Mobino - first serious competitor to btc?

[nicoin]

http://mobino.com/
http://ftalphaville.ft.com/2013/02/18/1383972/why-central-banks-should-take-charge-of-their-digital-currencies/?

Hopefully start of an interesting thread

[evoorhees]

Yeah it's not a competitor at all. It's not a new currency, it's just another way to send Francs around.

[nicoin]

Interestingly, at the moment they give you 10 CHF just for setting up an account! I am in the UK so I looks like it got converted and it shows a £7 balance. I am curious, would this amount actually fluctuate according to the exchange rate with CHF? I wouldn't expect that, waking up and seeing a different amount in the wallet not knowing why...

But if not, that means they have to back all these fluctuating currencies with the CHF, and absorb (or benefit from) fluctuations going either way. Not really a problem at the moment seems the printing presses are more active in US and Eurozone than in Switzerland!

That means it would be in fact something in between, essentally matching any currency. As their wallet solution is interest free and doesn't have withdrawals (you can only pay with it) there is probably no incentive for hoarding or holding large amount though.

The race for digital money is definitely on.

[Milkshake]

If there is no blockchain, it is not a competitor.