Move over bitcoin, cash is still king

Move over #bitcoin, cash is still king

  • And it’s not only Americans who favor paper money — a separate study by PayPal – – cash is still king in most of Asia’s major markets – – Cardtronics said people might also favor paper for security reasons — and they may be right.The company said 84 percent of…
  • Harley J. Spiller, author of “Keep the Change: A Collector’s Tales of Lucky Pennies, Counterfeit C-Notes, and Other Curious Currency,” likes paper money for another reason: It’s simple.
  • And it’s not only Americans who favor paper money — a separate study by PayPal – – cash is still king in most of Asia’s major markets – – Cardtronics said people might also favor paper for security reasons — and they may be right.
  • Hackers have recently stolen millions of dollars worth of digital currencies – – security concerns, people may be right to seek comfort in paper money.
  • Harley J. Spiller, author of “Keep the Change: A Collector’s Tales of Lucky Pennies, Counterfeit C-Notes, and Other Curious Currency,” likes paper money for another reason: It’s simple.

Millennials might be bucking conventional wisdom, but paying with cash isn’t one of them.
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Idaho teenager becomes millionaire by investing $1,000 gift in Bitcoin

  • Mr Finman has been celebrated on news channels, and lauded in the tech community.
  • For his story is little short of remarkable.
  • Mr Finman, whose parents Paul and Lorna met at Stanford University in the 1980s, when Paul was getting his PhD in electrical engineering and Lorna was getting hers in physics, took the cash and invested it in Bitcoin, following a tip from his brother Scott.
  • The Finman siblings, three brothers, admit to being fiendishly competitive.
  • Erik describes his family as being the “Elon Musk version of the Kardashians” – both his older brothers work in tech and engineering, and the youngest Finman was frustrated by school.

Three years ago Erik Finman made a bet with his parents.
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Inside the Bank of England’s vaults: can cash survive?

  • The first batch of notes has already been printed and is ready to head out to banks and shops Credit: Bank of England
  • Andy Haldane believes cash will be around for as long as there is demand for it Credit: Bank of England
  • Caged sterling bank notes of all denominations in the vaults at the Bank of England Credit: Heathcliff O’Malley
  • A member of staff walks between cages full of new £50 notes inside a vault at the Bank of England Credit: Heathcliff O’Malley
  • A member of the public examines the new £5 note at Blenheim Palace in June Credit: Bank of England

It’
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Starbucks Cards Hold So Much Money The Company Could Be A Mid-Sized Bank

  • Starbucks Cards Hold So Much Money The Company Could Be A Midsize Bank
  • $1.2 billion of customer money sits limply on those ubiquitous cards.
  • Starbucks cards, in other words, are big business.
  • An astounding number of customers eschew dollars for money on card and the app.
  • In the first quarter of 2016, Starbucks was keeping about $1.2 billion for its customers between money pre-loaded onto cards and the company’s app, the coffee giant told The Wall Street Journal .

Read the full article, click here.


@andyorin: “Are Starbucks cards the new bitcoin?”


$1.2 billion of customer money sits limply on those ubiquitous cards.


Starbucks Cards Hold So Much Money The Company Could Be A Mid-Sized Bank

China: Power plant burns banknotes instead of coal

China: Power plant burns banknotes instead of coal - BBC News #Bitcoin

  • A company in one Chinese city has money to burn, and is using it to make electricity, it’s reported.
  • media reports from around the world, found by BBC Monitoring
  • The plant says one tonne of notes can generate more than 600 kWh of electricity, and is better for the environment than burning coal.
  • The country’s central bank, the People’s Bank of China, has given permission for the notes to be burned, and says it’s an efficient way to make electricity.
  • The BBC is not responsible for the content of external sites.

Read the full article, click here.


@bitcoinagile: “China: Power plant burns banknotes instead of coal – BBC News #Bitcoin”


A power plant in central China is the country’s first to use old banknotes to make electricity.


China: Power plant burns banknotes instead of coal