Topic: Have anyone come across this? Whether it is a true currency or fake one....? - page 2. (Read 454 times)
January 22, 2020, 01:34:52 AM
I don't care what kind of currency this is in the world, but if I convert it to USD it will undoubtedly be very low in value and cannot be compared to the value of Bitcoin. It's funny when you compare the value of Fiat with Bitcoin, the value of bitcoin is too large compared to Fiat so you should not compare them that way
January 22, 2020, 01:30:05 AM
I've seen it. Someone gave the money to my friend. The person said that it was the currency of the country of Yugoslavia. The country no longer exists, so it has no value. Finally, the money is sold to old money collectors.
January 22, 2020, 01:19:34 AM
There are many "0" on it but i think its value compare to BTC is very low. The most valuable fiat now is not more than x3 usd value.
January 22, 2020, 01:02:55 AM
If i'm not wrong that is Yugoslavia paper money and suposed to be after this country breakup then their currency cannot be used anymore and if he says it have higher value than bitcoin value then he clearly wrong about it however i assume your friend know nothing because with showing the currency which cannot be used anymore to compared with bitcoin it showing he doesn't know bitcoin
January 22, 2020, 12:49:19 AM
he just took a picture of the fiat paper, obviously its form a country's currency whichever it is but it wouldn't be worth 1BTC. if a country prints that kind of bill that means they over printed lots of bills already like that of a Zimbabwe. 50,000,000 could be worth a cent this time in USD. not to disrespect the government of that country.
Right. They deserve honor for ruining the national economy.
How asslicking stupid does it have to be to avoid censorship?
January 22, 2020, 12:44:51 AM
Value is purchasing power, not represented by numbers, but is represented by how much it can buy. Any government could release a million numbered bill, but it doesn't guarantee you could buy a car. Most often, high-numbered bills indicate high inflation rate, in which 1 unit of a any currency becomes low valued.
This is the exact opposite of Bitcoin, a deflationary currency. As we can see, 1 Bitcoin has increased in value, and therefore also increased the amount of goods and services a single unit of that currency could buy.
This is the exact opposite of Bitcoin, a deflationary currency. As we can see, 1 Bitcoin has increased in value, and therefore also increased the amount of goods and services a single unit of that currency could buy.
January 22, 2020, 12:30:11 AM
what the number on the face says doesn't matter, the purchasing power matters and is what determines the "value" of that piece of paper. you may be able to exchange that with a cup of coffee even and that makes its real "value" pretty low.
there are many countries among developing ones that have high inflation rates that has crashed their currency value that currently have currencies in this shape with a lot of zeros. basically that is where every fiat currency is headed because they all suffer from inflation thanks to governments' constant money printing policy. so they all end up with a lot of zeros eventually but some get there faster.
that is entirely off topic to bitcoin though since bitcoin is deflationary so if anything as we move forward it gains more value so the zeros in front of what you pay for something like a cup of coffee decrease.
there are many countries among developing ones that have high inflation rates that has crashed their currency value that currently have currencies in this shape with a lot of zeros. basically that is where every fiat currency is headed because they all suffer from inflation thanks to governments' constant money printing policy. so they all end up with a lot of zeros eventually but some get there faster.
that is entirely off topic to bitcoin though since bitcoin is deflationary so if anything as we move forward it gains more value so the zeros in front of what you pay for something like a cup of coffee decrease.
January 22, 2020, 12:23:08 AM
You're right I requested my friend to send the other side of the currency. It resembles the same as that you've posted
So you got your answer now? Is it a Vietnamese Dong or Serbian Dinar?
It's kinda funny when he believes that fiat money with lots of zero are more valuable than 1 BTC. Hell, it's not even more valuable than 10 grams of gold.
January 22, 2020, 12:16:02 AM
Today while making a conversation with my friend I said about bitcoin and its price in terms of USD. This was quite high and no other currency has got such a high value. To me he responded sending an image that I've posted here. He doesn't know which country this currency belongs, but he mentioned whatever the value might be surely it'll be higher than bitcoin. Have any of you knew about such currencies with such a big value.
Whatever currency is that, it is no better than Bitcoin. By face value alone, it is nothing but a piece of paper.
And we all know that the time is moving forward. Sooner rather than later, that piece of paper will have no more place in a technologically advanced world.
January 22, 2020, 12:11:34 AM
You're right I requested my friend to send the other side of the currency. It resembles the same as that you've posted
So you got your answer now? Is it a Vietnamese Dong or Serbian Dinar?
It's kinda funny when he believes that fiat money with lots of zero are more valuable than 1 BTC. Hell, it's not even more valuable than 10 grams of gold.
January 22, 2020, 12:01:43 AM
That language looks like Latin or a language from Eastern Europe. That currency is not their lowest a unit currency, so their unit currency is very much less that bitcoin, and I ma not even sure this huge amount on this paper will be worth something, as the nation may be battling inflation and would have devalued their currency.
January 21, 2020, 10:18:54 PM
Lol no comparision with bitcoin at all.
You cant compare gold with a piece of paper with numbers in it and its not a US dollar so looks like your frnd is a kid.
There are bunch of african countries where government keep printing fiats with big numbers everyday without any reserve metals or foreign currency backing it because of high inflation rate. The above fiat also resemble one of those countries...
You cant compare gold with a piece of paper with numbers in it and its not a US dollar so looks like your frnd is a kid.
There are bunch of african countries where government keep printing fiats with big numbers everyday without any reserve metals or foreign currency backing it because of high inflation rate. The above fiat also resemble one of those countries...
January 21, 2020, 09:55:45 PM
I guess this is how the front or face of that monetary note look like. Don’t be surprised to see monetary notes with face high value but when exchanged the values is just a fraction of the amount. One example is the Vietnam Dong. Value of 1 Million VND is just $43 USD.
You're right I requested my friend to send the other side of the currency. It resembles the same as that you've posted.
January 21, 2020, 06:31:35 PM
I guess this is how the front or face of that monetary note look like. Don’t be surprised to see monetary notes with face high value but when exchanged the values is just a fraction of the amount. One example is the Vietnam Dong. Value of 1 Million VND is just $43 USD.
January 21, 2020, 06:02:09 PM
apparently there is a currency called Yugoslavian convertible Dinar(YUN) and can be converted into $126 per 10000YUN(source) so if your friend
is holding a Yugoslavian convertible Dinar then he is right that the value of that 50MillionYUN is higher than 1 bitcoin. but if we compare 1 YUN to
1 bitcoin it's clear bitcoin has a higher value.
is holding a Yugoslavian convertible Dinar then he is right that the value of that 50MillionYUN is higher than 1 bitcoin. but if we compare 1 YUN to
1 bitcoin it's clear bitcoin has a higher value.
Look out the window. Yugoslavia hasn't existed for a few decades now. The closest thing will be the Serbian Dinar. I doubt you'd get anything other than a clip round the ear if you turned up with that to a bank in Belgrade.
January 21, 2020, 05:58:11 PM
I don't know what currency is that but not big value maybe big numbers, what if 50,000,000 = $5? We don't know and I don't think a currency will reach a price same or higher with bitcoin. There are countries that have a huge difference in value compared to dollars I think that is why it has a huge 50M numbers I think your friend is just messing with you.
January 21, 2020, 05:40:46 PM
it looks like it's just old-fashioned money for collection, amount of money that is too large in one paper, surely the money is not very valuable, I do not agree if the value is considered to exceed the value of bitcoin, It seems that in markets like AliExpress there are people who sell money like that for collections.
January 21, 2020, 05:00:30 PM
apparently there is a currency called Yugoslavian convertible Dinar(YUN) and can be converted into $126 per 10000YUN(source) so if your friend
is holding a Yugoslavian convertible Dinar then he is right that the value of that 50MillionYUN is higher than 1 bitcoin. but if we compare 1 YUN to
1 bitcoin it's clear bitcoin has a higher value.
is holding a Yugoslavian convertible Dinar then he is right that the value of that 50MillionYUN is higher than 1 bitcoin. but if we compare 1 YUN to
1 bitcoin it's clear bitcoin has a higher value.
January 21, 2020, 03:59:28 PM
Just some additional notes for this topic, the number of zeroes in a fiat currency doesn't mean it has a high value, it still depends on it's equivalent fair market value based on it's demand and supply and of course the economy of that fiat currency's country. If we are only talking about Fiat currencies here then the most highest valued currencies out there are found in Middle Eastern countries. 1 Bahraini Dollar is equal to 2.65$ (USD), 1 Omani Rial is equal to 2,60$, and 1 Kuwaiti Dinar is equal to 3.29$ which are all pretty big compared to other countries' fiat currencies. The fiat currencies I have mentioned of course cannot match the value of Bitcoin currently even if you add in other cryptocurrencies found in the market you will see that Bitcoin is currently the most valuable currency out there.
January 21, 2020, 03:45:47 PM
Isn't all paper currency fake? Some Government says - here, this has value now - and there's nothing more to worry about, right?
The image you shared doesn't offer much information. But here's the thing, go try to buy something with it. If the seller accepts it as payment - it's real!
The image you shared doesn't offer much information. But here's the thing, go try to buy something with it. If the seller accepts it as payment - it's real!
Jump to: