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Proper currencies are used to pay your bills: anything else is speculative. You might think this is a silly definition, because it means that the determination
by mywittyname 6y ago
Proper currencies are used to pay your bills: anything else is speculative.
You might think this is a silly definition, because it means that the determination of how "proper" a currency is depends on where that person lives. And that's absolutely correct.
I have no functional use for Turkish Lira. The only reason I would possess any is because I'm speculating that the value of Lira will increase relative to the currency I use to pay for my needs.
Using that definition, one could create a Proper Currency Score by taking the number of people or businesses that use each currency and multiply it by the gross value of transactions performed in the currency (excluding currency exchange). This definition is at least reasonable on the surface, as the top currencies would be USD, EUR, and RMB.
- traeregan 6y ago> I have no functional use for Turkish Lira. The only reason I would possess any is because I'm speculating that the value of Lira will increase relative to the currency I use to pay for my needs. Or if you’re in Turkey or Northern Cyprus.
- mywittyname 6y agoI'm neither, so it serves no use for me, other than for speculative purposes; and that's my entire point. If the OP wants a metric to use to gauge how "proper" a currency is, that metric should be primarily weighted by 1) how many people need to use it day-to-day, 2) the volume of goods and services transacted it in every day.