Right now, the euros, and DRs, are being backed by copper. Copper, in the current version and likely going forward, is in a position where it can be much much harder to get, increasing its price and likely making it hard for miners to sell to the government when they need to hold on or can find someone else willing to pay a much better price. I suggest, and yes this is wild, that the currency instead of be backed by paper. This is mainly do to the papers ease of production, 10k or so a day, along with copper's price being far to inconsistent. This would assure that the mining, and all other connected professions, can freely trade their copper in the open market where it will find much better use instead of being sold to the government at a likely lose just to assure that UBI and other government functions continue to run. Of course, I dont suggest that paper be worth only 1 euro/DR. Maybe in the ballpark of 3-5 euro/DRs per paper due to how easy and fast paper can be produced.
#Backed Currency.
1 messages · Page 1 of 1 (latest)
the fact that printing money is difficult isn't a bad thing, makes you think more about how you spend what you have
So money really would grow on trees. XD
😅 man this is old now
they aren't backed by copper, it's the tools needed to craft the coins. They're backed by time * users (through UBI) kinda
This was 2 cycles ago when copper was in such a small demand and paper wasn’t. Doesn’t matter anymore with Jen’s saying there’s gonna be more paper demand
yeah I necroed this XD was just reading some of them
This. I just was very funny and calculated the weight of copper cent coins for euro based on real life values and then required copper to backing (as in creation) ratio.
Listen, I just wanted paper to play a roll in the gov more and figured printing money would be fitting :/