Experts were unable to make a “convincing case” for why the UK needs digital currency.
Maybe there are some people in our government who know what they’re doing after all
I wouldn’t like this regardless. That would probably cause more problems than it solves too.
What a huge surprise They seem to have come to the same obvious conclusion as most people that structural instability in financial markets isn’t a good thing to trade off for possible slight convenience.
Would a CBDC even be considered cryptocurrency?
Presumably it would be centralised and not even pseudo-anonymous.
This isn’t a rhetorical question - I haven’t properly wrapped my head around CBDCs yet so interested in hearing views.
In my opinion it would effectively be a centralised stablecoin. It would act just the same except you could potentially pay fractions of a pence rather than within the 100p.
It would hardly cause instability as it would be controlled by the Bank of England and they would have as much control as the Royal Mint has control of the current UK coin supply, if not more.
If it was floated separately to Pound Sterling, that could be interesting but I would highly doubt it. One of the points a Central Bank would want to introduce it would be control.
Curious to know what everyone’s biggest holdings are? Mine are:
- CRO
- ONE
- VET
Looking to add Solana to the portfolio too, depending on the price action.
At this point:
- ETH2
- BTC
- ALGO
- ADA
Currently earning a little interest on ETH2 and ALGO, which is nice.
Nice, I used to hold Cardano initally bought in the 25-30p range and sold at £1.50, it’s another one on my list that I’ll buy if it drops and then I’ll Stake it on Kraken.
Having some good price movement today
My biggest holdings
AMP
ADA
XRP
VET
Shib
HOT
Announcement is about plans to strengthen rules on crypto ads, but what I found most interesting were the pretty positive comments from Rishi Sunak about crypto space in general:
Cryptoassets can provide exciting new opportunities, offering people new ways to transact and invest – but it’s important that consumers are not being sold products with misleading claims … We are ensuring consumers are protected, while also supporting innovation of the cryptoasset market.
So is now a good time to get started in bitcoin and ethereum, or do you guys think crash will continue? Thinking of putting in £200, probably in Revolut, just as i have an account already.
No one knows
Very good answer as with any investments lol
Finally
That article made me laugh. A lot. Made my week. Stomach still hurting. OMG.
Absolutely hilarious. Now, back to everyday life (but thanks Gizmodo for a brief respite from the five-h-one-tee that we’re all currently experiencing from world events)
What was funny about it? Sorry I must be missing something!
On a scale of accessibility, even if the quoted ‘84’ UK crypto ATM’s actually exist, what can you do with them? Stand in front of them for 15 mins while you type in your seed to verify who you are on the blockchain to buy, sell, and exchange crypto? (really - an ATM acts as a full crypto exchange service? What fees are involved with that b0110x then?)
Even worse, hand over your blockchain access data to the machine… Oh, come on.
What exchange are they connected to? How can they verify your account? How do they know what crypto assets you actually own? Maybe a Ziglu card will work with such ATM’s?
Still laughing. The whole story smells of a ‘service’ (scam) to get people to reveal their seeds at specific ‘ATM’s’ and should be treated as a general security issue rather than a FCA-no-likey story.
Found a crypto ATM? Move on, don’t engage. It’s 2022 people, no need for physical theft. Just ensure your crypto is protected properly and remains in the digital domain.
There are two CEX locations near me, a larger one in the city and a smaller one in the next suburb along on the high street.
The larger one has one (although seemed to be non-operational last time I visited, not that I have any wish to use one), the smaller branch does not.