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Author Topic: Evolution of currencies  (Read 369 times)
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May 27, 2018, 12:15:33 PM
 #61

Currency is only a means of exchange

Actually currency represent wealth. It's hard to imagine without it, currency evolved from barter, to bartering with set medium of exchange. This trend seem set to continue and it is not unreasonable to assume that eventually physical money will be replaced entirely with electronic currency.
Talks on whether the paper money could be supplanted have began to surface as digital currencies gain popularity. Digital currency or cryptocurrency are limited entries in a database no one can change without fulfilling certain conditions, with cryptography used to secured communications.

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May 27, 2018, 12:19:18 PM
 #62

I think OP is missing the whole point of a monetary system. The point is to facilitate transactions, making sure they are easy to perform but still very secure so that you can't be ripped of. That's the reason gold got popular, and then fiat got even more popular, because it was much easier to carry around than gold, and banks got in the middle of it to make sure everything is secure.

With bitcoin, we actually get the scarcity of gold back to our lives, and we get easier and even more secure transaction than fiat, and we don't even need a middle man to make that happen for us.

So from this point of view, I would say evolution is playing it's role nicely.
Good point, with how bitcoin was created it will evolves and give the currency system to another level, the intentions of being decentralized and not even been controlled by the government is one of its features, bitcoin f being adopted will be a good lift for most developing countries it just not been fully understood that's why its not yet been supported by most countries all over the world, just needed to help this chain being promoted and give positive feedback so people will gather interest using it and let the government recognize its uses.

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May 27, 2018, 02:08:57 PM
 #63





I got curious when I read the title of this thread I really wanted to know the evolution of money/currency but when I read the post I'm so disappointed. I'm expecting some interesting facts about its origin from bartering goods to now digital age like the evolution of man from homo sapien to the modern age man something like that.

Quote
Then, humans exchanged commodities for gold. You couldn't eat it or burn but it was still possible to modify it.

* It was poor energy.


How could you come up with the idea that gold possible to modify will turn to poor energy? What kind of energy are you referring to? Aside from being a precious metallic element used to make pieces of jewelry, gold is a good conductor of heat and electricity - a kind of energy. The qualities of gold make it the top choice in various industries.
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May 28, 2018, 03:04:09 AM
 #64

Currency serves the treasure of the government and state. It use to give us a fair trading of goods or services. We got a lot of benefits from currency. So, don't underestimate it. Wasting of energy are those people who use it in a non-sense thing such as online games, videoke and etc. just to fill up their leisure time. We can't say it wasting of energy if it really helpful in our society.
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May 28, 2018, 03:48:38 AM
 #65

A long time ago, The human if needs somethimg, he can exchange his goods with the other goods that he wants. Then the times change, where someone can exchange gold with goods. Then the times change, where the humans can exchange goods with money, etc. The Change must be happen. I am sure that someday, Evolution of currencies will happen. It can be that The human will exchange the goods with crypto currency like bitcoin. And it happened in some countries. It will can be accepted in the world, sooner or later.
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May 28, 2018, 04:14:14 AM
 #66

The currency has undergone a parallel development with the early mankind's development of the coin-type coin that then became cash-based through the time people used pre-polymer and now has The emergence of digital currency was a natural consequence of the digital age
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May 28, 2018, 04:30:53 AM
 #67

First, humans exchanged commodities. You could eat it, burn it for energy, modify it to create tools or jewelry. You exchanged something useful for something useful.

* It was energy.

Then, humans exchanged commodities for gold. You couldn't eat it or burn but it was still possible to modify it.

* It was poor energy.

Then, humans used papers checks or bank notes. It wasn't very useful, but you still could burn it during a very cold winter.

* It was very poor energy.

Now, we wants to use Cryptocurrencies. You can't do anything with it.

* It is not energy but proof of destruction of energy.

Something looks wrong. We should exchange potential energy, not destroyed energy.
indeed many opinions about what the currency, if I think personal changes in physical form and value even the system in the development of the currency it depends on the development of the era and technology I think humans want to find something that is fast practical and efficient
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May 28, 2018, 05:43:50 AM
 #68

bitcoin has an intrinsic value of a person's trust level to bitcoin
so what you say is not that important i guess

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May 30, 2018, 08:05:16 AM
 #69

First, humans exchanged commodities. You could eat it, burn it for energy, modify it to create tools or jewelry. You exchanged something useful for something useful.

* It was energy.

Then, humans exchanged commodities for gold. You couldn't eat it or burn but it was still possible to modify it.

* It was poor energy.

Then, humans used papers checks or bank notes. It wasn't very useful, but you still could burn it during a very cold winter.

* It was very poor energy.

Now, we wants to use Cryptocurrencies. You can't do anything with it.

* It is not energy but proof of destruction of energy.

Something looks wrong. We should exchange potential energy, not destroyed energy.
From the ancient times, nothing is free, you have to pay something then only you will get something in return, this is the very common rule from the very ancient times but the mode of payment and the evolution of currencies has been occurred and in this flow of energy has been decreased and in today’s mode of payment the follow of energy is just ended. Earlier people use barter system where they exchange goods in exchange of goods then comes the exchange of gold and now money is given in exchange of goods and I think in future bitcoin will be exchanged.

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May 30, 2018, 08:08:48 AM
 #70

To have digital money as our currency today has undergone a number of creative shifts so that today we can interact with the digital technology as well as the technology. blockchain as today
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June 14, 2018, 03:42:31 AM
 #71

bitcoin is one proof that money evolved to follow the development of an increasingly advanced and modern human era requires faster and efficient transactions, of course, the main thing for business interests
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July 12, 2018, 01:43:02 AM
 #72

The "evolution" of currencies and transactions throughout the course of human existence tends towards optimization. The exchange systems (that is to say) become "shells" to standardize and facilitate exchanges. Snail shells are replaced by coins made from precious metals to control supply and ensure better value. Penalties are transferred to check sheets backed by precious metals for convenience. Later, the check sheets were separated from valuable materials and supported by the government to control money supply and inflation easier. Today, checks are used less when the currency is gradually being digitized.
Although barriers still exist at the political level, they are beginning to fail in society. Human effort to connect extends beyond political or organizational relationships; This struggle will promote the current monetary system, which is circulated by political and organizational institutions, to an inflection point where the user must decide whether to continue believing or abandoning it. The latter requires an alternative to move to the next currency system.
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July 12, 2018, 02:14:10 AM
 #73

Just as human history has evolved, money has evolved from the birth of coins to paper money and, later, polymer money and the pinnacle. The life of bitcoin will mark the modern day digital currency
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July 12, 2018, 02:31:46 AM
 #74

Let me provide you a timeline about the evolution of money:

Year 10,000 - 3,000 BCE
On this year, people utilized barter exchange wherein they exchange products from people. This was very difficult to maintain as no established value has been set to each commodity, thus making trades relatively unfair to some individuals;

From 7,000 BCE
Cuneiform tablets were published and it has been used as a tool for records and trades among individuals on that year;

600 -1,100 BCE
Gold and silver coins were introduced. This was the first form of currency wherein there has been an established set of value and amount since most of the coins have their innate value (made from precious metals and materials);

Year 1,100 - onwards
Countries utilized paper money as a standard unit of currency for uniformity and established value. The implication is that, there would have been a standard set of currency that would regulate and utilized in order to prevent inflation from happening. Currently, we use our currency to purchase goods/services and the value is dependent upon the gold reserve the country has; and finally

Year 2,000 onwards
The presence of digital money/cryptocurrency is slowly shifting towards the digital age. People are now using credit cards in order to purchase goods online and with the creation of bitcoin (the first ever cryptocurrency), this gave birth to the potential shift of conventional paper money to digitalize currencies once countries would accept its legalization and usage.

I personally believe that the world will slowly transcend and shift towards the digital age wherein individuals would use digital money in order to purchase goods. What made me believe on this idealism is the blockchain technology.

Source: How Money Works: The Facts Visually Explained
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July 12, 2018, 02:48:52 AM
 #75

Let me provide you a timeline about the evolution of money:

Year 10,000 - 3,000 BCE
On this year, people utilized barter exchange wherein they exchange products from people. This was very difficult to maintain as no established value has been set to each commodity, thus making trades relatively unfair to some individuals;

From 7,000 BCE
Cuneiform tablets were published and it has been used as a tool for records and trades among individuals on that year;

600 -1,100 BCE
Gold and silver coins were introduced. This was the first form of currency wherein there has been an established set of value and amount since most of the coins have their innate value (made from precious metals and materials);

Year 1,100 - onwards
Countries utilized paper money as a standard unit of currency for uniformity and established value. The implication is that, there would have been a standard set of currency that would regulate and utilized in order to prevent inflation from happening. Currently, we use our currency to purchase goods/services and the value is dependent upon the gold reserve the country has; and finally

Year 2,000 onwards
The presence of digital money/cryptocurrency is slowly shifting towards the digital age. People are now using credit cards in order to purchase goods online and with the creation of bitcoin (the first ever cryptocurrency), this gave birth to the potential shift of conventional paper money to digitalize currencies once countries would accept its legalization and usage.

I personally believe that the world will slowly transcend and shift towards the digital age wherein individuals would use digital money in order to purchase goods. What made me believe on this idealism is the blockchain technology.

Source: How Money Works: The Facts Visually Explained


this is true, unlike the OP saying that has no basis and only memilikin mindset only.
and clearly we do not need to bring the physical form of money to shop, it denotes digital money makes it easy for us to transact with each other.


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dmty.0809
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July 12, 2018, 03:03:50 AM
 #76

Who says crypto can not be used and make money? Instead they take advantage of digital currency technology. And they like it, can be used to buy goods or other needs.

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mabell943
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July 13, 2018, 06:59:11 PM
 #77

I think sooner or later in future the currencies in the cryptocurrency will be able to achieved a bigger slice of a cake wherein lots of people that are supporting them and still investing to them.

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nick_nick
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July 13, 2018, 07:10:18 PM
 #78

First, humans exchanged commodities. You could eat it, burn it for energy, modify it to create tools or jewelry. You exchanged something useful for something useful.

* It was energy.

Then, humans exchanged commodities for gold. You couldn't eat it or burn but it was still possible to modify it.

* It was poor energy.

Then, humans used papers checks or bank notes. It wasn't very useful, but you still could burn it during a very cold winter.

* It was very poor energy.

Now, we wants to use Cryptocurrencies. You can't do anything with it.

* It is not energy but proof of destruction of energy.

Something looks wrong. We should exchange potential energy, not destroyed energy.
I do side with you that currencies have undergone evolution. However, one can hardly establish a link between currency and energy.The changes seen from the barter system where goods were exchanged for goods till the era of cryptocurrencies are practically base on certain factors:
 divisibility
 equity
 portability
 convenience
Humans actually moved from the barter system to paper money due to the problem of divisibility. People rarely know the quantities of one good in exchange for the other and hence thought of an alternative way to ensure equity. This has however translated to the era where there are a lot of distant transactions and people thinks of digital money to make life easier and faster in the face of technology.

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July 13, 2018, 09:44:40 PM
 #79

everybody has got there own opinion but Regardless of whether it is in a type of fiat or computerized, I don't think we are squandering of vitality to it. Money is extremely useful in our economy. It encourages us to gauge the exchange either in import or fare. Cash serves the fortune of the administration and state. It use to give us a reasonable exchanging of products or administrations. We got a considerable measure of advantages from money. Along these lines, don't think little of it. Squandering of vitality are those individuals who utilize it in a non-sense thing, for example, web based recreations, videoke and so forth just to top off their relaxation time. We can't state it squandering of vitality on the off chance that it extremely accommodating in our general public
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July 22, 2018, 03:03:33 AM
 #80

The evolution happen to our currencies in the future are more updating the system, more advanced and modern human development, the transaction more faster than today and help us easily living life. Currency will change our life and world.

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