What makes a currency meaningful?

[yldouright]

Einsteinium News
The very fact that it is so low profile makes it fail the requirement specified here. As far as its philanthropy is concerned, how are the 'good deeds' arbitrated?

[yldouright]

Governments are like parents. When they're good they can make life alot easier for everyone but when they're bad, well, we have history to instruct us. The problem we have nowadays is that even if good people get into a position to govern, they don't have the power. That power has been usurped by mulitnational interests who have found an end around the democratic process and have taken the sovereignty from the people who fought for it. Indeed, they now instigate the wars when it suits them in their pursuit of the new world order. The banks are only one of the vehicles in this process but perhaps the most critical to correct. The best way to correct the banks is to compete with their currency and the direction taken so far is the right one but widespread, global adoption is critical and mechanisms must be in place to assure that this cryptocoin does not just become another evil. I believe this is achievable and have suggested a current coin on which to model after or build upon. Here are the features this new coin should have:
1. Limits on accumulation.
2. High efficiency for both transactions and network loads.
3. A useful function like maintaining a cryptographic library of all the worlds documents.
4. An unerasable audit trail of transactions and a built in mechanism for public policy decision making.
These are the top priority characteristics for a currency that can fix the world. There are many ways to mess these up in their implementation but if done properly, humanity can be saved many of its currently manufactured ills. It should be obvious to most reading here why the feature list above is critical but if anyone needs a clarification of what these features will address, the discussion herein is likely to bring them to light. I will certainly do my part.

[jaysabi]

Governments are like parents. When they're good they can make life alot easier for everyone but when they're bad, well, we have history to instruct us. The problem we have nowadays is that even if good people get into a position to govern, they don't have the power. That power has been usurped by mulitnational interests who have found an end around the democratic process and have taken the sovereignty from the people who fought for it. Indeed, they now instigate the wars when it suits them in their pursuit of the new world order. The banks are only one of the vehicles in this process but perhaps the most critical to correct. The best way to correct the banks is to compete with their currency and the direction taken so far is the right one but widespread, global adoption is critical and mechanisms must be in place to assure that this cryptocoin does not just become another evil. I believe this is achievable and have suggested a current coin on which to model after or build upon. Here are the features this new coin should have:
1. Limits on accumulation.
2. High efficiency for both transactions and network loads.
3. A useful function like maintaining a cryptographic library of all the worlds documents.
4. An unerasable audit trail of transactions and a built in mechanism for public policy decision making.
These are the top priority characteristics for a currency that can fix the world. There are many ways to mess these up in their implementation but if done properly, humanity can be saved many of its currently manufactured ills. It should be obvious to most reading here why the feature list above is critical but if anyone needs a clarification of what these features will address, the discussion herein is likely to bring them to light. I will certainly do my part.

It seems to me limits on accumulation prevent it from being widely adopted. If as a technical limitation there is a limit to how much wealth you can have accumulated in the coin, why would you even bother with it in the first place?

[yldouright]

It seems to me limits on accumulation prevent it from being widely adopted. If as a technical limitation there is a limit to how much wealth you can have accumulated in the coin, why would you even bother with it in the first place?

It depends upon where the limits are placed. How much more valuable should one human being be than another? This is the philosophical question that all of us need to settle within ourselves before we can move forward as a species. Once you have wealth enough to ensure sufficient comfort for yourself, your progeny and theirs, all other accumulations are about power and/or some other perniciousness.

[jajaja]

People who think it has value . At the end of the day things like paper money and bitcoin are kind of useless without people who buy into the concept that these papers or code are more valuable than something like a BMW. Or a handy in the bathroom at Subway.

[username18333]

It seems to me limits on accumulation prevent it from being widely adopted. If as a technical limitation there is a limit to how much wealth you can have accumulated in the coin, why would you even bother with it in the first place?

It depends upon where the limits are placed. How much more valuable should one human being be than another? This is the philosophical question that all of us need to settle within ourselves before we can move forward as a species. Once you have wealth enough to ensure sufficient comfort for yourself, your progeny and theirs, all other accumulations are about power and/or some other perniciousness.

In a world where the things we need and use go bad, sharing comes naturally. The hoarder ends up sitting alone atop a pile of stale bread, rusty tools, and spoiled fruit, and no one wants to help him, for he has helped no one. Money today, however, is not like bread, fruit, or indeed any natural object. It is the lone exception to nature’s law of return, the law of life, death, and rebirth, which says that all things ultimately return to their source. Money does not decay over time, but in its abstraction from physicality, it remains changeless or even grows with time, exponentially, thanks to the power of interest.

[grendel25]

The ubiquity of the currency.  That's why digital currency is so meaningful already and will become second nature very soon as it already is.  Think about all the people paying for their starbucks with their phone.  Everytime I'm in the drive through at starbucks everyone has their phone out.  That will transfer to other markets and already is.  This is the true beginnings of the transfer from paper or plastic to purely electronic.

[username18333]

The ubiquity of the currency.  That's why digital currency is so meaningful already and will become second nature very soon as it already is.  Think about all the people paying for their starbucks with their phone.  Everytime I'm in the drive through at starbucks everyone has their phone out.  That will transfer to other markets and already is.  This is the true beginnings of the transfer from paper or plastic to purely electronic.

Your sample does not account for those that brew their own coffee, or, even, those that patronize the establishment on foot.

[grendel25]

The ubiquity of the currency.  That's why digital currency is so meaningful already and will become second nature very soon as it already is.  Think about all the people paying for their starbucks with their phone.  Everytime I'm in the drive through at starbucks everyone has their phone out.  That will transfer to other markets and already is.  This is the true beginnings of the transfer from paper or plastic to purely electronic.

Your sample does not account for those that brew their own coffee, or, even, those that patronize the establishment on foot.

lol!  Okay, well I've seen plenty of smartphones in-hand by folks on foot in starbucks.  And yeah... folks brew home at coffee too.  They also have groceries delivered to their doorsteps and a few have even had this service paid for by bitcoin!  The ubiquitous nature grows...

[username18333]

The ubiquity of the currency.  That's why digital currency is so meaningful already and will become second nature very soon as it already is.  Think about all the people paying for their starbucks with their phone.  Everytime I'm in the drive through at starbucks everyone has their phone out.  That will transfer to other markets and already is.  This is the true beginnings of the transfer from paper or plastic to purely electronic.

Your sample does not account for those that brew their own coffee, or, even, those that patronize the establishment on foot.

lol!  Okay, well I've seen plenty of smartphones in-hand by folks on foot in starbucks.  And yeah... folks brew home at coffee too.  They also have groceries delivered to their doorsteps and a few have even had this service paid for by bitcoin!  The ubiquitous nature grows...

How do you know it is not growing away from hierarchy, money, ownership, and tribalism entirely?

[yldouright]

How do you know it is not growing away from hierarchy, money, ownership, and tribalism entirely?

When all those 'network' activities are identified, recorded and available for sale we can safely say we are moving in the wrong direction.

[Ghostface]

What makes anything meaningful? People must have faith in it. If they do and there's a clear use for it then I think it is both useful and meaningful. I think bitcoin even excels because it's decentralized as opposed to being controlled by a central authority so to me it is even more meaningful than fiat.

[HeroCat]

Easy of use, low transaction fees and wallet safety - this can make currency meaningful 

[ObscureBean]

I know you probably mean well but as I said in a another thread, equality is literally impossible in a world borne of inequality. Everything you see around you exists because of power. Without inequality, we would still be living in caves today and I don't say this lightly. There needs to be 2 extremities for money to work/flow, the extremely rich and the extremely poor.
The societies of the world as we know it would crumble completely if everyone were equal. It is unavoidable.

[yldouright]

There needs to be 2 extremities for money to work/flow, the extremely rich and the extremely poor.

This is a false premise you have been indoctrinated with. Extreme wealth is not a product of great contribution but of an extraction process. If you don't understand this as the new reality, you will never fully understand the manufactured hardships/nuisances in your life. Extreme poverty mutes the vitality of a population, inhibits competition and progress and endangers everyones safety and well being. When you remove the ability to compete, you create rent takers and not innovators.

The societies of the world as we know it would crumble completely if everyone were equal.

I never said complete equality was possible or even desirable. Advantages must be given to the most able because without a reward system, there is no impetus for progress but it must be checked before it becomes what it has become today, a compendium of shadowy oligarchs doing as they will and perverting every democracy. Have you really considered the state of the world today?

[Possum577]

someone willing to accept it as payment for a good or service.

[BADecker]

What's the definition of "currency?"   

[username18333]

I know you probably mean well but as I said in a another thread, equality is literally impossible in a world borne of inequality. Everything you see around you exists because of power. Without inequality, we would still be living in caves today and I don't say this lightly. There needs to be 2 extremities for money to work/flow, the extremely rich and the extremely poor.
The societies of the world as we know it would crumble completely if everyone were equal. It is unavoidable.

(Colorization mine.)

Key: grey = “Peril: Tribe”, yellow = “Caution: Possession”, orange = “Warning: Money”, red = “Danger: State”


Everyone is equal by the measures begotten of state, money, possession, and tribe when these are not.

[username18333]

What's the definition of "currency?"  

“Currency” refers to a medium representative of “value [i.e., possession] given but not yet received” (common knowledge?). Currency is “meaningful” when it succeeds in this representation (i.e., it succeeds in the transmission of possession).

[arbitrage001]

A meaningful currency is a medium of exchange backed by community with healthy economic system (production and service).