25 Sep '12, 4am

Royal Canadian Mint rigged the MintChip Challenge. My response... #bitcoin #mintchip #banking #mo

Royal Canadian Mint rigged the MintChip Challenge. My response... #bitcoin #mintchip #banking #mo

However, MintChip did boast one very compelling feature – irreversibility. One of Bitcoin’s greatest attributes is that once a payment is made, it is “good money,” meaning it cannot be reversed by the payer. MintChip claiming the same feature meant that, in spite of the other reservations, perhaps it could compete with Bitcoin after all. More immediately, and with an amusing degree of irony, the irreversibility meant that MintChip was actually a great way to buy bitcoins! Unlike with credit cards, a seller of BTC could accept MintChip and send BTC immediately, without worrying about a chargeback. This was seen as a very big plus for Bitcoin itself – having a new funding option which, if the Royal Canadian Mint was successful, would become quite popular.

Full article: http://blog.bitinstant.com/blog/2012/9/24/mintchips-barba...

Tweets

#Bitcoin made a big splash in the MintChip challenge - so why won't they acknowledge our entry?

#Bitcoin made a big splash in the MintChip chal...

codinginmysleep.com 24 Sep '12, 11pm

While Bitcoin has been attempting to bring money into the modern age, it hasn't been alone. The Royal Canadian Mint has be...

Slashdot: Mintchip is designed to track you by ...

news.slashdot.org 25 Sep '12, 7am

it's about time I clear my conscience... The system keeps track of what funding sources you've been "in contact" with, kin...