Re:A Virtual Weimar: Hyperinflation in a Video Game World
by justincormack on Tuesday May 21, 2013 @04:28AM
(#5742456)
You do not really need a competing currency as anything can be a store of value eg cigarettes or cars that is not the currency. But dollars are widely available globally and plenty fit in a planeload of $100 bills. I was in Brazil when they had around 40% a month inflation and you could buy dollars on any street corner and the black market rate was broadcast every day on the TV news.
The other component necessary for hyperinflation is a competing currency. In Zimbabwe the locals switched to dollars when their native gov’t currency failed.
From the article: Most of the gold generated by the ruthlessly productive, rapidly adapting bots found its way to third party vendors in a black market which undercut the prices in the sanctioned, in-game auction houses.