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Scotcoin Project CIC Update

 

Scotcoin logo pic
Scotcoin Project CIC Update

Hiya folks, exciting news from the Scotcoin Project has prompted this Scotcoin Project CIC update.  If you read my previous article entitled The Scotcoin Project CIC you will know that Scotcoin is my favourite crypto to date, which remains true – I now have in excess of 600,000 SCOT which has a current conservative value of about $9,000 – $10,000 it fluctuates in line with BTC and was as high as $18,000 when BTC was in the $10,000’s earlier in the year – I was very excited about that as you can imagine!

As I have become used with the highs and lows of crypto currency the decrease in value doesn’t worry me as much as it might have before I started on my crypto journey. Compared to what I paid for my Scotcoin, I am already winning and I WILL be a Scotcoin Millionaire before the year is out, I guarantee it!  Meanwhile Temple and his colleagues are working hard to make sure that continues to mean something.

Catching up with their blog I was excited to read all the latest developments and I’d like to share them with you if you’ve not had a chance to update yourself directly from there. I also made my first podcast, eek! It’s a wee interview with Scotcoin’s Temple Melville with the virtual assistance of Caroline Wylie where we chat about the latest happenings at The Scotcoin Project CIC and I grill Temple about the new Scotcoin V3 which has just been released.  Read on to find out all the goss!

Picking up from where I left off last year …..


Scotcoin Timeline 2020 Scotcoin Symbol


January 2020 –
Well I never! The first subject in Scotcoin’s January blog is ME!  I’m flattered and honoured to be included in Scotcoin as History with a piece I wrote for an advert for Scotcoin which will be filmed next month by Bad Pony Media – PurpleLioness is going to be on the telly! Are you ready for your close up? There’s still time to sign up if you’re quick, pls comment below with your email and I will send you the details.

Also in January, in response to a claim that no one builds on Ethereum @adamscochran tweeted an epic list of 359 companies, start ups and Dapps that currently use or are building products on Ethereum including Nike, Barclays, McDonalds, Berkshire Hathaway to name but a very few and in support of this @cryptocanada sent the below picture:-


Ethereum DeFi Ecosystem Pic

 

Exciting stuff! I’m going to be looking into other Altcoins/Tokens individually over the next few weeks starting with Ethereum  as I have been asked questions that I have no answers to and with Scotcoin V3 moving to the Ethereum blockchain imminently it’s time I learned and as always PurpleLioness be sharing!

When I was researching this article I looked at my own wallet and wondered when I first joined Scotcoin, I thought it was in May but it wasn’t it was in January, so this month was my 1st Anniversary of being a Scotcoin holder! I wish I’d realised at the time, I would have had a mini party with myself, lol!  At the time I didn’t know I would get so involved but The Scotcoin Project CIC is a fascinating example of what can be done with cryptocurrency and to be up close and personal with something I have a real life stake in is, for want of a better word, priceless.

Lastly in January, students from two universities (Glasgow and Strathclyde) Fin Tech societies have organised a Fin Tech pub quiz to be held on 12 Feb in Glasgow. It will be open to all students from both universities and sponsored by Scotcoin who will be awarding different amounts of SCOT to the top three winning teams. It is hoped that the quiz will pique the interest of a larger student audience and help spread the word about Fin Tech as it occupies a more pivotal and prevalent role outside the financial industry.


Scotcoin pic


February 2020 –
After the whirlwind that was last month, February started fairly quietly until news of Coronavirus hit and the economy was once again turned on it’s head. Money printers began whirring all over the globe and cryptocurrency is being highlighted by many as an alternative in the case of banks no longer honouring your card purchases.

Temple took offence to an article in BBC business news called ‘Blockchain the revolution that hasn’t quite happened’ that he found rather smug considering that Bitcoin itself is only 10 years old and it took about 28 years for Barclays (the example used) to put up their first digital bank website. As the only Blockchain expert in Scotland and author of ‘Blockchain, Bitcoin and What the Difference Means to You’ – Temple knows better than most that in financial terms 10 years is nothing and Blockchain is only just getting started.

Also in February and given extra fuel by the Coronavirus outbreak, contactless payments are at the forefront just now as the number of ATM’s available are being reduced. People are making fewer trips and withdrawing larger amounts preferring £50 notes to, for instance, £2 coins as evidenced by the lack of use of the latter and rise in use of the former.  We are moving further towards a cashless society as more people understand that cash is a store of value, that the interest earned by keeping it in the bank is next to nothing – I rant about this slightly in a previous article about crypto wallets if you’re interested. Temple has previously argued, and I agree, that cryptocurrency is another asset class/store of value – this also seems to be filtering through to society as crypto becomes more widely used and discussed.

Cryptocurrency Act of 2020 introduced to US Congress tweet

 

March 2020 – on 10 March 2020 The Cryptocurrency Act of 2020 was introduced in US Congress, aiming to clarify regulatory responsibilities.

Also in March, Scotcoin reported that Sunita Grote (Program Funding Manager for UNICEF) had given an interview about UNICEF embracing cryptocurrency and blockchain as a means, among other things, to get humanitarian aid to disaster areas faster and more efficiently. If you fancy a read it’s here but look at it later because there’s more……

Caroline went to an event, at a secondary school in someone’s stead at a place called Royston which has been described as one of the rougher parts of Glasgow.  She was due to meet with and interview a group of students aged between late 15 and 17 years old. Assuming they would be mostly underachievers without much ambition, she was pleasantly surprised to find that each and everyone of them were polite, confident and in tune with their plans for the future. It ended up being a very ‘feel good’ experience for Caroline and her colleagues leaving them in no doubt that the future was in good hands.

Coronavirus pic

 

Not long after this event the entire UK went into Lockdown, Scotcoin continued to function as normal as they were already set up to operate remotely. Tips for working from home for the first time were available in the March blog and it was pretty much business as usual. My Scotcoin still made it’s way to my wallet at the appropriate time and it continued to make me smile to see it there!

On 25th March I read a mini horror story on the Scotcoin blog which underlined for me, why crypto is important and why I’m trying to acquire as much of it as possible. It was an interview with Neel Kashkari (President of the Federal Reserve Bank of Minneapolis)  and CBS’s 60 Minutes which can be summed up with the words ‘money machine go brrrr!’ which has become a rather chilling meme on social media.  While governments globally set their money printing machines to stun, eventually there will be a day of reckoning when inflation will render fiat money worthless – I will be hodling crypto against that day, you should too.  As ever Scotcoin have a solution prepared, double bubble Scotcoin when bought through the exchange* – nice one Scotcoin!


April 2020
– On 16 April, Temple did a podcast with Roger Edwards, Marketing and Finance, there’s a link available at the bottom of the page because I’d quite like you to listen to mine first, however, if you’d like to know more about Bitcoin, Blockchain or Scotcoin before hearing about Scotcoin V3 then look below.

Competition Time! 

Scotcoin is doing a project called Vintage Firsts as part of their Scotcoin in History that I mentioned at the beginning of this year’s timeline (go on scroll back up, we’ll wait, there’s always one!) They are a collection of people’s stories about the first time they experienced something and how they felt followed by their first experience of using a cryptocurrency wallet. It has been put on hold because of social distancing measures so there is still time to enter. The best one received by the end of May wins 25,000 Scotcoin.  How’s that for a prize! Get your game face on, take a trip down memory lane and you could be 25,000 SCOT better off by June – I’m in, wbu?

Scotcoin banner

May 2020 – May kicked off with another competition -this one is for 5000 SCOT. Find the Scotcoin banner on a building which can be seen from a well travelled road (that’s a clue btw) enter via  info@scotcoinproject.com to include your full name, your wallet address and where the banner is or a pic of you standing under it to claim your prize. End date is the first correct entry or 31st May, if the prize goes unclaimed it will be donated to charity. Give it a go, if you recognise the building or you’ve seen the banner on your travels – I’m taking an educated guess that the building is in Scotland – go ahead and enter, you could be 5000 SCOT better off for the price of a selfie and an email.

So that’s you all up to date, hope you enjoy my podcast with Temple, if you do please like and subscribe for more. As ever if you have any questions or experiences you’d like to share please comment below, I’d love to hear from you, stay safe.

PurpleLioness’ Podcast Transcript


Asking for a friend! – 10 Burning Questions I Have To Ask:-

Temple Melville

Question 1 – In June 2016 in a blog about cryptocurrency and taxation you said that then Britain was considered the best jurisdiction to trade in digital currencies but that may change after Brexit. Has it?

Question 2 – What has been the biggest impact of COVID-19 on Scotcoin specifically and crypto as a whole in your opinion?

Question 3 – Has Lockdown piqued interest in cryptocurrency as a viable means of payment not just for goods and services but for wages and salaries?

Question 4 – Are you ready for that?

Question 5 – What about Scotcoin V3?

Question 5a – How does it work?

Question 5b – What’s an ERC20 token?

Question 5c – Can you buy stuff with it?

Question 5d – Where already accepts it? Anyone new since last year?

Question 5e – When will I be able to use it on Amazon for instance?

Question 5f – I’m a holder of the current version of Scotcoin, do I need to do anything myself to change to V3?

Question 5g – Will we need ETH instead of BTC for transactions now?

Question 6 – How easy is it to set up a business that accepts Scotcoin?

Question 7 – I notice that you offer marketing support to businesses accepting Scotcoin, what form does that take?

Question 8 – I am opening an online store (at Token Markets ) soon which will accept Scotcoin as well as other crypto, what support might I be able to get with this from Scotcoin besides marketing? Will the set up be different for accepting V3?

Question 9 – Should we be paying more attention to blockchain?

Question 10 – What next for Scotcoin?

 

 

 

Link to Temple’s Podcast with Roger Edwards, MAF

*At the time of writing, I’m not sure if this offer is still in place, I will check with Temple and his answer will be in the comments, pls take a look.

PurpleLioness

12 Comments

  1. i would like to know more about this ScotCoin, how is it different from BitCoin? because i have had a lot of people come to me talking about joining and stuff.

    • Hiya Chezya,

      The main difference is the price, Scotcoin is much cheaper to buy right now than Bitcoin. Obviously it’s worth a lot less too but it’s a lot less well known. Also as far as I’m aware Scotcoin has already been mined, Bitcoin will be mined by 2140. Hope this helps, if you need any further info or help setting up a wallet please come back to me.

      KRs

      PurpleLioness

  2. This is a great article and i would like to say congratulations on your success with ScotCoin. Thats a major achievement, as well as making it to being the first one they Blogged about in Jan 2020. Are there any major differences between scotcoin and bitcoin? any downside to it? 

    • Hiya Chezya 

      Thanks for your reply and your kind words. I was so chuffed to be in the Jan blog. Soon I’ll be celebrating becoming the first Scotcoin Millionaire too, I hope. I suppose the major difference between Scotcoin and Bitcoin besides their current worth would be that Bitcoin has still to be fully mined and as far as I’m aware Scotcoin already has been, I will double check that with Temple and update if I’m wrong. Thank you for asking. As for a downside, I would say that as with Bitcoin a lack of understanding and adoption is hindering but more people learn about it every day so it won’t be a problem forever.

      Thank you for your interest.

      KRs

      PurpleLioness 

  3. Thank you for this article about the Scotcoin Project CIC Update. Great job on the earning with Scotcoin. I have been looking onto Scotcoin for some time now and I think it’s time to make a move. I can see why it is your favorite crypto currency. I wonder at what point crypto currency will replace the dollar. It could happen and could happen quicker than people think. 

    • Hiya Russ,

      I really do love Scotcoin ngl! You could do worse than look into it. Now is the time especially if the double bubble offer is still on but even if it’s not any way you slice it it’s still a bargain, for now. I agree that crypto will replace the dollar sooner than people think or round about the time the money machines stop whirring long enough to hear inflation rising so fast it actually makes a sound!

      Thanks for your interest

      KRs

      PurpleLioness 

  4. I must say that I have not really been an avid follower of cryptocurrency developments.  I think it has more to do with my aversion to very risky and speculative ventures, rather than to the viability of cryptocurrency itself. 

    Based on the developments that you have outlined in your article, though, it appears that this type of currency is gaining momentum.  Perhaps the impact of the current COVID-19 pandemic will likewise initiate something for crypto. Of course, time will tell and I hope that you are right. 

    Thank you for the update and all the best.

    • Hiya JR and Zen

      You’re not alone, I only learned about crypto myself last year. It’s high volatility does make it a risky venture for many reasons but I believe in it strongly as a new and better currency for our future. It is needed and welcomed and sooner than you think you may need to learn more about it along with everyone else. Hopefully I can help you with that, please come back anytime, I’m learning and sharing as often as I can. 

      All the best

      PurpleLioness 

  5. Wow this is amazing. I had to make the calculation of 1 scot to a dollar when i saw how much you’ve got via this scotcoin. Your review is enough prove for me to try this out, if 60SCOT is equally to 1dollar then its fair enough for me.

    Thanks for sharing this with me, I can’t wait to own my SCOTCOIN.

    • Hiya Rolex4real,

      Thank you, it IS amazing, isn’t it! Get in now while the dollar is still worth something, when the money machines stop whirring, you’ll be glad you did. I have to pinch myself sometimes when I look at my wallet and see how much my Scotcoin is worth. It helps me feel I’m securing mine and my family’s future, crypto is the future of money and that future is getting closer by the day. If you need any help getting your Scotcoin, please get back to me and I’d be more than happy to help you out.

      Thank you for your interest, good luck with your investment 

  6. Nice article, I would like you to know that ScotCoin is a cryptocurrency that is aimed to be an official digital coin in Scotland. ScotCoin is not an official governmental project, but it is designed especially for Scottish citizens by its team of programmers. The ScotCoin project was launched by Derek Nisbet, an Edinburgh-based venture capitalist, in 2013…

    Hope getting to know what scotcoin is will give all you need to dig more…. thanks for the review

    • Hiya Evans

      Scotcoin was indeed founded by Derek Nisbet in 2013, however, in 2016 Derek sold the IP and economic rights to Temple Melville and David Low. The Scotcoin Project has been granted the rights to develop Scotcoin as the cryptocurrency for Scotland. Today the Scotcoin in my wallet is worth upwards of $10,000 thanks to the hard work  put in by The Scotcoin Project. I believe they are building something worthwhile and lasting that can benefit all of Scotland as is their vision.

      Thanks for replying

      KRs

      PurpleLioness 

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