Satori Coin: New physical bitcoin introduced in Japan
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Today James talks to Yoshi Kan of Raimu Inc. about Satori Coin, a new physical bitcoin that is being introduced in Japan. They discuss the need for physical bitcoin and show how a Satori Coin works. For more details see satoricoin.jp.
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I’m assuming the small denomination is for buying those cheaper things like a loaf of bread or a pound of butter when the state issued currencies are no longer useable due to hyperinflation? I understand this “fizzbit” as an emergency coin for the very basic of needs in times of financial collapse, in other words. And, of course, for local commerce (Japan Satori), only. A great idea. The more alternatives the better.
This is for those who are inclined to believe in a future for the internet. I don’t feel that confident in future internet access (rural Canada, vulnerable electricity grid) so I have chosen food as my current and future trade item. (Garlic, especially, as a small item that is “worth a lot”). Always,we need to review our options and be open and adaptable in these rapidly changing conditions.
Simplify needs, easy happy happy.
Do you remember the creator of a gold coin called the Liberty Dollar, Bernard von NotHaus, being imprisoned for doing so? http://www.nytimes.com/2012/10/25/us/liberty-dollar-creator-awaits-his-fate-behind-bars.html?_r=0
Interesting…on a related note, some more info on how central banks are trying to get control of the bitcoin game: http://www.telegraph.co.uk/business/2016/03/13/central-banks-beat-bitcoin-at-own-game-with-rival-supercurrency/
Excellent idea that could bring more liquidity to altcoins. I think the brilliance is having it in such a small denomination. If it is to succeed and not attract unwelcome attention from the powers that shouldn’t be, it will need to grow slowly too.