When evaluated relative to the Bitcoin or the Basecoin, sovereign currencies such as the Japanese Yen, Pound Sterling and the European Union’s Euro dollar, show marked instability and multiple equilibria. While multiple equilibria are still present when the above three currencies are measured relative to the United States Dollar, there is much less instability of the prices. A new analysis that seeks to determine whether currency instability can be reduced when the currency possesses intrinsic value will soon appear.
