Purchasing power of dollar is falling every day

Economic system discussion.
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Meconomy153
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Purchasing power of dollar is falling every day

Post by Meconomy153 » Sun May 03, 2015 4:00 pm

What can you buy with just one US dollar? The purchasing power is an important measurement. It tells us how many goods and items can be bought with a unit of currency. The purchasing power of the dollar has been falling for a long period of time. And it has fallen quick. The amount of interest you get from your bank comes in no way close to covering the loss of purchasing power of the dollar. Maxcoin doesn't loose it's purchasing power.

In 1913 one dollar could buy a lot more than in 2012. Imagine that you could buy an item for $1 in 1914. If you want to buy that same item in the year 2014, you will have to pay $23,27 instead of just one dollar. The purchasing power of the dollar decreased with 95.7 percent within 100 years! You can actually buy 95.7 percent less goods and items than you could have bought in 1914. The reason the dollar is losing value is beceause the government is printing money. Maxcoin doesn't loose value. There will only exist 106 million maxcoins. And no one more.

With each great innovation comes change, a new way of doing things. We don't use telephone booths, because we don't need them. We don't use horses, because we have automobiles. We don't have typewriters, because we have computers and hard drives. Why still use dollars if we have maxcoins?

Alonzosfus
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Re: Purchasing power of dollar is falling every day

Post by Alonzosfus » Wed Feb 17, 2016 6:58 pm

While I agree that it is coming I do not believe that the Gov't has all things in place for it yet.

HolmesL
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Re: Purchasing power of dollar is falling every day

Post by HolmesL » Thu Apr 14, 2016 7:05 pm

I find this very interesting and the points you raise are true to some extent. However, I feel that blaming the decreasing power of the dollar solely on the fact that the government is printing more money is slightly misleading. There are many factors that have gone into the decreasing dollar power over the past 100 years and some of these external factors might have more to do with it than the fact that the government is printing money out.

I do like the idea of how innovative Max coin is. However, I feel like all the kinks in a cryptocurrency system need to be worked out before they can be introduced to a wider audience who will be willing to make use of it on a daily basis. My biggest fear about cryptocurrency is its security and once these issues have been worked out properly I believe that more people will be able to come on board.

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