Bitcoin Forum

Hello all bitcointalk members.

I am here to call you all who are interested to participate in this project and build it together.
I was impressed by BTC community and spirit, there are only few coins that has real world usage besides being an online crypto, therefore i have decided to create a new altcoin CGBP - Crypto-GBP)

There are too many altcoins that are just ponzy schemes, p&d, and scam.
With this project i want us crypto enthusiasts to create a coin that is valuable and usable just like bitcoin.

Main incentive for this coin is that we will go in to a local community, local retailers and offer them our coin as a viable alternative to commercial services like yespay, transax, or vpay who are ripping off both merchants and customers, haven't you had enough of you local off licence charging you up to a pound extra just to accept your card?

I would like to hear from you guys of what do you think?

Would you like to join me?, develop this coin and advocate it, bring it to the local people?

In great hope to hear your replies soon, madptj!

Hi,

If you are still around in 6 months (no offense, the brand new account doesn't fill me with confidence  :D ) then you should contact CCEDK.com.

They already have GBP (£) trading pairs with:

BTC
LTC
PPC
NXT

If you can get the volume, then you would have direct fiat-to-crypto trading. Which I think is essential for your project that seeks wide (average Joe) adoption.


The danish exchange is established and trades in a total of 9 fiat pairs, and you can look up their business registration.

There are just too many altcoins and you haven't provided a very compelling reason for creating a new one. Why not just use Bitcoin?

I understand indeed, i registered to bitcointalk just to create this post.

I was referring more to a local merchant and small business integration, starting with London areas, expanding trough out the country.

If anyone wants to have a chat you can find me in weekly Coinscrum, on tuesdays in Vape Lab (shoreditch high street)

Good question, NathanJackson

I have two reasons:

With this project we can improve on bitcoins technical aspects making it more efficient to its users.

Appeal more to a local demographic

Bitshares already has bitGBP, which is pegged to the real GBP. Why not join the community and spread awareness of this already existing solution, rather than trying to create your own?

https://bitsharesblocks.com/asset/orderbook?asset=GBP

Does it have volume?

No, but it exists, that is the first hurdle.

But GBP exists.

To further quote you, bitshares bitGBP are awesome for us people in crypto world. Now please try explaining those to your small business owner? How will you introduce and pitch this system as being nore simple than corporate payment processors?

Already done

Britcoin and Sterlingcoin

Both Britcoin and Sterlingcoin said they were supposed to be widely accepted in the UK, and neither of them are. Why should CGBP be different?

PM me when you get close to releasing it and i will help market it and give it the price it deserves  ;)

Thanks for the insight, britcoin and sterlingcoin looks good from our perspective, but what i see in britcoin - nothing special, sterlingcoin - amazing that they have incorporated online merchants some domestic, some foreign. But what do they lack? real world integration. Those coins have 6+ dev team behind them.

This project is far bigger in scope. I want our community to work collectively on our currency, making it popular and widely accepted.

Whatever questions you have for me about this are also questions for you to answer about your own currency. Don't waste your time reinventing the wheel here. You could apply the wasted time and effort (and cost) of creating a new cryptocurrency to the merchant adoption phase with bitGBP.

edit: in fact, I can even help you with the adoption part, since I'm running an open source bridge from BTC into bitBTC - I can provide you with half of what you need to implement a GBP->bitGBP bridge completely for free.

Keep us updated on this please, always nice to see another UK based coin

I don't get how this isn't just another alt? What's different? Why wouldn't merchants just use bitcoin?

Exactly - building just another altcoin with GBP in the name doesn't make it have any actual utility. It would have poor liquidity, be a terrible store of value since the actual worth of the coin would fluctuate and offer nothing that bitcoin doesn't already offer.