Yeah, gemstones being used as secondary currency in mlp always confused me too. But in real life throughout history gems were used as currency even before coins were invented, Hell even when gold and silver were first being used as a form of payment they weren't always coins they were just random fragments and nuggets of metal.
It's never said to be a secondary currency. It's a commodity. Commodities vary in value. IT's the same as if you offered to pay someone in rice... they're free to accept it based off how much rice is worth.
The most interesting part of this video is the fact that all ponies are canonically British! XD I think the reason it's okay for dragons to eat crystals is because they are less of a currency, and more of a commodity. Before currency, people would trade commodities such as tools in exchange for food. I think gems are just seen as more valuable than bits in most cases, so ponies are willing to accept them as currency because it's sort of the equivalent of someone purchasing something using gold coins. Now, stores would not normally accept gold coins as payment, but if they did they would just assume the gold is worth more than the price listed for the product the individual is purchasing. I think since most businesses in Equestria seem to be small and run by either a single individual or a small team, they are more willing to accept gems as payment. I mean- if I were running a small store selling French Toast and someone offered to pay with a gold bar instead of cash, I would take the gold in a heartbeat not knowing what it's exact worth is, but knowing that it is worth more than the price of the French Toast I am selling.
I haven't watched your videos in a while. It's nice to be back among the brony nation. So Spike and Rarity are the reason things will come crumbling down.
I always assumed crystals weren't actually currency, they were just accepted as payment the same way a gold watch might be. And since they're probably more rare in a place like Ponyville than the crystal empire (or at least, they WERE), the demand was high enough that it was accepted as payment/bribes
So King Sombra summoning Crystal in the throne room back in S9 EP2 was an attention to save Equestria from a financial crisis? He really does a good heart after all beyond that taking over Equestria.
As someone who's writing horse words for fun, recently rewatching _Just For Sidekicks_ for research broke my goddamn mind regarding how Equestria views jewels as currency/dragon food/fashion accessory. Good to know that ultimately that my decision concerning bits to _'ennnhhh,_ throw in some numbers that look right' is canonical correct.
I can remember when Doc Anubis did a similar vid on the concept of Equestrian currency, And honestly to this day i still think it's too bad they never did a G4 episode about the Mane 6 explaining how the economy and the value of bits works in Equestria, Because it raises questions like how many bits does the average Equestrian citizen make per year? and Why do the neighboring kingdoms use Equestrian bits as currency when you would think that they would have their own forms of currency?
To be fair, I think the only country we've seen use bits (other than Equestria itself) is Griffonstone, which is a nation that has pretty much completely collapsed and it makes sense that they'd abandon their own currency for a neighboring nation's if their economy was going to shit.
The Gryphon empire is a broken and failed state. It is VERY common to use stronger foreign currencies in that case (Lebanon of late does exactly that). Even successful countries (used to) stock up on US dollars.
Probably crystals being so common in Equestria and food for Dragons means they aren't worth that much and/or the bit is super valueable and that it's because it's used in other countries like dollars in poor nations
Ban ❤'s Rarity inflation?!? I can't believe you done this... D: Great video as usual, Professor! Always asking and answering the hard questions like only a blue horse can do :)
Thanks, Space! I was tempted to add a "search Rarity Inflation for more info" joke, but thinking about it for a while, I was convinced that would be too TERRIBLE even for me. My research also taught me I should apparently go into the granite business. 😎
Rarity would actually deflate the price of gems, by inflating their availability, just like a gold miner. You can pay for stuff with gems in real life too, if the seller agrees.
Yep. Yeah. Not to mention that Discord can also destroy the economy with a snap of his fingers. (Discordant Harmony: Here's a thousand bits for a tea set!)
It's surprising how many things are / have been named "Blue Horse" - thanks Google. I'm just old enough to have been around before another Blue Horse went out of business - one that sold school supplies, especially notebook paper. What sticks out about them is you could collect the proof of purchase logos from the supplies and send in for prizes. Mostly cheap toys, but even a bike if you send in some ridiculous amount of them.
One moment please, a gem maybe valued as an alternative currency not for their material rarity but for their magical utility with each gem type having unique magical utility
Reminds me of that scene from Oklahoma, where Jedd keeps interrupting the bidding with "and two bits!". Upon asking it turned out a bit was half a quarter, or 12.5 cents. Maud Pie mentions that some crystals are fairly common, thus some are not common, thus not all crystals are created equal. Thus I propose that those crystals that are found commonly CANNOT be used as a measure of value against the bit. That... would simplify trying to evaluate the bit significantly. Still stinking hard though.
Ironically, the attempts at governmental interference in the economy and the value of both bits and crystals caused a far worse financial crisis than what would have happened if the government hadn't interfered. But, you know, magical equines, so they fixed it, somehow. If only we had the unicorn farts and pixie dust that politicians so often promise us, before spitefully reversing ALL the good policies and tanking the economy, while at the same time getting cheered for "saving the economy from the worse collapse if they hadn't interfered", because they say so, on authority of they say so, because "THE ADULTS ARE IN CHARGE NOW!", which is said while mocking the other side in the most juvenile and childish way.
"King Midas' wet dream." You mean pre-Golden-Touch King Midas' wet dream, of course? I think the after-Golden-Touch Midas would find it to be a nightmare.
i don't think that crystals can affect the value of a bit, because the scarcity of a bit is independent from that of crystals. the value of a crystal (and the exchange rate) would fluctuate wildly but that's probably why bits are used more often.
Oh boy, I can only imagine how stocks work in equestria, if any. Let alone the Cantorlot city universe, I wonder if they have debit card or credit or other forms of currency or stocks and I can only imagine how that'll work 😅
Remember the scene where RainbowDash is going to buy a milkshake from the Cakes? She's carrying a single bit on her hoof as if to say, "I have precisely what I need to buy this product." I call foul on that! (For simplicity's sake.) The Cakes would need to charge a minimum of 4 bits for each of their products: One bit to cover the base cost. Two bits for State and Federal taxes- Mayors/Princesses gotta eat, too, after all. And a fourth bit to make a profit! In fact, if becoming a princess made Twilight an official part of the government, that would raise the cost of everything in Ponyville by, at least, another bit! And she's not using the school for profit since she scolded the FlimFlam brothers for doing that very thing! In fact, in fact, unless they're working for free, the taxes in Ponyville just went up one bit per teacher! Unless Celestia is paying for everything for Twilight since she's the only one without an obvious job (Everyone assumes she is the librarian of the Ponyvillie library, but I've never seen anypony check anything out!), then while initial taxes in Ponyville didn't go up when Twilight became a princess, taxes all over Equestria *did* when the school opened!
If we assume that gems are somewhat similar to gems in the real world then there's no reason to assume they're all of equal value. A diamond and a piece of quartz may look similar at first glance but only one if them could be used to convince a taxi driver to take you home at 4am when you've list your wallet. With that in mind the castle and the buildings in the crystal empire could be made of very common, low value crystals, which wouldn't affect the value of things like diamonds, rubies and emeralds. As for the value of a Bit, that's tricky, because we can't assume that four legged sometimes magical beings that rarely wear clothes and are ad a whole vegetarian would give different goods and services the same relative values we do. In fact, we don't give consistent relative values to things. 'Exotic' foods are usually more expensive, but what counts as exotic varies from country to country and decade to decade. Is asparagus expensive? Are tomatoes expensive? Depends where in the world you live.
And I was Thinking, that Gems in Equestrian are used Like Check Books. And Check this. Silver Bits Equal to Cents And Gold Bits Equal to Dollars. And Gems Equal to Something Bigger then Dollar. But Gems sometimes Still used As Check Books. And Sometimes Not Accepted in Some places.
I have some thoughts on this! Since ponies are herbivorus animals they can eat GRASS, which means even a pony that has zero money can get on pretty well without money. Also they don't wear clothes so they don't need to spend money on that either. So maybe since their basic needs do not depend on money they have an entirely different understanding of the value of money and gems. Someone stole your lunch money? You can just go outside and graze. Don't have a bit to buy new clothes? Well... even the queen of fashion (Rarity) doesn't usually wear clothes so you'll be fine. It seems to me that real estate market is also nonexistent in this world, if you find a free piece of land, you can claim it to be yours and build a house on it (see: s01e21 Over a Barrel or the fact that when Twilight's castle emerged from the ground nopony was complaining about it taking their land), so they don't need money for housing either (maybe only for the building, but hey, you can just call your friends and family and build a new barn in a day like the Apples do).
Bits are coins. If you have a certain amount it turns into cash. You have 2 bits, 4 bits, 6 bits and a dollar shout out and holler. It's a rhyme I remember hearing when I was younger. I don't know if it really means anything. But I sure hope it does. Yeah gems 💎 having value and be used as bits makes a lot of sense. The value to bits is very confusing I know. Sometimes I don't even understand it myself. I don't think it has anything to do with any country. Even though I know other countries like England, Britain and Ireland call their coins bits. Apparently Bits originated from Mexico they also call them Pesos.
as long as we dont know what the crystals from the crystal empire and twilights crystal castle are made of, the comparison of those crystals to the gems used as currency isnt a fair one. while a gem is always a crystal, a crystal is not always a gem. In theorie twilights crystal castle and/or the crystal empire & crystal ponies could just be made out of (table) salt or sugar (... dont tell that pinkie pie, we dont want her to try to find out); which would still mean they're in the crystaline categorie, but not a gem
I think the griffons using bits is less a matter of the bit being an international currency and more a matter of the Griffonstone economy being in shambles. they use the bit because its a stable currency, much like how nations here on Earth peg their currency to the U.S. dollar.
I have 2,000 bits but sadly am not going to convert that. Because first of all that is private. Second of all that is considered as rude. Third of all that is between me and my family. I just wanted to let you know that I have 2,000Bits. I know that's not much. Theirs more bits than that. My family has more bits than I do. Yet we still plow rocks a lot.
1 Gem is a bit. 5 gems is 5 bits. 10 gems is 10 bits 50 gems is 50 bits 100 gems is 100 bits 500 gems is 500 bits 1,000 gems is 1,000 bits Gems to bits. I would hope so that this is correct.
Think of gems like of gold. Is it expensive? Yes. Will private business owners accept it as a payment? Most of the time! can it be eaten\devoured\defaced or whatever? Yes it can. Can it be found in the ground, including by private faces? Sure it can! There are really a lot of reasons why things like gems would perfectly coincide with currency in fantasy environment. Do account for crystals being substantially cheaper than gold. Think of them like of truffles, but only edible by one race, also known for their power and affinity for wealth, as well as ability to literally swim in lava. So crystals are easily explained by existence of armies of dragon smiths singlehandedly bringing iron age to Equestria, all in exchange for, basically, food. The fact crystal empire and Twilight`s Castle didn't get invaded and fckn eaten is strange though.
Crystals are so common, but tedious to find in quantity and the quality for payment. So Rarity's gem piles are all decorative quality, but not monetary quality. Dragons also don't buy a lot and live without a lot of luxuries, so they have their own supply of crystals. It's also pretty obvious that Equestria and neighboring countries (pun intended) have a stable free market that self corrects when needed, and the Princesses are smart enough to NOT use government power to interfere in the market, preventing regulatory unintended consequences from causing a worse fiscal crisis than just letting the market work freely... like free markets are supposed to. Also, they can't have fiscal implosion THAT close. They don't have the Biden Administration in charge, making all the wrong decisions.
For a sec I thought it’s gonna be like those other videos talking about it’s Total Worth. But seems it dives deeper into the currency idea, btw, very entertaining video👌❤️🔥
Rarity using gems to make clothes to make money is such a power play with this perspective
Rarity is probably also using low value but flashy gems too, raising the value of otherwise common gems.
So ponies bury gems
so "All ponies are BRITISH"... no wonder celestia loves tea, she's a freaking queen fr
Wenigstens sind Ponys keine Franzosen, das wäre ja noch schlimmer.
Yeah, gemstones being used as secondary currency in mlp always confused me too. But in real life throughout history gems were used as currency even before coins were invented, Hell even when gold and silver were first being used as a form of payment they weren't always coins they were just random fragments and nuggets of metal.
The rare fire ruby from that one Spike episode points to crystals varying in value, with most being common pretty rocks.
It's never said to be a secondary currency. It's a commodity. Commodities vary in value. IT's the same as if you offered to pay someone in rice... they're free to accept it based off how much rice is worth.
The most interesting part of this video is the fact that all ponies are canonically British! XD
I think the reason it's okay for dragons to eat crystals is because they are less of a currency, and more of a commodity.
Before currency, people would trade commodities such as tools in exchange for food. I think gems are just seen as more valuable than bits in most cases, so ponies are willing to accept them as currency because it's sort of the equivalent of someone purchasing something using gold coins. Now, stores would not normally accept gold coins as payment, but if they did they would just assume the gold is worth more than the price listed for the product the individual is purchasing.
I think since most businesses in Equestria seem to be small and run by either a single individual or a small team, they are more willing to accept gems as payment. I mean- if I were running a small store selling French Toast and someone offered to pay with a gold bar instead of cash, I would take the gold in a heartbeat not knowing what it's exact worth is, but knowing that it is worth more than the price of the French Toast I am selling.
So that's what happened to Equestria between g4 and g5
I love the image of the three gears that are clearly grinding representing functionality. Yep, it do be like that!
OMFG I LOVED THE DICTIONARY JUST FLYING BACK UP TO YOUR HAND FROM THE TRASH. THAT IS ACTUALLY HILARIOUS 😂
"Do not take that out've context." gives it a new context.
4:27 Derpibooru filter: (Everything)
I haven't watched your videos in a while. It's nice to be back among the brony nation.
So Spike and Rarity are the reason things will come crumbling down.
Oh my god, you're right. That didn't even cross my mind. XD
I always assumed crystals weren't actually currency, they were just accepted as payment the same way a gold watch might be. And since they're probably more rare in a place like Ponyville than the crystal empire (or at least, they WERE), the demand was high enough that it was accepted as payment/bribes
^ GOLD STAR. Not sure if the video maker doesn't realize this, or if that's meant to be part of the joke.
So King Sombra summoning Crystal in the throne room back in S9 EP2 was an attention to save Equestria from a financial crisis?
He really does a good heart after all beyond that taking over Equestria.
As someone who's writing horse words for fun, recently rewatching _Just For Sidekicks_ for research broke my goddamn mind regarding how Equestria views jewels as currency/dragon food/fashion accessory. Good to know that ultimately that my decision concerning bits to _'ennnhhh,_ throw in some numbers that look right' is canonical correct.
I thought gemstones were either a commodity currency or were being used for bartering when we saw them.
You'd be right. And sadly this joke video has made everyone understand even less about economics.
I can remember when Doc Anubis did a similar vid on the concept of Equestrian currency, And honestly to this day i still think it's too bad they never did a G4 episode about the Mane 6 explaining how the economy and the value of bits works in Equestria, Because it raises questions like how many bits does the average Equestrian citizen make per year? and Why do the neighboring kingdoms use Equestrian bits as currency when you would think that they would have their own forms of currency?
So truuuuue. Also, Doc and Star used facts and logic in their well thought out video. I used paranoia and delusion :))))
To be fair, I think the only country we've seen use bits (other than Equestria itself) is Griffonstone, which is a nation that has pretty much completely collapsed and it makes sense that they'd abandon their own currency for a neighboring nation's if their economy was going to shit.
@@anerdwithaswitch9686 isn't bits basically coins? And griffons loves gold. 🪙
The Gryphon empire is a broken and failed state. It is VERY common to use stronger foreign currencies in that case (Lebanon of late does exactly that). Even successful countries (used to) stock up on US dollars.
i still cant fathom how they didnt name the currency of the show that takes place in EQUESTRIA, called my little PONY , "bucks"
Probably crystals being so common in Equestria and food for Dragons means they aren't worth that much and/or the bit is super valueable and that it's because it's used in other countries like dollars in poor nations
"In that no one has any fucking idea" made me laugh harder than i have in the past year (365 days)
That's why smart horses use bottle cap currency. 😋
Ban ❤'s Rarity inflation?!? I can't believe you done this... D:
Great video as usual, Professor! Always asking and answering the hard questions like only a blue horse can do :)
Thanks, Space! I was tempted to add a "search Rarity Inflation for more info" joke, but thinking about it for a while, I was convinced that would be too TERRIBLE even for me. My research also taught me I should apparently go into the granite business. 😎
Rarity would actually deflate the price of gems, by inflating their availability, just like a gold miner. You can pay for stuff with gems in real life too, if the seller agrees.
This video easily won me a subscription to you, if I wasn't already subscribed. But wow I loved the work and humor done on this!
"All Bronies are conically British"
Guess I have to burn my plushies now.
We can't let it spread
A bit is the smallest unit of information, commonly used in computers and electronics by representing it by either a high or low voltage.
Next video: "What Are Mare Bits?"
And.... you earned a SUB. Great work!
Yep. Yeah.
Not to mention that Discord can also destroy the economy with a snap of his fingers.
(Discordant Harmony: Here's a thousand bits for a tea set!)
Fun fact : in call of the Cutie when Apple bloom tries to sell apples she says " we take cash or credit"
It's surprising how many things are / have been named "Blue Horse" - thanks Google. I'm just old enough to have been around before another Blue Horse went out of business - one that sold school supplies, especially notebook paper. What sticks out about them is you could collect the proof of purchase logos from the supplies and send in for prizes. Mostly cheap toys, but even a bike if you send in some ridiculous amount of them.
One moment please, a gem maybe valued as an alternative currency not for their material rarity but for their magical utility with each gem type having unique magical utility
Reminds me of that scene from Oklahoma, where Jedd keeps interrupting the bidding with "and two bits!". Upon asking it turned out a bit was half a quarter, or 12.5 cents.
Maud Pie mentions that some crystals are fairly common, thus some are not common, thus not all crystals are created equal. Thus I propose that those crystals that are found commonly CANNOT be used as a measure of value against the bit.
That... would simplify trying to evaluate the bit significantly. Still stinking hard though.
Reject coin made of gold.
Embrace crystals.
You actually got a point on the money thing problem😂 6:24
Ironically, the attempts at governmental interference in the economy and the value of both bits and crystals caused a far worse financial crisis than what would have happened if the government hadn't interfered.
But, you know, magical equines, so they fixed it, somehow.
If only we had the unicorn farts and pixie dust that politicians so often promise us, before spitefully reversing ALL the good policies and tanking the economy, while at the same time getting cheered for "saving the economy from the worse collapse if they hadn't interfered", because they say so, on authority of they say so, because "THE ADULTS ARE IN CHARGE NOW!", which is said while mocking the other side in the most juvenile and childish way.
Gen5 isn't the result of a magical catastrophe, it just turns out horses can't do economics
I like this video
me when the pastel horse cartoon horse show uses currency (this implies the existence of the poverty line within equestria)
In all fairness, food literally grows everywhere most of the year, so it's only storing up for winter that's a worry.
Huh. So that's what happened between gen 4 and gen 5.
Absolute economic collapse.
And massive worldwide stupid.
Fashion horse is the queen of inflation?
Sweet baby Jesus, I need to use that in a story!
"King Midas' wet dream."
You mean pre-Golden-Touch King Midas' wet dream, of course? I think the after-Golden-Touch Midas would find it to be a nightmare.
A bit is 1/8 of a dollar. 2 bits is a quarter (and a common cost for a haircut in the old west, hence "shave and a haircut, 2 bits!")
Ah yes my favorite currency for a 🐴. Cheddar 🧀✨
i don't think that crystals can affect the value of a bit, because the scarcity of a bit is independent from that of crystals. the value of a crystal (and the exchange rate) would fluctuate wildly but that's probably why bits are used more often.
8 bits is one byte
So, how many people have done their own theories on the value of bits, at this point? I can recount at least three theories over the past year alone.
The ponies are 🅱️ri'ish 🤯
Great Depression equestria at war moment
Oh boy, I can only imagine how stocks work in equestria, if any.
Let alone the Cantorlot city universe, I wonder if they have debit card or credit or other forms of currency or stocks and I can only imagine how that'll work 😅
Awesome
Equestria runs on a monarchy and colonizes all the non ponies in the world in the name of friendship.
Of course they are british
Remember the scene where RainbowDash is going to buy a milkshake from the Cakes? She's carrying a single bit on her hoof as if to say, "I have precisely what I need to buy this product."
I call foul on that! (For simplicity's sake.) The Cakes would need to charge a minimum of 4 bits for each of their products: One bit to cover the base cost. Two bits for State and Federal taxes- Mayors/Princesses gotta eat, too, after all. And a fourth bit to make a profit!
In fact, if becoming a princess made Twilight an official part of the government, that would raise the cost of everything in Ponyville by, at least, another bit! And she's not using the school for profit since she scolded the FlimFlam brothers for doing that very thing!
In fact, in fact, unless they're working for free, the taxes in Ponyville just went up one bit per teacher! Unless Celestia is paying for everything for Twilight since she's the only one without an obvious job (Everyone assumes she is the librarian of the Ponyvillie library, but I've never seen anypony check anything out!), then while initial taxes in Ponyville didn't go up when Twilight became a princess, taxes all over Equestria *did* when the school opened!
I wonder what money tastes like now...
If we assume that gems are somewhat similar to gems in the real world then there's no reason to assume they're all of equal value. A diamond and a piece of quartz may look similar at first glance but only one if them could be used to convince a taxi driver to take you home at 4am when you've list your wallet.
With that in mind the castle and the buildings in the crystal empire could be made of very common, low value crystals, which wouldn't affect the value of things like diamonds, rubies and emeralds.
As for the value of a Bit, that's tricky, because we can't assume that four legged sometimes magical beings that rarely wear clothes and are ad a whole vegetarian would give different goods and services the same relative values we do.
In fact, we don't give consistent relative values to things. 'Exotic' foods are usually more expensive, but what counts as exotic varies from country to country and decade to decade.
Is asparagus expensive? Are tomatoes expensive? Depends where in the world you live.
My nickname must be Pink Horse. Get it because I'm a pink pony. And no wonder why everypony calls me Pinkie Pie.
A Bit is, um... "a bit of gold"?
And I was Thinking, that
Gems in Equestrian are used
Like Check Books.
And Check this.
Silver Bits Equal to Cents
And Gold Bits Equal to Dollars.
And Gems Equal to Something
Bigger then Dollar. But
Gems sometimes Still used
As Check Books. And
Sometimes Not Accepted in
Some places.
God Save the Ponies.
"Fashion horse is also queen of inflation"- ok... I'm done... thank you
I would've just said it's a gold coin.
The bitcoin thing makes since now
A bit of theory video.
I have some thoughts on this! Since ponies are herbivorus animals they can eat GRASS, which means even a pony that has zero money can get on pretty well without money. Also they don't wear clothes so they don't need to spend money on that either. So maybe since their basic needs do not depend on money they have an entirely different understanding of the value of money and gems. Someone stole your lunch money? You can just go outside and graze. Don't have a bit to buy new clothes? Well... even the queen of fashion (Rarity) doesn't usually wear clothes so you'll be fine.
It seems to me that real estate market is also nonexistent in this world, if you find a free piece of land, you can claim it to be yours and build a house on it (see: s01e21 Over a Barrel or the fact that when Twilight's castle emerged from the ground nopony was complaining about it taking their land), so they don't need money for housing either (maybe only for the building, but hey, you can just call your friends and family and build a new barn in a day like the Apples do).
NOOOOOOOOO THEY BRI'ISH
But.... Crystals aren't protected under currency laws....
Interesting
4:29 Too bad I'm into that... lol
Bits are coins. If you have a certain amount it turns into cash. You have 2 bits, 4 bits, 6 bits and a dollar shout out and holler. It's a rhyme I remember hearing when I was younger. I don't know if it really means anything. But I sure hope it does. Yeah gems 💎 having value and be used as bits makes a lot of sense. The value to bits is very confusing I know. Sometimes I don't even understand it myself. I don't think it has anything to do with any country. Even though I know other countries like England, Britain and Ireland call their coins bits. Apparently Bits originated from Mexico they also call them Pesos.
i have 53k bits, so i should know this
Oh boy I can only imagine how the stocks work in equestria 🤔
Let alone the cantorlot city world. 🤔ᴴᴹᴹ
as long as we dont know what the crystals from the crystal empire and twilights crystal castle are made of, the comparison of those crystals to the gems used as currency isnt a fair one. while a gem is always a crystal, a crystal is not always a gem. In theorie twilights crystal castle and/or the crystal empire & crystal ponies could just be made out of (table) salt or sugar (... dont tell that pinkie pie, we dont want her to try to find out); which would still mean they're in the crystaline categorie, but not a gem
I think the griffons using bits is less a matter of the bit being an international currency and more a matter of the Griffonstone economy being in shambles. they use the bit because its a stable currency, much like how nations here on Earth peg their currency to the U.S. dollar.
I have 2,000 bits but sadly am not going to convert that. Because first of all that is private. Second of all that is considered as rude. Third of all that is between me and my family. I just wanted to let you know that I have 2,000Bits. I know that's not much. Theirs more bits than that. My family has more bits than I do. Yet we still plow rocks a lot.
1 Gem is a bit.
5 gems is 5 bits.
10 gems is 10 bits
50 gems is 50 bits
100 gems is 100 bits
500 gems is 500 bits
1,000 gems is 1,000 bits
Gems to bits.
I would hope so that this is correct.
0.5 bits is $0.11
1 bit is $0.22
5 bits is $1.12
10 bits is $2.24
50 bits is $11.22
100 bits is $22.44
500 bits is $112.21
1,000 bits is $224.43
Do you think bits are actual gold?
Think of gems like of gold. Is it expensive? Yes. Will private business owners accept it as a payment? Most of the time! can it be eaten\devoured\defaced or whatever? Yes it can. Can it be found in the ground, including by private faces? Sure it can!
There are really a lot of reasons why things like gems would perfectly coincide with currency in fantasy environment.
Do account for crystals being substantially cheaper than gold. Think of them like of truffles, but only edible by one race, also known for their power and affinity for wealth, as well as ability to literally swim in lava. So crystals are easily explained by existence of armies of dragon smiths singlehandedly bringing iron age to Equestria, all in exchange for, basically, food.
The fact crystal empire and Twilight`s Castle didn't get invaded and fckn eaten is strange though.
Sooooo…they use…bitcoins?
Bri'ish Applejack's a bit of a stretch ye? 😅
I`m the 69th like.. Feels weird but good at the same time. :`)
Crystals are so common, but tedious to find in quantity and the quality for payment. So Rarity's gem piles are all decorative quality, but not monetary quality.
Dragons also don't buy a lot and live without a lot of luxuries, so they have their own supply of crystals.
It's also pretty obvious that Equestria and neighboring countries (pun intended) have a stable free market that self corrects when needed, and the Princesses are smart enough to NOT use government power to interfere in the market, preventing regulatory unintended consequences from causing a worse fiscal crisis than just letting the market work freely... like free markets are supposed to.
Also, they can't have fiscal implosion THAT close.
They don't have the Biden Administration in charge, making all the wrong decisions.
faz sentido
Bitcoin
Unfortunately, this parody people has made everyone even more Boronic about economics than before.
For a sec I thought it’s gonna be like those other videos talking about it’s Total Worth.
But seems it dives deeper into the currency idea, btw, very entertaining video👌❤️🔥
Ну ...норм тема....🧐☝️👑