The US dollar is the global reserve currency because of its military might and because oil is traded for the most part in US dollars. The majority of trade and contracts are done in US dollars. It's inevitable that the NZ dollar will be weaker because of these aspects. The best way for New Zealand to survive is to move as quickly as possible to a Bitcoin Standard.
I wish the Wellington council would come out and say. we're going to become the crypto capital of the Southern Hemisphere! Been saying I work in the new digital economy (self employed for sure)
@@PolyDave The current cryptocurrencies are all nonsense (some obviously more nonsense than others), although they have definitely managed to take on a life of their own and taken on wildly different values - a result of marketing and hype more than their underlying properties. They are a great software experiment - a functioning proof of concept - but the current generation of coins (invented from thin air, backed by absolutely nothing) are not something I consider worth purchasing: the only reason would be to sell them again for profit. Rather than turning Wellington into New York or London (financial centers) you would be turning Wellington into Las Vegas (gambling capital). To enter now is basically to join a game of Monopoly after most of the board has been bought and built up - what's the real point? I can understand using cryptocurrency technology to digitize a national currency (to a point), but a completely arbitrary currency held by neckbeards and anarchist weirdos is not a rational way to run an economy (at least in my opinion). To say "let's use Bitcoin - the number go up!" is foolish and short sighted. Do you just want to pump your own bags or is there a good strategic reason? I ask this genuinely, without intending to offend.
Cheers Cody!
Great pod cast we need more in NZ, don't worry neither have we watched TV for years, its all been invaded with drag shows and cake wars!
The US dollar is the global reserve currency because of its military might and because oil is traded for the most part in US dollars. The majority of trade and contracts are done in US dollars. It's inevitable that the NZ dollar will be weaker because of these aspects. The best way for New Zealand to survive is to move as quickly as possible to a Bitcoin Standard.
BTC is not Bitcoin.
I wish the Wellington council would come out and say. we're going to become the crypto capital of the Southern Hemisphere! Been saying I work in the new digital economy (self employed for sure)
@@PolyDave The current cryptocurrencies are all nonsense (some obviously more nonsense than others), although they have definitely managed to take on a life of their own and taken on wildly different values - a result of marketing and hype more than their underlying properties. They are a great software experiment - a functioning proof of concept - but the current generation of coins (invented from thin air, backed by absolutely nothing) are not something I consider worth purchasing: the only reason would be to sell them again for profit. Rather than turning Wellington into New York or London (financial centers) you would be turning Wellington into Las Vegas (gambling capital). To enter now is basically to join a game of Monopoly after most of the board has been bought and built up - what's the real point? I can understand using cryptocurrency technology to digitize a national currency (to a point), but a completely arbitrary currency held by neckbeards and anarchist weirdos is not a rational way to run an economy (at least in my opinion). To say "let's use Bitcoin - the number go up!" is foolish and short sighted. Do you just want to pump your own bags or is there a good strategic reason? I ask this genuinely, without intending to offend.
@@PolyDave Wellington? Not a chance!