Digital Currency

There is a new form of currency under review called BitCoins that you can 'earn' online and spend online with those prepared to accept it as payment. It is thought this could give rise to serious problems for countries who rule by hard currency:

http://uk.finance.yahoo.com/news/why...211435741.html

How would you feel about using virtual currency? Do you think it would have the suggested impact?

Re: Digital Currency

Karen I still think in terms of £sd and am gradually getting used to metric , not sure I could cope with anything else just yet

Re: Digital Currency

Hmm, not too sure about it Karen.
I'm a bit of a dinosaur, and though I do some banking online - I still like to have my statements on paper, through the post.

Hubby used metric donkeys years ago, (instrumentation engineering) but I still use feet and inches.. when measuring, my response is normally 'in English please'

Re: Digital Currency

I suppose we all do digital currency to some extent. My pensions go into my bank account, most of my regular bills are paid by my bank via standing orders, I spend some of my money through my credit card and that bill is paid by my bank. All these transactions take place with digital money rather than cash. However, I'd be loathe to take the digital money mentioned here.

Re: Digital Currency

I agree with Alan; who actually uses money these days? most of my purchases including at the supermarket are done by either credit or debit card. If that isn't bitmoney I don't know what is.

About the only time I use real money is to buy a newspaper (and they will be gone soon) and for the train (even though the machines do accept credit cards) and even those are changing over to an Opal card soon.

Most new phones have 'near field technology' built into them so even credit cards and Opal cards will soon be a thing of the past - just wave your phone at a terminal.

How the world has changed!

Re: Digital Currency

One of the saddest things about Britain is the way it completely stuffed up metrication.

It started in the UK when I was at school in the early sixties and half a century later still has not completed the job. There are still pints, miles, pounds, Fahrenheit and all the paraphernalia of the old systems in place.

When I came to Australia I too was one of those absolutely opposed to going metric in the 70s and really resented the fact that from day one miles disappeared from the roads, all rulers and measurements had to be in metric only, weather forecasts and temperatures had to be in Celsius. Old measurements were completely gone and never mentioned again (except in police reports relating to people's height).

Now I am so glad they did it that way, much wiser heads than me. People resist change as we have heard in earlier messages (and as I did) but if you enforce the new system people soon get used it.

Britain changed from town to natural gas in one day how come they totally stuffed up going metric?

Re: Digital Currency

A builder I know once said that after all these years of metrication, he still has to ask for 3m of 2x4

Re: Digital Currency

That is the stupidity of doing things by halves what is so hard about asking for 3000 x 50 x 100mm piece of timber?

Re: Digital Currency

Simple answer Bruce matey - its a bit of a mouthful to say - far easier to say 2x4.

Re: Digital Currency

I'd be very wary of this, will they eventually put restrictions on what we can buy... eg; cream buns... smokes...... R18+ video games... etc, big Macs ?