what's the function of money

what's the function of money

Created by Mike O Ellis on Mar 24, 2014

8 votes

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to buy

to pay debt

for lending

to create business

to help the needing

for loan

to pay bills

for registration of event

for revenue

to invest

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“New & Improved..”

Level 8

Since: Oct 07

Formerly From Kenya

#61 Apr 5, 2014
we used to be hunter/gatherers, now we are simply gatherers..the total breakdown is 9billion...2050...I would recommend a better strategy than 401k and mastering the apps on your iPhone..

Now money..might even be based on the H2O standard by then..

“WHERE BORN AN A-HOLE OR DID ”

Since: Mar 14

YOU WORK AT IT YOUR WHOLE LIFE

#62 Apr 5, 2014
greymouser wrote:
<quoted text>
So what's your money solution?
And you might want to take into consideration the rest of the world if you want to trade goods with things they can do pretty well.
Like producing cocoa or coffee or tea or bananas or coca leaves or panama hats.
The rest of the world would gladly take a currency that has an actual value attached to it... It would strengthen our dollar on the world market and that is the main point...

“WHERE BORN AN A-HOLE OR DID ”

Since: Mar 14

YOU WORK AT IT YOUR WHOLE LIFE

#63 Apr 5, 2014
greymouser wrote:
<quoted text>
So what's your money solution?
And you might want to take into consideration the rest of the world if you want to trade goods with things they can do pretty well.
Like producing cocoa or coffee or tea or bananas or coca leaves or panama hats.
I already gave you the solutions.. Back the damn dollar with something other than the whims of international banking families, debt, and blind faith..

“Right click Left click Yay!”

Level 7

Since: Dec 10

Nehwon

#64 Apr 5, 2014
FTW Forever wrote:
<quoted text>I already gave you the solutions.. Back the damn dollar with something other than the whims of international banking families, debt, and blind faith..
The dollar is backed.

By the full faith and credit of the US government.

You can pay your taxes, your driver's license renewal and your fishing license with a dollar or two or twenty.

And the US government pays out dollars on time.

And many, many parts of the world rely on the full faith and credit of the US government.

But I get what you are saying.

The US dollar may not be the stronghold of currency when there are many elected who wish to undermine it for their personal gain.

So what is the alternative currency? Euros? Yuan? Yapese Rai stones?

Since: Jan 13

Location hidden

#65 Apr 9, 2014
I predict a time in the future, perhaps not in our lifetimes, when all money will be virtual as we increasing move to live in a virtual world. Something along the lines of Bitcoin [and its family] is a taster of things to come. Money founded in perceived value and not in assigned value like gold. In some ways going back to days of trade and barter ...with everything given a value by those involved in the exchange of services/goods. Bticoin of course is just a form of currency which is founded on gold values when you take it back to source, but it's the beginning of the future and its successors could replace the tangible gold with the intangible and become the source of money. This has been seen for a long time in speculative dealings which are only that and don't have the solidity to back it up ...least not until there is some sort of returns on their faith

“Right click Left click Yay!”

Level 7

Since: Dec 10

Nehwon

#66 Apr 9, 2014
Velvet MJK wrote:
I predict a time in the future, perhaps not in our lifetimes, when all money will be virtual as we increasing move to live in a virtual world. Something along the lines of Bitcoin [and its family] is a taster of things to come. Money founded in perceived value and not in assigned value like gold. In some ways going back to days of trade and barter ...with everything given a value by those involved in the exchange of services/goods. Bticoin of course is just a form of currency which is founded on gold values when you take it back to source, but it's the beginning of the future and its successors could replace the tangible gold with the intangible and become the source of money. This has been seen for a long time in speculative dealings which are only that and don't have the solidity to back it up ...least not until there is some sort of returns on their faith
I must say, the Bitcoin experiment has been quite interesting.

There are elements of the gold standard. There's a fixed upper limit with the easiest supply already mined.

The are elements of security - fraudulent transactions can be quickly spotted but if you lose your wallet and failed to have a backup, you just mugged yourself. And this assumes you can trust the Bitcoin exchanges to be honest dealers.

The speed of making a commercial transaction is a big downer right now. And I don't see that improving if a lot more people get on board and the number of transactions to be certified increases at a huge rate.

And the really fun thing to think about is if Bitcoin or some successor ends up being a global currency, national governments are really going to be in a bind when it comes to managing their local economies.

And those bankers people rail against?

They'll just become the Bitcoin exchange administrators and secretly collude to set transaction fees and still bleed off the wealth.

And no national government will have the power to bring them to court. For if they try, the Bitcoin exchanges will shut down any transactions starting or ending in that country.

But that country could always appeal to many factions to force Muad'Dib and his Fremen to keep the spice, err, Bitcoins flowing.

I'm sure The Emperor, the Bene Gesserit, the Space Guild, the Ixians or the UN might be persuaded to join your cause. Provided you have enough Dogecoins...

Since: Jan 13

Location hidden

#67 Apr 13, 2014
greymouser wrote:
<quoted text>
I must say, the Bitcoin experiment has been quite interesting.
There are elements of the gold standard. There's a fixed upper limit with the easiest supply already mined.
The are elements of security - fraudulent transactions can be quickly spotted but if you lose your wallet and failed to have a backup, you just mugged yourself. And this assumes you can trust the Bitcoin exchanges to be honest dealers.
The speed of making a commercial transaction is a big downer right now. And I don't see that improving if a lot more people get on board and the number of transactions to be certified increases at a huge rate.
And the really fun thing to think about is if Bitcoin or some successor ends up being a global currency, national governments are really going to be in a bind when it comes to managing their local economies.
And those bankers people rail against?
They'll just become the Bitcoin exchange administrators and secretly collude to set transaction fees and still bleed off the wealth.
And no national government will have the power to bring them to court. For if they try, the Bitcoin exchanges will shut down any transactions starting or ending in that country.
But that country could always appeal to many factions to force Muad'Dib and his Fremen to keep the spice, err, Bitcoins flowing.
I'm sure The Emperor, the Bene Gesserit, the Space Guild, the Ixians or the UN might be persuaded to join your cause. Provided you have enough Dogecoins...
Dogecoins, yeah :)
I don't see it as an end I see it [Bitcoin et al] as a step in a long realisation process of a future economy
Bankers are already in on Bitcoin, have been from the start as they always will be... it's what makes them bankers to rail against... rich
They can shut down the transactions in that Country as you say but that would be giving in. Certain persons in certain governments have been wetting their pants over Bitcoin and they have retailiated by shutting down the sites that use Bitcoin along with a goodly spread of defamation, both of which have ruined a few

“No time like the present”

Since: Jul 08

to make it happen!

#68 Apr 13, 2014
The function of money? To be doled out in just enough doses to keep everyone from rioting.

“WHERE BORN AN A-HOLE OR DID ”

Since: Mar 14

YOU WORK AT IT YOUR WHOLE LIFE

#69 Apr 13, 2014
greymouser wrote:
<quoted text>
The dollar is backed.
By the full faith and credit of the US government.
You can pay your taxes, your driver's license renewal and your fishing license with a dollar or two or twenty.
And the US government pays out dollars on time.
And many, many parts of the world rely on the full faith and credit of the US government.
But I get what you are saying.
The US dollar may not be the stronghold of currency when there are many elected who wish to undermine it for their personal gain.
So what is the alternative currency? Euros? Yuan? Yapese Rai stones?
And there you said it perfectly.. You can hand it back over to the government to pay your taxes and fees. So it must be good. SMGDH

“Right click Left click Yay!”

Level 7

Since: Dec 10

Nehwon

#70 Apr 15, 2014
Velvet MJK wrote:
<quoted text>
Dogecoins, yeah :)
I don't see it as an end I see it [Bitcoin et al] as a step in a long realisation process of a future economy
Bankers are already in on Bitcoin, have been from the start as they always will be... it's what makes them bankers to rail against... rich
They can shut down the transactions in that Country as you say but that would be giving in. Certain persons in certain governments have been wetting their pants over Bitcoin and they have retailiated by shutting down the sites that use Bitcoin along with a goodly spread of defamation, both of which have ruined a few
Digital currency already exists. Banks and the government don't shuttle physical dollars and gold around. They update numbers on their balance sheets by wire.

So what is this future economy you see coming?

Since: Jan 13

Location hidden

#71 Apr 17, 2014
greymouser wrote:
<quoted text>
Digital currency already exists. Banks and the government don't shuttle physical dollars and gold around. They update numbers on their balance sheets by wire.
So what is this future economy you see coming?
LOL.
But it's based on dollar values, gold values...

I imagine a currency not based on anything physical like gold but having a value of itself.... way into the future

Level 9

Since: Jul 11

.

#72 Apr 17, 2014
&fe ature=youtube_gdata_player

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Level 7

Since: Dec 10

Nehwon

#73 Apr 19, 2014
Velvet MJK wrote:
<quoted text>
LOL.
But it's based on dollar values, gold values...
I imagine a currency not based on anything physical like gold but having a value of itself.... way into the future
That sounds pretty vague. Almost wishful thinking.

There are many things I dislike with our currency and the many, many derivatives games played with it.

So show me a better mousetrap.

But don't lose focus on the reason a currency exists - to make exchanging goods and services easy.

Wabbie

United States

#74 Apr 25, 2014
greymouser wrote:
<quoted text>
That sounds pretty vague. Almost wishful thinking.
There are many things I dislike with our currency and the many, many derivatives games played with it.
So show me a better mousetrap.
But don't lose focus on the reason a currency exists - to make exchanging goods and services easy.
No It's to make them taxable. It is about making taxing easy and banking necessary. It 's primary function is for governments to more easily collect taxes off of exchanges and gains and allow banks to have a way to profit handling those exchanges and gains.

“Right click Left click Yay!”

Level 7

Since: Dec 10

Nehwon

#75 Apr 25, 2014
Wabbie wrote:
<quoted text>No It's to make them taxable. It is about making taxing easy and banking necessary. It 's primary function is for governments to more easily collect taxes off of exchanges and gains and allow banks to have a way to profit handling those exchanges and gains.
That's a derivative of money.

The bankers provide a service. How much they should be paid for such a service is another question.

Taxes provide the revenue for public services. How much should be collected is another question.

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