Money has always seem to lose its intrinsic value, debased, devalued and inflated. People need to realise that it makes no sense to leave money to “grow in a savings account.” People are being driven to poverty. Cryptocurrencies to the rescue!!!
My Skype handle of over two decades is “HermosaGoldSilver” … Beautiful Gold & Silver … I’m a real metal head from way back. Real Money.
Look forward to the course and discussion.
We started exchanging barter such as rice, gold and silver as a way of purchasing items. Then came the creation of coins as a currency using metals combined with gold/silver to reflect their intrinsic value which people traded to acquire commodities.
Debasement eventually led to coins losing intrinsic value as they were created using fewer gold and silver. Eventually money printing came in to existence, leading to production of paper-based notes as currency alongside coins with little to no intrinsic value. These notes were initially pegged to the price of gold as a way of defining their value. It was guaranteed that x amount of currency would value at y amount of gold.
At present, paper-based notes are no longer gold standard and hold value based on the confidence of people who use it.
That’s interesting that there is no evidence for a barter economy. The gift economy makes more sense to
my mind and anthropologically there is lots of evidence, I suppose Buddhist monks are a good example.
Thanks for sharing
Hi everyone, I have a question I’m trying to get my head around does anyone know if a currency is debase-able and ALT token can be (not always) a debasement on top of Ethereum or some other coin, do we call Ethereum money or currency? Is it valid to say Bitcoin is money and Ethereum is programmable currency? thanks
My first experience of many with the barter system was to trade a Samsung stereo system for a Yamaha 400 MX. I got a lot of fun out of that bike. It was very fast for the time. With the fractional reserve system it seems like we get less and less value for our currency over time. Some countries really have it bad. That is why I believe in precious metals and crypto currencies with good tokenomics and good fundamentals. ( Bitcoin , Ethereum, ect. ) Limited supply and widespread adoption.
negotiations of price discovery continue seeking the hardest possible money - we are onto something very-great here, with bitcoin, my friends!
‘A Brief History of Money’ shows us, why we need Bitcoin and Co… The history is full of examples of unstable monetary systems and negotiable methods.
Hi, Can anyone help me by telling me the examples he mentioned in Primitive Monies? the three of them. He said something about salt. Sorry, I’m not a native English speaker.
Wouldn’t it be nice if we all just gave to one another freely? If trust was good as gold and we didn’t need money at all? Oops, that’s the hippie in me coming out. Been listening to too much Cat Stevens. Well, crypto is the next best thing!
The early monies mentioned were: 1) shells from the sea, which would be valuable and rare if you lived in the mountains, for instance; 2) animal furs or hides, which took a lot of work to produce and had a practical purpose of keeping you warm; and 3) salt, which preserved food back in the day before refrigeration.
Thank you very very much !
my first barter deal happened when i was 5 year old , i remember i changed my toy with another boy who was a few years older than me and the toy i received was broken… the boy doesent want to give it back to me its makes me very angry then hhh now when i remeber it makes me laugh
my opinion is money printing will end when our fiat dollar totally collapses which again in my opinion were closer than most ppl probably even realize…my guess in in the next few years were gonna see it collapse. this is normal, it is planned for and expected, the govt will give us a new kind of money and well be off to the races again probably with digital government dollars and the cycle will repeat…
Concept of money is fascinating. I prefer to call it wealth. The concept is pretty simple if you simply can contain your spending below your income. But as the society progresses, the people in power has made knowledge a privilege while increase demand for goods become the driving force of the business, leading us to today’s world. Insufficient saving and lack of real wealth management.
They already knew in 16th century how to ‘print’ money
Some countries are introducing cdbcs and so many people think that they are cryptocurrencies. Education, education, education!
Money/Currency/Energy its all interesting and something I have looked into for many years. many things to do with money i have had to really open my eyes to see full transparency, the macro and the micro and its provenance. i tried to live without money but i still wanted fair value for my efforts in life but being in these times some comfort would be nice. i hope other people will also understand where money came from and to expect more fairness when it comes to your own value and ownership of the value should be yours alone and not constantly taxed or fined. to become sovereign and free, improve humanity and the planet that homes us. a big thought but i feel like crypto gives us a choice, at least to try something new and maybe be more invovled rather then let fintech handle it. Even if i continue to be a tradesman and not become entwined with the crypto industry if i could get paid in crypto i would at least feel like my value will grow in the long term instead of having diminishing returns on any fiat i have.
I read the BTC standard a few months ago and been a BTC investor since Jan 2018. I first watched Mike Maloney’s “hidden secrets of money” another great series of videos on the history of money and where we stand today! I love this refresher course… AWESOME
Anybody else just instantly think of the movie “Dumb and Dumber” when reading this article at the part of spilling the salt and tossing some over your left shoulder? Or just me? haha