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If you could design a new currency, what would it be?

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  • #1

    If you could design a new currency, what would it be?

    So lets say there was so much value put on goods and items, supply and demand took hold. To compensate that, we'd need a new form of currency.

    Explain to me if you could design one, what would it simply look like and what would each one be called.

    In my opinion, a Queen or a King, especially Englands would be the only one who could do it better then the United States.

    What I imagine is the same type of Dollar but with more of the gold, finish trim that you see on the $20 and $100 bill quite often. It would be the same looking money but with a unique look to it or similar. There would have to be the perfect look and the perfect trim.

    These are the names I envision.

    100 EE (example)

    ER - Coin currency

    EE - Dollar. Was penny.

    CC - $50 dollar. Was $10.

    PA - $100. Was $20

    PE - $200 bill

    PC- $300 bill

    PP - $400 bill

    PR - $500 bill

    For any type of coin currency, because it would be needed. It was just be ER. But if you want to get more involved with it here's an idea below.

    ER-P Penny

    ER-Z Nickel

    ER-D Dime

    ER - Quarter

    Quarters would just be strictly ER. This in my opinion is the exact currency that will be used at some point in the future when the value of items rise. What it looks like would as I said have to be goldish dollars but with the right trim. This would not happen for years until the value on items was high enough to where almost everyone was going out and buying things.

    Give your thoughts below. And if you think you can do better please lets do hear it. Money has to look a certain way otherwise people won't work for it. We know it has to be paper and it has to be something you can hoard like the way America designed it. Though the amount factor is the main issue. Eventually people will have too much money. I still believe a small change would be needed to the look of the dollar so that it was gold.
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  • #2
    RE: If you could design a new currency, what would it be?

    I would like to see a universal currency of some sort and maybe not so paper based but perhaps go back to gold or silver? I know it's impractical to carry around gold or silver though so I'm not sure how that would work. It would be nice to have a currency that has the same value if you travel to a different country.
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    • #3
      RE: If you could design a new currency, what would it be?

      1@Lämmchen[/USER] it would be interesting. Quite impractical in today's world though I will admit. The reason money does so well is the paper aspect makes it seem as if you can hoard big amounts.

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      • #4
        RE: If you could design a new currency, what would it be?

        Honestly, I would love bigger versions of current money, so that paying for more expensive things wouldn't require a check to be written for payment. The U.S. used to have denominations going from the $1,000 bill, to a $100,000 bill, following the same format as the smaller bills.

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        • #5
          RE: If you could design a new currency, what would it be?

          Originally posted by Joshua Farrell
          Honestly, I would love bigger versions of current money, so that paying for more expensive things wouldn't require a check to be written for payment. The U.S. used to have denominations going from the $1,000 bill, to a $100,000 bill, following the same format as the smaller bills.
          Would you honestly want to carry around that much money though? I mean, even paying for something doesn't always give you a receipt and I would rather go to the bank and get a cashier's check or something where I had a legitimate receipt for something so costly.

          For some things I even prefer to pay by credit card because in the event something goes wrong with the transaction I can dispute it.
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          • #6
            RE: If you could design a new currency, what would it be?

            Paying with a card is usually what most people do and is the best way in these days and times. The thread may seem a bit awkward but hear me out for just a second. About 200-300 years from now, for example lets some someone figures out how to heal cancer, or proof of aliens exist. What that would lead to is the economy being much more wealthy. We are not very advanced for our time period but that's because the human race is still young.

            Later on there will be new things discovered, whether were alive or not. The new form of currency I had mentioned is just names given. And that's merely due to the fact that numbers themselves will have no meaning. If someone had 892 quadrillion dollars 300 years from now, and the interest rates allowed for other people to also bank off that in the stock market, everyone would be rich.

            The point I was trying to make is at some point, even though you will have to earn your keep, you will still have more opportunity to obtain more income. The richest man in the world has over 800 billion dollars. Interest rates even as they are, when bill gates had it was a lot less. If you do the math it's actually almost double what he had at some point if I am correct in saying so. If it continued to double ever 20 or so years without some form of miracle knowledge that would increase it, even then it would be a number that can't be seen properly by our perception of numbers. Someone will indeed be over 1 trillion within 15 years I can almost guarantee it.

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            • #7
              RE: If you could design a new currency, what would it be?

              Definitely the Bizcoin for Bizdustry. It has a nice ring to it, just like "Bitcoin" and I feel this would work well as integration with our forum. It would be crypto.
              http://<img class="bbcode-attachment...="0" alt="" />

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              • #8
                RE: If you could design a new currency, what would it be?

                1@Alexander.[/USER] that would be an absolute classic. It actually does have the perfect ring to it.

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                • #9
                  RE: If you could design a new currency, what would it be?

                  Part of the problem is how do you guarantee its value? And if you are successful, say, in creating a private currency guaranteed by the backing of gold, will you be able to escape the revenge of governments jealous of their seigniorage and the power over trade that a money monopoly gives them? Can you avoid the fate of the creators of Liberty Reserve, for example, tracked down to Spain and arrested there by US agents?

                  Certainly, currencies are created every day and without attracting the ire of governments and many are issues with the blessing of governments. These currencies are in the form of stocks, corporate bonds, gift cards, credit cards, airline points programs and many others. It could even be argued that Google search terms are a currency denominated in other currencies. It all really depends on what the currency is expected to do, how you will create demand for it and how it will be used, most people don’t want to create their own currency. But imagine if we allowed corporations to create their own currencies, backed by their promise of future production. Power companies, tech companies, biotech companies, they all self-issue tokens that are redeemable for their own product or service.

                  This scenario is elegantly explained by Paul Grignon in his short animation: The Essence of Money

                  [video=youtube]https://www.youtube.com/watch?v=_dwL9lqVBxY[/video]
                  [align=center]http://<img class="bbcode-attachment...="0" alt="" />
                  Got a sec? check out:http://<span style="color:#40bf00"><...</span></span> |http://<span style="font-size:12px">...</span></span> | #baysidegamers[/align]

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                  • #10
                    RE: If you could design a new currency, what would it be?

                    Australia, when we had pre-decimal currency, we had: Penny, half penny, crown and more. So seeing penny to me, is outdated.
                    [align=center]\"This is not the end, it is not even the beginning of the end, but it is perhaps the end of the beginning.\"

                     

                    [avatar=topsilver]1[/avatar]

                    [/align]

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                    • #11
                      RE: If you could design a new currency, what would it be?

                      I'd prefer to have no currency whatsoever. A good example is in the various Star Treks series. Everything is free and you just do whatever you like doing, and spend your time helping and contributing to society. I can dig that.
                      -=<>=-

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                      • #12
                        RE: If you could design a new currency, what would it be?

                        Originally posted by Lämmchen, post: 6300
                        I would like to see a universal currency of some sort and maybe not so paper based but perhaps go back to gold or silver? I know it's impractical to carry around gold or silver though so I'm not sure how that would work. It would be nice to have a currency that has the same value if you travel to a different country.
                        If there is a universal currency, I think that most countries would lose their financial power in the market especially stock market, forex market and so on especially the countries that have quite powerful currency already. 

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                        • #13
                          RE: If you could design a new currency, what would it be?

                          There are so many alt coins out there already and they are kind of dumping on the cryptocurrency market already. So, I wouldn't be looking at getting more to add to them. 

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                          • #14
                            RE: If you could design a new currency, what would it be?

                            Originally posted by Anachiwo, post: 10773
                            There are so many alt coins out there already and they are kind of dumping on the cryptocurrency market already. So, I wouldn't be looking at getting more to add to them. 
                            Most of them are regarded as shit coins. Why in the world would I waste my time trying to set up a shit coin that's most likely not going to be valuable? 

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                            • #15
                              RE: If you could design a new currency, what would it be?

                              Originally posted by Heatman, post: 10929
                              Most of them are regarded as shit coins. Why in the world would I waste my time trying to set up a shit coin that's most likely not going to be valuable? 
                              Dodge coin is worthless in my opinion. Bitcoin was doing well. I don't know where their at now. But was worth the investment short term. Investing in smaller coins are pointless. But cryptocurrency can make you money sometimes.

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