Bank of England "advertising" for NuBits

I enjoy this report a lot.

My belief refreshed.

Btc sucks.

NBT bravo.



Have seen reports like this from other countries too. They are not worried until cryptocurrencies grow, which will inevitably happen in some form or the other. The question is when, not if.


Quite an interesting read. I just bring up the topic in qq group on how many people will be out of job for the blockchain technology within the decade.

Give me an offer, I’ll quit my job. lol

A second problem derives from a pre-determined supply’s
inability to respond to variation in demand. Aggregate
demand for money is volatile, for reasons that may be
seasonal (such as Christmas shopping), cyclical (such as
recessions) or structural (such as from technology
improvements). If the money supply cannot respond to these
variations, volatility in prices will ensue, causing
welfare-destroying volatility in economic activity.
In order to address a need to respond to variation in demand,
a more flexible rule would be required. For example, the
growth rate of the currency supply could be adjusted to
respond to transaction volumes in (close to) real time.
Alternatively, a decentralised voting system could be
developed. Finally, variant schemes could embrace existing
monetary systems by seeking to match official broad money
data or to target a fixed exchange rate, although this would
require the abandonment of part of the schemes’ original

Wow, this is just Nubits, flexible supply and decentralised voting system.


Both digital currencies’ status as money and the distributed
ledger technology used by them have potential to develop
over time. Most digital currencies, at present, deploy fixed
eventual money supplies, although this is not strictly an
essential feature. Usage of digital currencies is presently very
low and, as currently designed, there are a variety of incentive
problems that are likely to prevent their widespread adoption
in the long run.

They also draw the conclusion that bitcoin style has no future for its fixed supply and costly mining.

Bitcoin—>fixed supply—> deflation/volatility---->death

Bitcoin---->PoW----> costly operation—>death

but I’ll salute bitcoin for its leading and absorbing fire power in this battle, when bitcoin fall down, let’s give it a grand funeral. :smile:,2817,2394359,00.asp

ehh, how to insert a youtube video?

1 Like

Just paste the link, the editor should convert it.

Someone should email the author about peercoin and nubits…

I agree that bitcoin as a currency is not sustainable, nor useful but I think it will continue to grow as the e-gold…The same applies to litecoin as the e-silver.

1 Like

Agree trusted blockchains will be valuable, my only concern is whether they can keep the trust with the increasing centralisation of mining in the long term and compete on cost with PoS coins as @Sabreiib already mentioned.

What about non-hash-cash blockchain like primecoin: namely energy multiuse ?

primecoin, should be another good asset.