Topic: Can civilization revert to a barter system - page 5. (Read 685 times)

Minting your own currency is illegal. It is possible that someday in the future minting your own digital asset could be illegalized.

This would leave a barter system the main available option in a scenario where people could not find CBDC support for their business, employment or financial transactions.

There have been faint rumblings of a cashless society being the vision for our future for many years now. If a cashless society and CBDC, is our vision for the future, people could be legally barred from minting their own physical or digital currencies. A barter system could become the only available option. Unless it too became illegalized.

I probably should have outlined this better in OP.

If a recession or crash is expected and high inflation occurs. Perhaps it would be worthwhile to begin some type of barter system platform. As an alternative in case other options go down.

Myanmar has recently had issues with banking and electronic financial services being shut down. On a side note, could it be worthwhile to have some infrastructure in place to support barter and trade in the event of a natural disaster or crisis which negatively affects electronic payment?

No way it would happen. The use of currency has been so ingrained in the heads of the people nowadays that you cannot really take it out of their system. There has been so much dependency on the idea of cash and currencies that it will be hard for people to do things the old way. The barter system still exists, although at a much smaller scale, and not mainly seen on basic necessities and such. People of today's time knows how "money" and "value" works, and would probably be haggling their way to the right trade if no other option but barter exists, and might even be a start of a lot of conflicts.

Not really.

I don't think that the problem is with currencies per se. Decentralized cryptos and precious metals are excellent stores of value and much more convenient than barter.

Barter is an archaic system. It could work on small scales but price discovery and liquidity would simply be way too backwards for it to actually work on a large scale.

Yeah it does still exist in some part of small country as well but we are definitely not going to revert back to barter system. Humans are evolving as we speak, in so many different aspect including monetary aspect so at some point the whole barter system is just going to disappear and people are just going to use currency as payment system


Probably not for now but by the time that everything is fully functional and ready to use, that would have been 10-20 years in the future so honestly those elders will be 'gone' by then

A barter system is incredibly dumb and such a wasteful use of resources, people created money to solve this purpose but you think it's a good idea to go back? Nobody is being forced to use CBDC's and they will sit alongside the current financial system instead of replacing it. The two extremes are not "stone age" bartering versus cutting edge CBDC blockchain currencies, there is lots of ground in the middle. Only in places like China will people be vulnerable to the whims of the government when it comes to cryptocurrency, just like they are already. In fact, I doubt we will see much uptake of these digital currencies created by central banks precisely because people do not trust them over the thousands of pre-existing cryptocurrencies that are much less vulnerable to manipulation by greedy politicians.

Unless a cataclysm occurred I do not think we will go back to the barter system, the barter system is the most primitive way we have to exchange goods and services and it depends heavily on the coincidence of wants, basically I need to want something you have while at the same time you need to want something I have and agree independently on how much of each product we should exchange for the exchange to be fair.

Money resolves this problem as everyone wants more of a medium of exchange you can use everywhere, eliminating the coincidence of wants, while it also acts as a unit of account in which everything can be priced against it, so while going back to a barter economy could be done at a small scale, I doubt any country or community above a particular threshold number can implement it successfully.

Somehow too many think only at big cities. Not all the population lives there.

Barter system still exist at a certain degree. There are still people who work for the food they receive and some extra goods (probably food/ingredients) to get home. At country side people can easily handle without paper money if they want to.

And imho no, central bank will not replace all fiat with CBDCs, that's not viable. There are plenty of people with poor or no internet. There are elderly people who are unable to learn the technology.
I expect CBDCs replace VISA/MasterCard as we know it, not paper fiat.

Returning to a barter payment system cannot be the way out in the current situation. The barter system has always been the most backward and has always existed before the invention of money, let alone paper money.
The stablecoins of the central banks of states will work even much more efficiently than conventional currencies, and therefore it makes no sense to go back to the prehistoric era.

Going back to the barter system is a hell no. CBDs is obviously what it is a total government surveillance tool to monitor, control, manipulate, decide and influence the monetary reforms of its citizens and with the exposure on cryptocurrency thus far there would definitely be a revolt in near future because this CBDC would become a treat to many but the Barter system would likely not be an option

The technology has made us advanced and we can make payments at the ease of one click but what's the fun of going back in time for the rebirth of the old payment system known as barter exchange? Suppose you want to buy rice meals but you have wooden plates at your home and you will have to find the person who will have rice meals and want to have wooden plates from you.For these kind of situations you need to fulfill the two conditions and this is not possible in the current scenario.We have more advanced technology like btc where you don't need to worry about double coincidence of wants and whatever you want just pay it with LN within few seconds and no third party involvement.So why think about traditional methods.

If we talk about CDBC then it's again central control and it's nothing else but just digital fiat and even if they use Blockchain technology they will not provide any freedom to you and moreover they are just tools to make government more profits and whenever they want to make changes in it they can.



Government and central banks are trying to make people fool with their CDBC launch while most of them are figuring out how to explore Blockchain technology and make it fully central control and what do you think they will do when they launch it or why do they fear bitcoin? They want only profits and freedom of funds is not a good option for them.You yourself needs to be aware about how to use money with security and safeguard yourself from rising inflation so have btc stacked.

Who are the society? They are like the government because most of them follow the government. Only few people are knowledgeable enough to know how CBDCs are, some people even do not care and encouraging others. If these kind of people see CBDCs more useful than fiat in one way or the other, they will even prefer to go for CBDCs over fiat while barter is not what they can even think to go back into, no more barter adoption.

There is nothing like the extinction of fiat, people have also preferred fiat since many decades ago, but knowing excellently that fiat depreciates, while CBDCs are not different in fucntion but also subjected to government control. What people are mostly care about is money, not privacy. Only few people that know about privacy care about it. People that do not want to use CBDCs will stick to fiat. Also I do not see how because of CBDCs, people will use barter to trade again. People prefer convenience.

Gold and the likes in the olden days before fiat make the world turning aways from barter, fiat further reduced barter, fiat won't extinct. If people do not want to use CBDCs, they will continue to use fiat. Most people do not even know there is privacy while making use of money all they know is to use money to do something that can make them earn more money.

Money was invented for a reason.The barter system was dumped by humanity thousands of years ago.
Anyway...
Let's dump money completely and go back to the prehistoric era of huntsman and gatherers living in the caves. This was the "good old days" of the human kind.Pure nostalgia.
No inequality.No god damn banks.No god damn money.No material possessions and consumerism.
What's not to like?
The barter system is awesome.I really want to exchange my chicken for a cow or a horse.I really hope that someone will agree on such trade.
Creating a barter system that is based on the blockchain?
Yeah,why not dump Bitcoin and watch the Bitcoin price collapse to zero.All the Bitcoiners will be really happy.
 

I completely agree with this.

I don't even know how Hydrogen came up with that idea. Bartering is typical of primitive societies and is impossible to practice on a large scale in modern societies.

You can exchange with another person one thing for another, but on a large scale, let's see how you exchange a piano for apples. Or for a mixture of apples, shoes and adhesive tape. You probably need those three things and someone else needs a piano, but the three things you need are not in the same person's possession, unless they barter beforehand to get what you want to give them the piano.

In short, no.

It's already coming back with the so-called "utility token" where users have to convert Bitcoin into racing token to play racing games, and then convert to monster token to play monster games, etc. What happens is users have to go to exchange quite often = inefficiency & volatility. It should be just using Bitcoin to play any games.

If you are de-platformed by CBDC then perhaps a barter system is your option.  De-platformed is like a monetary sanction to a business or an individual. If the CBDC can do this then there is really a reason to just buy BTC and keep buying to be prepared. There is a chance that countries that are democratic will turn into socialism.

Governments wouldn't be able to impose the CBDC overnight, just like China they were doing it first in a city and then gradually implement it in another. It may take more years for it to spread, some countries didn't have any plans yet for CBDC.
 

No! Barter based system is not coming back. Some people may choose to do it but that will never be widespread. CBDCs are a great tool for surveillance but a law abiding citizen doesn't have to worry about it. People with massive amounts of black money must get worried and rightfully so.

Corruption is a big problem in today's date. CBDC is an effective tool to end such corruption. It will simplify common people's life. Barter system is not coming back, rather there is a chance to reform society might be coming our way with CBDCs.

No matter what happens with banks or CBDCs, there's no way in hell a single country--much less the entire world--is ever going back to a system of barter. 

Money as we know it has evolved over centuries to become what it is today, and I see absolutely no reason why anyone would even consider taking a monumental step backward to implement a system that was like 100 steps removed from the present day in terms of that evolution.  There would have to be nuclear warhead strikes on a global scale for that to happen, and by that I mean the population would have to be reduced to the point where governments have been obliterated and there's no monetary system left.

If you want to barter, do it as a hobby with like-minded people.  It just won't work anymore as a generally accepted form of trade.

It probably wouldn't work either way. There's the argument that governments might like things being untraceable for a few reasons: one of the main ones being so their donors can launder money and I could imagine a lot of politicians may have bought "private" or potentially illegal things in the past they'd want to keep hidden.

A barter based system would rely solely on how much you trust other people though or how much they trust you (or the contacts of both) and possibly how much time they have when a CBDC could just automate everything.

Central banks have announced CBDCs (central bank issued digital currencies). Some have voiced concerns of CBDCs being tools of surveillance and control. If society experiences CBDCs and decides they do not like them, will it be possible to revert to a barter based system of trade?

A barter based system could be more susceptible to fraud and scams. Yet would allow for financial transaction outside of CBDC regulation. This could become a necessary step if some individuals and businesses are deplatformed by CBDC. Some businesses can only survive by paying workers under the table.

In practice a barter based system could function similar to ebay with an independent and reliable 3rd party form of escrow. (Blockchain based of course, we aren't complete savages and primitives  )

Could a barter system be a worthwhile form of trade past the year 2022. Perhaps the next big leap forward will be a retro move backward into the past.