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Author Topic: Evolution of money from barter system to crypto currency  (Read 516 times)
Findingnemo
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September 16, 2018, 04:22:24 PM
 #1


In the old age,few centuries ago people uses some money system which is called Barter system to buy and sell their products.This system works like exchanging their products between two people when they are in need but they realized that that system has flaws and not suitable for everyone since if there is no demand for one's product he can't buy anything he needs so later they moved to currencies (paper money) until now people uses this as their main form of payment but in digital format but people needs to understand that this also has flaw of centralization so we need to move to the decentralized money for better life.Lets get update ourselves to use the crypto currencies.

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September 16, 2018, 04:25:35 PM
 #2

and that might actually happen in the next few years
because we have to leave the old things to get new things that are more useful in the future Undecided
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September 16, 2018, 05:39:38 PM
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..people needs to understand that this also has flaw of centralization so we need to move to the decentralized money for better life...

I think the process has started and there is no turning back. Slowly but surely, more and more people will realize the importance of decentralized money.

People are just not educated enough, but this will change, for sure. Let me ask you, until 10 years ago, who was teaching the new generations about one of the most important question in their lives, which is: "What is Money"?

Nobody. Exactly. And they were just taking money (and how it works) for granted. But, now, it seems to me as if we are collectively awaking to the new reality of better, decentralized, sound money.
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September 16, 2018, 05:50:18 PM
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..people needs to understand that this also has flaw of centralization so we need to move to the decentralized money for better life...

I think the process has started and there is no turning back. Slowly but surely, more and more people will realize the importance of decentralized money.

People are just not educated enough, but this will change, for sure. Let me ask you, until 10 years ago, who was teaching the new generations about one of the most important question in their lives, which is: "What is Money"?

Nobody. Exactly. And they were just taking money (and how it works) for granted. But, now, it seems to me as if we are collectively awaking to the new reality of better, decentralized, sound money.
You were right we are in the beginning of crypto currency era,people started to realize that there is something problem with the centralized money but still lot of people don't have knowledge about the crypto currencies because no media conveys crypto currencies in the right way it is our job to educate the people about the crypto currencies and the benefits of decentralized currency over the current paper currency.
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September 16, 2018, 05:57:53 PM
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Probably, this process will be realized. However, in this process, the main problems are states. How will/do they approach to this process? This point is still uncertain.
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September 16, 2018, 06:03:00 PM
 #6

it is our job to educate the people about the crypto currencies and the benefits of decentralized currency over the current paper currency.
I agree. It is partly our job to educate them, and probably this is not that hard a job as well. Because I think that the new generations are naturally drawn to the crypto space. Look at them, they are surrounded by computers, laptops, and mobile phones all the time. So digital money will appeal to them in a natural way. The media (and older generations along with them) may resists for some time, but they will have no choice but to jump on the wagon too.
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September 16, 2018, 06:17:33 PM
 #7

Evolution will probably occur in the future, fiat currency will be replaced with crypto, therapy will all require a very long process, because change is not easy.
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September 16, 2018, 08:41:32 PM
 #8

Every century of our evolution is the progress associated with something very important.
Starting from the creation of a light bulb, a car, a train, a phone, a computer, the Internet and ending with cryptocurrency.
Every century brings to mankind a very valuable contribution that people should use correctly. In the 21st century, we have digital money. Let's just say the Internet has opened up the possibility of trading at a great distance and in a fast time. It's really amazing. The cryptocurrency can be much wider to increase opportunities for trade and marketing.
You're talking about decentralization. Yeah, that's a problem now. More and more States are beginning to infringe on ordinary people. Full control over accounts, money, actions. Banks and the state can know all about your movements. Which basically violates your Constitution. Freedom... she's gone, just like she used to be. Don't you think?
Therefore, money should really be decentralized, we should be able not to show everyone how much we have

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September 16, 2018, 09:17:28 PM
 #9

Every century of our evolution is the progress associated with something very important.
Starting from the creation of a light bulb, a car, a train, a phone, a computer, the Internet and ending with cryptocurrency.
Every century brings to mankind a very valuable contribution that people should use correctly. In the 21st century, we have digital money. Let's just say the Internet has opened up the possibility of trading at a great distance and in a fast time. It's really amazing. The cryptocurrency can be much wider to increase opportunities for trade and marketing.
You're talking about decentralization. Yeah, that's a problem now. More and more States are beginning to infringe on ordinary people. Full control over accounts, money, actions. Banks and the state can know all about your movements. Which basically violates your Constitution. Freedom... she's gone, just like she used to be. Don't you think?
Therefore, money should really be decentralized, we should be able not to show everyone how much we have

Showing somebody how much you have should be your choice, just as not showing should also be. The government's snooping eye extends into every aspect of our private life, not just the financial aspects. I am just glad that decentralized currencies like Bitcoin provide us with a way out.


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September 16, 2018, 11:25:56 PM
 #10

Your assumption are strange. I think that it is wrong to compare a barter deal with a transaction by means of any crypto currency. For me a barter deal stands for an exchange any production or service on another but a crypto currency is just some digital numbers in a computer. I can see a crypto currency in a barter deal like an analog of money or for accounting. I consider that crypto currencies are something like digital money or shares of a company.
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September 16, 2018, 11:52:33 PM
 #11


In the old age,few centuries ago people uses some money system which is called Barter system to buy and sell their products.This system works like exchanging their products between two people when they are in need but they realized that that system has flaws and not suitable for everyone since if there is no demand for one's product he can't buy anything he needs so later they moved to currencies (paper money) until now people uses this as their main form of payment but in digital format but people needs to understand that this also has flaw of centralization so we need to move to the decentralized money for better life.Lets get update ourselves to use the crypto currencies.


Barter trade was a thousand years ago. The money was not found 1 or 2 century ago. First use of money happened before birth of Jesus.
Economy need plenty of time for using crypto as a payment method. It isn't possible to change quickly a system which has been created for many years.

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September 17, 2018, 05:57:07 AM
 #12

Your assumption are strange. I think that it is wrong to compare a barter deal with a transaction by means of any crypto currency. For me a barter deal stands for an exchange any production or service on another but a crypto currency is just some digital numbers in a computer. I can see a crypto currency in a barter deal like an analog of money or for accounting. I consider that crypto currencies are something like digital money or shares of a company.
I am not comparing barter system with crypto currencies,I am just explained how the money system works thousand years ago and now and why we need crypto currencies for future.I just said the current paper money system also has flaws like that in old agae so we need to rectify it and move to the new currency system that is called the crypto currency money system.

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September 17, 2018, 10:57:08 AM
 #13

Fiat money, gold and precious metal standards and crypto currencies are all barter systems imo. I know economics academics might disagree with this notion. There isn't a massive or substantial difference separating a farmer exchanging 12 chickens for a goat or a consumer purchasing an internet domain name for 0.0005 bitcoins.

Introducing a happy medium of currency makes it easier for buyers and sellers to achieve a universal standard of barter item which can be utilized by everyone and exchanged for anything. This can result in markets which are more flexible and efficient which roughly translates to greater economic prosperity and wealth. Despite this innovation, financial transactions are still derived from tit-for-tat barter systems.

Some believe the US dollar has not truly been backed by gold since the guarantee of each dollar being exchangeable for its value in gold was removed as a legal protection in the 1970s. People are always looking for new evolutions and progress in terms of money. Unfortunately its often defined in terms of small players being afforded less protections and options, while big players at the top of the food chain are granted additional protections. Perhaps @ some point we'll define it in terms of a paradigm shift towards a more balanced approach. But it would seem that day has not yet come.

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September 18, 2018, 05:30:13 AM
 #14

Fiat money, gold and precious metal standards and crypto currencies are all barter systems imo. I know economics academics might disagree with this notion. There isn't a massive or substantial difference separating a farmer exchanging 12 chickens for a goat or a consumer purchasing an internet domain name for 0.0005 bitcoins.

Introducing a happy medium of currency makes it easier for buyers and sellers to achieve a universal standard of barter item which can be utilized by everyone and exchanged for anything. This can result in markets which are more flexible and efficient which roughly translates to greater economic prosperity and wealth. Despite this innovation, financial transactions are still derived from tit-for-tat barter systems.

Some believe the US dollar has not truly been backed by gold since the guarantee of each dollar being exchangeable for its value in gold was removed as a legal protection in the 1970s. People are always looking for new evolutions and progress in terms of money. Unfortunately its often defined in terms of small players being afforded less protections and options, while big players at the top of the food chain are granted additional protections. Perhaps @ some point we'll define it in terms of a paradigm shift towards a more balanced approach. But it would seem that day has not yet come.
Still many rich people not aware of the crypto currencies if they knows then they will get interested on investing on it which make the prices to move further but that is not the growth we wanted we want the people to use it because it can give the freedom of using their money on their own maybe the day not yet come but surely the day will come for that let's hold our hands together and make the bitcoin recognized by common man.

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September 20, 2018, 05:16:13 AM
 #15

-snip
Still many rich people not aware of the crypto currencies if they knows then they will get interested on investing on it which make the prices to move further but that is not the growth we wanted we want the people to use it because it can give the freedom of using their money on their own maybe the day not yet come but surely the day will come for that let's hold our hands together and make the bitcoin recognized by common man.
What makes you think rich people are not aware of cryptocurrencies ?
That is not a fact, just some assumption. However, like Hydrogen said, we are still in a system of trade by barter anyway, just that this time around, things are done differently and then we get to have a better way of doing things and transacting as the case may be.

For instance, I can imagine what it would be like when you are paying 12 chickens to someone for a goat, compared to how you can just easily make a transaction in either fiat or cryptocurrency for the goat. Simpler and easier ways of doing things, which is what the technology brings into the whole barter system.

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September 21, 2018, 10:49:02 PM
 #16

It was only very recently that people moved to centralised, fiat currencies.

Most of the world used some kind of commodity currency or commodity backed currency, usually in the form of precious metals like gold and silver. These are actually decentralised since no one can centrally manipulate their issuance.

Only in the 20th century did fiat currencies become a real global phenomenon (you could argue that gold certificates and silver certificates were already somewhat fiat before that), so bitcoin is really a reversion to decentralisation which has been proven to bring stability in value over many centuries. It's not a new concept economically, but it sure is digital.
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September 22, 2018, 05:22:18 AM
 #17

Fiat money, gold and precious metal standards and crypto currencies are all barter systems imo. I know economics academics might disagree with this notion. There isn't a massive or substantial difference separating a farmer exchanging 12 chickens for a goat or a consumer purchasing an internet domain name for 0.0005 bitcoins.

All these are exchanges, but you definitely can't call them barter. There is a reason why barters and fiat/monetary transactions are considered different. For a barter transaction, the farmer would need to find somebody who wants his 12 chickens and has something to offer the farmer, which the farmer actually needs. If not for money, finding such a person would take forever.


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September 22, 2018, 07:09:54 AM
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The history of transactions is like that, barter system is felt to be detrimental to one party and now paper money is regulated by the government so as the immunity  of users is very limited.

Actually, I wouldn't say paper money hasn't been suitable for use in the payment system, just as paper money was present when the barter system was running at that time. So as everyone chooses paper money because it feels fair when used as transactions. And now, Payment using a digital system is very crowded and even many people need it. Hopefully, cryptocurrency could be made a solution for everyone as a tool transaction.

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September 22, 2018, 07:45:07 AM
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In the old age,few centuries ago people uses some money system which is called Barter system to buy and sell their products.This system works like exchanging their products between two people when they are in need but they realized that that system has flaws and not suitable for everyone since if there is no demand for one's product he can't buy anything he needs so later they moved to currencies (paper money) until now people uses this as their main form of payment but in digital format but people needs to understand that this also has flaw of centralization so we need to move to the decentralized money for better life.Lets get update ourselves to use the crypto currencies.

That is usually the thing. The world keeps evolving, new innovations and technology keeps coming up every single time and all that matters at the end is the adoption of the new technology in the long run.

Over time, people will tend to realize the importance and the great benefit the blockchain technology brings and for the fact that paper money will be out of the system maybe in the long run, would certainly bring about newer ways of doing things like we are having it with some of us now.
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September 22, 2018, 07:51:53 AM
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In the old age,few centuries ago people uses some money system which is called Barter system to buy and sell their products.This system works like exchanging their products between two people when they are in need but they realized that that system has flaws and not suitable for everyone since if there is no demand for one's product he can't buy anything he needs so later they moved to currencies (paper money) until now people uses this as their main form of payment but in digital format but people needs to understand that this also has flaw of centralization so we need to move to the decentralized money for better life.Lets get update ourselves to use the crypto currencies.

in the case of transactions, of course, from time to time will have an evolution as you have mentioned from the last century where everyone transactions by means of a product. and now in the digital age I feel crypto will be the choice of everyone because there are many advantages that can be obtained by crypto method.

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