This is what happens when money losses its value

bitcoinkerala

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https://btcjam.com/users/39914

Quote from: dashingriddler on July 28, 2014, 10:14:25 PM

Quote from: buysellbitcoin on July 27, 2014, 11:20:48 PM

That was hilarious and if we do not stop war, crony capitalism, destroying countries this may be real for all of us.

http://buysellbitco.in/news/this-is-what-happens-when-money-loses-its-value

Regards

Which country is this?
Also why cannot their govt de-notify smaller denomination and print higher denomination currency notes to avoid this situation?

http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2009/3/25/1237999328897/Zimbabwe-One-Hundred-Tril-001.jpg

subvolatil

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Quote from: polynesia on July 29, 2014, 09:37:23 AM

Quote from: dashingriddler on July 28, 2014, 10:14:25 PM

Which country is this?
Also why cannot their govt de-notify smaller denomination and print higher denomination currency notes to avoid this situation?

They do. But the higher denomination currency notes become worthless very soon. That is hyperinflation. Grin

Yes ! now the defecto currency used there is the US Dollar.

There is a funny story i read a few months back about the US Dollar going through a laundry service there and this laundry service is not what you are thinking about. it is more like a actual Laundry service where old US dollar notes are cleaned and repaired in order for it to be reused. lol

polynesia

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Quote from: dashingriddler on July 28, 2014, 10:14:25 PM

Which country is this?
Also why cannot their govt de-notify smaller denomination and print higher denomination currency notes to avoid this situation?

They do. But the higher denomination currency notes become worthless very soon. That is hyperinflation. Grin

chronicsky

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Just looking for peace

Quote from: buysellbitcoin on July 27, 2014, 11:20:48 PM

That was hilarious and if we do not stop war, crony capitalism, destroying countries this may be real for all of us.

http://buysellbitco.in/news/this-is-what-happens-when-money-loses-its-value

Regards

wow! hilarious , it's just like as it was with bitcoins , i remember seein a post which is being revived time by time the post was of a guy
Selling 10k btc for 50 $ no one bought it lol
i would buy it for 1000$ now Cheesy

bitcoinkerala

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Activity: 84

Merit: 10

https://btcjam.com/users/39914

Quote from: dashingriddler on July 28, 2014, 10:14:25 PM

Quote from: buysellbitcoin on July 27, 2014, 11:20:48 PM

That was hilarious and if we do not stop war, crony capitalism, destroying countries this may be real for all of us.

http://buysellbitco.in/news/this-is-what-happens-when-money-loses-its-value

Regards

Which country is this?
Also why cannot their govt de-notify smaller denomination and print higher denomination currency notes to avoid this situation?

Sudan ..

dashingriddler

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Activity: 1258

Merit: 1001

Quote from: buysellbitcoin on July 27, 2014, 11:20:48 PM

That was hilarious and if we do not stop war, crony capitalism, destroying countries this may be real for all of us.

http://buysellbitco.in/news/this-is-what-happens-when-money-loses-its-value

Regards

Which country is this?
Also why cannot their govt de-notify smaller denomination and print higher denomination currency notes to avoid this situation?

polynesia

legendary

Activity: 1358

Merit: 1000

Quote from: subvolatil on July 27, 2014, 11:55:02 PM

Quote from: buysellbitcoin on July 27, 2014, 11:20:48 PM

That was hilarious and if we do not stop war, crony capitalism, destroying countries this may be real for all of us.

http://buysellbitco.in/news/this-is-what-happens-when-money-loses-its-value

Regards

this is an amazing example, but sadly an example that has repeated through history, time and time again. For example during the Great Depression of the 1930's, many European countries faced a similar crisis, the worth of money has gone so low that it was cheaper to burn stacks of money for heating than buy Fire-wood. Germany at that time faced the worst brunt of the Depression in Europe with money becoming worthless and and to carry a sack full of money to buy a loaf of bread.

The current financial still is vulnerable to such drastic inflation.

Reminds me of a story in Germany. A basket full of money was left outside a shop. Somebody stole the basket and left the money behind. Cheesy

Hyperinflation is a killer.

subvolatil

hero member

Activity: 546

Merit: 501

Cypherpunk and full-time CryptoAnarchist

Quote from: buysellbitcoin on July 27, 2014, 11:20:48 PM

That was hilarious and if we do not stop war, crony capitalism, destroying countries this may be real for all of us.

http://buysellbitco.in/news/this-is-what-happens-when-money-loses-its-value

Regards

this is an amazing example, but sadly an example that has repeated through history, time and time again. For example during the Great Depression of the 1930's, many European countries faced a similar crisis, the worth of money has gone so low that it was cheaper to burn stacks of money for heating than buy Fire-wood. Germany at that time faced the worst brunt of the Depression in Europe with money becoming worthless and and to carry a sack full of money to buy a loaf of bread.

The current financial still is vulnerable to such drastic inflation.

buysellbitcoin

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Activity: 1105

Merit: 1001

https://www.zebpay.com

That was hilarious and if we do not stop war, crony capitalism, destroying countries this may be real for all of us.

http://buysellbitco.in/news/this-is-what-happens-when-money-loses-its-value

Regards

Topic: This is what happens when money losses its value (Read 1120 times)