LLD101 :: Topic review -

darcanegel · Posted: Fri May 11, 2007 3:31 pm Post subject:

the difference between fg and dollars is this:
fg is regarded as valueless to anyone not on jsp.
njaguar won't let anyone sell fg, so it's a one-way exchange.
njauguar is a private company, as compared to a gov which is (in theory) the will of the people.
njaguar asks for (and in some cases forces) donations of REAL money.
fg has never been anything other than an electronic nothingness.

and fgg is NOT like soj's, fg is like SoJs bought off ebay. except worse, because the ppl selling the SoJs at least did SOME work for it.

that's my opinion anyway. my main problem with it is that njaguar demands real money for fg (yes, i know most people don't pay for it but as far as i can tell most if it was originally bought). they're selling nothing for something.

breakbeatz2 · Posted: Fri May 11, 2007 10:57 am Post subject:

Yeah dollars aren't backed by gold anymore.

Gold doesn't have any real value either. It is only valuable because people want a useless piece of metal. Just like people want a useless piece of paper with a dollar sign on it. FG is no different than these forms of currency.

If I remember correctly, when silver coins were first introduced as currency in the US, they needed to be backed by buffalo since people had little faith in the value of silver.

OutlawHeaven · Posted: Fri May 11, 2007 10:41 am Post subject:

Most of US Currency isn't even backed by gold anymore. Alot of it is digitial money on a computer screen. But it works fine because no one withdraws all their assets from the bank at the same time.

Money also has value because people think it has value, and people want it. If theres a demand and scarcity theres value.

ubermoose · Posted: Fri May 11, 2007 6:20 am Post subject:

Banks used to do it, the only reason for it being done by one organisation is thats its easier to control and you dont get hundreds of different styles of banknote to confuse everyone.

Gold doesnt play much of a part in it either. China has very little gold but still has a huge economy.

The only difference between regular money and darcanegel's printed off stickers is that the banks will honor the owner of the note for that amount, whereas i doubt darcanegel would.

breakbeatz2 · Posted: Fri May 11, 2007 5:59 am Post subject:

What is corrupt about it?

You don't need to buy it. You can use it as a medium for trading (like sojs or HRs) except it's much easier to trade. It also can't poof, isn't hard to store on multiple mules, and doesn't depreciate since it is backed by cash.

Think about it - FG is exactly like sojs. Both are nothing more than pixels on your computer that have real value. FG is just a much easier form of currency to deal with.

njaguar is probably a millionairre because he thought of it and successfully implemented it on his site. Good for him. No reason to be bitter about it.

zarc · Posted: Fri May 11, 2007 5:48 am Post subject:

not at all what banks do. The federal reserve does that. And they are the only ones who can create currency and regulate the flow of it. The system was/sorta still is backed by gold and its strength is derived as a comparison against the economy and amount of gold that other countries have. Banks just store and lend money at different rates of interest. I hate money and everything about it...i wish we could go back to the bartering system.

ubermoose · Posted: Fri May 11, 2007 2:33 am Post subject:

zarc · Posted: Thu May 10, 2007 4:54 pm Post subject:

sounds a little corrupt

Meegz ? · Posted: Thu May 10, 2007 2:46 pm Post subject:

They have to legally. They can't make up a currency of their own that has actual value in U.S. money since only the government has the legal right to do that. So they have to donate to the site, and in return for your kindness in donation, they give you fg.

darcanegel · Posted: Thu May 10, 2007 1:05 pm Post subject:

i think it's crap...it's sort of like me printing off little stickers on my computer and telling everyone they're worth $5 each and they're a type of money, and then selling them at that exchange rate...except worse, because jsp doesn't even have to print anything. what pisses me off most tho is that they ask for DONATIONS. w. t. f. That is just crap, it's like donating to microsoft. or osama bin laden.

zarc · Posted: Thu May 10, 2007 5:27 am Post subject:

kudos to whoever came up with it. Crazy stuff. But still i think its shady.

skulls · Posted: Wed May 09, 2007 7:03 pm Post subject:

it has to come from somewhere..and it starts at the electronic printing press... its sold...then its put in circulation by the buyers..and traded over and over..but ppl keep buying it..thats the sole purpose of the websight..generate USDs.. Free enterprise at work..

Waramp · Posted: Wed May 09, 2007 6:44 pm Post subject:

essentially, yes. but i'd say the majority of people that have fg havent paid money for it. they've earned it through trading or whatever. like myself

zarc · Posted: Wed May 09, 2007 6:07 pm Post subject:

isnt the system backed by money though? Thats what ive heard...and if so...that is 100% LAME!