Talking to a colleague today about the raising of the contactless card limit to £100 next month. We then got onto the subject of a potential cashless society going forward, which seems to be what government, HMRC (which is obviously a part of government) and major financial institutions want, as they seek to possibly negate the anonymisation of exchange as afforded by the use of notes and coins, thus giving them control in the form of overseeing what we all do, and where we get our money from.
He then mentioned bitcoin as the digital equivalent of actual hard cash and rambled on a bit as though I had the remotest clue what he was on about. I didn't, and essentially still don't even after looking it up. I didn't really want to appear thick/uninformed as this guy is a superior, condescending git.
Websites on the issue are very technical and don't really explain the mechanics of the process as they would apply to an ordinary bod like me. How do I buy it, sell it, spend it, and what the hell is "bitcoin mining"?
I mean, I genuinely hope we don't go cashless, but would still like to know how bitcoin works for dummies like me. Anybody understand it?
I think paypal are already accepting it.