Red Ice News

Dispelling the Mythmakers

UK Royal Mint Working On Plans To Issue Gold-Backed Physical Bitcoins
New to Red Ice? Start Here!

UK Royal Mint Working On Plans To Issue Gold-Backed Physical Bitcoins

Source: blacklistednews.com



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

Bill Still - Hour 1 - Fixing Greece, The Crumbling EU & Monetary Reformation

Walter Block - Hour 1 - Libertarian Philosophy & Anarcho-capitalism

Tracy Twyman - Alconomics, Money & Magic

Comments

Red Ice Radio

3Fourteen

Women on the Verge of Societal Breakdown
Piero San Giorgio - Women on the Verge of Societal Breakdown
The Ascent of Art in the Alt-Right
Emily Youcis - The Ascent of Art in the Alt-Right

TV

Mainstream Media Cover-up #PizzaGate as "Fake News" after Comet Ping Pong Shooting
Mainstream Media Cover-up #PizzaGate as "Fake News" after Comet Ping Pong Shooting
Italy Referendum Live Coverage
Italy Referendum Live Coverage

RSSYoutubeGoogle+iTunesSoundCloudStitcherTuneIn

Design by Henrik Palmgren © Red Ice Privacy Policy