The most secure coin in the world

[davids355]

I saw this poster at the bank today and it just made me laugh.

The UK pound coin dubbed "the most secure coin in the world".

Seems really strange to make "security" the key selling point for a physical coin.

To me it sums up the importance of crypto currencies and how old fashioned our current monetary system is (at least in the uk anyway).

Anywhere were you have old fashioned and clunky systems that can't be centrallymsnaged there is room for digital disruption and I think that's exactly what crypto is - the digital age disrupting the banking system.

 

[tb303]

The Pound coin basically soft forked to add new security features. For me as an end user that meant I couldn't pay to park last month and got a ticket. But apparently it will stop the 'miners' from losing money so that's fine I suppose.

In crypto it might have been a hard fork 'cause no one could agree and we would all have got free money.

Both systems are mental but I know which one is the most fun right now.

 

[William702]

That looks like the love child of an old 50p, 2 pond coin and 20p WTF is going on. who needs metal and paper, at the very least they could move to cards let alone crypto.

 

[Wilson Grant Fisk]

Don't get me started ... and what about the new notes? If I wanted to use plastic money, I would have moved to Aus years ago.

 

[gheboaiamaster]

i would say btc is a secured system

 

[silverleafy]

it looks amazing but not sure what is so secure to it

 

[rafark]

You won't get anything safer than that.

 

[rafark]

My post above was about virtual vs physical coins.

 

[rafark]

I saw this poster at the bank today and it just made me laugh.

The UK pound coin dubbed "the most secure coin in the world".

Seems really strange to make "security" the key selling point for a physical coin.

To me it sums up the importance of crypto currencies and how old fashioned our current monetary system is (at least in the uk anyway).

Anywhere were you have old fashioned and clunky systems that can't be centrallymsnaged there is room for digital disruption and I think that's exactly what crypto is - the digital age disrupting the banking system.

What else but security would be the selling point for new bank notes and coins?

The current system is not old fashion and those online currencies cannot and will not replace physical representations of money. You know all virtual, be it credit cards or online currencies need a 1:1 physical representation to back its existence.

We live in a physical world with physical needs, digital representations of wealth have the end purpose of fulfilling tho hose physical needs.

You can controll the productin of 100 bank notes but you can't of 100 "dumbCoins".

 

[ThopHayt]

In a world where other nations are discussing the elimination of coins all together the UK decides to up the ante and release a more-expensive-to-produce coin for no reason.

Smart.

-ThopHayt

 

[MisterF]

In a world where other nations are discussing the elimination of coins all together the UK decides to up the ante and release a more-expensive-to-produce coin for no reason.

Smart.

-ThopHayt

I'd love to know the cost per coin to produce these.
Also what is the cost to update all the vending machines, parking meters, even the shopping trolleys etc to change to the new shape.

 

[oriento]

Is this coin good to buy now?

 

[ThopHayt]

I'd love to know the cost per coin to produce these.
Also what is the cost to update all the vending machines, parking meters, even the shopping trolleys etc to change to the new shape.

Exactly, it is rediculious. No machines will take it, and it will probably cost far more to produce than paper. They should have used this effort and funding to create a UK-backed cryptocurrency. Now THAT would have been a revolutionary idea.

-ThopHayt

 

[Clutch Jones]

Government....looking for a solution to a non-existent problem....like, well, always.

 

[islandman1010]

Exactly, it is rediculious. No machines will take it, and it will probably cost far more to produce than paper. They should have used this effort and funding to create a UK-backed cryptocurrency. Now THAT would have been a revolutionary idea.

-ThopHayt

Every machine I have used here takes them already. The UK Government won't look at creating a crypto currency, they are looking at ways right now to regulate them and apply normal money transfer rules etc to them. Governments dont want money moving around in a system they dont control.