Posted on 08/05/2019 3:34:29 AM PDT by Paladin2
Money is one of the world's most widely used but least understood technologies. We often wonder how human society could have evolved—or even existed—without language. But could we have cooperated without money? Language enables us to share information, our inner worlds. With collaboration and trade, later improved upon by money, we share our value, in the form of our goods and services. Without people to use it with, money is powerless—and yet we live with the feeling that money holds a tremendous amount of power over us.
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This is Money 3.0, in which money comes from people.
Which people? The people who created Bitcoin. The people who created Ethereum. The people who created Facebook, now launching a cryptocurrency of its own called Libra. The people who created any of the thousands of cryptocurrencies available today, many of which function like money in that they can be given to another person in order to unlock their energy and receive their goods or services. That's exactly what makes money, money. And the ability to create it is now becoming open source, to people, corporations, organizations and communities—in a way that's never been possible before at scale.
(Excerpt) Read more at newsweek.com ...
“Money is now programmable, like software, and can be designed according to any criteria. Imagine a currency that is programmed to pay its taxes, bit by bit, with every transaction. Imagine a currency programmed to donate a tiny proportion of each purchase to charity, or to cleaning pollution. Imagine a currency used by a growing network of parents, allowing them to better meet each other’s needs even when traditional money is scarce.”
I’ve been buying gold stocks because of this trade trouble.
I think gold will go to 1,500 and then quite higher.
But how does one take advantage of this “new money” concept?
And those people who saw their bitcoin go from 30 dollars to 5,000 or whatever it went to, is that REAL money they can exchange into cash?
Thanks.
Will FED decisions impact Libra? If not, it hasn’t a chance IMO.
It goes beyond just money. Think of these new Supra-national corporations as “new countries” who will soon have all the advantages and benefits of a country with none of the liabilities. Even worse, they will (and are now) dictating to REAL countries. China trade is a problem of the past. We have a much, MUCH larger (IMHO) problem over the horizon.
Consider this, like Elon Musk, Bezos now has his own, private version of NASA.
The concept of money is evolutionary. Gold was mentioned in the article. Some of the earliest currencies were things such as salt or flint. These had value across tribes and cultures. I think the Romans may have been the first to use coinage that had international value and acceptance. Not sure and have no intention to spend further time on this though.
Bitcoin is ca$h. For those who believe it is. And they are currently manifold.
But if bitcoin is money, why is it measured in dollars? As is gold, and everything else.
Thank you.
I think I need to start with some basic articles.
I just keeping seeing and hearing about it more and more.
But I do not really understand it.
I don’t claim to understand the nuts and bolts but from what I do understand I get this much: remember the old “alt net” days and the Board for encryption, well, those people believed they had software that would enable a message to be encrypted which could only be read by the intended target. I remember pointing out to those retards at the time they were accepting software that was created by who knows who to perform as they believed when IMHO there was every reason to beleive the software was actually written by the NSA. Now they have applied that “PGP” technology or “blockchain” technology to a virtual currency. Seems too me they are potentially making the same failed assumptions. I have always believed that the real purpose of this technology was to essentially “point to” such message traffic for “special attention” by folks like the NSA. Not just as in “challenge accepted” but as in “feature, not a bug.”
It’s a foreign exchange thing.
Different money is typically expressed at the exchange rate.
The IRS tracks Bitcoin.
I think it is about control. Easier to control you, if everything is done electronically.
It just depends on who's doing the measuring and what they decide to trade in. US Dollars is common but certainly not required.
sigh
Money has an intrinsic value such as silver and gold coins.
CURRENCY is a representation of value. In just about every use of the word “money” in this article should be replaced with the word “currency”.
The US government does not operate on money. It operates on currency. There is no intrinsic value in the Dollar.
Bitcoin is currently $11,800 ish
Yes you can convert to US Dollars (or just about any other currency). Most FOREX exchanges are now trading in Bitcoin.
Wow.
So if you bought enough bitcoin when it was around 20 or 30 bucks, you’re a multimillionaire right now.
I heard rumors that it could once be bought for pennies.
That would be astonishing return.
Ain't THAT the dystopian future TRUTH.
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