New cryptocurrency offer aims to 'revolutionise' charity sector - OHC founder

"
A new blockchain startup plans to launch a cryptocurrency platform targeting the charity sector.

Giftcoin is founded by charity and technology veterans Alex Howard and Tim Bichara, who created the Optimum Health Clinic and Q App respectively.

The pair believe they have come up with a concept that has the potential to revolutionise the charity sector through the implementation of blockchain technology to transform the way donations are tracked and received. "

http://citywire.co.uk/wealth-manage...aims-to-revolutionise-charity-sector/a1082097

 

Cryptocurrency is a fad, but is it one with staying power?
Fiat currency works because people accept it as a store and medium of exchange (with government sanction), cryptocurrency is a speculative investment at present because if confidence in it fails it becomes worthless, its backed up by nothing. Not unlike fiat currency in a sense but it has no government propping it up or controlling it and as a fad it could lose confidence and implode into nothingness. Only time will tell because its fate is determined by public acceptance, not laws. In a way it has similarities to religion.

 

I don't see how multiple cryptocurrencies can survive, so the addition of new ones is at best worrying when they are targeted in this fashion.

I have no philosophical objection to them, in fact I see cryptocurrency as a natural evolution.

If I'd invested in bitcoin last year (when 1BC was about £500) as I very nearly did then I'd be in a different situation now, if I'd started mining when I first became aware of it I'd be a multimillionaire.

Anything that I can become rich in, for little more effort than building and running a few miners, is inherently unstable and not to be counted on IMO

ETA - starting up multiple cryptocurrencies, to take advantage of the initial easy gains strikes me as similar to MLM (possibly not the right thing), startup, make as many easy units as possible, wait for a unit value to climb as it catches on, cash out, leaving others holding worthless units, start again - I'm not saying that's what's happening here, it just strikes me that someone will try it.

 

"Giftcoin, which is targeting the high net worth market, is running a token sale (also known as initial coin offering) from 1 February, selling a limited amount of tokens to fund growth at a minimum investment of £10,000."

 

I recommend not investing in this. There is an overabundance of cryptocurrencies and most of them have no reason to exist. They just exist to take advantage of the hype and enthusiasm. Initial coin offerings seem to be mostly a get rich quick scheme for the persons running them. Unless this cryptocurrency has a concrete advantage over others, the most likely outcome of an investment is rapid loss of value.

The article claims this cryptocurrency would bring transparency to how charities use donations, but doesn't describe in detail how this is accomplished. It sounds like this is a project that pretends it has something special to offer when it doesn't.

 

Seems like exactly the sort of thing the OHC would be involved in.

 

Too late, now that my daughter's boyfriend has bailed out making 30 grand on one of these coins it must be busted. I am pretty sure we are just about to have another collapse of all these things like 2008. The more I see of this the more I stick to writing cheques on old fashioned paper.

 

I'm putting all of my money into tulips.

https://www.youtube.com/watch?v=aeMv9uKpAZg

 

why I posted it
see also: https://www.s4me.info/posts/38139/
https://www.s4me.info/posts/37898/
https://www.s4me.info/posts/38143/

eta: to coin a phrase, Alex Howard appears to be getting all his ducks in a row.

 

Let’s create a Phoenix coin
Oops I mean a s4me coin

 

Bitcoin is not doing so well at the moment...
http://www.bbc.com/news/technology-42958325

 

Imagine, if $400 million went to ME/CFS research instead of being stolen

 

I prefer to look at the blockchain technology, not on cryptocurrencies. There are so many them today (about 1800) so it seems like every IT specialist can create his own cryptocurrency. But despite that, I found useful EmerDNS Blockchain Services for me. Right now I'm thinking about how to implement it in one of mine products.