We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Debate House Prices


In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

This should change the whole game soon

124»

Comments

  • padington
    padington Posts: 3,121 Forumite
    edited 18 March 2016 at 11:31AM
    Generali wrote: »
    Where does it say that please?

    Read the bold text

    http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdf

    What exactly does 'thin air' mean is an unnecessary deviation from the discussion.
    Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.
  • padington
    padington Posts: 3,121 Forumite
    edited 18 March 2016 at 11:26AM
    mwpt wrote: »
    That isn't an answer to my question. Why are they looking at a distributed ledger technology to achieve centralised control?

    That article is also has several inaccuracies. "could speed up trading systems". No. blockchain is slow, precisely because of the cryptographic nature. Mature trading systems these days operate in the microseconds (lmax for e.g. under 5 microseconds per transaction) whereas blockchain transactions will take orders of magnitude longer.

    I don't think you can get a safer and more transparent system that is any faster. You're not thinking like for like.

    In the same breath I don't think that you can get the safety or transparency without an element of distribution, so they wish to keep that element probably whilst still retaining the keys to the code itself.

    Another thought is they might be toying with thoughts of a global currency which may require a shared element between central banks.
    Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.
  • AG47
    AG47 Posts: 1,618 Forumite
    padington wrote: »
    Read the bold text

    http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdf

    What exactly does 'thin air' mean is an unnecessary deviation from the discussion.

    Thin air means thin air.

    It's not sound money if some can create more units out of thin air
    Nothing has been fixed since 2008, it was just pushed into the future
  • padington
    padington Posts: 3,121 Forumite
    edited 24 March 2016 at 12:24AM
    AG47 wrote: »
    Thin air means thin air.

    It's not sound money if some can create more units out of thin air

    It's very sound. Why have a currency you can't make more of when you need to ?
    Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.5K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.1K Work, Benefits & Business
  • 600.7K Mortgages, Homes & Bills
  • 177.4K Life & Family
  • 258.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture