DailyDirt: Big Money, Small Change
from the urls-we-dig-up dept
We've discussed the possibility of killing off the US penny before, as well as Canada's plans to actually put an end to its penny. Some folks really hate these small denomination coins, but really large denominations aren't too popular, either. Here are just a few links on some money that won't see circulation.- The US Treasury is technically allowed to mint platinum coins of any denomination -- but at least one lawmaker wants to prevent the possibility of a trillion dollar coin. TL;DR -- does this bill prevent the minting of a half-trillion coin? [url]
- There's less than a month left for folks to hoard Canadian pennies because starting February 4th, the Royal Canadian mint will no longer distribute 1-cent coins. Only cash transactions will be affected, requiring people to round to the nearest nickel. [url]
- Hungary once produced currency with a denomination of 100 million billion Pengos. That's 100,000,000,000,000,000,000 Pengos -- worth about 20 cents in the US. [url]
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Filed Under: coins, currency, denominations, mint, pengo, penny, platinum
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http://www.youtube.com/watch?v=y5UT04p5f7U
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this is really just the slow death of cash
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Re: this is really just the slow death of cash
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Re: Re: this is really just the slow death of cash
Not really, since virtual currencies are backed up by whatever the official local currency there is. That is the beauty of it, in theory a street beggar could beg online and receive money from anyone in the world.
Also you have the Canadian MintChip which if hacked could produce infinity monies for anyone.
And then you have the social currency called Ven which appeared to solve one problem, people around the world dealt with different currencies and rules and it was a problem for doing actual business so they invented a virtual currency that could be accepted anywhere and would have one value and the same rules for everyone. Bitcoin also serve that purpose.
This is true globalization now, where people are starting to create their own infra-structure because they have needs, old banks(incumbents) could be left behind in the new economy, now that would be ironic.
Governments could be left without much control over anything, this is exactly why Canada jumped into the bandwagon and launched their own, the US may be surprised to find out that the dollar could become just a local currency instead of a global one, that would be bad for political leverage to lose control over money.
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Re: Re: Re: this is really just the slow death of cash
You may have overlooked something here.
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Can you still get your hands on that Hungarian note?
I wanna get one and pretend I'm rich to everyone. XP
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When the came for the pennies, I didn't speak up.
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Re: When the came for the pennies, I didn't speak up.
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cosmological inflation
Umm... Did 100000% inflation occur between the times those two sentences were written?
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Re: cosmological inflation
A) 100,000,000,000,000,000,000 would actually be 100 billion billion.
B) There's an actual number for 100 million billion. Its called 100 quadrillion.
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Re: Re: cosmological inflation
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Re: Re: cosmological inflation
http://en.wikipedia.org/wiki/Billion
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$1 Trillion Coin
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Re: $1 Trillion Coin
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