explanation of the run on toilet paper (TP). Soon most folks will run out of income/savings and their credit lines too. So to survive they need to resort to some other means of payment that liquifies some existing useful asset folks already hold. That is where TP comes handy...
So maybe someone should rather create a virtual version of TP currency that to be credible gotta be fully backed by actual TP. But given hoarding of TP that is hard. Maybe TP producers can introduce this virtual version of TP-Paper Money that is fully backed by actual TP stock!..
Issue is if production of actual TP could be inflated by TP producers to debase virtual TP-Paper thru over production of the asset backing it. Optimal private production of TP is different from socially optimal one. But demand 4 TP for cash & toilet purposes will limit debasement
A TP-Paper currency will not be a crypto or blockchain scam. Unlike such useless Shitcoins it will be backed by a real asset, the stock of TP produced by actual TP producers. Ie like a true gold-standard where the entire stock of virtual TP-Paper is backed by a stock of actual TP
Unlike 1000s of Shitcoins, TP-Paper will be a 100% fully asset backed currency & a currency more useful than gold that has little other use & function than a store of value. TP-Paper is cash & can be also redeem instantly into actual useful TP. So you get 2 for the price of 1!
Real TP is, like paper money, a serious vector of contagion of COVID19. But Virtual asset backed TP-Paper is 100% and doesn't transfer any disease or virus, Coronavirus or otherwise. So it is Coronavirus Free!
Actual TP as paper money has features of paper money as standardized, divisible in small denominations & cash-like. The problem however is that paper money is a very dangerous vector of COVID19 contagion, let alone TP cash! So Virtual TP-Paper is superior
