The System-Architecture Ny rafitra fanorenana We have too much money. A provocative statement, isn’t it? But money itself is nothing more than a digital record used to exchange goods and services. Banks serve as intermediaries, helping users manage the timing of transactions. For now, they remain the main data centers. The transaction balance is measured in units called currencies. Mazava ho azy, rafitra samihafa mampiasa tahirin-kevitra toy izany, matetika amin'ny fampiasana anarana samihafa ho an'ny vola, na dia ny ankamaroan'izy ireo aza dia antsoina hoe fotsiny hoe "vola." Ireo rafitra ireo dia matetika miorina manodidina ny faritra ara-toekarena, toy ny tsena ao an-toerana. Soa ihany, manolotra API tsara izy ireo mba hitazonana ny fifanarahana. Mazava ho azy, ny entana sy ny tolotra avy amin'ny tsirairay dia mitaky kokoa noho ny hafa. At first glance, this seems like a well-designed system that allows nearly everyone to access goods and services through the basic principle of supply and demand. So, where is the challenge? The Overhead - Taxes The Overhead - Taxes Ny fifanakalozan'ny entana sy ny tolotra dia tsy voafehy tanteraka amin'ny mpampiasa izay mamokatra sy mampiasa azy ireo. Amin'ny ankamaroan'ny toe-javatra, ny mpampiasa dia misafidy vondrona manan-danja kokoa mba hanara-maso ny ampahany amin'ny rafitra. Aoka isika hitarika ity vondrona mpampiasa ity hoe "ny governemanta." Ny mpikambana ao aminy dia manan-jo hamerina ny vola ary hanapa-kevitra ny habetsaky ny mpampiasa; izany dia fantatra amin'ny anarana hoe hetra. Are they more competent than the users who actually created the goods and services? Do they always honor their commitments? Fortunately, elections are held at regular intervals. The Ambitious Superusers The Ambitious Superusers Ankehitriny, mieritreritra raha ireo superusers ireo dia tsy afaka mamerina fotsiny fa koa mamorona vola amin'ny alàlan'ny tsindry ny bokotra. Ity endri-javatra ity dia navoaka tany Etazonia tamin'ny taona 1971, rehefa ny famatsiam-bola rehetra dia tsy voavonjy intsony amin'ny volamena. Would this feature lead to a greater volume of goods and services? No. It would merely reduce the value of the currency being manipulated. The same goods and services would simply be traded for a higher number of currency units. Luckily, the overall volume of goods and services, let us call it the economy, tends to grow over time. If the economy expands, the price of a good such as a loaf of bread would fall, assuming the supply grows faster than demand. But if the supply of money increases instead, prices rise. Managing this balance is a delicate task. Out of Balance Tsy misy fitoviana Most governments tend to create more money than economic growth would justify if prices are to remain stable. This leads to inflation. But why would they do that? Governments often spend beyond their means, leading to debt. That debt must be serviced, which requires paying interest. Unfortunately, this is often based on the flawed belief that debt creation equals wealth creation. In 1975, shortly after the aforementioned “feature” was introduced, the US money supply (M2) equaled 37 percent of GDP. Hatramin'ny taona 2025, dia niakatra ho 75 isan-jaton'ny PIB izany, araka ny angon-drakitra momba ny Federal Reserve (H.6 release, via FRED "M2SL"). A Dangerous Way Out - The YOLO Approach A Dangerous Way Out - The YOLO Approach So, we have too much money in the system. Some countries that experienced hyperinflation have responded by simply removing zeros from their currency (let’s float the point), as Zimbabwe did in the 2000s. Others, like Argentina, have dramatically reduced the government's role in the economy and allowed markets to self-correct. Ataovy azo antoka ny fikarohana izay rafitra no mahomby kokoa. Na izany aza dia mety hisy fomba fahatelo: Fantaro ny famoronana vola voajanahary izay voafetra amin'ny tanjona. Ny fangatahany dia niteraka amin'ny alàlan'ny marketing sy ny haino aman-jery sosialy, na dia tsy azo ampiasaina amin'ny ankapobeny amin'ny fividianana entana sy serivisy. Iza amin'ny saina marina no handany ny vola misy azy ho zavatra mahazatra? Eny, na dia ny vola aza dia manana vidiny. That price is determined by supply and demand. Though it sounds odd, the price of money is a real concept. If a currency cannot buy much but can still be exchanged for others, its value becomes detached from goods and services and instead driven by hype. Combine this with the idea of artificial scarcity and the result is predictable. Its value rises in relation to existing currencies. Amin'ny farany, maro kokoa ny vola “tanana”, aoka isika hiteny izany hoe vola fiat, dia miovaova ho an'ity hafa vaovao sy mahatalanjona ity. Mety ho tena manan-danja izany fa ny banky sy ny governemanta dia tsy afaka mandà azy intsony, izay, amin'ny lafiny iray, mampitombo ny lanjany bebe kokoa. Here is the catch: Its supply cannot be increased at will by central banks, which means it cannot be used as a political tool. Would governments willingly give up such power? Probably not. Financial markets are highly regulated environments. That means the new shiny currency can be banned. If that happens, its value could collapse to near zero overnight, along with all the fiat money invested in it. That is one way to eliminate excess M2 money from the system. Of course, this scenario is purely fictional.
