It's Christmas, time to think outside the box with this gift for all our readers.

Webb-site launches WebbCoin
17 December 2017

The time has come for a major breakthrough, a replacement for old-fashioned, inefficient crypto-pseudo-currencies. Webb-site is pleased to announce the global launch of WebbCoin, the World's first centralised crypto-currency system. Run on a single authoritative server, the WebbChain ledger will overcome the "double-spend" problem that Blockchain seeks to solve, replacing Blockchain's laborious "proof of work" in massive, environmentally unfriendly server farms with "proof of ownership" in a single, centralised ledger. We will of course run clustered backups in secure, geographically diverse datacentres around the world.

WebbCoin will initially come in three units of account: the Webble, the Wibble and the Wobble. There will be 100 Wibbles per Webble and 100 Wobbles per Wibble. We promise that only 1 million Webbles will ever be issued, making them 21 times rarer than Bitcoins. The entire money supply of 1 million Webbles will be equivalent to 100 million Wibbles or 10 billion Wobbles. You can see a scaling problem looming here which may undermine our use-case, so when the entire $80 trillion global economy has shifted to WebbCoin, we will introduce a smaller unit of account, the Wubble, with 100 Wubbles per Wobble.

Every user will have a secure Webb-Wallet on Webb-site to hold their WebbCoins and will be able to log in on any device and instantly transfer any amount of Webbles, Wibbles or Wobbles to any other user. No more waiting for 30 minutes while 3 "blocks" are mined on a blockchain to confirm your transaction and your coffee gets cold while the servers get hot. Unconstrained by blocks and block-size, the WebbChain ledger will allow unlimited transactions at zero cost, eliminating the ever-increasing Bitcoin transaction fees. We'll sell ads instead. Or cannabis.

Having finite supply, with no further issuance after the initial coin distribution, WebbCoin will be a better store of value than gold or Bitcoin. We can hear the herd coming. The total value of all gold ever mined is about $6 trillion, so when WebbCoin surplants gold as a more modern and convenient store of value, each Webble will be worth about $6m. Who wants the inconvenience of storing gold, silver or other commodites in vaults when you can store WebbCoin in a Webb-Wallet?

Now of course, you might be wondering how we will determine the initial allocation of WebbCoin. In the interests of social equity, we thought about giving 1.32 Wobbles to each of 7.6 billion people on the planet, but we don't yet have all their e-mail addresses, and they don't yet all have one, so we decided instead that after 19 years of loyal support, each of Webb-site's 24,000 subscribers should be able to get in on the ground floor of the future of money, so we will give each subscriber 40 Webbles and keep 40,000 for ourselves because that will only be 4% of supply.

But it's Christmas after all, so having regard to the ratio of global Webbles to Bitcoins, we will be willing to exchange our retained Webbles starting at the rate of 21 Bitcoins per Webble, in order to give Bitcoin owners a chance to avoid the coming crash and get something of real value. That offer will last for 1 week from tomorrow, after which we will double the price to 42 Bitcoins per Webble, then 84 Bitcoins per Webble starting on New Year's Day, if we have not already sold out. WebbCoin is the future of crypto-currencies. You know it makes sense. Bitcoin is so 2008.

So have yourselves a Webbly Wibbly Wobbly Christmas, and don't spend it all at once, or at all - because there is only one way that WebbCoin can go.

©, 2017

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