Activity Lesson 1

Bitcoin Monetary Revolution
#183

When I was 7 years old I swapped my BMX Super Champion game for a tamed pet rat (which I called Roland by the way).

So I swapped a handheld game for an animal (a rat). Of course, when I was 7 I only wanted the thing that I didn’t have so I could not put a high enough price on it at the time! However, I do think it’s difficult to analyze if an animal should be swapped for a lump of plastic but in hindsight

  1. the animal obviously eventually died
  2. actually that plastic game is now worth around 300 dollars on eBay! amazing how much in price a piece of plastic can inflate to!
#184

I traded Pokemon cards and stickers with anything that was necessary to complete my collection :slight_smile: It always felt fair to me when I got what I wanted, even if I “paid” a little extra here and there.

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#185

i traded xbox game console for silver yes i think was great fair exchange5

#186

Activity 1.

Describe a barter transaction that you’ve been a part either as a child or adult.
List the two items in the barter transaction and, looking back, did you think it was a fair exchange and why?

A barter transactions is when you exchange something with another part with what you both have. This is when price discovery happens.

A barter exchange i had done most recently was when my brother wanted my Jacket and in return i wanted his trainers. We both wanted what the other wanted and we both thought the value of exchange was equal to each other.

It was fair as am the older brother and i got the better deal :rofl:

#187

I got transaction between free meal and financial consultation to my friend. I cannot not value whether it is fair or not, but at least I spend 2 hours for the consultation and got free meal from my friend. It was fine.

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#188

at school we had a project where we had to make something and bring it to school and we would exchange it with someone for something that they had.I had a pencil case that i made and exchanged with someone that had a really nice back pack and i think the trade was pretty fair because the back pack was pretty small.

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#189

When I went to Bali I bought a small buddah from a local merchant. I tried to negotiate the price for this but she wouldn’t budge on this particular religious item. I was a little surprized as all the other items in Bali I was able to barter quite easily.

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#190

I used to swap pens and pencils at school because I liked stationery. I would notice someone using a pen or pencil that I liked and then I would ask them what they wanted from my pencil case in exchange for the pen or pencil. An example, I swapped a set of stickers for a nice gel pen. I do think it was a fair trade looking back because each party agreed on the value of the items being traded (price discovery).

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#191

I once exchanged services in a barter transaction. I did some electrical work for my barber, and in turn he cut my hair. I do think it was a fair trade, the time of labor was similar. Also the value of each our time was similar in market value per hour.

#192

Traded pokemon cards as a child, generally the trades seemed fair.

#193

when I was young we had Atari and I had a game called adventure and 1 was space invaders and I traded then for for 1 game called River Raid, and yes I thought I got the better deal because I’d beaten the ones I had and
River raid was just a better game any way.

#194

I took part in a barter when I was a kid, doing various chores around the barn in exchange for horse riding lessons. Yes, it was a fair exchange because both the other person and myself benefited from it.

#195

The easiest example I can think of now looking back was PC games or collectibles like pokemon cards. It was fair in the sense that the exchange had a perceived equal value by both participants and each wanted to own the other item.

#196

I traded Pokemon cards quite a bit and regularly got tricked into making bad trades by older kids. I was not good at working out whether I preferred a larger number of cards or less but better cards :laughing:
Actually I’d say I was a terrible trader as a kid…

#197

Madden marketplace, trading “cards”.

#198

I used to trade video games with friends after we’ve beaten it.

Yeah it was fair–2 different video games.

These questions are just anecdotal–why not questions about the lesson, and a brief history of money?

#199

When I was 10 I bartered my collection of Pogs, for an infrared toy gun with a target.
I have always been attracted by those kind of toys and my friend liked the Pogs. We both gave value to those, that’s why the barter went through.

pogs

#200

I did not have a proper barter exchange. We exchanged cards, this small glass balls, and items like that. So it was always the same good. Sometimes you got a better value card or item if you knew more than the other kid :slight_smile: sometimes it was the opposite.

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#201

Describe a barter transaction that you’ve been a part either as a child or adult.
List the two items in the barter transaction and, looking back, did you think it was a fair exchange and why? At my school we would exchange this tokens found in chips and some kids would actually pay real money in order to collect the tokens. today I sold my first Art painting :slight_smile:

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#202

I can´t really think of any barter transactions other than exchanging food with friends and classmates. The appetite and desire for certain foods is so strong, emotional even chemical making your entire body and mind desire certain treats. In case me and a friend had both highly desireable foods to offer, the consequent barter transaction was as fair as it could possibly be as long no pressure was included, but I didn´t had these situations in my school life. Also they were 1000% transparent, because everybody knew what he was getting no contracts no cheating involved. I have the feeling that today´s monetary system is unlikely more unfair as much presure is involved and intransparent as consumers often have just fractional understanding of contracts they sign.

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