Money is a simple word to describe a complex idea. Firstly, it’s a store of value and because it’s so intrinsic to our lives and we learn about it and even play with it from a young age we don’t even consider what it really means. It represents our hopes and dreams and offers security. As a store of value it is derived from energy. Money is obtained with effort, even if one considers luck like a lottery, the money originated with work requiring energy and effort. This answer is maybe a bit different from others but that’s my takeaway from these lessons. That while we use currency for many interactions in our daily lives, it’s the accumulation of money that preserves the value of the work and effort done.
money is a store of value that can hold that value for long period and not go back to zero like fiat currency we are deceived to believe its actual money.
Maloney made it clear that money is simply a more permanent form of currency. Currency is a portable form of temporary money backed by our representatives in power, while money is a more burdensome form of stable assets who’s sole power comes from people who value those assets.
Currency- Some else decides it’s value
Money- We the people decide it’s value
Money is something which have a universal value and it is exchangeable, transferrable, portable, divisible and which can be used as a storage of a definite value for a long time.
Money as a Language
The ability to understand value, consistently expressed with BTC as the common denominator, is an exciting thing.
When prices vary between geographic locations, and sellers become aware of these variations, goods and services will migrate to areas where the prices are higher, and as a consequence, those prices will eventually decline. This is only possible when money communicates as a language to those (providers as well as consumers) who continually make the effort to understand it.
(Presuming this is a truly free market, of course… )
Medium of Exchange: Relative Stability
“Yes, yes,” I say to the detractors of BTC. “I understand your concern about the relative instability of Bitcoin. But, I wonder what it would look like if Bitcoin was being made to merely appear as being unstable…”
What is Money?
Store of Value
Recently saw the film “His Majesty O’Keefe” (1954), starring Burt Lancaster. The story is set in the South Pacific during the latter part of the nineteenth century. Coconut oil is highly prized making the establishment of commercial outposts and ports for ships to carry this commodity elsewhere.
After wading through this glorious Technicolor story involving island pirates, tribal conflict with two appearances of the Imperial German Navy and friends; and an implausible love story which causes one to concentrate more upon the taste, color and texture of his popcorn, this movie took an interesting turn.
The subplot which revolves around the stone money of the island really got me sitting up in my chair. These stone disks satisfied the four following requirements:
- They were durable because there were large, hard, flat stone disks with a hole in the center for carrying. The wealth of this is durably preserved if the process in obtaining these remains the same.
- They were value dense by representing the ordeal of travelling to another island, quarrying the stone with the risk of grave injury and death, and fashioning it into shape. It is held communally, under shelter by the tribe to trade with other tribes on the island and not held individually where it would indeed be cumbersome and not divisible. But this works well enough, nonetheless.
- They maintained purchasing power because they were hard to produce, provided the process in obtaining these remains the same, thus tradeable for roughly the same amount of goods and services with other tribes in the future.
- They were liquid insofar as custom, usage, and the island economy.
Things get interesting when the story’s protagonist tries to make himself useful in offering modern technology for the process of quarrying these stones in exchange for the co-operation of tribal leaders and the island people. More stone money is quarried with less time and improved safety. The tribe having accomplished this is happy with their increased wealth and fewer casualties.
A warrior chieftain from a different tribe takes offence to this disrespect for the old ways of obtaining the stone money. Intra-island conflict ensues. Our protagonist destroys and burns the warehoused money which was obtained with the aid of modern technology and modern explosives.
Our hero acknowledges the warrior chieftain’s grievance and his (the protagonist’s) mistake of interference and disrespect for traditional methods.
The Take-away
Here, at the end of the movie, we can infer what is unsaid by the writers and characters: the methods whereby labor and difficulty achieve the representation of value in a medium of exchange are necessary to maintaining that value. The hero, even though he meant well, devalued the traditional money of the island because he saw it merely as a good, as a commodity, in his effort to show a better means of production.
Is a unit of account, medium of exchange, is a store of value, also depends the quantity of people use it, the money value will low on time cause government influence.
-money has a value with characteristics such as durability, portability, divisibility
-Currency has got no intrinsic value just like paper worth nothing, the value is decided by governments….
Money is independence and freedom! That’s what money is. That is why economically rich countries dictate how developing countries live. And a working husband can beat a housewife, and she won’t say a word about it to anyone. Money is an opportunity to live the way you want, regardless of someone’s opinion. I realized this when I was a student. Even then, it was possible to find a job on the Internet, which I did. Now I win money effortlessly, and I can live the way I want, moving from city to city whenever I want.
Money is a language between people that represents store of value, unite of account that is medium of exchange. To be functional is has to be valuable to everybody, durable, to be able to maintain purchasing power, to be liquid, useful, demanded, widely accepted, portable, of a certain amount that behaves like a ruler
!I don’t know, mate. My close acquaintance had the same issue
Money is power over everything in this world
Money is a fungible, convertible asset.
Money is a store of value , money is backed by something(example gold)
There are a features that money has to have in order to use
- Money communicate value
- Money is a store of value ( durable , value sense, it´s hard to produce , liquid
- Medium of exchange because facilitate transaction ( widely accepted, portable, divisible, fungible, common accesible
Some people say that money is just a piece of paper, but it’s so much more than that. It represents our hard work, time, and effort that we put into earning it. I think it’s important to have a healthy relationship with money. It’s easy to get caught up in wanting more of it, but at the end of the day, it’s not everything. It’s important to budget and save for the future, but also to enjoy the present. Speaking of making extra cash, have you heard of games that pay real money? I stumbled upon this article on https://joywallet.com/article/games-that-pay-real-money/ and it’s pretty cool. It talks about different games that you can play on your phone or computer that actually pay you real money. It’s a fun way to earn some extra cash on the side.
Some people say that money is just a piece of paper, but it’s so much more than that. It represents our hard work, time, and effort that we put into earning it. I think it’s important to have a healthy relationship with money. It’s easy to get caught up in wanting more of it, but at the end of the day, it’s not everything. It’s important to budget and save for the future, but also to enjoy the present. Speaking of making extra cash, have you heard of games that pay real money?