People have lost their life savings either through it, or the use of voodoo economics to stop it, but here on BGG we aren't seeing it bite on the Geekgold.
I'm interested in views on the state of the Geekgold. There was concern on several forums that the 2011 and 2012 members bonus would create inflation devaluing the currency by having more gold chasing items and making them more expensive. There was fear that the amount of geekgold needed to buy US$ in the marketplace would increase and that the returns in games for geekgold lotteries would huge amounts of coin but less buying power.
Before commissioning more study into the issues and before talking to Geekdom's Monster of Finance I've seen no inflation effect whatsoever and if anything the exchange rate seems stronger. The g4gg lotteries give anyone bidding a greater chance of winning, the market price of US$ is holding steady.
If could be :
a: The overtext sinkhole was a successful intervention by the Monster of Finance b: we have had massive shortage of all along and this wasn't enough to shift it. c: People are hoarding to keep it scarce.
I've amassed over 10,000 over the years and spent just as much, some coming and going in the G4GG lotteries, much through purchasing an avatar, ubergeekbadge, overtext for both and 500+ microbadges. I feel adequately compensated in geekgold and have not been disappointed in what my geek gold has gotten me in return, including many new geekbuddies through the G4GG lotteries.
I therefore declare that the system is working as it was intended to. Anyone that speculates or hordes virtual currency is asking for what they shall get for their geekgold and efforts. Nothing.