I do understand why people 'like' or 'care for' local currencies, but apart from that I really don't think why you should use them? The best thing about a currency effectively is the degree of acceptance in various places. That's one of the beautiful things of the EURO, for example. It doesn't make any sense to make a small, fragile, coin that's only used in a tiny region!
the 'ideology' of a local currency is so that someone that works in the town hands his funds to a business that is based in that town (basically national/international corporate retailers are exempt from being allowd to handle the local currency) thus people can choose to only do business with 'locals' by knowing this currency means the funds wont hit a bank account in another area/country, but stay in circulation within the town.
its like bitcoin ideology not wanting government to grab our wealth but only have wealth being passed between normal people. which are both not 100% fulfilled ideologies especially when people cash out bitcoins to pay electric bills, taxes or regulation licences. or merchants cash out to buy stock from foreign countries.
I wonder if he bought it himself? Probably used taxpayers money and claimed it back on his expenses if he did.
I'll be keeping a close eye on what Mr Osbourne has to say on bitcoin. Hope it's positive but I'm not myself.
and keep your brain switch on too. as osbourne is 2 faced, he says publicly one thing, but then months later we find out he has voted on a new 'act' that means another.
so far the chiefs of HMRC (UK's IRS basically) seem to treat bitcoin as it deserves to be treated. but who knows what whip osbourne slaps across their asses to change later
