Talk:Terra (proposed currency)

Um WTF?

Er what is a kilometerton? Does it mean a kilo metric tonne? If so a kilo metric tonne of what? The website doesnt seem to have anything useful but it does mention carbon credits. But from a quick Google, a kilo metric tonne of carbon credits will be a lot (from what I can tell at least US$5000-20000)... And how exactly is 30% gold quantified against 2kg grain, 10kWh and half an hour of labour? Nil Einne 20:49, 25 October 2007 (UTC)

As far as I know, a kilometerton refers to the costs induced by transporting one metric ton of a good over a distance of 1 kilometre. The term is used in the transport business. I think 30% gold means, that 30% of the basket's value is derived from gold, in other words: the basket must consist of an amount of gold equal in value to 3/7 of the value of the rest of the basket. -- GambitNC 18:26, 8 November 2007 (UTC)

Hmm but how do you decide what 30% gold is? Do you mean you use the price at the time you make this currency? Otherwise the currency is permanently tied to another currency. Also, why is gold defined by value, but not the other commidities/stuff? Nil Einne (talk) 11:49, 30 April 2008 (UTC)

I removed the "Proposed Basket" section, since nowhere in the whitepaper was this basket even mentioned. Not only that, but the listed basket was completely unsourced and impossible to actually implement due to unspecified units. (see above. My favorite was 10 kWh, of what? Electricity, and if so generated by what?) Until someone actually lists a basket in a easily quantifiable form, this section should remain gone, since it's needlessly confusing.71.197.236.103 (talk) 09:04, 30 June 2008 (UTC)

INflation resistance

The article claims that the Terra was inflation resistant. I question that, for the following reasons:

- There is no protection against deflation. The market value of 1 Terra could grow to something above the official value of 1 Terra. This could only be prevented by giving new Terras to people who want to sell commodities to the Terra Central Bank. - When the Terra has deflated, it can also drop back to its official value. - In order to prevent an inflation, the equivalent of all Terras in circulation must be kept at the Terra Central Bank as commodities. That means, that if there are 100 000 Terras in circulation, the Terra Central Bank must have 1000 barrels of oil somewhere. Problem is: If the Terra Central Bank ceases to back all Terras by actual commodities and everybody wants to return their Terras, then the Terra Central Bank is bankrupt and the Terras are worthless. Problem is: Keeping all Terras worth of commodities in a warehouse doesn't scale.

-- 62.156.43.158 (talk) 22:56, 6 April 2012 (UTC)

Don't merge

I advise against the proposal to merge this with the article on The Future of Money: Beyond Greed and Scarcity.

The concept of Terra as a world currency has importance beyond that single book. I do suggest creating a list of complementary currencies. Thanks! --Lbeaumont (talk) 22:03, 22 January 2014 (UTC)

Add UST ref?

Does this page need to mention or dis ambiguate for this actual currency called terra? https://www.terra.money/ Jack Nunn Jacknunn ([[1]]) 12:55, 26 March 2022 (UTC)

Requested move 8 November 2022

Terra (currency) → ? – Current title is ambiguous with Terra (blockchain) * Pppery * _{it has begun...} 15:36, 8 November 2022 (UTC)