Is there really a need for Virtual Currency?
Every day I get an invitation to participate in currency trading, or to buy products to a value that somebody else has decided. Currency trading is described as buying and selling currency… but what is currency?
Currency represents the value of a product or an asset, and nobody but you can decide if the currency or the product is worth what somebody else says it’s worth – to you.
Is currency the same thing as money?
Time is money is a phrase we have learned. So how can you trade time?
Well, all those who still have a job knows that their employer values their time depending on what their role in the company is. The employer pays for your work – you get a salary.
Depending on where you live – your work is paid in dollars, pounds, euros, yen or whatever your country specific currency is named.
Printing money is fading out – internet banking is stepping in
Creating those notes and coins is a cost. Then the paper notes get worn out – has to be replaced. Coins gets lost – and has to be replaced. Handling the money is also costly, not to mention the security risks.
That’s why banks are recommending internet banking. No risk for bank robbery, no risk for violence against the bank personnel. You get your internet banking login details and now it’s up to you to secure your details.
Your salary, your money, your funds are now numbers on a screen.
So in fact – your money has now become VIRTUAL! You never touch it.
You only move it to pay your bills, or to pay for products by using the bank issued card to buy your groceries.
In fact – your bank doesn’t even want your “paper money” or coins any more.
Now – how does the money trading market affect you and your funds?
Between 1870 and 1914, there was a global fixed exchange rate.Currencies were linked to gold, meaning that the value of a local currency was fixed at a set exchange rate to gold ounces, the Gold standard. This ended with the start of World War I.
You can find loads of info on Internet about the Foreign Exchange Market (Forex), Floating rates, Fixed(pegged) rates, the International Monetary Fund, Central banks etc.. and it’s too complex to explain in a few words…
However – as the internet makes us more aware of what’s going on in our world – it’s apparent that Banks are not stable any more. Economic crisis makes head lines in News, and News papers almost every day.
To me all this reading leads to one question.
Why don’t we create a currency that can be used all over the world, with no risk of devaluation, with a stable exchange rate, which can be used all over the world for every need we have?
There is one already created. It’s named Compuceeds!
Read more about Compuceeds at www.compumatrix.ph/