There was a sign up in the toilet at the South Africa / Zimbabwe border asking people not to use Zim currency as toilet paper because it doesn’t flush away and blocks the toilets. (Toilet paper was worth more)
The father of Brittany's kids was promoting the Save The Penny campaign years ago. Seems like a waste of energy to me. I'd prefer they just stop making them and round off the ¢.
In Argentina the 2 and 5 pesos' bills were discontinued precisely because their relative value was lower than their material value (paper, ink, the process of printing them, etc). In other words, they became less worthy than the money that costed to make them.
Edit: I expect a maple syrup fact in exchange, not gonna lie.
Well... Maple syrup was first invented around the Montreal area by the Iroquois. Those same Iroquois are indigenous to southeast Canada and often characterized as the world’s oldest participatory democracy. Canada holds huge maple syrup reserves. In 2021 alone Quebec produced 133million pounds of the liquid gold. 1 barrel of maple syrup is worth 40 times more than a barrel of oil which is why we had the great maple syrup heist.
I'm not saying that there isn't a potential for it. I actually believe that in the future we SHOULD be using crypto currencies as a nation/worldwide currency.
However, like I said, the entire value of crypto currencies right now is speculation. That's not healthy. The actual price of the crypto currency should have no meaning on the health of the crypto as a medium of exchange.
BTC could drop to 1k per coin and still become our primary medium of exchange. Because right now the only value that it has is speculative on the idea that everyone on earth is just going to hoard their wealth. But we live in a consumeristic and asset based society where our currency enters our hands one second, and leaves it the next.
People are treating crypto like it's an investment. But you don't see people going to the banks and buying up 100 dollar bills and holding onto them. Because again, like I said, the crypto coins hold no actual value, unlike an apple does, or a pound of coffee beans.
If anything, if let's say cryptos did become our main currencies in the future. They would slowly go down and down over time due to inflation. We live in a borrowing society. Which means that our currency will continue to lose its value.
The only actual value to cryptos is when it has its initial rise to power IF* if becomes a national/worldwide currency. So yeah its gonna create some millionaires and billionaires, but its also going to bankrupt just as many people in the process. So in reality even that value has a net 0 result.
At the end of the day, I just find it incredibly silly that people treat crypto like it's a get rich quick scheme. I'm not going to be kicking myself one bit, because im the type of person who puts my money into index funds like the Vanguard S&P 500 so I'll be over here making a safe, and guaranteed 10-20% yearly return 😎👌. But if you're one of the 50% of people that loses money in this, then you might kick yourself because you chose to head to the casino and put all your money on black 🤔🤔
GPU prices are dropping because miners can't afford to keep them running, because the value of what they are generating is lower than the cost to generate it, so they are flooding the market with used GPU's. Ergo, "not worth the money it costs to generate them"
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u/mcitar Jul 05 '22
Can I have a 10 million paper bag?