Bitcoin, the world’s most famous cryptocurrency. (photo credit:BENOIT TESSIER /REUTERS)
Coming soon to your community may be the first ever international Jewish currency, dreamed up by a Russian entrepreneur.
MD: Now what in the world would a “Jewish currency” be? Does it only allow trade between Jews? Can you imagine a currency that prohibited trade with Jews? They would go shrill beyond belief. What’s up with this?
BitCoen, an electronic crytopcurrency based off of the idea of BitCoin, is set to launch in September. Businessman Viacheslav Semenchuk, the brains behind the operation, told Russian media outlet RT that he and his partners are in talks with almost 100 trading platforms, discussing the prospects of the currency’s ability to be used for purchasing.
MD: What is an example of one of these trading platforms? I presume my local supermarket is not included.
The currency will be based on the value of the US dollar, with each BitCoen token available for one dollar. The plan is to initially issue 100 million BitCoens.The company hopes that they will be able to circulate up to $1.5 billion in the first two years.
MD: What’s the point of that? The dollar is a known “improper” MOE media. What is to be gained by linking to it? When someone turns over a dollar in exchange for a BitCoen, does it just sit in a box somewhere until someone comes by and asks to do the opposite?
While anyone can purchase tokens, the company will be managed by a ‘Council of Six’ made up solely of Jewish representatives. The representatives will likely be prominent leaders in both public and private sectors, though there is no word yet as to the planned demography of the leaders.
As the currency is aimed specifically at Jewish communities, there will be an automation option so that trading operations may take place on Shabbat, when the handling of money is prohibited by Jewish law.
Semenchuk told reporters that the initial ‘bit book’ for investments has been filled, meaning that the project is viable.
MD: This scheme is “beyond delusional”! Do you suppose god made them do it? They are her chosen people you know!