The truth about the UK/US national debt.....

Loughton_Monkey

downshifter98 wrote: »

Well, exactly - once enough people start to believe in something (base metal, God, Jesus....) it will work no matter if it has true intrinsic value or not (although I think I still would prefer a currency with a country behind it). If a made up currency like bitcoin can exist then why shouldn't the US keep printing with relative impunity (hell, China can't get enough of the stuff).

Your mention of God got me thinking of people like David Beckham who is considered by many [not me I hasten to add] to be a God.

It strikes me that he could "invent" a new currency - perhaps called "The Beck", which would consist of a piece of paper of a certain design, in a multitude of denominations (including a 9 Beck Note), issued with his signature (plus Posh as an extra security measure). You are saying that this could work if enough people believed in it?

Surely the boy could get rich.....

downshifter98

Do you mean a bit like this (excuse the pun)

http://www.theguardian.com/music/2014/jan/03/kanye-coinye-west-bitcoin-coinye-cryptocurrency

dryhat

Talking of musicians and Bitcoin ...

http://mashable.com/2014/01/07/lily-allen-bitcoin/?utm_cid=mash-com-fb-main-link

mayonnaise

downshifter98 wrote: »

Do you mean a bit like this (excuse the pun)

http://www.theguardian.com/music/2014/jan/03/kanye-coinye-west-bitcoin-coinye-cryptocurrency

Coinye West...the future of currency.
I'll be investing heavily because I don't want to miss the boat like I did with Bitcoin.

dryhat

mayonnaise wrote: »

Coinye West...the future of currency.
I'll be investing heavily because I don't want to miss the boat like I did with Bitcoin.

I wouldn't bother mate. It's just a gimmick.

If you feel you have missed the Bitcoin boat (which you haven't), then there are other cryptocurrencies which have better potential.

Look for ones which borrow from the Bitcoin protocol but do things slightly differently or with added advantages.

Bantex_2

What about the £50 billion a year the UK is paying in interest on this debt?

CLAPTON

Bantex wrote: »

What about the £50 billion a year the UK is paying in interest on this debt?

just borrow the money

Linton

Bantex wrote: »

What about the £50 billion a year the UK is paying in interest on this debt?

Its not necessarily "the UK". Only 30% of gilts are overseas owned. The largest part of the remaining 70% is owned by UK financial institutions like pension companies to pay for annuities etc.

Loughton_Monkey

mayonnaise wrote: »

Coinye West...the future of currency.
I'll be investing heavily because I don't want to miss the boat like I did with Bitcoin.

Mugs game!

If you don't want to miss the boat, you can double up with me on my new venture. There's something called "Linden Dollars". You buy these on a website called "Second Life" where you set up your identity, and start 'living' your virtual life - with 'real' girlfriends etc. I think the constituency are rather sad people. [I suspect people from Devon tend to use it to brighten up their rural isolated lives].......

.... but here's the plan. We get on there and pretend we are 'normal' people, but we set up a PPI sales operation and earn billions of Lindon Dollars selling it. We cash it all in, and depart from virtual life before the inevitable mis-selling scandal hits the Second Life Streets.

... large gin & tonics all round.... :rotfl:

dryhat

http://arstechnica.com/business/2014/01/kanye-wests-lawyer-orders-coinye-to-cease-and-desist-just-before-launch/