Introduction: Making Your Own Currency!
sometimes, siblings can be a little annoying. how do you get them out of your room? how do you get them to share some of their stuff, like sweets? all of this could be solved with one thing: money! sadly, not everyone is made of enough money to buy everything off of their brothers or sisters; this is where your made-up currency will come in handy. your currency will give you the power to negotiate with them, and finally get some sweets from their party-bag without being accused of 'stealing'.
Step 1: Thinking of a Catchy Name
Yen. Bit coins. Pounds. yuan. most currencies have names that are easy to pronounce, and if not, have their real name shortened. for example, pounds are actually great British pounds sterling, but that's a bit of a mouthful, which is why we shorten it to pounds. you'll also need a short, catchy name that anyone could pronounce. some ideas are:
1. ' coins'. this is only really effective if your name has under 3 syllables.
2.'<insert random object here> coins'. this is a little more imaginative.
3. something entirely different. who's telling you you can't make qwertyuiopsariualpetjweua37 coins?
Step 2: Planning Yer Currency
planning your currency is paramount. for example, releasing a coin into the wild without knowing who'll produce them could lead to some serious inflation problems. so, you're going to need to think about tour currency. will it be commodity money, or fiat money?
this all depends on the resources. if you would like to make a commodity currency, you will need something both of you want, but can also use as money. for example, you could use a large packet of haribos: the sweets with the lowest value, such as foam hearts, might only get you a minute on your sister's or brother's computer, whereas a cola bottle could get you 2 minutes, because they taste better, and therefore have more value. this monetary system is the easiest to set up.
however, those who lack the resources for this could use a fiat currency. this means that instead of having an actual cola bottle, you make a picture of a cola bottle on a piece of paper. now, the paper doesn't actually have much value. if you really wanted, you could perhaps trade it for 3 seconds on your sibling's computer, but that wouldn't be worth it, because that piece of paper represents a cola bottle, and can be used as a cola bottle instead. it's a bit like an IOU that you can repay with another IOU.
Step 3: Coin, Note or Neither?
you can probably figure out a commodity currency yourself (as a matter of fact, you've probably involuntarily created one before), but fiat money is a little trickier to implement. firstly, decide if you're going to make a coin, a note, or something different; perhaps, if you're a tech genius, you could even make a virtual currency. first, decide on this- if you want something that won't take five minutes for an individual coin, try banknotes- you can use a computer to make the design , and print off the picture many times. you'll need the name of your money written on the note, and the amount.
Step 4: Making Your Money Hard to Forge
forgery is a problem in all countries. however, it can be made harder to forge by using rare materials or special types of paper. you can recreate this too! you could use tippex against a white background to make a picture that you can only see when it's held against the light, you could thread in little bits of foil so you can check it for authenticity. using a few well-placed light pencil marks will also stop it from being photocopied.
Step 5: Releasing Your Creation
the difficulty of this will depend almost fully on the type of siblings you have. generally, the best way to go about this is to first give them a small amount of money free; it must be just enough to let them buy a few small things from you. once they start getting into the swing of things, you will all realize just how educational this fun venture is: you will probably learn about inflation, and how to combat it, and about investment. the next step will teach you basic investing in sweets.
Step 6: Make Your Bedroom the Wall Street of Your Household
firstly, you'll need a small stock of some really, really nice sweets (think hershey's or lindors). because of how nice they are, there will be demand for the sweets. now, you want to buy as many as possible to reduce the supply (the chocolates in the box). this means that whilst you will lose loads of money, everyone else's demand for the chocolate will increase as there will be less, and they'll be willing to pay more- inflation. so, whilst you will have lost lots of money at first, your investment will (hopefully) give you more.
Step 7: Experiment! :)
now, you will hopefully have a striving economy in your house. can you try extending it to your friends? can you recreate the effects of hyperinflation, and is there a solution? as well as that, how is it possible to emulate deflation? you will not only have a great way to get your siblings to do things for you- you'll have a possible future career as an economist! thanks for reading this instructable; if you enjoyed reading this, there would be no greater reward for me than for you to put your success stories in the comments section! :D
1 Person Made This Project!
- Tecwyn Twmffat made it!