{"id":12898,"date":"2013-11-30T01:39:08","date_gmt":"2013-11-30T00:39:08","guid":{"rendered":"http:\/\/www.w-t-w.org\/en\/?p=12898"},"modified":"2013-11-30T01:40:26","modified_gmt":"2013-11-30T00:40:26","slug":"british-channel-island-in-bid-to-manufacture-bitcoins","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/british-channel-island-in-bid-to-manufacture-bitcoins\/","title":{"rendered":"British Channel Island in Bid to Manufacture Bitcoins"},"content":{"rendered":"

News around this move by the finance minister of the tiny British crown dependency has a curious mix of definitions of the bitcoin, which soared to over $1200 today.<\/p>\n

An independent company will provide the Bitcoins. If the price plunged, neither Alderney nor the Royal Mint would lose anything. The company would put the Bitcoins in an escrow account at an agreed price. Meanwhile, the Royal Mint would take customers\u2019 orders for its minted Bitcoins and receive money from those coin sales. The virtual Bitcoins backing the physical coins would be held in digital storage facilities by Alderney.<\/p>\n

The Mint would issue the commemorative Bitcoin, paying for the value of the gold content itself. Alderney would receive royalties from sales of the coins.<\/p>\n

Coins could be redeemed for sterling at any point in Alderney for the price of a Bitcoin on that day.<\/p>\n

It seems to be currency (it is backed by sterling), it is called a ‘commemorative coin’ by the mint, and if worse came to worse, could be melted down for the small amount of gold the coin itself contains. \u00a0So it is currency, commemorative and gold rolled into one…what? \u00a0\u00a0\u00a0Alderney to Manufacture Bitcoins<\/strong><\/a>\u00a0 \u00a0 The Financial Times Reports:<\/p>\n

\"ALDERNY,<\/a>

ALDERNY, LITTLE MORE THAN A ROCK<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

News around this move by the finance minister of the tiny British crown dependency has a curious mix of definitions of the bitcoin, which soared to over $1200 today. An independent company will provide the Bitcoins. If the price plunged, … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[22,23,13],"tags":[],"class_list":["post-12898","post","type-post","status-publish","format-standard","hentry","category-corruption","category-entrepreneurs","category-finance"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t