It is reported that an island called Alderney in the northern part of Channel Islands located between Northern France and UK will be minting Bitcoins in physical form. The island has a population of 1903 persons . It is likely that the coin will have a gold content of US Pounds 500/- to provide a value backing in terms of Gold. The value of this Bitcoin in terms of US $ would be around $818 as against the current value of Virtual Bitcoin around $1200.
It is an interesting development for economists to think of the consequences.
Naavi
