Questions for Hull City Council.
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As you know we are supporting Hull City Council with HullCoin.
I understand there will be a lot of questions regarding this, I would like to give everyone a chance to ask a question which I will then ask Hull City Council to answer so we can get a write up on it?
Please post your question below:
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Here’s a couple for you :)
- Can you explain how the mix between FTC and Ven is going to work?
- Will you be re-branding FTC with the Hull Coin logo, or will the end users use exactly the same tool sets as any other FTC user?
- What infrastructure do you have in place to support local merchants wanting to accept Hull Coin in payment for goods and services?
- Are you going to limit what you allow users to spend the coins on, if so how do you intend to do this?
- Do you have any intention to stop multi-pool mining and mine FTC directly?
UM
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bump* please add any questions.
Thanks UM for yours :)
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I would like to ask them about how they plan to deal with the naysayers.
It looks to me, they have a solid process in place. They need a voucher system whereby they can issue tokens, which are cheap or cost neutral to manufacture which are counterfeit proof and are easy to spend. They have chosen their technology wisely. How are they planning on Educating people about the benefits of this system?
Secondly, how are they planning on dealing with ‘loss of coins’, if someone makes a mistake with their wallet? Personally, I’d say they don’t have a responsibility here yet for example if someone washed their paper food vouchers in the laundry, then they are silly. But without education on best practices on cryptocurrency, can we claim that people’s mistakes are down to stupidity? Do they see the geekiness as a problem?
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I would also like to know about how they intend to use Feathercoin & Ven together.
And also if this social enterprise is open to donations (directly in FTC perhaps) as its success or failure could be pivotal to other councils doing there own trial.I would be interested to know what pos they have given / had in mind for the shops / services that accept the FTC / hull coins.
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- Can they outline the reasons why Hull coin was decided to be a mixture of Ven and Feathercoin?
- Have Hub Culture (owners of ven) approved this scheme/had any input?
- Will there be a new wallet developed which supports both Ven and Feathercoin?
- Will users of Hullcoin be required to become a member of Hub Culture?
- How will the mix of Ven and Feathercoin work? Assuming they start at 50-50 and Ven is a pegged currency and Feathercoin is highly volatile, won’t one of the currencies come to dominate the equation, after a short period of time it is highly likely you will have >90% of your value in Ven or >90% of your value in Feathercoin?
- Will residents using the scheme be offered any training of how to use these currencies?
- Where is the money for the ongoing support of this scheme coming from?
- Will major retailers be able to accept Hullcoin and in what form?
- Why does the council feel the need to make speculative crypto-currency investments (mining scrypt coins)? Most people in the UK are opposed to speculative “casino” banking so why is Hull going against this and investing in one of the most speculative assets there is?
The above questions are from a reddit member.
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Thanks for all your questions, I will get them to the City Council.
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Thanks for all the questions guys, I have sent them onto Hull City Council, it may be a week or 2 before we hear back from them :)
