Stop Inflation

[slavahosting]

Something needs to be done to stop the inflation of F$, I havent been with DNF that long, but I have spoken to member swho have they all say a year ago you could sell DNF for USD at a 0.01 rate.

Today, its almost impossible to sell at 0.0055, practically nobody will buy DNF above 0.005 rate.

Whats going to happen next year? 0.0025 rate, or worse?

More people are signing up, and more people are posting therefor more DNF are in circulation around the forum, some of this DNF needs to be taken out of circulation to slow or stop the local economy from completely crashing.

I propose a sales tax on all transactions including donations between members, yes nobody is gonna like having their hard earned DNF lost to taxes but its for their own good on the long run.

The value of a single F$ will go up, and therefor even though they will hold less DNF, the value might be more then before.

This is the only thing you can do to stop the inflation, over time you might wipe out the black market of sales in teh F$ forum, how much money is being made at your bank from people buying DNF. I bet not as much as it was before when there wasent a black market.

A tax is beneficial to both the forum and the members, it will provide a stable economy that can make the forum an even more prosperouse community.

 

[Kishin]

I agree,Its becoming hard to sell DNF and make it worth the money you get or sell anything and get your DNFs worth.I hope this will come into effect and if it does it will help a lot of us members who deal qwith F$ a lot out.

 

[mmkrulz]

I really dont see how having less of a thing would make it more valuable when there is an alternative which is real U.S $, all a tax will do is leave the gold membership without any value, and platinum membership would be degraded as well, i do agree with the fact that the on-going inflation needs a solution, although i dont think a sales tax is the answer, and not having alot of F$ around would cause a depressesion in the currency of the forums as well, and no one wants that.

 

[slavahosting]

a simple 5% tax won't make everyone go broke, but it will raise the value a bit, with more and more transaction in effect the value will slowely start to climb, maybe one day it can come back to the day where you can buy and sell DNF at the same rate, in the bank.

It will not make the Gold membership loose value, it will make it more valuable. People will be able to get 2 F$ for posting, and those 2 F$ will be worht something more then a penny on the black market.

 

[jimbaggs]

i dont think a tax is the way to go. better would be for admin to create more attractive goodys for people to buy in the store. that plus users creating more opportunities for trade amongst themselves and you'd have the makings of an economy.

another idea is for someone to start a lottery.

 

[Mr. Deleted]

i dont think a tax is the way to go. better would be for admin to create more attractive goodys for people to buy in the store. that plus users creating more opportunities for trade amongst themselves and you'd have the makings of an economy.

another idea is for someone to start a lottery.

That just might work.

 

[Kishin]

If people gambled away there F$ there would be less in circulation.

We already have the games,just allow to bet some F$

 

[gemsergio]

There is only one solution to the problem, we need to print real dnf Dollars and they need to be payable in gold.
Ps I just registred dnfbank.com just in case I am offering an introductory rate of 5% for the first 4 months (please use your dnf alias to receive this special discount).

 

[scorpio]

There is only one solution to the problem, we need to print real dnf Dollars and they need to be payable in gold.
Ps I just registred dnfbank.com just in case I am offering an introductory rate of 5% for the first 4 months (please use your dnf alias to receive this special discount).

Very creative Idea..

 

[gemsergio]

by the way the federalreserve is a privately owned company (owned by all the major banks) they basically actually create money from nothing and they borrow it to the US (so do also all of the other central banks like the BCE)
So in reality a dollar printed by dnforum would be as good as a dollar beleive it or not...
Anyway there is a lot around about the subject but it is pretty interesting for whoever does not know about it you can start here:
http://www.geocities.com/northstarzone/FED.html

 

[Theo]

You guys need to realize this is monopoly money.

 

[gemsergio]

which one dnfdollars or usdollars?
Not much difference IMO

 

[Theo]

Lol

 

[slavahosting]

Monopoly money or not it is worth real money just like any other currency, and I for one want my money, no matter what currency, to not become nothing. I'd prefer an economy where the value of a F$ raises against the Dollar and not falls. This way it is more economically viable to trade here, instead of with $.

 

[labrocca]

lol this is a silly topic started by a guy with only $F 148...

What about the people with thousands?

I think the extra store items and a lottery are good ideas. I would love to see a lottery that costs 100 DNF per entry that would maybe be a free domain. It would be great if a few decent domains were given away free in a lottery...maybe some good .us or .info names that are $50-$100 value. Of course this should only be open to exclusive members. Another reason to become exclusive would be good.

 

[slavahosting]

I'v got money in bank, and I currently am buying stuff with that money. It doesent matter how much I have on me now, point is theres too much in circulation, and those of us that use the currency, are actually wanting it to stabalize, and possibly grow in value, instead of continuing to drop.

How extra circulating currency is removed doesent matter, but it does need to be removed.

 

[labrocca]

Oh I forgot about the bank. I can't say I disagree with you but your post seemed overtly angry. I think most of us consider the F$ to be play money. And I did by some myself for about $40 so don't think I wish it to have less value. I wish it was .01 again too

If you think the value is going down you should sell. Also if you think that DNF can do something to raise the value then you should be buying up a bunch of it. I think part of the reason it devalues is that members are always earning them and never spending them.

 

[SouthernTn]

I remember when I had about 7000F$ .. I was spending it like crazy :-D

 

[slavahosting]

the value is going down because theres more of it in circulation, a year ago there were only a few people selling the DNF and they could sell them at a 0.01 rate, or a bit less, and get away with it. Now all people want to do is sell them so they are all competing with one another to sell at lowest possible rate. Its kinda capped right now at 0.005, I havent seen anything lower yet, but if we wait a few more months someone is gonna start trying to buy DNF at an even lower rate.

A tax was just one of the ideas to get money out of circulation, it doesent matter how its done but it needs to be done, the F$ might be play money to you but its the same thing as any other currency, its a symbol that represents a value.

The same thing that the dollar, and euro, and yen are. Now the amount of money in circulation in a country is limited, a similar system must be in place here.

Many people including myself in this forum often trade in F$ because of simplicity and no cost, when I send money in paypal I pay a cost, and not everyone can use paypal, whereas here ther is no cost to send money via donation, and all members accept it.

I recently started offering a service, won't state details because it would be advertising, but I wanted this service to be available at affordable cost, and I priced it in DNF, and posted in forum. Well when I made prices I looked at basic rate between DNF and USD, and it was 200:1.

A service that was supposed to be affordable and cheap was costing F$1000/month at the rate a year ago it would have cost F$ 500/month. Having a cheap service sold for that much today, is out of the leauge of a majority of the members here at DNF, and that is why somethign needs to be done.

One alternative that could be taken is to create and enforce minimum conversion rate rules. Make an exchange standard, of lets say 0.0075 conversion rate, and do not allow any exchanges below this. This will give a raise to teh value of a F$, at the same time it will make people hesitant to buy, they will wait hoping for a drop in rates again. This might stop all sales of F$ all together for a while and in the end hurt the economy.

A second alternative is as someone pointed out a lottery or more thing in the forum shops. More things to buy means mroe things will be bought, and less money in circulation, as soon as theres a large group of people who need F$, they will start competing among each other to buy F$ at a larger rate, slowly but surly this will cause the value of F$ to go up.

Third alternative as I previously stated is a tax, everyone hates paying taxes, but they serve their purpose. A simple tax, how ever slight, in effect on hundreds of transfers will slowly lower the amount of F$ in circulation, and increase the demand therefor for F$.

Its capitalism, supply and demand. More and more people are posting and there for there is a great supply, but the demand is limited to a small group of people. Either the supply needs to be dwindled, or demand increased. Wither will work but one needs to be done. Increased supply with little demand will push the value of a F$ even lower, and nobody wants to see that.

 

[Anthony Ng]

The truth is: the central bank decides the rates here via its monetary policy, if you know what I mean. All other effort is futile.