Question: Hyperinflated USD might actually be happening now. Is there a contingency plan?

MsPudding

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Core inflation rates for the U.S. recently:

2017: 1.8%
2018: 2.2%
2019: 2.3%
2020: 1.6%
2021: 1.4%

The core inflation rate gives you a better read on the long run trend of inflation because it does not include volatile items like food and fuel.

It will be interesting to see just what this rate does over the next couple of years.
 

Mega

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Lets get back to basics.


  • Medium of exchange
  • Measure of value
  • Standard of deferred payment
  • Store of value

Until Bitcoin and the other 'wannabe' crypto's fit all the above criteria for everyone, it'll remain niche payment method useful for buying contraband but
wont go mainstream.


It will also be helpful if you cant bin 7500 of them accidentally on an old laptop as well! :banghead:
 

Xen

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gettin closer: https://litecoin.getblockcard.com/

also the contraband thing is a myth yo - anonymity in cryptocoins is difficult
I don't know a lot about this, but couldn't MA at least create a PEDcoin stable coin pegged to the USD to make deposits and withdraws instant and not have to worry about chargebacks? I think if players knew they could get their money back out of the game quickly it would increase the amount of money in game.
 

MrFatBoy

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i hate to say this but for years and years and years i hear people say is "if MA did this than this game will be...." "this will bring in more players" or a myriad of 100's of other ideas - a lot are good and valid ideas and might even work.

But get over it MA is not going to do anything different that basically milk the cows... period.

They only rush to implement things they can sell to the believers that say "one day - one day it will happen" and then take their money and say ok we will implement it soon - How many things like this over the last decade lol

They cant even put names on a statue in a game you think they are going to adopt Crypto ? Maybe if they can find a way to over charge the players then it will happen tomorrow.

sorry but its true imo
 

raulpon

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I don't know a lot about this, but couldn't MA at least create a PEDcoin stable coin pegged to the USD to make deposits and withdraws instant and not have to worry about chargebacks? I think if players knew they could get their money back out of the game quickly it would increase the amount of money in game.
MA does not want more players. We have horrible latency and lag events now with few k players.

Double or triple the playerbase and servers will be more down than up.

Double or triple the addicts losing on EP4 and you are bound to have more interested from government or someone going charlie hebdo on your office.

Current situations is fine.
 

Aloisius

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MA does not want more players. We have horrible latency and lag events now with few k players.

Double or triple the playerbase and servers will be more down than up.

Double or triple the addicts losing on EP4 and you are bound to have more interested from government or someone going charlie hebdo on your office.

Current situations is fine.
You nailed it here - MA should dedicate a big team to solving this problem. We can all talk up a storm about all the things they could do to make the universe great but ultimately it's about changing their minds - like lotus to oracle level mind change event.

I imagine it would have to be something like India taking over Sweden and making it illegal to milk cash cows!
 

Msturlese

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I work in financial markets since 1994 the mantra of Hyperinflation (spectre of Weimar republic and Zimbabwe) once and then run thorugh the land
generally speaking a band for dollar against EUR is from 0.90 to 1.20.... over those parameters competition of nation is negative to USA
being European central bank bound to different rules, old FED can control money supply for the old continent too.

That said, a Hyperinflated dollar (lets limit to ? 5 dollar per EUR? ) would make me more than happy. i could buy 500 ped for 100 EURO
something worse could be for MA.... his 70m ped would not be 7m EUR anymore but 2.5m so the 46 ppl staff either would be switched
to 3rd world staff (maybe are better CRM and Developers who know) or servers go down.

with a dollar at 5 per eur i would be more busy to buy wood to barricade my windows than caring of Ped value tho....i :)
 
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Naomi

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Currently in the VS prices of many assets are soaring. Many ppl realize what is happening and prefer to exchange there USD for, for instance, used cars, supplies, etc. In times of long term deflation with short term inflation, It's often more interesting to hold REAL assets, rather then ma currency that is loosing its buying power FAST.
 

The MeanMachine

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Well as i see it currently Entropia is atractive since dollar is low at the moment it will pick up next few months really strong since USA is one of the most vacinated countrys in the world like 150 milion now which is just crazy. The demand for the domestic currency their dollar will increase 20 30 % i strongly belive and i study finance so mark my words dollar will go up in near term next few months. And other countrys that are behined vacination will have to print more money later on while US is allready fully vacinated.
 

The MeanMachine

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Central bank has the killer tool of the inflation which is interest rate so they will just do that late 2022 or beginning of 2023.
 

Kerham

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I don't know a lot about this, but couldn't MA at least create a PEDcoin stable coin pegged to the USD to make deposits and withdraws instant and not have to worry about chargebacks? I think if players knew they could get their money back out of the game quickly it would increase the amount of money in game.
On one side, they did tried this with those atm cards if you remember, but you can't walk just like that in the financial ecosystem, there are rules to be respected.
On the other side, there was this video (iirc) presentation/interview with the latest CEO and his wording was pretty specific: we're a niche company and we're fine with it. It's entirely possible for them to simply not be interested in a too big playerbase, maybe logistics or who knows. They could have arranged for example something with Steam or other platform, a simple shortcut there to get some exposure. Maybe they're not done with designing this 2.0 concept and not ready to scale it, who knows.
 

Aloisius

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Oya I remember - and this is the reason I'm ticked off about them forgetting about crypto. There are so many exchanges now offering debit cards. All around the world. Do you remember when they introduced banks into the game - they 100% had a plan to make PEDs useful and spendable. But when the government told them not to they couldn't unsell the banks, but the card development was removed and forgotten. And the banks!! I can't believe how bad of a deal they got. Four ingame pawnshops. They could reignite this very dream but they don't even remember it. As for scaling chances of that were gone with the dream.
 

Kerham

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Problem with crypto is that is too volatile. An option would be to develop their own crypto, but that has to do something, beyond PED. The volume offered by the playerbase itself (and only a fraction would go into it anyway, I wouldn't) can't support a competitive coin.
 

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Is there a chance that inflation outside of the game would cause asset value within the game to float with inflation.

So while the ped on our cards mirrors real life and has less buying power. But our assets will increase in ped value due to an increased availability of weak usd exchanged for ped.

apologies if this has already been covered
 

Rumsponge

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Ok, I’m confused… Is the hyperinflation happening in June 2020 or 2021? Should I be stockpiling Spam and peanut butter? Did I miss my chance?
 

Aloisius

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Is there a chance that inflation outside of the game would cause asset value within the game to float with inflation.

So while the ped on our cards mirrors real life and has less buying power. But our assets will increase in ped value due to an increased availability of weak usd exchanged for ped.

apologies if this has already been covered
Right, this is how a person would hope it worked. In the real world hedging against inflation is easy. Just buy gold, silver, real estate, crypto. But that's not what happens with the game as I see it, hence the OP. Some the items in game have a fixed PED value.

No one has said anything about this. Of course, inflation/hyperinflation really is now underway and no one at MA even knows it's coming let alone what to do. Or do they? G Edward Griffin says it right - most people are just wondering what will happen next.
 

NevadaJake

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We are seeing some steep in-game price increases. Perhaps due to more covid players., Perhaps due to inflation. Right now is a good time to hang onto your CLDs, they are only going up in value for the time being.
 

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We are seeing some steep in-game price increases. Perhaps due to more covid players., Perhaps due to inflation. Right now is a good time to hang onto your CLDs, they are only going up in value for the time being.
the TT machine telling me the CLD is worth 0.00 PEDs. So perhaps its worth to hold into it :/
 

Xen

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Problem with crypto is that is too volatile. An option would be to develop their own crypto, but that has to do something, beyond PED. The volume offered by the playerbase itself (and only a fraction would go into it anyway, I wouldn't) can't support a competitive coin.
Does it have to do something other than be pegged to the dollar? What does USDC do?
 

Kerham

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Does it have to do something other than be pegged to the dollar? What does USDC do?
USDC is a stablecoin, is backed by assets in an open, transparrent manner.

The backing of our hypothetical crypto would be PED itself which is an isolated market, 100% subject to MA's whim, beyond any kind of audit or transparency. PED can be created with a button, whereas backing assets are the opposite. Say you put your house, as an example, as a backing asset, altho is a childish example. Say a market value of 300k USD. Now if next year that house would be 400k USD, then the minimum total (potential) value of respective crypto mass would change from 300k to 400k USD. In other words, 3rd interested parties could somehow evaluate your coin and trust it because there is something behind.

There is nobody else in the world using or recognizing PED. PED itself in its economic life has no business with USD, that is only the promise of MA to oversee a balance. Me finding right now an ample deposit of 11 PEDs has no impact, not even at an atomic scale, on USD. It is only if I would withdraw those 11 PEDs that there would be an interaction. Whereas the businesses using USDC can just aswell use USD, they exist, they have and make tangible value somehow, be them products or services or whatnot. So a, say, Chinese manufactory dropping overnight 10M electric cars on US market, that will impact USD (and consequentally USDC) to some extent.

That for stablecoins, they're not an option until MA would be at the very least public if not outright step into the financial world, with all manner of implications (subject your fugabarba hunts to form number X100something from IRS for an extreme example), and then there would not be any need anymore for a crypto intermediary, PED itself would have this role.

The alternative, the volatile ones, would mean to breach the fundamental contract that 10 PED = 1 USD and subject it to extreme waves, such as bitcoin market is seeing almost yearly. Bitcoin itself doesn't do much, but there's the advantage of being the pioneer. Ethereum is a platform itself for other projects (and the very existence of said projects give value to Eth). Ripple is heavily involved with logistics world and somehow wishing to compete SWIFT (but the wiki is a good read on the challenges of crypto in general) etc A crypto for PED would need to offer some form of service to the outer world in order to exist, to have any meaning. Why would your bank or the donner from the corner would accept this crypto, beside its simple existence.

So to say, if were to use this crypto technology, the process should be reset from the beginning, namely a game to be created from the ground up which to have in its very functionality the "mining" for respective crypto through various actions in the respective universe.

Then there should be a mean to make the whole process transparent, which is (1) fundamental to crypto (2) completely opposite to how PED and MA work.

Then there should be, as said above, a sort of platform for something exterior, such as to give a refference for an eventual USD (variable) rate. Arbitrary example, a registry for lohn operations/sales in textile industry. And then the game would be what miners were/are for bitcoin, and the textile industry would be the actual IRL market whcih to give actual value, beyond wishful thinking.

The whole catch to PED is that is not really pegged to USD, but to SEK. And is not pegged per se, there is no PED asset (say LA40), but MAs assets (servers, eventual real estate etc) which are fundamentally SEK. That's where MA's business functions, on USD-SEK exchange rate. What they balance is the in- and out- flow of USD, hence liquid PED is an accounting liability and everything else is players' trust between each other and the universe itself (potential value, investment decisions, perceived potential profitability etc).
 

Aloisius

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:dunno:Just like my head exploded from reading that - the economy is next!! 💥
 

Kerham

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That's only because I am not capable of writing on-point concise answer and I am going all over the place with all kind of stuff. apologies. Wash properly keyboard, remove traces of brain :p :D
 

Xen

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Couldn't MA just use USDC instead of USD then? And if they used USDC instead of PED they/we would get all the benefits of blockchain and the block ledger?
 

Aloisius

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Couldn't MA just use USDC instead of USD then? And if they used USDC instead of PED they/we would get all the benefits of blockchain and the block ledger?
Maybe, but that doesn't help with the inflating USD and possibly soon to be hyperinflating. Rumor has it the end of USD altogether is in the works. Possibly as soon as the 26th of May...
 

Aloisius

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