Bartering in The Beginning & Cryptocurrency Before Apocalypse
Pic Source
Before to answer, let us take a closer look at:
The purpose of money:
- Buying and selling goods, products, services, labor, etc.
- To measure objects of value.
- To facilitate economical actions.
- Facilitating taxes, international business and so.
- For complex actions, like loans, mortgages and more.
Where money came from:
Economists define money as anything commonly accepted by people for the exchange of goods and services. Although every country has its own system of coins and paper money, other things can also often be used as money. For example, farmers may Barter with each other, trading a certain number of animals for certain products or services. In that case, animals would be used as money! In fact, bartering was the way people exchanged goods and services from the earliest days of human beings on Earth. If you grew rice, for example, you could trade bags of rice for the other goods and services you needed. Over time, though, bartering wasn't always possible. Sometimes people couldn't agree on what goods were worth in exchanges. In other situations, people simply might not want to trade for what you had available. These situations led to the development of commodity money. Commodities are basic items used by almost everyone. In the past, popular commodities included cattle, and seeds. Using these items of money alleviated some of the problems of bartering. However, using commodities raised other problems. Commodities weren't always easy to transport and often they were perishable to store. These issues with commodities led people to create coins out of precious metals to use as money.
Looking at history:
The trade between people when they lived in small groups, going from one hunting ground to another was very direct and relatively simple. Almost all trade was done by physical exchange of living goods or goods of value. But a great many trades were done by delivering labor, support, care and of course sex. Gold, silver and more, like colored stones or things with a specific shape were used but only in rare circumstances. After the domestication of cattle and the start of cultivation of crops in 9000-6000 BCE, both livestock and plant products were used as money.
Who invented the coins:
Around 700 B.C., the Lydians became the first Western culture to make coins. Other countries and civilizations soon began to mint their own coins with specific values. Using coins with set values made it easier to compare values and trade money for goods and services.
Pic Source
Pic Source
President Lincoln first introduced paper currency on February 25, 1862, It was originally used to pay expenses incurred by the Union during the American Civil War.
Pic Source
Do you think paper money will be replaced by crypto-currencies in time?
The answer is yes. Money appeared in when the first gold coins were created in Greece and it has this characteristics:
long periods of time."
We can observe that gold, Bitcoin, and many cryptocurencies have got this property but paper money which is called fiat currency haven't got this one because it is constantly printed through the infinite. This cause the devaluation and the reduction of the purchasing power of the people. This caused that every Fiat currency in the whole history ended up worth nothing.
paper money sooner or later."
You Are Never Left Alone
@lordoftruth
Keep Steem Free From Racism --> More LOVE Energy is Needed.
Time to Buy Steem Power --> HardFork Velocity HF20.
What You Know About --> Syrian Civil War.
If You Are New Steemain Read --> Get Started Fast with Steemit.
Steemit is Beautiful Because of YOU --> Great Support & Generosity.
If You Want To Promote Steemit --> Use Celebrities's Album.
If You Feel Invisible on Steemit --> Come and hang with us.
If You are New in Forex --> Read Forex Education Center / Volume I.
Every comment, every upvote, every support is really appreciated.
Thanks For Reading
Fiat money has already lost more than 90% of its value since it was invented, even the strongest ones like the British Pound and US dollar too. Cryptocurrency is a revolutionary idea of money and more and more people will soon realise it.
Well said
Thanks for support
Your posts are good hence why I added you to my steemvotters.com ...wish you more success and hope that your health has improved
Thank you @charles
Still have pain for 2-3 hours per day ( afternoon or Night)
the reson why I can not reply or i leave comment sometime
As when the pain start .. I can not write or read
Thanks for asking
By the way I did know anything about steemvotters.com
Will be great if you tell me more about it
It would be funny to go to the market and buy a milk with 0.0000001 of something
You know I do not use cash..
The last time was to shopping for some goods, I paid 0.001 BTC using my xapo card..
So who know what will be the price of 1 kg of milk after few years..
I think it's going to be funny... if all my money is in my pocket and I control it.
And then I suddenly get a phone call from the bank, and they ask me to meet with them because they want to get a loan from me.
My personal opinion is that coins would work a little differently. Each commodity would be valued with its own coin. As an example a litre (or quart) of milk would be 1 Milk_Coin. The entire supply chain (internationally) would be linked to the value of this coin. The reason for this is that it encourage a form of supply management. Milk producers want to have a fair price for their milk. Milk consumers want to have a fair price but without price fluctuations. One time I went overseas for three months and the price of milk had double in that time. I was aware of it because of the "sudden" change but regular consumers missed it because the price of milk had risen incrementally (like the frog in the pot of water). Having a commodity based coin establishes a fixed quantity of milk supply.
The second aspect of this is that you would have a community coin. This would be a coin that would be used only in a certain community. The municipalities would require inhabitants to pay for services using this coin. Much like GDP, this puts a value to the internal economy of that particular municipality. It also increases the velocity of money within the community. Today people work, buy things in large retail chains and the money immediately leaves the community. Increasing the velocity of money means that the money will recirculate - allowing equity to build - within the community. It stimulates small businesses as well. Another aspect is that it allows programs like Universal Basic Income be administered locally.
While it might seem to be a little complicated it would actually be fairly seamless. Yes in your basket you might need to pay 1 milk_coin, 12 egg_coin, 1 bread_coin (etc) on the shelf it would be priced in local currency but at the check it would automatically convert the local currency into the requisite commodity coins (marking the transaction on the appropriate blockchains).
And history will repeat itself.
Paper money was used because it was easier to carry than gold and silver, this is where the greedy banks come and into the picture, people would put their gold and silver in a safe place, a bank to show you had gold or silver, in which you got a receipt or paper certificate like the ones in the article by Lincoln, for that gold and silver.
The bank realized it had so much that it could loan out some, surely everyone wouldn't rush in for their gold at once.
And her we are full circle, with a fiat dollar printed out of thin air, based on the sweat off your back pretty much and you signature to pay it back. Then they lend out 90% value of your loan out and rinse repeat.,
This cannot go any longer, but they want control and are trying to.
Many say it won't happen but I say gold and silver will go a lot higher, and a gold backed crypto will be established.
People can trade in their bitcoins for real gold, or a gold certificate, they will have the option of risking getting it hacked or storing it "safely" in their possession.
Either way the Dollar is done and it's time to realize to find alternatives to take advantage of this once in a lifetime oppurtunity.
There is risk in everything, choose wisely grasshopper!
They do reduce the amount of fiat money sometimes. I'm sure I remember the UK did it, either late 90's or before 2007. Unfortunately, they always seem to end up printing more, every time there's a crisis. The way so many banks were bailed out after acting like casinos was a disgrace but it's helped Bitcoin, so hopefully some good will come of it.
A good artilcle overall, but it contains an error...
Lincoln did not invent paper money as your wording suggests. Paper money was first used in China around 600 AD
Thanks for correction
Friend! You have elaborately and beautifully describing the whole economic system from time immemorial to modern times... Of course, it has seen the possibility, that cryptsos will one day takes place of fiat currency... It will be benefited from some directions.. I, e it will gain the durability, chippest gaining, and it will be helpful for building a strong bond between different countries.... Thanks again friend..
I think crypto currencies can change and success my future....bcz....always crypto currency grow day by day...
We always try buy and hold crypto currency...
Great analyse by @lordoftruth
Wel done my dear friend....
Cheers~~~~~
This is difficult to say. But it could happen. You'd be silly not to consider the possibility.
I personally believe that we're still a long way to getting there, but even if the tokens won't replace traditional currencies in the next 5 years, I still believe that they will grow bigger and stronger and hold a really important chunk of the pie.
Congratulations @lordoftruth
MinnowsPower listed your post "Bartering in The Beginning & Cryptocurrency Before Apocalypse" as one of the top 20 posts of the day...!!!
Ages of currency, new age of crypto currency and compression of crypto currency and paper currency well explained in this article.
MinnowsPower is not a bot, I am a Crowdfunding Hybrid
One small UpVote of Yours build MinnowsPower and MinnowsPower will Not Forget Your Support...!!!