How To Make Your Own Currency & The Companies That Already Have - How Money Works

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With all the talk of reckless money printing, hyperinflation and debasement of currencies around the world today, it sounds reasonable to have some kind of backup plan ready to replace regular currencies should the need arise.

Now of course there are crypto “currencies” and they are great as alternative investment vehicles, but their high transaction fees and slow processing times make them extremely unsuitable to replace something like the American dollar, in whatever form it may take.

This is all really frustrating because a nations currency is supposed to serve the people of the nation and it does genuinely seem like in recent years this role has mutated into bending the economy to the whim of policy makers… who may not always have the best ideas.

If only YOU had access to the control panel, you could stop all of this reckless money printing (that according to some top economists and financiers, is driving us towards hyperinflation Armageddon).

This begs the question, how could you create your own currency? And how could an obscure old video game give us the answer to this question.

So it’s time to literally learn how money works as we look into the steps an individual or a group could take to create a currency with the same functionality and recognition as a those created by governments around the world.

So to get started we need to properly understand what a currency must do, to be a viable replacement for lets say the US dollar.

#Currency #Hyperinflation #HowMoneyWorks

Music by Epidemic Sound

[HowMoneyWorks]

The year is 2050 - A young family has to trade in their Bezos Bucks and Microsoft Bills for Elon Marks after deciding to move to Mars for the better weather and employment opportunities.

[DeepankerKaul]

Today I Learnt:
Bezos is the Stonks man😂😂

[JEffinger]

Sounds like company scrip with extra steps

[justinwhite]

Entropia universe is effectively a casino anyway. The gear costs and consumables used to take down a monster is like the bet and the random loot table the monster drops is the payout for playing.

Its a slot machine with extra steps.

By your logic of having the ability to buy goods - being able to buy drinks and buffet entries with casino chips counts too.

Legit surprised you didn't use Disney Dollars as an example.

[AverageDrafter]

I get frustrated with the whole "money printers go BRRRR" meme. Where are the "Lol, loan the same dollar nine times and hope nobody asks for their money!" memes for fraction reserve banking?!?

I guess offsetting something like a UBI and universal health care with an increase to reserve requirements for banks is just too insane to even contemplate.

[glensmith]

Competing with government over ability to create the dominant currency is a way to get that government to eliminate you, not just break up your company. As the saying goes the real reason governments don't like counterfeiters is they don't like competition.

[polvoradelrey]

You can't escape this inflation because it is not only generated by too much money in circulation but also by shortages in production.

[Diogenes_von_Sinope]

remember crypto is just as stable as the power grid.

[tylercriss]

Company scrip huh? Hope we learned from the countless deaths in labor strikes to fight such systems in favor of centralized currency. It's indentured servitude with extra steps!

[thefabulousplatypus]

All these suggestions for alternative currency, including cryptos, value themselves against relative worth of the main world currency. So until that stops, which it won't, any alternative value exchange method will remain inferior and more risky to use.

[anteeko]

Some cryptocurrencies try to not be only a speculation asset but currency at large scale (low transactions, high volume)

[mathmagician]

One thing you could do to keep the value stable while not being dependent on a single currency is pegging it to a bunch of currencies (1 how money works dollar for the average of 1 USD, 1 Euro's worth of USD, 1 GBP's worth of USD etc.)
That way an impact to a single one won't have as much impact on the value as a whole

[agustinjauregui]

Heads up “beg the question” does not mean “raises the question”. It means “asking a question in a loaded way”

[yeetboi]

Cryptocurrency is a digital version of monopoly money

[alessandroruggiero]

You literally described a crypto token in the bsc blockchain. I coded so many of them...

[CaedenV]

Want to make your own currency? Look at airlines and points systems... It's wild.

[ineffablene]

The high fees and slow transactions is mainly a problem with bitcoin, the fist prototype. There are a bunch of newer cryptos that were specifically designed to address those kinds of issues.

[darkmatertm]

I've been trying for years to explain to crypto enthusiasts that hyperdeflation is bad thing... They can't comprehend how something can make them money and be a bad thing at the same time.

[jaredyoung]

Break up Big tech, pass the pro act, People over companies

[destroyer]

I would support a tri-metal standard based on gold, silver, and copper. One dollar would be one dollar, but it would be exchageable at different rates for each of the three metals. These dollars would not be issued by a central bank, instead, the treasury will issue certificates backed by hard metal in its reserves. Metal coins will be abolished in favor units consisting of 99.99% pure copper, silver, and gold. These coins will be the size of the silver dollar. Unlike certificates, units are allowed to be melted down into ingots and back again by private citizens, but minting an impure unit and selling it as a unit will be a crime.