A forum at Hull City Council in the UK this month saw the launch of the very first UK local government operated cryptocurrency, dubbed HullCoin.

The reason for this unprecedented technological act of local government is to tackle poverty, the council says, making it arguably the most worthy use of a cryptocurrency yet.
Read more at www.coindesk.com/hullcoin-worlds-first-l...ment-cryptocurrency/

Tackling poverty? Not buying it for one minute

What is the general consensus here on SZ about crypto currency?

scrappydoo wrote: I seem to remember a few similar initiatives set up by local chamber of commerce members and backed by councils looking to boost the local trades and businesses,within the last few years.I think its agood idea.If you look at how the German economy works and suceeds,all their strength comes from small,local initiatives and local bank schemes designed to help the communities.

scrappydoo wrote:
It had potential to be an alternative currency that could have an impact on centrally-controlled coin, but of course it wasn't just your average Joe who spotted this and as such those who would be threatened by currency they don't own are now seeking to own and control it. It was expected.

Cunts they are.

Jiggly Bitz. wrote:
A genuine attempt would use something along the lines of the X11 algorythm as opposed to a basic scrypt clone (Litecoin clone)
The equipment they bought is about to be made insignificant for scrypt mining due to the incoming tidalwave of asics scrypt miners.
They also don't have the ability to protect it from the crypto community.
I suspect it just to be another scam coin personally.

I think most of the cryptocurrencies will fail. I would really like to see Bitcoin succeed but I don't think it will in the end.
The only crypto that would work would be the one pushed by tptb. An "NWO coin" if you will.
I think that the crypto currency ripple (XRP) is more along the lines of what tptb are looking for, and its rumoured to have google and microsoft dabbling behing the scenes with its developers.

scrappydoo wrote: Whenever a puddle of shit starts to stink the internet out,Google and Microsoft are invariably to be seen at the business end of the spray nozzle directing its pungent,unwelcome flow.

Do SZ accept donations in crypto currency?

scrappydoo wrote:
If it's towards the server costs then 'no' as the hosts don't accept them If it's for the facilitators to spend on silk road then 'yes'

oioioi wrote:
You don't need silk road Oioioi
Why don't you set up a litecoin and dogecoin wallet for donations? You might be surprised at how generous people can be.

oioioi wrote: Whats the most robust un-official currency right now out there in the land of the kebap swallowers,Oi Oi ?