomination must be in uniform..
Well at the moment the value is volatile as per article The currency is still volatile, making its prospects in retail sales risky. In April alone, bitcoins have ranged from $50.01 to $266, with an average of $114.94, according to bitcoincharts.com, one site tracking the currency’s value. The market for bitcoins is over $1 billion, according to the site.
So a bit of a non-starter and at level FAD until issues above resolved or enhanced or we change our mode of operation etc...
imho -
