An Honest Introduction to Money

[chixka000]

That was a long one tho and a good article for something that is to be considered as one of the main issue or topics in this sovereign world.

The purpose of the state is to uphold the values that have been agreed to by all members of society.

1) This is impossible since 100% will never agree on even basic values.

2) A majority or super-majority is an alternative, but...

3) as history will demonstrate the majority is often wrong.

4) Right and wrong are not determined by the majority, morality is absolute. What is right can be right even if everyone thinks it is wrong.

Although some people will disagree with me on this, I will still say it: murder is wrong is not an opinion but a fact. We can disagree about what constitutes murder, but every reasonable human being *must* accept that murder is wrong in order to participate in a credible discussion of ethics. This fact should reveal that ethics are absolute rather than a societal consensus. After all, in some societies human sacrifice or mass murder has been acceptable, but those actions are still objectively wrong.

Absolutely what is wrong or right is on the person,place etc involved on the certain issue. The thing here is that fact is being researched and how to believed in would be up to you.

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[Financial_Genius]

How does bitcoin fit into the standard definition and traditional role of money? how might it change money? Are you going to have subsequent commentary that extend beyond this introduction? Have you linked this up with any of the other money supply and currency use discussions going on in this forum?

It would be nice to get a healthy, educated debate going on the key challenges facing bitcoin and "money".

Cryptocurrencies differ from other currencies and electronic means of payment like WebMoney.Decentralization. Cryptocurrencies have no actual Central issue (as is typical of any world currency) and belong to no one except their actual ultimate owners. Any interested person can independently produce a production (mining) of cryptocurrencies. Transparency of calculations. All cryptocurrency transactions are stored in a database forever, so if you want you can track any transaction any payment to the moment of generation of these payment marks. The degree of participation in the system. Each person is free to choose to what extent he will participate in the system: a cryptocurrency mining, or just buy them from other participants, or not to Transact with cryptocurrencies. All of this is voluntary. The lack of centralized control. There is no such regulatory body which could block wallet in bitcoin or cancel some operation.

[Qunenin]

In my opinion, money is just a tool to make our deals and trades easiest and successful. And also its a powerful tool to get good level of living .

In addition to what you mention, money is a tool that is meant for exchange to take pace and legally accepted by the government of a particuar territory. This is because if a government did not regard an item as a means of exchange, then it cannot be regarded as money.

Even we live and die for money as we can buy anything for money.

Consider Government cancelling a piece of paper money and all the paper money just becoming useless worth of paper only. So its WE who have given the value to money.

[Zedpastin]

In my opinion, money is just a tool to make our deals and trades easiest and successful. And also its a powerful tool to get good level of living .

In addition to what you mention, money is a tool that is meant for exchange to take pace and legally accepted by the government of a particuar territory. This is because if a government did not regard an item as a means of exchange, then it cannot be regarded as money.

Even we live and die for money as we can buy anything for money.

Consider Government cancelling a piece of paper money and all the paper money just becoming useless worth of paper only. So its WE who have given the value to money.

That just happened in India. The government just make the old 1000 Ruby notes illegal and people have to exchange to new ones.

[Betwrong]

In my opinion, money is just a tool to make our deals and trades easiest and successful. And also its a powerful tool to get good level of living .

In addition to what you mention, money is a tool that is meant for exchange to take pace and legally accepted by the government of a particuar territory. This is because if a government did not regard an item as a means of exchange, then it cannot be regarded as money.

Even we live and die for money as we can buy anything for money.

Consider Government cancelling a piece of paper money and all the paper money just becoming useless worth of paper only. So its WE who have given the value to money.

That just happened in India. The government just make the old 1000 Ruby notes illegal and people have to exchange to new ones.

Yeah, but they can do it, right? They can exchange the old Rupees without any restrictions so it means the money still have their value. The much worse scenario would be if they can't do that which happenned many times in many countries throughout the history.

I think it will take some time untill people realize the advantages of Bitcoin over paper money and will start keeping thier savings in BTC but it will happen one day or the other, and then Bitcoin will skyrocket.

[Xester]

Well the author has a very detailed idea about money. But for me the definition of money is simple. Money is the by product of my sweat and hard labor that will serve as a legal tender to purchase the need of my family. It is an object yearned by almost everyone in the society and a paper that becomes powerful enough to improve lives as well as to destroy lives. Money can be viewed on two sides, its either he is your master or second money is your slave.

[hisuka]

Money is sometime the root of evil, it is the cause by wrong doing.
Our money need for a daily life just to earn for a living. It is worth
to spend some money when you know it comes from you by reachinG
your goal.

[Vaskiy]

Money is the one that rules the entire human activities. These days people have been giving respect to each other based upon the money they hold or the status they acquire with the money earned.

[Fatanut]

Money is the one that rules the entire human activities. These days people have been giving respect to each other based upon the money they hold or the status they acquire with the money earned.

Even in the past, people who have literally nothing don't matter to the society. It's really unfair that some people were born broke while some were born rich. But that's just how it is. The only difference is that nowadays, even broke people can become successful if they invent something good or if they work really hard. Back then, if you're a slave, then you're going to serve your master your whole lifetime and you can also be sold to other rich people.

I'm aware that respect should be earned and all but money actually indicates how much your family have worked hard. If you have money, then it's most probably one of your family member is already a respected member of the society and it makes you respected as well no matter how bad your attitude or character is or no matter how useless you are. You can be the dumbest person in the world but still get respect from others.

[BobK71]

...
That just happened in India. The government just make the old 1000 Ruby notes illegal and people have to exchange to new ones.

Yeah, but they can do it, right? They can exchange the old Rupees without any restrictions so it means the money still have their value. The much worse scenario would be if they can't do that which happenned many times in many countries throughout the history.

Only in theory.  There was a short deadline for exchanging old notes for smaller denominations.  There were long lines and a lot of paperwork to fill out to do the cash-to-cash exchange.  Banks often ran out of notes.  The only painless thing to do was to deposit the old notes into your bank account, and hope ATMs still have smaller notes when you need cash.

My theory of why India did this, at the last minute, on US election day (which, if you think about it, was a very strange way to do this kind of thing) are:

- To suppress the price of gold (only for the short term).  Since the result was a shortage of cash (big or small denominations,) there would be less cash to buy gold.

- To put money into banks since depositing your large denomination notes was really the only easy way to handle the event.  This was also successfully achieved.  Only elite insiders know how fragile the banking system really is.

[BobK71]

Well the author has a very detailed idea about money. But for me the definition of money is simple. Money is the by product of my sweat and hard labor that will serve as a legal tender to purchase the need of my family. It is an object yearned by almost everyone in the society and a paper that becomes powerful enough to improve lives as well as to destroy lives. Money can be viewed on two sides, its either he is your master or second money is your slave.

Don't get me wrong.  I want money to be simple.  Money should be simple.  It should work exactly as you say.  But modern elites have been able to make money so complicated that most people can't understand their theft from, and destabilization of the world, by manipulating it.

What I tried to do in the original post was to embrace this complexity that is forced upon us, understand it, and explain why, under the elites' own 'moral code' of using their control of money to benefit the world, their system is not what they claim it is.

[elash]

That was long 

Money must be produced with similar value of its face value, otherwise it is just a IOU promise. However, since value is all subjective, the subjective measure of an IOU's value thus is based on the creditworthiness of the issuer

Money in this world is the most important thing living without money your nothing and money motivate a lot of people to work and money is the reason why we want to have a high professional because they want a higher return of money in the equivalent of there work. Money runs everything thing in this world.