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how much money would it take to set up an alternate local currency with full plastic card support? you need someone with a brain to regulate the amount of cur
by drwh0 18y ago
how much money would it take to set up an alternate local currency with full plastic card support?
you need someone with a brain to regulate the amount of currency in the system. how many FooDollars will exist at once? this has been tried. years ago, a neighborhood tried to set up a "chit" system for getting babysitters. because they had no idea how many chits to print up, they just printed up as many as anyone would ever want...in the end they just created their own hyperinflation.
- streety 18y agoIf it is backed against another currency, presumably US dollar, don't you avoid this problem? If you put in USD1 you get out small-town-dollar1.1