Just when you think you have seen all the creativity in the crypto-world, something new comes up to leave you flabbergasted. Meet OneSingleCoin — a cryptocurrency that plans to overtake Bitcoin, with just a single coin in circulation.

The cryptocurrency’s founder prefers to stay anonymous as many others in the industry. But he was happy to share more details about his project when we approached him. “You can call me William,” he told Hard Fork.

William says he got the idea for OneSingleCoin when he was browsing CoinMarketCap looking at all those coins with gigantic circulating supplies.

“I was trying to imagine the thought process of their founders: OK, Bitcoin has 21 million coins, Ethereum has 100 million — we need 10 billion then. Like they were trying to impress everyone by the number of tokens their networks have,” William told Hard Fork. “So I made the opposite. It was just for fun.”

With just one coin in circulation, OneSingleCoin doesn’t plan to compete with Bitcoin or the rest of the coins in terms of market cap. But William hopes that when CoinMarketCap users browse the coins by price, one day they will see OneSingleCoin at the top.

With the current price of $2,117 (3.94 ETH), it is already the second most expensive coin behind Bitcoin’s $6,711. But the cryptocurrency is not currently listed on CoinMarketCap.

Why is William so keen on beating Bitcoin? “Because, fuck Bitcoin,” is his answer.

William sold the coin at first to his friend for 0.008 ETH ($5 approximately) in what he describes as a private initial coin offering (ICO) . After 35 purchases — it is now worth about 400 times more.

William would describe his cryptocurrency as “ CryptoKitties meets MillionDollarPage — except if there was only one precious little kitty and messages on the MillionDollarPage were permanent.”

The rules of the cryptocurrency are hardwired in an Ethereum smart contract . Each time someone buys the coin, its price goes up by 20 percent. The seller receives the price minus eight percent of it, which is equally distributed among all previous owners.

In addition to the profits you can make as an owner if people keep purchasing the coin further, you also get to publish one message on the blockchain. This message is also replicated on the website.

As you can expect, a small number of thirsty marketers have already used their one-off messages to plaster the improvised message board with cheap marketing plugs. But others are simply using it as an opportunity to post memes.

Here are some of our favorite messages published on the OneSingleCoin site:

It remains to be seen whether OneSingleCoin can live up to its lofty goal of becoming the “one coin to rule them all.” But whatever its fate, William tells us all OneSingleCoin messages will live on.

“Unlike the original MillionDollarPage idea, even if the OneSingleCoin website goes down — all messages will live forever on the blockchain,” William told Hard Fork.

“That’s the beauty of decentralization that I admire.”

Thailand’s oldest bank hints at new blockchain app powered by Ripple

Thailand‘s oldest bank, Siam Commerical Bank (SCM), has hinted it will be experimenting with blockchain technology powered by Ripple.

Earlier this week, rumors of its blockchain pilot surfaced online after eagle-eyed users took to Twitter to share images of what appears to be a Ripple-based app for cross-border transactions. “Send money abroad today at the cheapest rates via Ripple,” reads a screenshot of the app, titled SCB Easy.

SCB social media reps have since addressed speculators on Twitter, claiming that more details about the Ripple integration “ will be announce [sic] soon.”

Credit: Twitter / @_bjb

Unfortunately for Ripple enthusiasts, although the Thai bank will rely on blockchain technology developed by the Palo Alto-headquartered company, it remains unclear whether the system will make use of its native token, XRP.

“ We will be using [b]lockchain [t]echnology for [R]ipple but as for XRP, you may have to wait for further announcement [sic],” SCB commented on Twitter.

This isn’t the first time the Palo Alto firm has collaborated with banks. Indeed, a bank in India recently used Ripple tech to facilitate international payments.

Unfortunately, not all financial institutions have had success trialing Ripple‘s tech. Back in 2018, Western Union CEO Hikmet Ersek told Fortune that after using XRP-powered integrations for six months, the payment service had yet to see a financial benefit.

It’ll be interesting to see if things go better for SCB.

SEC chairman crushes hopes of Bitcoin ETFs once again

A week after the Securities and Exchange Commission (SEC) dished out massive fines and closed a prominent “decentralized” exchange , its chairman is dashing hopes for Bitcoin Exchange Traded Funds (ETFs) one more time.

Speaking at a recent conference, chief US financial watchdog Jay Clayton said he is not convinced digital asset markets are free from manipulation, so blockchain bigwigs should probably cool their jets.

After prefacing his views with disclaimers , Clayton noted the market-wide lacking of adequate market surveillance and ‘head-scratching’ security breaches as primary contributors to his distrust of cryptocurrencies, reports CNBC.

“What investors expect is that trading in the commodity that underlies that ETF makes sense and is free from the risk of manipulation,” Clayton told an audience of blockchain-keen investors. “Those kinds of safeguards do not exist currently in all of the exchange venues where digital currencies trade.”

As the name suggests, ETFs are special investment funds that track an index of assets (in this case, cryptocurrencies). They’re different, though, in that stock exchanges list them, and investors can trade them similarly to regular assets.

Clayton also stressed the importance of securing the digital assets underlying the proposed ETFs. He even declared himself unimpressed by the recent flood of cryptocurrency custodial services now on offer.

The SEC chairman then took time to hammer securities law into the heads of entrepreneurs looking to tap the US cryptocurrency market: if you raise funds with a token , more than likely the SEC considers it a security – so take the necessary precautions to ensure you don’t wind up on the wrong side of the law.

Most recently, the SEC fined two cryptocurrency startups $250,000 each after they raised money via initial coin offerings (ICOs), but failed to register their tokens as securities. Authorities then ordered both to return all investor funds and start their ICOs again should they want to continue operating.