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. If you'd like to read more awesome and interesting stuff, check out this unrelated (but not entirely random!) Techdirt post.


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  1.  
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    jameshogg (profile), Jan 8th, 2013 @ 5:10pm

     

    reply to this | link to this | view in thread ]

  2.  
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    Anonymous Coward, Jan 8th, 2013 @ 5:26pm

    this is really just the slow death of cash

    after pennies and nickels, we'll just get rid of all cash and go completely digital, so the govt can track all transactions and illegal transactions will have to go with bitcoin or some other sketchy money system....

     

    reply to this | link to this | view in thread ]

  3.  
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    Anonymous Coward, Jan 8th, 2013 @ 5:43pm

    Re: this is really just the slow death of cash

    That would work out real well for those living on the street.

     

    reply to this | link to this | view in thread ]

  4.  
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    silverscarcat (profile), Jan 8th, 2013 @ 6:09pm

    Wait!

    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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  5.  
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    Anonymous Coward, Jan 8th, 2013 @ 6:12pm

    When the came for the pennies, I didn't speak up.

    You already know the rest. The Federal Reserve will be the death of the dollar.

     

    reply to this | link to this | view in thread ]

  6.  
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    Beta (profile), Jan 8th, 2013 @ 7:30pm

    cosmological inflation

    "Hungary once produced currency with a denomination of 100 million billion Pengos. That's 100,000,000,000,000,000,000 Pengos."

    Umm... Did 100000% inflation occur between the times those two sentences were written?

     

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  7.  
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    Anonymous Coward, Jan 8th, 2013 @ 11:33pm

    Re: Re: this is really just the slow death of cash

    TechCrunch: Bitcoin, Ven and the end of currency
    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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    Anonymous Coward, Jan 8th, 2013 @ 11:34pm

    Re: When the came for the pennies, I didn't speak up.

    Who?

     

    reply to this | link to this | view in thread ]

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    Anonymous Coward, Jan 9th, 2013 @ 4:52am

    Re: Re: Re: this is really just the slow death of cash

    "in theory a street beggar could beg online and receive money from anyone in the world."

    You may have overlooked something here.

     

    reply to this | link to this | view in thread ]

  10.  
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    Michael, Jan 9th, 2013 @ 5:09am

    $1 Trillion Coin

    They should make it exactly the same size as a subway token.

     

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  11.  
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    Beta (profile), Jan 9th, 2013 @ 8:27am

    Re: $1 Trillion Coin

    There has already been an interesting proposal for the design, but it doesn't specify size. Would your proposal also allow it to be used in a parking meter or gumball machine?

     

    reply to this | link to this | view in thread ]

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    TimK (profile), Jan 9th, 2013 @ 9:43am

    Re: cosmological inflation

    I was going to comment on this myself.

    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.

     

    reply to this | link to this | view in thread ]

  13.  
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    nasch (profile), Jan 9th, 2013 @ 7:22pm

    Re: Re: cosmological inflation

    Billion means different things in different countries.

     

    reply to this | link to this | view in thread ]

  14.  
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    nasch (profile), Jan 9th, 2013 @ 7:22pm

    Re: Re: cosmological inflation

     

    reply to this | link to this | view in thread ]


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