Topic: Evolution of money from barter system to crypto currency (Read 815 times)
Making crypto currency as the main value is just a question of time. Yes, this proces of transition happened several times during all the history of the civilization.
Depending on which country you live in, it is possible that the next step in the evolution of money is happening right now. Although i think Iran will be more successful than venezuela
Cryptocurrency should not be seen as a crown in the history of the development of monetary relations, but only as one of the type of monetary relations in society. Cryptocurrency has many advantages, however, and some of its drawbacks. Therefore, it can walk in society only along with the national money of the states. All forms of cash payments are eligible for circulation and they will complement each other.
According to my understanding about Crypto currency was at first the global economy was maintained and transactions were carried out by commodity exchanges that is from barter system then to fiat and now to the crypto currency world. The transactions of Fiat currency are directly controlled by a central authority that is the bank or the government and is a centralized form of transaction . Now a new form of currency is introduced which leads the global community into a digital decentralized world .Bitcoin is the first crypto currency that started in the year 2009 by Satoshi Nakamoto . Bitcoin transactions are recorded in an electronic ledger with block chain technology with strong net work system incorporated with modern technology and it is an unavoidable part of Bitcoin for the proper functioning and ensures security and the clarity of Bitcoin so finally the block chain leads to a corrupted free world due to these specific features .
Innovations are really needed for everyone to survive and even thrive in this world. Animals do that on a daily basis, what more us humans who think ourselves the advanced species. I think more and more innovations are lying in wait for us in the Crypto currency front bring that it is happy New to everyone
The inevitable is the transition from cash to cashless payments, and then from fiat money to cryptocurrency.
Have you ever thought what can happen to the people, who need to buy something urgently, when the Internet or electricity is off, and they have only the cryptocurrency? Fiat will live always.
Everything that's good is abused and then loses it's most important pros. Bitcoin isn't as decentralyzed as it was meant.
Nothing in the world is completely decentralized, and never will be. Bitcoin is the closest to that what resembles decentralization. If you look at all the battles we went through, Bitcoin has proven to remain Bitcoin regardless of how much shit was thrown at it. BCash is the end product of a failed attempt to take over Bitcoin, which should tell you how strong it is.Great part about crypto is that toxic elements fork off eventually. BTC>BCH>BCHsv.
Silver coin -> Gold Coin -> Paper Money -> Digital Money -> Crypto currencies, still digital but on high level. What will be next?
Money will continue to transform, store of value not per se. Gold, while it may not have served up to its task as store of value lately, is still a store of value, and Bitcoin is the digital equivalent. We're working towards a global form of 'consensus' in the crypto world where even those who don't want anything to do with Bitcoin, still want to own a small piece of it because it's Bitcoin. It's even reaching outside the crypto world where wealthy individuals are slowly starting to convert 0.5-1% of their net worth to Bitcoin. It's stupid to not own Bitcoin.
each has different advantages and disadvantages, it is not good to eliminate one of them
decentralized means that no one regulates or acts as an intermediary, so by buying cryptocurrency, it is considered that you can already use and know the risks. but the advantage of crypto is that we can transfer money easily, safely, cheaply and quickly
while centralization is synonymous with banks, and we know that it costs more to pay for all services provided by intermediaries
decentralized means that no one regulates or acts as an intermediary, so by buying cryptocurrency, it is considered that you can already use and know the risks. but the advantage of crypto is that we can transfer money easily, safely, cheaply and quickly
while centralization is synonymous with banks, and we know that it costs more to pay for all services provided by intermediaries
Btw if you see guys, historically currency development happens for centuries, it started when we entered in civilization. It's still developing because as you see in 21th century we have new type of currencies, cryptocurrencies. It was great when wasn't popular. Everything that's good is abused and then loses it's most important pros. Bitcoin isn't as decentralyzed as it was meant.
Silver coin -> Gold Coin -> Paper Money -> Digital Money -> Crypto currencies, still digital but on high level. What will be next?
Silver coin -> Gold Coin -> Paper Money -> Digital Money -> Crypto currencies, still digital but on high level. What will be next?
in my opinion this century is a form of transition from the change in paper currency to the crypto currency which is centralized. slowly we can see from various forms of all changing to digital and online. all are influenced by the transition of the current development.
The transition from paper currency to digital currency has happened already, most of the money around the world is nothing more than just a few numbers in a database, most money is not in the form of coins and bills, so that transition already happened what we are going to see in the next decades is if we can transition from a form of centralized digital currency to a decentralized form of digital currency, so the next decades are going to be very interesting because we are going to see if that transition takes place.And if it does as the majority of the people in this forum desires we are going to benefit out of this massive transformation in the way people use and perceive their money.
In the old age,few centuries ago people uses some money system which is called Barter system to buy and sell their products.This system works like exchanging their products between two people when they are in need but they realized that that system has flaws and not suitable for everyone since if there is no demand for one's product he can't buy anything he needs so later they moved to currencies (paper money) until now people uses this as their main form of payment but in digital format but people needs to understand that this also has flaw of centralization so we need to move to the decentralized money for better life.Lets get update ourselves to use the crypto currencies.
In the old age,few centuries ago people uses some money system which is called Barter system to buy and sell their products.This system works like exchanging their products between two people when they are in need but they realized that that system has flaws and not suitable for everyone since if there is no demand for one's product he can't buy anything he needs so later they moved to currencies (paper money) until now people uses this as their main form of payment but in digital format but people needs to understand that this also has flaw of centralization so we need to move to the decentralized money for better life.Lets get update ourselves to use the crypto currencies.
In the old age,few centuries ago people uses some money system which is called Barter system to buy and sell their products.This system works like exchanging their products between two people when they are in need but they realized that that system has flaws and not suitable for everyone since if there is no demand for one's product he can't buy anything he needs so later they moved to currencies (paper money) until now people uses this as their main form of payment but in digital format but people needs to understand that this also has flaw of centralization so we need to move to the decentralized money for better life.Lets get update ourselves to use the crypto currencies.
For now, I think it is still difficult to shift paper money and switch to digital currency. But nobody knows in the future, everything can happen.
Evolution in our monetary system already happening. Many country already accepting bitcoin and others crypto for payment and i am believe more country will regulate cryptocurrency. If this happen, monetary system will more attractive because people have many choice when they want to make transaction with others
I think the development of time and technology will also be followed by the development of the economic system as well as one of them with a system of buying and selling transactions that will be practical, fast, efficient and the demands that make it happen
It really has a great improvement people use before a barter system but they have seen that it is not fair that's why they created a coins or a paper money. As of now there is another existence of money the digital currency but we can't replace this traditional money into a digital currency they have a disadvantage and advantage and crypto people now think it is just like an asset that may we keep in long run.
The inevitable is the transition from cash to cashless payments, and then from fiat money to cryptocurrency.
In the old age,few centuries ago people uses some money system which is called Barter system to buy and sell their products.This system works like exchanging their products between two people when they are in need but they realized that that system has flaws and not suitable for everyone since if there is no demand for one's product he can't buy anything he needs so later they moved to currencies (paper money) until now people uses this as their main form of payment but in digital format but people needs to understand that this also has flaw of centralization so we need to move to the decentralized money for better life.Lets get update ourselves to use the crypto currencies.
in my opinion this century is a form of transition from the change in paper currency to the crypto currency which is centralized. slowly we can see from various forms of all changing to digital and online. all are influenced by the transition of the current development.
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