SolarCoin is Coming

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Back in 2011, Nick Gogerty and Joseph Zitoli of the Thoughtful Capital Group wrote a*proposal*to ...

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  • Cariboocoot
    Cariboocoot Banned Posts: 17,615 ✭✭✭
    Re: SolarCoin is Coming

    Somewhat serendipitous that I've just been reading Terry Pratchett's "Making Money" and this pops up.

    Of course gold has been considered to be of value for centuries when in fact it had none (too soft for tools or weapons or any practical use) and it is only now in the age of science that it has any real applications. Ironically here one of those applications is in non-corroding electrical contacts.

    As for basing currency on electricity ... and intangible object is not a sound foundation for finance. The "Internet currency" called BitCoin has already been the subject of fairly large frauds because it is not based on anything tangible, including any government guarantee of value (as vaporous as that may be).

    One envisions becoming rich by simply 'generating' more money at home. They call this "forgery". ;)