Currency; How does currency work in AMIDA?

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Currency; How does currency work in AMIDA?

Post by Hisae on Sat May 23, 2015 5:45 pm

Ida (Ɨ) is the currency of AMIDA. In short it works much like today's Bitcoin, a digital currency without any type of physical backing beyond the supply/demand of the user's of the system. Ida can be bought from AMIDA's systems as well as converted back into any supportted legal tender, which, as of January 1, 2073, includes over 20 major and non-major currency types. Other, non-supported currencies may be obtained through approved third party exchangers for a fee. In order to prevent excessive explotation of the system and to lend an even field for all user, all transactions in and out of the system are subject to ever changing ratios, determined by a myriad of factors. As Ida is recognized as a heavily traded currency these factors can range from the current strength of a specific set of currencies, the global market change, the inherent 'value' of the Ida, supply, demand, and even internal politics of the AMIDA System.

Any and all exchanges to and from the AMIDA system are subsequently subject to a exchange tax as well, in order to both keep Ida generation by the system in check as well as to garner a profit for the AMIDA parent company. Exchanges by a single player character are also limited to a specific amount per day, this limit is also in flux using a rigid set of factors including character standing within the system (hackers frequently circumvent this), the validity of the currency, and past history. These factors can be bypassed via a formal petition to the system, which may or may not be rejected.

On the subject of Ida validity, many users have attempted to forge or create their own Ida in the past only to be subject to avatar deletion and permanent removal from participation in the AMIDA system. Ida generated by the system is near forge-proof as of the 1.2.9 revision of the system, utilizing heavy, asymmetric and symmetric cryptograhpy in order to create a unique identifier for each Ida. Some forgeries still exist, but in quanitites too small to disturb the overarching monetary system.

Simply buying and selling items is not the only way to gain money within the system, due to the massive appeal of AMIDA, many users have found innovative ways to create, produce, and earn through the AMIDA system. This includes and is not limited to musical performances, sponsorships, races, along with other mirrored acts from reality. A unique form of earning money in the AMIDA system, is hunting. Beyond the outlands lies a dangerous zone where highly advanced monsters exist. These dealings, however, will be discussed in a later transmission.
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Hisae
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