Topic: Duration will replace btc/gold and scummy fiat (Read 357 times)

Unlike movies, you can't give somebody your time

Well, in fact you can (like in conversations or whatever), but there's no guarantee that anyone will be interested in your precious time at all (and it is more like spending time, not earning it). In this manner, there cannot be what we could loosely call a universal time or duration exchange. In other words, duration is not fungible, i.e. any unit or part of duration is different from another unit, and therefore it cannot be used as money

See, one bitcoin is still the same bitcoin no matter what wallet it came from. Technically, it is not quite so due to tainted coins (wallets) but it is still a safe assumption overall (and you can always use mixers if something). To sum it up, the whole idea seems to be stillborn as it has severe issues with fungibility, which makes duration not suitable to be used as money, end of story 

That is very correct the time the poster is trying to put up is an old era method were time is judge as an equal commodity to all, but the real calculator and determinant of time is it value. It true that we all have 24 hours a day but the value of each person time differs and so is the result of each person time.

Hey OP this is very interesting idea Timed mining is the answer or equal hashing power to a coin with no limit will solve poverty in the near future.

I for one can actually see how this could work and why it really is the only option in the future that I have been presented with that may work. I see what you mean by in the game how a limited supply only leads to death for all in the end. I played hunter-coin as well and in the start I was collecting coins by mining from the middle and bringing them back to base but it became to hard because someone coded a bunch of AI to instant kill you or other players when you tried to collect the resource, just like how machines and cooperation's are taking all the jobs today yes it is a dark future. I hope there is more minds like you in the world or we are doomed as a species. It is sad most only care about blockchain and bitcoin to turn it into more fiat I never made a account here because all of the post I see is some guy asking when the next pump is or speculating on price but you have inspired me.

I am sorry but your wrong, I am earning 2 types of cash and 3 types of crypto via duration as you read this. Yes there is systems that can dispense duration or time to addresses.
how do most faucets work?  it takes time to collect them, now if the faucet is dispensing a coin or token which represents time/duration it is creating, you now have a system in which can give tokens/coins which represent duration/time accumulated to anyone.

total recall is the best movie  

The OP watches too many hollywood sci fi movies. We can't get paid in time because it cannot be given by anyone. You can get time in a mining machine as payment or time spent staking

lol did the JFK comment get you? no, not a flat earther

just a free man, looking at your post you only care about the price about btc, are you a fiat slave?

Are you a flat-earther, OP?

Now, What makes Time an Unlimited but Limited resource?

We all create duration at the same rate, 1 second a second, and when you die you do not create anymore.

I have a lot of respect for fiat up until april 1933 in Canada and 1971 in America

The Canadian Dollar, among a long list of other currencies around the world, is no longer backed by gold. No gold, silver–nada is backing the value of the Canadian Dollar. The Gold Standard for the Canadian Dollar was officially abandoned on April 10th, 1933.

https://en.wikipedia.org/wiki/Nixon_shock
The Nixon shock was a series of economic measures undertaken by United States President Richard Nixon in 1971, in response to increasing inflation, the most significant of which were wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold.

who came after JFK the guy they killed, Nixon I wonder why

Fiat money first began to be used in China in the 11th century. Since then, it has been used by various countries, usually concurrently with commodity currencies. Fiat money started to dominate in the 20th century. Since the decoupling of the US dollar from gold by Richard Nixon in 1971, a system of national fiat currencies has been used globally.

THIS IS WHEN IT BECAME A SCAM AND SCUMMY BANKERS COULD EXPLOIT THE PEOPLE

You have Limited time, You have Limited goods, they have Unlimited fiat. stop getting scammed you`re trading something for nothing.

 A man once said "advance kasi ako mag isip" (I am thinking in advance) was high in marijuana and talking about things what marijuana could do to the human body. This is the same to the OP's case. He was so advance and thinking about it that he knows surely it will going to happen.

My Bad fiat is not a scam medium of exchange. It was the best method that has ever done to make the transaction smoothly done.

What stops capitalism in a time based currency?  
https://www.youtube.com/watch?v=zNtPVgblzWY seems she evolved past ego alpha age.

Even in the communist states, things are not equally distributed  . The world is specifically based on capitalism one way or the other, whether it is specified or not, that is how survival is based. The aliens might not have bordered but even in animal kingdom, some animals say they are greater than others. 

well you would not die, you would not just be able to forge more into existence you would either have to wait for more duration to be dispensed in your time bank via basic income or sell something/do work for someone and earn more credits.

just like how people are using bitcoin, they won`t be able to stop it and when people value the time credits over the fiat money what will there fiat be worth?

I am friends with over 200 farmers in the Toronto food terminal, one of the biggest fresh food markets in Canada, been going to the real market since I was a baby and selling all of my fruit within a few hours of being there the bankers and governments will comply if they want to eat my food/work, I will make sure of it. If you come to my stall and offer me fiat this year when the cherries and peaches are ready I laugh in your face.

Pierre-Joseph Proudhon did not have blockchain technology to disperse and keep track of time records, neither do any of these time banks at the moment.

The idea about a "time currency" isn't very original.It was invented by the french anarchist Pierre-Joseph Proudhon(as far as I remember) 2 centuries ago.
I have nothing against that idea,but it will never be implemented,because no government or central bank wants to lose it's power over fiat money.The rich elite's wealth is guarded by the governments/banks as well.Don't you think that all the oligarchs will be upset if such duration currency gets implemented?

fiat is a patent currency, which is structured. if directly replaced, it will certainly be an economic turmoil, that's where many governments still calculate the profit and loss from crypto legalization

This makes me think of the Andrew Niccol’s 2011 film, In Time, where people are given a specific amount of time, before they die and if you do something wrong, then time are deducted from the allocated time that are given to you.

In this movie, time replace fiat currencies and you can buy or sell some of your time to live longer or shorter. It looks like your suggestion is more in line with this science fiction action thriller film. 

Has there been any equal distributed currency in this world? It will still be a dream because the government won't allow such a thing. Have you ever realized that fiat is the only thing that makes a government powerful?

I rather work for a equally distributed currency that everyone can adopt without having any starting funds and have a equal chance to enterprise rather than work for another mans money supply. There is not a joke here, watch the simulation, everyone dies. It won`t be a dream it will be a reality and your grandkids and kids will be damn proud you stopped the slavery age. Yes it seems to good to be true except for when it is true.

https://www.youtube.com/watch?v=seqoOnr2ebU

To be honest this post makes me laugh so hard. You are just dreaming too far away in this case, out of your logic I guess. It is OK to be fanatic supporter of bitcoin but we should keep on our logic. Replacing fiat with bitcoin is possible but the chance is so low and it may take decades to happen. Probably we wont experience it when it happens.

yah hopefully it gets there, it`s otw.
https://imgur.com/a/gWq8Daj

I don't think this happens through bitcoin. Maybe the blockchain technology provides transparency on each and every activity happening in a constitution of everything is integrated through blockchain. This way can clearly find where the corruption has taken place, without that nothing is possible. By now very few politicians of third world countries were aware of cryptocurrencies, and if they knew better about the same, surely they'll request bribe in the form of cryptocurrency.

Why we are already talking about aliens on here? 

About on your wish, switching completely from current fiat financial system to fully adopted crypto isnt really that possible.We are optimistic with cryptos future
but it would really be just good on the way we are seeing it as of this moment.Sad to say that we do still much prefer that corrupted fiat system as of this moment.

Out of box thinking mate. We can able to use the bitcoins or altcoins to exchange with aliens or other living beings in the universe if we can contact them.
I wish BTC should replace the physical assets very soon for non corrupted solutions. That is what I wish.

Think about if we come in contact with Aliens from another planet, would they accept a currency printed out of thin air? would they accept another mans currency? would they accept gold even though they have no gold on their planet to trade back and our solar system has a abundance?  would they give up their time/goods and services for some random guys money supply? I think we have a better chance exchanging duration with them.

You can still enterprise with this system, you can obtain more duration in your time bank for working hard or running a business, no one needs to give up what they have earned and everyone wins in the end, humans win, bankers don`t have to live in fear and people don`t have to live with the burden of others raking in the wealth off their hard work.

Governments can not solve their debt with more debt. To let the money press roll, project debt in future. This practice has to stop. The only way out is not gold or bitcoin but time. As limited supplies in a growing population only lead to robbery or killing and in the case of countries war.

My first job I made 6$ an hour now its 14$ for min wage here, I used to be able to get my groceries for 10$ a week now it is 40$ for the same amount of food, my rent was 300$ a month now its 1400$ for the same amount of space, hyperinflation is here and soon you won`t even be able to bring a wheel borrow of money to buy your food.

China wins if we keep going this way, and they will end up killing each other in the end for their limited supply.
https://www.youtube.com/watch?v=jYJVG1fKnRo

seems like in this era of information/digital and crypto that it makes even easier to exchange time for time or duration for goods and services.  THANKS to Satoshi!


Duration is the monetary value and since everyone earns base income at the same rate (like welfare or disability) we have some ground to work with or https://www.ontario.ca/document/your-guide-employment-standards-act-0/minimum-wage

Monetary value is value in currency that a person, business, or the market places on a resource, product, or service. In fact, most goods and services in our modern economy are priced based on monetary value. Let's look at some examples of resources, goods, and services priced by monetary value:

    Commodities, such as precious metals, agricultural products, oil, gas, and other natural resources
    Tangible property, which is really any physical man-made thing, such as a computer, pencil, and art
    Intangible property, such as patents, literary rights, and publishing rights
    Land
    Certain legal property rights, such as gas, mineral, oil, timber, and water rights
    Services
    Labor, such as wages and salary
    And businesses

If we assume a perfectly competitive market and no government intervention on price, then we can say that the monetary price of a resource, good, or service is determined by the market according to the law of supply and demand.

My house is worth 5000 hours
My 1OZ of gold is worth 300 hours
My chair is worth 30 minutes
My back message for a hour is worth 1 hour
You want to work for me on my farm? instead of me paying you 14$ an hour (min wage here), I pay you 1 hour an hour out of my duration I have accumulated via a time banking system. You are doing a good job and want a raise after 3 months ok I will pay you 1 hour and 30mins per 1 hour you work.

I know it is scary at first, you never seen the light, you will come out tho and enjoy your new freedom soon enough.


https://www.youtube.com/watch?v=ExEjXLMd4VA

We are in information or digital era where people like to give a service quantified by a monetary value and not just duration versus material benefit. Have you thought of the availability of the material benefit even if one is ready to give his/her time or duration (as you explained it).

For the slavery system, that purpose is what cryptocurrency has come to ameliorate and not duration. Duration will become another hard labour 

https://community.timebanks.org/ seems there is duration trades going on right now.

so what era are we in now that makes this not possible? why could duration not be the means of exchange that is generally accepted by people?
The fact is duration can be the medium of exchange that is generally accepted by people and should be if they want to escape this $lavery $ystem we have been duped with by the bankers.

I would just say that impossibility can not be made possible. The scene you are trying to come up with is like back in the era of trade by barter. That time is gone, gone for good and will never come back.

There will always be a means of exchange that is generally accepted by the people because of the complexity of want and desire. Duration will face the challenges faced by trade by barter. Which is basically, want and desire.

https://www.youtube.com/watch?v=aB8ifVJ34JU
238 thumbs up, 6 bankers down

The main reason duration will replace the current money supply/fiat/btc and gold is because fair distribution is a problem!

We each make 24 hours a day, We each get 24 hours of duration added to our time bank or 1 second a second.

We go to work for 8 hours a day, why not get paid 8 hours instead of 80$ (or whatever the rate may be in this case 10$ an hour)
There is no need to convert time into another mans money supply just keep it as time.

"Well my time may be worth more than another and I should get paid more" (is the only response I get)

Well than you get more duration per hour

examples:
1. A good pair of shoes could be worth 20 mins, a bad pair of shoes could be worth 10 mins, it is up to the seller to chose the rate of duration they want to obtain from the buyer
2. A more experienced worker could get 1hour and 1/2 for 1 hours worth of work and a new worker could get the standard 1 hour rate per hour, this is up to the employer to decide how much time they would like to give out of their "duration bank"   (just like how they can pay someone 10$ and someone 25$ for the same or different jobs)

The next major reason duration will replace btc and gold is because this simulation will play out in real life.

start of mining (no one killing each other)
https://www.youtube.com/watch?v=Q41RW6bxpM4
end of mining (the only way to obtain gold or btc or in this case huntercoin is to kill another man)
https://www.youtube.com/watch?v=jYJVG1fKnRo

robots will take over the jobs farmbot.io will replace farmers, self automated cars will take away 3% of the workforce making it even harder to obtain btc/fiat or gold. We also need gold to go to deep space so lets not waste it on making it our currency.

In short: TL.DR, it is about TIME for a change.

universal basic income  

https://bitswift.cash/  earn 3 types of crypto for FREE cdn-ecoin, bits and salus coin via duration mining (now you no longer need to have a expensive computer or asic miner to obtain wealth just time *not to mention how much power we are wasting have you seen those bitcoin farms*?)
I really hope governments step up to the plate and offer this type solution to the public because it is just a matter of time before everything collapses on them.

o wait... we could get paid time and become part of the government by getting duration for voting on issues at hand instead of voting people to vote for us and paying them? well damn that sounds like a future job that everyone could have, get money to be part of the "real" democracy, that and I guess space exploration is endless that would be the other job  

anyways have a good day, just some food for thought, feel free to express how you feel about time as money I would like to know your thoughts


time is money -Benjamin Franklin