Good/Bad currencies | Bitcointalksearch.org

ShireSilver

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Quote from: guybrushthreepwood on January 29, 2014, 05:39:37 PM

Quote from: Jungian on January 29, 2014, 05:29:23 PM

Quote from: guybrushthreepwood on January 29, 2014, 05:10:28 PM

Quote from: yatsey87 on January 29, 2014, 04:55:22 PM

Is this a trick question? All fiat currencies are bad money.

And the only good money is crypto?

You can have money that isn't crypto that is still good.

Like what?

To be good a currency really does need to be separated from government. That's just one of the things that makes bitcoin a good currency.

As an example of a non-crypto non-government currency, I of course direct your attention to https://shiresilver.com Grin

Sonny

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Quote from: hilariousandco on January 31, 2014, 09:48:51 AM

Quote from: keithers on January 30, 2014, 05:54:36 PM

Quote from: guybrushthreepwood on January 29, 2014, 09:12:46 AM

This one is bad:

you can buy those rocks with that dollar bill? Everyone keeps talking about Argentina having serious financial crunch..

What rocks? You can't buy anything with it.

You can get the rock on the bill lol, just cut that part out Tongue

hilariousandco

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Quote from: keithers on January 30, 2014, 05:54:36 PM

Quote from: guybrushthreepwood on January 29, 2014, 09:12:46 AM

This one is bad:

you can buy those rocks with that dollar bill? Everyone keeps talking about Argentina having serious financial crunch..

What rocks? You can't buy anything with it.

keithers

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This is the land of wolves now & you're not a wolf

Quote from: guybrushthreepwood on January 29, 2014, 09:12:46 AM

This one is bad:

you can buy those rocks with that dollar bill? Everyone keeps talking about Argentina having serious financial crunch..

aminorex

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Quote from: hashman on January 29, 2014, 11:21:16 AM

Actually I think you got it backwards, in that Turkey appears to be a place that is managing their currency well now. The traditional answers are Switzerland and Zimbabwe respectively. You can basically tell by comparing different currencies value to any asset (USD, gold, etc.) and see which one held its value the best.

SNB is devaluing the franc competitively with the Euro, last I checked. Switzerland is another victim of the banking fraternity now.

zeetubes

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Quote

a million krone for every inhabitant. (A million krone is about $162,000.)

Not that exciting, and it's the goverments money, not the peoples, right?
[/quote]

I think you should be excited. Compare that with the US where every single person is responsible for probably tens of thousands of Fed created debt. Because of the norwegian social security net, you don't need to work unless you want to. Maternity leave is several years even though people don't want to have kids. The banks are solvent instead of having e.g, JP morgan $70T in derivatives debt. And the list goes on.

guybrushthreepwood

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Quote from: zeetubes on January 30, 2014, 10:56:07 AM

http://business.time.com/2014/01/10/every-norwegian-is-now-a-millionaire-kind-of/

the beauty of a small and shrinking population.

Quote

a million krone for every inhabitant. (A million krone is about $162,000.)

Not that exciting, and it's the goverments money, not the peoples, right?

zeetubes

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http://business.time.com/2014/01/10/every-norwegian-is-now-a-millionaire-kind-of/

the beauty of a small and shrinking population.

guybrushthreepwood

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Quote from: zeetubes on January 30, 2014, 05:49:50 AM

I've read that the hong kong dollar (pegged to the US dollar) is a good bet and the strongest currency is probably the Norwegian krona. The rationale behind owning the HKD is that the chinese government will pull the plug on the peg if the USD starts to hyperinflate. Norway has a small population and lots of oil and their citizens are all millionaires based on a government wealth fund.

What do you mean their citizens are all millionaires?

zeetubes

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I've read that the hong kong dollar (pegged to the US dollar) is a good bet and the strongest currency is probably the Norwegian krona. The rationale behind owning the HKD is that the chinese government will pull the plug on the peg if the USD starts to hyperinflate. Norway has a small population and lots of oil and their citizens are all millionaires based on a government wealth fund.

But I don't own either of them. It's just what I read. The swiss franc is no longer as safe because they've pegged it to the Euro because it was getting too strong.

EM currencies are most likely going to have a really hard time moving forward.

practicaldreamer

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If Mugabe would only wake up tommorow and give the land and his nations assets back to those to whom it rightfully belongs ( ie. us) - then Zimbabwes currency would very quickly become strong again Wink

Jungian

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Quote from: guybrushthreepwood on January 29, 2014, 05:39:37 PM

Quote from: Jungian on January 29, 2014, 05:29:23 PM

Quote from: guybrushthreepwood on January 29, 2014, 05:10:28 PM

Quote from: yatsey87 on January 29, 2014, 04:55:22 PM

Is this a trick question? All fiat currencies are bad money.

And the only good money is crypto?

You can have money that isn't crypto that is still good.

Like what?

The best idea of money before crypto was commoditybased money based on precious metals such as gold and silver. They have all the properties you want money, and because they are a real world asset they can not be printed and manipulated by government as easily as fiat money.

This haven't stopped them from trying though, and we can see countless examples in history of government adding other metals to currency in order to debase the currency e.tc.

yatsey87

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Quote from: guybrushthreepwood on January 29, 2014, 05:39:37 PM

Quote from: Jungian on January 29, 2014, 05:29:23 PM

Quote from: guybrushthreepwood on January 29, 2014, 05:10:28 PM

Quote from: yatsey87 on January 29, 2014, 04:55:22 PM

Is this a trick question? All fiat currencies are bad money.

And the only good money is crypto?

You can have money that isn't crypto that is still good.

Like what?

Like gold, but golds price is horribly manipulated too.

guybrushthreepwood

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Quote from: Jungian on January 29, 2014, 05:29:23 PM

Quote from: guybrushthreepwood on January 29, 2014, 05:10:28 PM

Quote from: yatsey87 on January 29, 2014, 04:55:22 PM

Is this a trick question? All fiat currencies are bad money.

And the only good money is crypto?

You can have money that isn't crypto that is still good.

Like what?

Jungian

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Merit: 1010

Quote from: guybrushthreepwood on January 29, 2014, 05:10:28 PM

Quote from: yatsey87 on January 29, 2014, 04:55:22 PM

Is this a trick question? All fiat currencies are bad money.

And the only good money is crypto?

You can have money that isn't crypto that is still good. But you can't trust a government to run it, because they always end up killing it.

Having it made into crypto means it's safe from manipualtion in a way that is hard to do when humans handle it.

Jungian

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The US has the best fiat currency, because it's the one that can be the manipulated the most with the least consequences.

guybrushthreepwood

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Quote from: yatsey87 on January 29, 2014, 04:55:22 PM

Is this a trick question? All fiat currencies are bad money.

And the only good money is crypto?

yatsey87

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Is this a trick question? All fiat currencies are bad money.

ak84

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Argentina and Venezula have bad currencies.

guybrushthreepwood

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Quote from: YTREWQ on January 29, 2014, 01:41:22 PM

Quote from: guybrushthreepwood on January 29, 2014, 09:12:46 AM

This one is bad:

The Zimbabwe Dollar has not been in use since 2009, because of the extreme inflation.

Hence why it's a bad currency lol

YTREWQ

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Quote from: guybrushthreepwood on January 29, 2014, 09:12:46 AM

This one is bad:

http://www.significancemagazine.org/SpringboardWebApp/userfiles/sig/image/ChampkinUploads/Zimbabwe_$100_trillion_2009_Obverse(1).jpg

The Zimbabwe Dollar has not been in use since 2009, because of the extreme inflation.

hashman

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Quote from: Cluster2k on January 29, 2014, 08:45:55 AM

Smart Turks would be piling their savings into bitcoins right now. They know what's going to happen next.

Actually I think you got it backwards, in that Turkey appears to be a place that is managing their currency well now. The traditional answers are Switzerland and Zimbabwe respectively. You can basically tell by comparing different currencies value to any asset (USD, gold, etc.) and see which one held its value the best.

jofus87

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Currency bad. Money good. BTCBTCBTCBTC

hilariousandco

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Quote from: guybrushthreepwood on January 29, 2014, 09:12:46 AM

This one is bad:

Hard to believe Doge is worth more than Zimbabwean dollars now haha.

gentlemand

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Welt Am Draht

It is indeed. It's a shame the locals didn't hang on to those notes though. I think they were worth about 10c and now they sell on Ebay for $10-20 a piece. The next Bitcoin?

guybrushthreepwood

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This one is bad:

Cluster2k

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Smart Turks would be piling their savings into bitcoins right now. They know what's going to happen next.

hilariousandco

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Quote from: Misesian on January 29, 2014, 04:33:00 AM

After listening to the Joe Rogan podcast with Andreas Antonopoulos where Andreas said that there are many countries out there with poorly managed currencies that could benefit greatly from Bitcoin and that we shouldn't be focused on overcoming the dollar, I wanted to know which countries have the best or worst managed currencies?

Define worst managed. Most fiat currencies seem to be managed pretty bad when the banks just keeping printing more of it as if that's a solution. Just look at the levels of debt the US and UK is in.

Timetwister

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Every fiat currency is a scam. Some more than others, but all them are bad as a store of value.

Misesian

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After listening to the Joe Rogan podcast with Andreas Antonopoulos where Andreas said that there are many countries out there with poorly managed currencies that could benefit greatly from Bitcoin and that we shouldn't be focused on overcoming the dollar, I wanted to know which countries have the best or worst managed currencies?

Topic: Good/Bad currencies (Read 2312 times)