Wilshire@lemmy.world to Not The Onion@lemmy.worldEnglish · edit-21 year agoRussia says it will halt foreign currency purchases and launch a digital ruble to keep the currency from spiraling furtherfinance.yahoo.comexternal-linkmessage-square16fedilinkarrow-up1104arrow-down14file-text
arrow-up1100arrow-down1external-linkRussia says it will halt foreign currency purchases and launch a digital ruble to keep the currency from spiraling furtherfinance.yahoo.comWilshire@lemmy.world to Not The Onion@lemmy.worldEnglish · edit-21 year agomessage-square16fedilinkfile-text
minus-squareazimir@lemmy.mllinkfedilinkEnglisharrow-up36·1 year agoA digital Ruble means that they don’t even need to physically print more bills to further devalue their currency. Now they can just either add to a database column or stick a few more blocks on a block chain. Free money!
minus-squarewhats_a_refoogee@sh.itjust.workslinkfedilinkEnglisharrow-up15·1 year agoMost money is already digital. There isn’t a paper bill backing every dollar, far from it. No doubt it was the same in Russia.
minus-squarerockerface 🇺🇦@lemm.eelinkfedilinkEnglisharrow-up9·1 year agoToilet paper demand is going to skyrocket
minus-squareafraid_of_zombies@lemmy.worldlinkfedilinkEnglisharrow-up6·1 year agoAlso means that a black market is more difficult. If the various LEOs had their way all money would be digital. As the currency falls people will start rejecting it. It is either Inflation, scary levels Price controls which will lead to shortages Transactions being completed in an illegal currency such as Euros or USD End the fucking war, rejoin the human race, and hope that you will he forgiven despite not being worthy of it.
A digital Ruble means that they don’t even need to physically print more bills to further devalue their currency. Now they can just either add to a database column or stick a few more blocks on a block chain. Free money!
Most money is already digital. There isn’t a paper bill backing every dollar, far from it. No doubt it was the same in Russia.
Toilet paper demand is going to skyrocket
Also means that a black market is more difficult. If the various LEOs had their way all money would be digital.
As the currency falls people will start rejecting it. It is either
Inflation, scary levels
Price controls which will lead to shortages
Transactions being completed in an illegal currency such as Euros or USD
End the fucking war, rejoin the human race, and hope that you will he forgiven despite not being worthy of it.