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Author Topic: brazil's inflation history & the solution  (Read 1499 times)
paulie_w
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May 15, 2011, 07:38:05 PM
 #1

so i was just listening to this:

http://www.thisamericanlife.org/radio-archives/episode/423/the-invention-of-money

and they talked about brazil's inflation problems years back, and how a virtual currency was implemented to combat it.

is there some situation, somewhere in the world, where bitcoin could somehow be employed to come to the rescue of a country's inflationary problems, having the side-benefit of massively legitimizing it in one big swoop?

some history of the aforementioned here:

https://secure.wikimedia.org/wikipedia/en/wiki/Brazilian_real
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May 15, 2011, 08:14:06 PM
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Know that what really made it work, was not the existence of virtual currency (that many people ahted), but the use of USD as stable currency...

During 1993 we handled USD in day-to-day basis, I have several toys (back in 1993 I was a kid) that I know their prices only in USD. Also some other equipment (a kickass analogic video camera, that I think was bought for 8000 USD or something like that...).

Then when Real was introduced, it was locked to USD in 1:1

After some time, it got unlocked from USD because USD was having problems itself... But it kinda worked.

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May 15, 2011, 08:20:13 PM
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Bitcoin might save the people, but it won't save the corrupt system. The first to let that system go will be the winners. I hope it's the common people. I hope the elites persist in denial.

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