Human productivity | Bitcointalksearch.org

S4VV4S

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Quote from: semobo on June 10, 2021, 09:29:03 AM

Quote from: songchunlai on June 09, 2021, 07:16:45 AM

In the past, people farmed and exchanged the surplus grain harvested in autumn for rare, unchanging gold. Then give the gold to a trusted person in exchange for his IOU. When you finish eating your own grain, you can exchange the IOU for gold and then exchange for grain.
Now and in the future, we will replace the surplus production with a rare, trustworthy and unchangeable Bitcoin, and it can be quickly exchanged for the product we want in any corner of the world. We no longer have to work hard to carry these gold and IOUs.
In fact, in a few years, I often imagined how to send money conveniently on the Internet. After thinking of Bitcoin, I found that Bitcoin, which has solved scarcity, trust and immutability, is money itself, and it is digital gold that is easy to use.

You are talking about the initial days of the money system but now a days we have so called paper money which can buy anything and also you can sell anything which has value and get the paper money, of course in future we may have bitcoin as medium of exchange but do we have surplus production of needed things? Lot of factors affecting the productivity rate even due this the pandemic there is huge shock in the supply and chain.

In my opinion, it is still very difficult if bitcoin will become a medium of exchange that can replace paper money. It took them a long time to introduce them about bitcoin to people who are low-income and less tech-savvy. Even in my multi-ethnic country, there are some tribes that prohibit the development of modern technology, they are still primitive. And prefer to buy and sell using physical money rather than digital. But this is less of a problem than people who want bitcoin to be a legitimate trading medium.

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Quote from: songchunlai on June 09, 2021, 07:16:45 AM

In fact, in a few years, I often imagined how to send money conveniently on the Internet.

It has made sending money easier depending on the country where you live and where the recipient lives. While digital payments methods that use fiat as mode of transaction are essentially border-less but fee-heavy and time consuming. Both have their pros and cons and neither one is replacing the others.

Quote

After thinking of Bitcoin, I found that Bitcoin, which has solved scarcity, trust and immutability, is money itself, and it is digital gold that is easy to use.

I would not say all those terms to be correct. Bitcoin is not the solution for poverty. People who are poor cannot buy a digital device because that is needed for accessing your bitcoins. Poor people cant even get access to continuous electricity supply or even water supply in many countries. Trust, I agree but digital gold - No. You cant compare bitcoin with gold. Gold has its own importance in the market, it is costly and sell-worthy anywhere in the world. Bitcoin still sees a lot of legal restraints in many countries.

Nunoluck

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For me bitcoin is the best digital payment method. It is not only practical to use but it is also profitable as investment and strong against inflation. In this world economy system, I think holding bitcoin is also profitable like own a farming field, the difference is I don't need to maintain it but just hold it for long term then I get profit automatically. With all advantage that bitcoin has I think Human should be more productive.

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The thing is, would the world be able to move forward with bitcoin as an integral part of the economy? I could see it happening, though I'm not so sure whether the people, the governments, and the industries would be able to take the change a step further. Any theoretical situations and assumptions are pretty to look at, but the reality is that in terms of adoption, we are still at a turtle's pace. The cycle just basically repeats, though the manner through which these cycle progresses—in this case gold replaced by bitcoin—are changed.

DrBeer

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Quote from: jaysabi on June 12, 2021, 11:21:37 AM

Quote from: songchunlai on June 09, 2021, 07:16:45 AM

In the past, people farmed and exchanged the surplus grain harvested in autumn for rare, unchanging gold. Then give the gold to a trusted person in exchange for his IOU. When you finish eating your own grain, you can exchange the IOU for gold and then exchange for grain.
Now and in the future, we will replace the surplus production with a rare, trustworthy and unchangeable Bitcoin, and it can be quickly exchanged for the product we want in any corner of the world. We no longer have to work hard to carry these gold and IOUs.
In fact, in a few years, I often imagined how to send money conveniently on the Internet. After thinking of Bitcoin, I found that Bitcoin, which has solved scarcity, trust and immutability, is money itself, and it is digital gold that is easy to use.

Bitcoin's volatility makes it a horrible currency. Imagine an economy where you only know how much money you have for a few minutes at a time because the value changes so quickly. Commerce would be inconsistent, the ability to plan for the future would be completely gone because you would never have a reasonable expectation of how much money you'd have at any stage in your life due to the unpredictability of bitcoin's value.

Sorry, but nothing in bitcoin's history suggests it will ever be a usable currency, especially on a global level.

And if we assume a different situation - we "remove" the value of bitcoin in dollar, and bitcoin, for example, becomes that very world dollar, what happens then? Will volatility occur if the value of bitcoin is already pegged to, for example, the total world gross product? Now, in fact, bitcoin is not much different from, for example, a tomato

Its price is also volatile, depending on the work of agricultural companies, the price of fertilizers, oil, weather disasters and many other indicators ...

awik p

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Quote from: dimox on June 14, 2021, 03:06:39 AM

digital gold is good name for this one.
people work on crypto, exchange in bitcoin, hold or use it for need.
as far i know, people will make main mission like produce money, more and more. people will sell their digital asset if know its good. than will store some to the bank, and buy asset if the price down as much as he spend for the first time. so, making money from this is more beautifull than trading it with bitcoin.

I see that cryptocurrency is more dominant to make money. To meet daily needs, I think it is more effective when prices are at their peak, so we sell and exchange fiat to buy necessities. and I see it looks equally promising if we invest in this business, rather than waiting for the initial function to be created

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Quote from: verita1 on June 12, 2021, 07:00:07 PM

OP's thinking is a retrospective of how he saw gold evolve in contrast to what he knows about bitcoin.
It is the thought that we must convince those who do not know about bitcoin and that it is time for them to approach the new technology and the freedom that bitcoin offers.
The opportunities are emerging and will be favorable for the crypto community we just have to be patient and stay on board.

this will take many years before large percentage of population will get involved in crypto. and expect that those in the older generation will stay mostly on traditional means of payment system and will not touch crypto. and for them, it is not a loss because they can always live their life without crypto, which is actually true. but other younger generations will embrace this new tech willingly. they will find the benefits that it will bring to their daily life. and yes, maybe, they will categorise bitcoin, as the new digital gold of the new generation.
however, i dont think physical gold will be eradicated in our system, it will always be an integral part of the financial system of every country. there will always be gold reserves in most central banks. and also, we need to consider the vital role of gold in electronics, jewelry and other industries.

Coroline

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Quote from: jaysabi on June 12, 2021, 11:21:37 AM

Quote from: songchunlai on June 09, 2021, 07:16:45 AM

In the past, people farmed and exchanged the surplus grain harvested in autumn for rare, unchanging gold. Then give the gold to a trusted person in exchange for his IOU. When you finish eating your own grain, you can exchange the IOU for gold and then exchange for grain.
Now and in the future, we will replace the surplus production with a rare, trustworthy and unchangeable Bitcoin, and it can be quickly exchanged for the product we want in any corner of the world. We no longer have to work hard to carry these gold and IOUs.
In fact, in a few years, I often imagined how to send money conveniently on the Internet. After thinking of Bitcoin, I found that Bitcoin, which has solved scarcity, trust and immutability, is money itself, and it is digital gold that is easy to use.

Bitcoin's volatility makes it a horrible currency. Imagine an economy where you only know how much money you have for a few minutes at a time because the value changes so quickly. Commerce would be inconsistent, the ability to plan for the future would be completely gone because you would never have a reasonable expectation of how much money you'd have at any stage in your life due to the unpredictability of bitcoin's value.

Sorry, but nothing in bitcoin's history suggests it will ever be a usable currency, especially on a global level.

I agree with you, asset values change very quickly, of course this is not good for an economy. I prefer the technology that is brought, namely blockchain, this is the one that will bring light to the future. Gold, which is currently being manipulated and regulated by an organization, has certainly become non-transparent and centralized.

dimox

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digital gold is good name for this one.
people work on crypto, exchange in bitcoin, hold or use it for need.
as far i know, people will make main mission like produce money, more and more. people will sell their digital asset if know its good. than will store some to the bank, and buy asset if the price down as much as he spend for the first time. so, making money from this is more beautifull than trading it with bitcoin.

AndySt

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Quote from: just_Alice on June 12, 2021, 01:42:40 PM

It's an interesting way to perceive Bitcoin, as a part of the trading system. But there's one obvious flaw here. You've said it yourself "for rare, unchanging gold", but the same can't be said about cryptocurrencies. That can be an issue if we're talking about implementing crypto into the current system for purchasing goods and so on. On the other hand, nowadays people have learned to take advantage of it and make money, but the problem of crypto circulation within our economical system still requires solutions.

The author of the topic suddenly saw the light and described a little in his own words the effect of the gold standard, which was in effect until the middle of the last century.Now we will wait for the author to finally see clearly and understand with his own mind why the financial systems of the states of the last century suddenly abandoned the gold standard Wink

This is a very interesting topic for discussion and the introduction of bitcoin in this area instead of existing economic policy instruments, unfortunately, will not help, including due to human productivity in the economy.

verita1

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OP's thinking is a retrospective of how he saw gold evolve in contrast to what he knows about bitcoin.
It is the thought that we must convince those who do not know about bitcoin and that it is time for them to approach the new technology and the freedom that bitcoin offers.
The opportunities are emerging and will be favorable for the crypto community we just have to be patient and stay on board.

just_Alice

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It's an interesting way to perceive Bitcoin, as a part of the trading system. But there's one obvious flaw here. You've said it yourself "for rare, unchanging gold", but the same can't be said about cryptocurrencies. That can be an issue if we're talking about implementing crypto into the current system for purchasing goods and so on. On the other hand, nowadays people have learned to take advantage of it and make money, but the problem of crypto circulation within our economical system still requires solutions.

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Quote from: Smitty Werben Man Jensen on June 12, 2021, 05:28:27 AM

What makes bitcoin superior to gold or fiat is that its price is increasing year by year,
we can see for ourselves and of course the price can still go up again,
Despite these advantages, there are still drawbacks and investing in cryptocurrencies is a big risk, so it's not easy

So for you it is the value that makes bitcoin superior to gold? Bitcoin isn't increasing "year by year". Look at the charts. That's a witless way of thinking/portraying bitcoin. Bitcoin was made to be used as a currency. It was made so that people had financial freedom. It wasn't made to make people rich. Stop looking at the value and start thinking about how to make it better so that we can actually use it as a regular currency. Focus on the development and solutions to the current problems and the value will rise automatically.

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Quote from: songchunlai on June 09, 2021, 07:16:45 AM

In the past, people farmed and exchanged the surplus grain harvested in autumn for rare, unchanging gold. Then give the gold to a trusted person in exchange for his IOU. When you finish eating your own grain, you can exchange the IOU for gold and then exchange for grain.
Now and in the future, we will replace the surplus production with a rare, trustworthy and unchangeable Bitcoin, and it can be quickly exchanged for the product we want in any corner of the world. We no longer have to work hard to carry these gold and IOUs.
In fact, in a few years, I often imagined how to send money conveniently on the Internet. After thinking of Bitcoin, I found that Bitcoin, which has solved scarcity, trust and immutability, is money itself, and it is digital gold that is easy to use.

Bitcoin's volatility makes it a horrible currency. Imagine an economy where you only know how much money you have for a few minutes at a time because the value changes so quickly. Commerce would be inconsistent, the ability to plan for the future would be completely gone because you would never have a reasonable expectation of how much money you'd have at any stage in your life due to the unpredictability of bitcoin's value.

Sorry, but nothing in bitcoin's history suggests it will ever be a usable currency, especially on a global level.

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Quote from: peter0425 on June 11, 2021, 12:55:53 AM

Quote from: songchunlai on June 09, 2021, 07:16:45 AM

...

Well Honest issue is the transaction speed and fee in which needed to be updated or we will use alternative coins to make it possible.

but as far as the transaction is concern this is the safest for me.

this is the reason we have to accelerate the adoption of lighting network...

transaction fees and transaction processing problems are things that have been discussed in Bitcoin for a long time, using the lightning network is the best option so that adoption of problems can occur immediately.

Smitty Werben Man Jensen

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Quote from: PIR on June 12, 2021, 02:27:39 AM

Bitcoin has many advantage than gold or or fiat. if before people exchange what they have for gold and other valuable material to gain more when they invest. In bitcoin is also some sort of investment which in later years you will gain. its decentralized and you can keep your money with sure profit

What makes bitcoin superior to bitcoin or fiat is that its price is increasing year by year,
we can see for ourselves and of course the price can still go up again,
Despite these advantages, there are still drawbacks and investing in cryptocurrencies is a big risk, so it's not easy

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Quote from: henmark on June 12, 2021, 03:16:20 AM

Quote from: songchunlai on June 09, 2021, 07:16:45 AM

In the past, people farmed and exchanged the surplus grain harvested in autumn for rare, unchanging gold. Then give the gold to a trusted person in exchange for his IOU. When you finish eating your own grain, you can exchange the IOU for gold and then exchange for grain.

I really don't know what IOU was but money serves the same purpose if you think of it. You farm and change it for gold/money and later you can use it for any purpose.

Quote from: songchunlai on June 09, 2021, 07:16:45 AM

In fact, in a few years, I often imagined how to send money conveniently on the Internet. After thinking of Bitcoin, I found that Bitcoin, which has solved scarcity, trust and immutability, is money itself, and it is digital gold that is easy to use.

I myself use Bitcoins but I think online transactions were already easy to make because a lot of payment processors existed for years and decades now. The real problem that Bitcoin solved was transparency and chargeback problems that were always associated with other payment options.

Bitcoin although solves a ton of problems still remains a hesitant payment option because the time of confirmation is usually 10-15 minutes and not every transaction has the liberty of allowing so much time. You cannot pay at a gas station, coffee shop and other places where you don't want to wait.

I think this problem can be easily solved with accepting zero conf transactions by the retailers. Seriously, who in the right mind will consider cheating in order to steal a cup of coffee? Such small transactions don't have to be confirmed in 10-15 minutes even. You can pay a small fee, just enough for it to not stuck forever, 3-4 sats/byte, maybe. And that's for now, when most popular wallets don't support Lightning transactions. When that changes the problem will be solved completely.

henmark

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Quote from: songchunlai on June 09, 2021, 07:16:45 AM

In the past, people farmed and exchanged the surplus grain harvested in autumn for rare, unchanging gold. Then give the gold to a trusted person in exchange for his IOU. When you finish eating your own grain, you can exchange the IOU for gold and then exchange for grain.

I really don't know what IOU was but money serves the same purpose if you think of it. You farm and change it for gold/money and later you can use it for any purpose.

Quote from: songchunlai on June 09, 2021, 07:16:45 AM

In fact, in a few years, I often imagined how to send money conveniently on the Internet. After thinking of Bitcoin, I found that Bitcoin, which has solved scarcity, trust and immutability, is money itself, and it is digital gold that is easy to use.

I myself use Bitcoins but I think online transactions were already easy to make because a lot of payment processors existed for years and decades now. The real problem that Bitcoin solved was transparency and chargeback problems that were always associated with other payment options.

Bitcoin although solves a ton of problems still remains a hesitant payment option because the time of confirmation is usually 10-15 minutes and not every transaction has the liberty of allowing so much time. You cannot pay at a gas station, coffee shop and other places where you don't want to wait.

Fortify

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Quote from: songchunlai on June 09, 2021, 07:16:45 AM

In the past, people farmed and exchanged the surplus grain harvested in autumn for rare, unchanging gold. Then give the gold to a trusted person in exchange for his IOU. When you finish eating your own grain, you can exchange the IOU for gold and then exchange for grain.
Now and in the future, we will replace the surplus production with a rare, trustworthy and unchangeable Bitcoin, and it can be quickly exchanged for the product we want in any corner of the world. We no longer have to work hard to carry these gold and IOUs.
In fact, in a few years, I often imagined how to send money conveniently on the Internet. After thinking of Bitcoin, I found that Bitcoin, which has solved scarcity, trust and immutability, is money itself, and it is digital gold that is easy to use.

It might be worth noting that only the very richest people would have owned much gold. If you read "The Richest Man in Babylon" you will see that they generally had tokens in the form of silver or bronze, much like the smaller denominations that you find in several countries today. If you were to apply that to the cryptocurrency world then maybe you should consider "Bitcoin" as the gold, popular altcoins like Ethereum & Dogecoin as the silver and less well known ones as the bronze. It is worth having a mixture because, unlike a fixed precious metal in the real world, we never know if the gold will eventually turn into almost worthless coal and have some silver transform to take its place.

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Bitcoin has many advantage than gold or or fiat. if before people exchange what they have for gold and other valuable material to gain more when they invest. In bitcoin is also some sort of investment which in later years you will gain. its decentralized and you can keep your money with sure profit

Topic: Human productivity (Read 413 times)