Money As A Product Of Innovation

[Paleus]

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When it exists in the private domain, money itself becomes a product of innovation. Unlike public, central bank controlled money, bitcoin and the emergence of cryptocurrencies shift the function of money to the private domain where the market demands continuous innovation. The power of choice given to the consumer by private money, allows users to choose which form of money to use in daily expenditures. This power of choice afforded to the consumer by way of a private cryptocurrency market, will enable a profound change in the way people view money and a higher overall quality of money.

[shinratensei_]

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When it exists in the private domain, money itself becomes a product of innovation. Unlike public, central bank controlled money, bitcoin and the emergence of cryptocurrencies shift the function of money to the private domain where the market demands continuous innovation. The power of choice given to the consumer by private money, allows users to choose which form of money to use in daily expenditures. This power of choice afforded to the consumer by way of a private cryptocurrency market, will enable a profound change in the way people view money and a higher overall quality of money.

with the progress of time, the human is be sued for holding the next development from the previous innovation, such as money... in the old centuries the human just using doing a trading without money.... and exchanging their product into the product of the another human's made. and a birth of money is already a great innovation at the time. and a lot of the time is passed the human will need the another development from the old innovation to be a fresh innovation. this is the era of crypto development a new innovation from the old innovation like money.

[groll]

in this sense it is still a legal tender in the developing countries, in addition to digital money is still being developed in several countries, not many people know about bitcoin and as product innovation will continue to be developed in the near future, I think bitcoin this is more effective and efficient.

Well,  No money innovation would be complete without mentioning cryptocurrency and there’s no space here to explain how bitcoin works. But much like Tide, salt, stones or many of the other weird things we’ve used to represent value; users of Bitcoin agree on it’s worth due to the transparent technology it is built on. The original invention of money allowed people to ascribe value to a person.

[clickerz]

Well,  No money innovation would be complete without mentioning cryptocurrency and there’s no space here to explain how bitcoin works. But much like Tide, salt, stones or many of the other weird things we’ve used to represent value; users of Bitcoin agree on it’s worth due to the transparent technology it is built on. The original invention of money allowed people to ascribe value to a person.

Well, bitcoin is  fast becoming a standard currency on the internet. Money is a medium of exchange so is bitcoin. Aside from money we can say that bitcoin is also a product of innovation, invented out of necessity against the middlemen etc.

[streazight]

Well,  No money innovation would be complete without mentioning cryptocurrency and there’s no space here to explain how bitcoin works. But much like Tide, salt, stones or many of the other weird things we’ve used to represent value; users of Bitcoin agree on it’s worth due to the transparent technology it is built on. The original invention of money allowed people to ascribe value to a person.

Well, bitcoin is  fast becoming a standard currency on the internet. Money is a medium of exchange so is bitcoin. Aside from money we can say that bitcoin is also a product of innovation, invented out of necessity against the middlemen etc.

Yes bitcoin must be the latest innovation in the series of medium of exchanges. Human race had different type of medium of exchange in their different era. Just to suit for the modern digital requirements now we are having bitcoin system, must be another great innovation of human race.

[raven7886]

Well,  No money innovation would be complete without mentioning cryptocurrency and there’s no space here to explain how bitcoin works. But much like Tide, salt, stones or many of the other weird things we’ve used to represent value; users of Bitcoin agree on it’s worth due to the transparent technology it is built on. The original invention of money allowed people to ascribe value to a person.

Well, bitcoin is  fast becoming a standard currency on the internet. Money is a medium of exchange so is bitcoin. Aside from money we can say that bitcoin is also a product of innovation, invented out of necessity against the middlemen etc.

Yes bitcoin must be the latest innovation in the series of medium of exchanges. Human race had different type of medium of exchange in their different era. Just to suit for the modern digital requirements now we are having bitcoin system, must be another great innovation of human race.

Yes, the evolution just continues.
I believe before currencies human race must have decentralized medium of exchanges like gold or other rare metals or things and they were comfortable and successful with their medium of exchanges. Bitcoin must be just a replica of gold and it will also have all the possibilities to join this series of product of innovations.

[deisik]

Yes, the evolution just continues.
I believe before currencies human race must have decentralized medium of exchanges like gold or other rare metals or things and they were comfortable and successful with their medium of exchanges. Bitcoin must be just a replica of gold and it will also have all the possibilities to join this series of product of innovations

If Bitcoin is set to be just a replica of gold, where is innovation here?

When it exists in the private domain, money itself becomes a product of innovation. Unlike public, central bank controlled money, bitcoin and the emergence of cryptocurrencies shift the function of money to the private domain where the market demands continuous innovation. The power of choice given to the consumer by private money, allows users to choose which form of money to use in daily expenditures. This power of choice afforded to the consumer by way of a private cryptocurrency market, will enable a profound change in the way people view money and a higher overall quality of money.

I don't really think that you can somehow innovate the concept of money itself. It has been there since ancient times when physical objects like grain, cattle, sheep had been used as a means of exchange. In other words, it is already set in stone. Apart from that, commercial banks are also existing primarily in the private domain, and while they are still using fiat controlled by the Central bank, they are basically free in "innovating" money...

For example, payment cards can be considered as one such innovation (when they had been introduced)

[Victorycoin]

in this sense it is still a legal tender in the developing countries, in addition to digital money is still being developed in several countries, not many people know about bitcoin and as product innovation will continue to be developed in the near future, I think bitcoin this is more effective and efficient.

Well,  No money innovation would be complete without mentioning cryptocurrency and there’s no space here to explain how bitcoin works. But much like Tide, salt, stones or many of the other weird things we’ve used to represent value; users of Bitcoin agree on it’s worth due to the transparent technology it is built on. The original invention of money allowed people to ascribe value to a person.

That's right, the transparency of blockchain technology is a very strong point for bitcoin and people have really been yearning for this change  and not knowing even what to do until bitcoin showed up and the increasing number of user base is a clear indication of acceptability. Worries about its future price is unfounded because bitcoin has got intrinsic values that are strong enough to keep it attractive to traders and speculators alike and for that we can expect the price would rather appreciate than otherwise.

[raven7886]

If Bitcoin is set to be just a replica of gold, where is innovation here?

An innovation does not need to be a complete alien thing.

Gold was a successul medium of exchnage of olden ages. So, obviously its replica may get more possibilities for similar success. I meant to say, if money is a product of innovation, then a latest inclusion in that series must be bitcoins.

When centralised currencies are in dominance, bringing up decentralized assets (even if it is an existing one) must be an innovation.

[n0ne]

If Bitcoin is set to be just a replica of gold, where is innovation here?

An innovation does not need to be a complete alien thing.

Gold was a successul medium of exchnage of olden ages. So, obviously its replica may get more possibilities for similar success. I meant to say, if money is a product of innovation, then a latest inclusion in that series must be bitcoins.

When centralised currencies are in dominance, bringing up decentralized assets (even if it is an existing one) must an innovation.

That's true, bitcoin being decentralized and getting such a big acceptance and adoption is just due to the uniqueness it has got. Without doubt bitcoin as a currency and alternate investment is truly a best innovation of the modern and digital world.

[yayayo]

The whole power of governments and banks depends on coercing citizen only one form of "authorized" money, whose properties and supply is under their control. This makes it a lot easier to control people and collect taxes from their subjects. Therefore people are not free to choose the form of money that is the best for them. A free market for money does not really exist, issuing private money can even lead to imprisonment.

Luckily, Bitcoin is a private form of money that cannot be easily banned by governments. Its decentralized nature makes it very hard to exert control over its monetary properties and its users. So Bitcoin has a real chance to become the first well established currency that is based solely on the free choice of the people.

But we as a community must remain highly vigilant regarding attempts of the ruling class to infiltrate the system. Gavin Andresen's visit to the CIA should be a warning, as should be the attempts of Andresen together with Mike Hearn and Roger Ver to establish a decentralization hostile bigblock scheme.

ya.ya.yo!

[hisuka]

Well definitely bitcoin is a product of innovation. Invention is the sand,
its so easy to create and build new things if our objective is to make
money. Since bitcoin if fastly rapid growing in industry.

[n0ne]

From the early days of human beings existence or civilization money has been created for their needs based on certain regulations, which eventually got various forms from stone coin to digital form based upon the development happening with the human beings but the quality or standard seems to be the same and doesn't change as OP mentioned.

[Qartersa]

The problem with this is that even if the control shifted to private, we could not still spend our hard earn Bitcoins in the real world unless what we are spending it on accepts Bitcoin itself. We always have to exchange our Bitcoins to Fiat first before we can consider it as earnings we can spend. But regardless, Bitcoin is an innovation in finance that would change the world, and the world does not know it yet. It's just a matter of time before the world accepts it as it is.

[Kakmakr]

The true innovation for me, is the removal of the barrier to entry that was created by current financial systems. The unbanked of this world, can now enter the global financial systems, without a barrier. You can now exchange value in small quantities between countries, without having to go through third parties with high fees. < If you use it directly as a P2P payment network >

The innovation is born from the easy access and the smaller fees. This allows more people to take part in the cycle of money.

[deisik]

The whole power of governments and banks depends on coercing citizen only one form of "authorized" money, whose properties and supply is under their control. This makes it a lot easier to control people and collect taxes from their subjects. Therefore people are not free to choose the form of money that is the best for them. A free market for money does not really exist, issuing private money can even lead to imprisonment

It is not so much about issuing private money that could lead to imprisonment as putting this money into wide circulation which is problematic. Promissory notes as well as bearer bills are also a sort of money which are allowed by most governments, but their circulation is limited mainly due to the lack of appropriate payment system which would allow to use them as a full-fledged currency. On the contrary, Bitcoin is money itself, and at the same time it is also a payment system in its own right. The latter is what makes it really unique and distinguished from other forms of privately issued money...

In this way, it can be said that Bitcoin hits two birds with just one stone