/biz/ - Business & Finance

You know why there isn't such a thing as widely used private currency /biz/? Sovereignty. Sovereignty allows governments to protect their populace and their machinations through force.

If someone tries to fuck up a state's currency, or steal it, or manipulate it beyond an acceptable level, that state can use the rule of law to punish those accountable and prevent such activity to happen again. If another state tries to usurp a state's currency, it can declare war and do whatever is necessary to protect the security and value of their own currency.

Businesses aren't sovereign. They can have all the wealth in the world, but ultimately their wealth is only possible due to the security of value offered by their or other state's currency. If they try to use their own currency but have no sovereignty or power to protect it, it will hold no true value.

This is why you shouldn't use cryptocurrency, because companies like Mt. Gox can't protect the value of the currency they trade in. It is the most nominal means of exchange imaginable, truly monopoly money. So unless dogecoin has some Abrams tanks to blow eleet hackorz scaming their currency the fuck out, invest in something real. Like Zinc or something.