Archive for category: News

How the EU could get out of its present pickle – and negative interest

How the EU could get out of its present pickle – and negative interest

If you have been following what is going on over the Channel, you will know that Macron and Merkel have underwritten some more money for the whole of the EU. As ever, they don’t differentiate between the wealthy northern nations and the bankrupt southern ones, and as a result as of now the one size fits all remains in place.

Bear in mind the German Constitutional Court has already blown a massive hole below the waterline of the ECB, which may yet mean that ALL that the ECB has done in the last 10 years is ultra vires. That would spell the end not only of the EU but would also the bankruptcy of the ECB, Italy, Spain, Greece, Portugal etc etc. It could not be stitched back together.

The one thing that is clear from the present pandemic is that the good old US Dollar remains the world’s reserve currency. That means that the Americans – as they have always done for more than the last 100 years – have stepped up to the plate when money was needed anywhere in the world. Their present trillions of extra dollars is already keeping some countries going and they have made clear they will create trillions more if needed.

The problem in the EU is acute however. To take one example, Italy simply cannot afford to take on board any more debt, and the ECB has finally reached the point where the purchase of any more Italian issued EU notes is effectively at an end.

What Italy needs is to get out of the Euro – leaving massive losses for all concerned but especially the Germans – and return to the Lira or something like it. If Italy could issue Lira bonds which were funded ( at a lower rate than the notional Lira/Euro rate of exchange back in the day) they could be free in one bound. Sadly, of course, the EU won’t allow them to do this.

But here’s the thing. Suppose they created the Liracoin , a digital currency which worked alongside the Euro. I can practically guarantee people in Italy would stop using Euros on a day to day basis and use Liracoin. You would suddenly have the same sort of situation as pertains in China, where there is an official currency for international transactions, very tightly controlled, and effectively a lesser currency which remains in China. The Euro would be the international currency for Italy but the Liracoin would be the internal currency. And this could be repeated across all countries in the Eurozone.

Interestingly, when Scotcoin was originally created, its creator had something very similar in mind, had the Referendum been won. And there is a distinct move to country digital coin as opposed to the international likes of Bitcoin, Ethereum and so on.

So maybe, just maybe, digital currency is coming of age.

STOP PRESS: The UK Debt Management Office has just sold debt that will COST the buyers to hold. In other words, lend £100, receive no interest and in two years time you will get back LESS than £99.50. Remember, digital currency doesn’t pay interest, BUT IT ALSO DOESN’T COST YOU TO HOLD IT.

We are very excited at Scotcoin because our very first Radio Advertisement went out today

We are very excited at Scotcoin because our very first Radio Advertisement is now running!

It’s on Pulse98.4 FM and you can find out all about the station here:

https://pulseonair.co.uk/

They are a really great bunch of people who just love Scotcoin. You can listen on radio or online and they play great music, and have really interesting talk shows too. Every event in the local area is promoted through them.

If you have anything you would like to know or do in collaboration with them, please get in touch with us!

We are also sponsoring Christina Littleson’s Arts show, Mondays from 1 -3pm

Hat tip to Gus Michael for all his help and Frank MacGowan of Bad Pony Media for the original introduction!

Listen live here: https://tunein.com/radio/Pulse-984-s124511

Where is this?

Scotcoin - Where is this

You can see it from a well-travelled road, the first person to tell us where it is or send us a picture of themselves with the banner gets 5,000 SCOT transferred into their wallet!

Entries via [email protected]

Please include:

  • Your full name
  • Your wallet address
  • Where the banner is

END DATE: When we get a correct entry or by 31st May. If the prize isn’t claimed we will donate to a charity.

Vintage Firsts

Because of the issues with social distancing, we have had to put the vintage firsts project on hold.

So as a taster see below a few of the stories that people shared. There’s a prize of 25,000 Scotcoin for the best new one we receive before the end of May 2020. Best of luck!

From an Elderly man

I remember going to Jenners in Edinburgh to get my very first long trousers. In those days, boys wore shorts pretty much until they were 12. I remember my mother getting dressed up to take me on the tram. (small laugh/grin) Of course, since then they destroyed all the trams and had to build it all again, end even Jenners is now shutting. I remember the trousers were brown corduroy, and I thought I was absolutely the smartest thing ever. It’s probably why I still wear cords, as they are now known. It was an easy process. I remember I was a little nervous beforehand but the whole experience was simple and easy.

In fact it was very like my experience with Scotcoin. I was a little nervous about downloading a wallet and all the necessities of keeping the pass phrase secure. But once I had done it, I realised that simply following the steps I had been sent by the people at Scotcoin was easy, simple and straightforward. And then, after I sent the wallet address to them, the SCOT appeared in my wallet almost like magic a short while later.

Digital currencies are a great thing for all sorts of reasons – you should join the revolution.

From a middle aged man

I remember my first kiss. I’d fancied Francine for ages and we had begun walking home together. I was just a stupid boy but in my eyes she could do no wrong. She had the obligatory female friend who went everywhere with us and was soooo jealous of me. I spent hours thinking up how I could kiss her, but I first had to get rid of Sarah, her friend. Then one day, Sarah didn’t turn up at school. I asked Francine where she was and was told she’d been kept at home that day. This was it! I was excited but apprehensive and nervous. What if she didn’t like me enough? What if I messed up? After all, I’d never done this before.

We set off after school and my nervousness made me talk too much and too loudly. I remember I was waving my hands about. Francine kept looking at me strangely which only made me more nervous. Just before we turned the corner into her street, she put her hand on my arm and stopped me. Without a word, she swung towards me and kissed me, hard, on my mouth. I was so astonished I just stood there. She pulled back and smiled at me gently, then kissed me again and turned away round the corner. I still just stood there, until she popped her head back round the corner and grinned. “ See you tomorrow.” I walked home on air.

It wasn’t as bad opening a crypto wallet. I read all the instructions and was actually prepared when I did it. The wallet appeared immediately when I clicked on the “Create new wallet” icon. I wrote down the pass phrase as instructed, then clicked into the wallet itself. And there was its address. I just copied and pasted it into a folder, then emailed the wallet address to Scotcoin. A short time later I could see my SCOT in the wallet.

I was nearly as elated as I was after that first kiss with Francine.

Over 40 year old lady

I remember going to my first T in the Park, in Strathclyde Park, just outside Glasgow. It was 1994. My mum drove me and my friend Emma up in the afternoon, and gave us strict instructions we were to leave at midnight and she would pick us up at the spot where she had dropped us off. I think she had no idea what it was all about. We were both just 17 and ready for life! We were excited and elated but a bit nervous too. We’d never done anything like this before and the idea of Festivals was only just getting off the ground.

It was fantastic. The atmosphere was electric (a very overused word nowadays) but we were completely buzzing by the time we left.

Mum had been waiting for us for well over an hour and gave us a hell of row, but it was all worth it.

A bit like setting up my first crypto wallet. I was nervous but I worked through the instructions and wow! There it was. Once those nice people at Scotcoin sent me my SCOT, I could see them in my wallet. I love being a part of the blockchain revolution.

Marketing and Finance Podcast

Featuring on Marketing and Finance’s podcast today with Roger Edwards:

What you’ll hear about in this podcast episode:

  • A simple guide to crypto-currency
  • The relationship between blockchain and bitcoin
  • How Scotcoin, the crypto-currency with a Scottish ethos, came about
  • Where to buy Scotcoin and use a Scotcoin wallet
  • Which businesses accept the Scottish crypto-currency

More podcasts from Roger: https://rogeredwards.co.uk/maf/maf-podcast-archive/

Star Trek, Cowboys and Blockchain: Ferengi Rules!

For reasons somewhat beyond me, a friend recently hailed me as “Hello Ferengi!”

You may have forgotten but the Ferengi of Star Trek  fame, apart from having misshapen heads, were, shall we say, a little tricky as far as business goes. They had a whole host of rules, promulgated throughout the entire innumerable episodes and films, some of which make you cringe.

Personally, I particularly like “You can’t free a fish from water” and  “No good deed goes unpunished.”

In amongst these Rules are such gems as “ Never be afraid to mislabel a product”, “Free advice is seldom cheap,” and  “The bigger the smile the sharper the knife.” A little study of the Rules would repay you in many ways – not least recognising people you know, and bringing into focus what you really think of them. I’ve always said everyone knows stuff – but sometimes it needs codified.

Some years ago, when business books were all the rage, I bought:

Star Trek, Cowboys and Blockchain

Star Trek: Make It So: Leadership Lessons from Star Trek: The Next Generation

Now you may think how sad is that, but as in cowboy films, a set of principles are required to win through. The code of the West was derived from common sense and the Bible, and I’m grateful to cowboyethics.org  (who knew??) for the following:

  1. Live each day with courage.
  2. Take pride in your work.
  3. Always finish what you start.
  4. Do what has to be done.
  5. Be tough, but fair.
  6. When you make a promise, keep it.
  7. Ride for the brand.
  8. Talk less and say more.
  9. Remember that some things aren’t for sale.
  10. Know where to draw the line.

There is also, of course:

  • When approaching someone from behind, give a loud greeting before you get within shooting range.
  • Never try on another man’s hat.
  • And most important of all, Ya never hit a lady

That last has led to more cowpokes being gunned down than any other. Giving recalcitrant ladies a spanking seems to have been OK though. John Wayne managed it several times and lived to tell the tale. Not to mention getting the gal.

Star Trek, Cowboys and Blockchain

Where am I going with all this? In both outer space and in the Wild West, people had to rely on themselves and no one else. This is particularly true at the moment. So what does Blockchain have to do with that?

The whole point is that the blockchain is demonstrably correct, fair, immutable – and everyone can rely on it absolutely.

I have a feeling the Ferengi would not have liked blockchains. Their rules also state “When there isn’t a rule, make one up” and “A Contract is a contract is a contract – but only between Ferengi”.

NOW YOU REALLY NEED SOME CRYPTO

The Fed has been told to “just keep printing money” according to an interview with CBS’s 60 Minute. President of the Federal Reserve Bank of Minneapolis Neel Kashkari referred to there being “an infinite amount of cash at the Federal Reserve.”

He went on to say “That’s literally what Congress has told us to do. That’s the authority that they’ve given us: to print money and provide liquidity into the financial system.”

Remember that this very thing is why Bitcoin was created in the first place

If you have been following our blog you will know that the present literal swamping of the world with newly printed money will lead to the most horrific inflation, with too few goods being chased by too much money. The present panic buying in the UK is merely a harbinger of what is to come. Presciently, I said a short while ago that we would soon lose the rule of law and substitute the law of the machine gun.

Now is the time to hold crypto. Your fiat money – GBP, USD, Euro etc etc will soon be worthless as the Mark was in 1922/3 Weimar Germany.

There, the  cost-of-living index was 41 in June 1922 and 685 in December, a nearly 17-fold increase – and it continued to rise.

It was only solved in November 1923 when a new currency was established WITH EVERYONE ONLY RECEIVING 5 RENTENMARK.

So be prepared for the future – buy some crypto!

To help with this, any SCOT bought through https://exchange.scotcoinproject.com/

Will receive double the number of SCOT actually bought.