Money History - Introduction to Ancient Exchanges

Ucy

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Quote from: darewaller on May 16, 2020, 03:36:10 PM

^^How about something as simple as this; it would be regulated but can't be controlled? I mean you can still check people on what they spend the money on and so forth, money could be and should be followed and that's fine, however governments won't be able to control bitcoin, they wouldn't be able to rollback, they won't be printing more, they wouldn't be taking taxes and using it to enrich their friends, they wouldn't be able to buy 1000 dollar per chair or something to use the taxes. Bitcoin will be free, the people who are using bitcoin won't be.

I am not against the fiat world because it is traced and all, that is fine and understandable, I am against it because governments use fiat to make themselves richer while poor people are still poor and they can just print money and make us even poorer while giving that printed money to their bribers.

I like the "regulated but can't be controlled" part! It it very possible with well decentralized cryptocurrency. People from current national governments could even be part of the governance of well decentralized cryptocurrency without centralizing or controlling the coin/system in anyway. A well built decentralized system would require merit and fairness(in anonymous and randomize model) for proper governance.
If government officials provide the best skilled people for the coin governance, a fair & foolproof system will definitely picked them fairly. They won't be picked based on privileges or for being government officials. Regular people will be picked by the system if they have the best skills. The good thing about this model is that it will be hard to bribe or break rules/laws without getting caught and punished

fiulpro

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I still remember the time when a man offered his sheeps to ask Mr. Obama for her daughter's hand in marriage .
This might have been somewhat an overstatement and weird for some people , but in developing countries , day to day you actually come across exchanges like this .
Even my Grandma sometimes sells clothes in exchange for utensils. It is very common.
In developed nations it is already cash/card . But there are countries where people actually sell their hair for basic necessities.
I think it is good to see some remnants of history beneath all this .

darewaller

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^^How about something as simple as this; it would be regulated but can't be controlled? I mean you can still check people on what they spend the money on and so forth, money could be and should be followed and that's fine, however governments won't be able to control bitcoin, they wouldn't be able to rollback, they won't be printing more, they wouldn't be taking taxes and using it to enrich their friends, they wouldn't be able to buy 1000 dollar per chair or something to use the taxes. Bitcoin will be free, the people who are using bitcoin won't be.

I am not against the fiat world because it is traced and all, that is fine and understandable, I am against it because governments use fiat to make themselves richer while poor people are still poor and they can just print money and make us even poorer while giving that printed money to their bribers.

Darker45

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Quote from: darewaller on May 13, 2020, 03:02:10 PM

Not being controlled by the government is a really good thing about cryptocurrency, and that's one of the features of cryptocurrency that I love so much, except that some people are fond of misusing this feature. Wish there would be a way to trace only those that are using Bitcoin and other cryptocurrencies for a bad purpose, but that wouldn't be possible since it will also be ruining the privacy for those of us that are using it for a good purpose and prefers to stay anonymous and on a low-key.

But that's not a problem, I believe as time goes on the technology will keep on developing, we have still got a long way to go.

Interesting!

We've come to really hate the government or governments, haven't we? Up to a point when we are afraid of something which is too risky not to be regulated or controlled to a certain extent. That is exactly how governments are born. As the saying goes, homo homini lupus, man is wolf to man. Freedom is sweet until it becomes a risk to your private property or life.

You can't have your cake and eat it, too. I mean, can we have a currency which cannot be regulated by the government at the same time made sure that it is not going to be abused?

Leviathan.007

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Quote from: darewaller on May 13, 2020, 03:02:10 PM

Not being controlled by the government is a really good thing about cryptocurrency, and that's one of the features of cryptocurrency that I love so much, except that some people are fond of misusing this feature. Wish there would be a way to trace only those that are using Bitcoin and other cryptocurrencies for a bad purpose, but that wouldn't be possible since it will also be ruining the privacy for those of us that are using it for a good purpose and prefers to stay anonymous and on a low-key.

But that's not a problem, I believe as time goes on the technology will keep on developing, we have still got a long way to go.

Bypassing government was the goal of crypto in my own idea since it's PTP and no third person involved. using for bad purpose or abusing something is always what some people do.
For example, knife. Doctors using for the surgery and curing people and some people using to kill each others. Depends on your usage.

Negotiation

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Quote from: Snappycoco on May 13, 2020, 01:00:42 AM

It has come indeed a pretty long way down. It starts with a simple exchange of animals and other commodities. One of the most astonishing evolution from mankind's creation. But Gold is still one unique piece of essentials.

If gold is still a necessary part, its use is less than that of Bitcoin Gold is usually controlled by the government of the country If the government stops trading in gold, it will stop but Bitcoin is not under anyone's control No one can manipulate it and stop it. Bitcoin is the best when it comes to investing It will go a long way and help mankind improve.

darewaller

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Not being controlled by the government is a really good thing about cryptocurrency, and that's one of the features of cryptocurrency that I love so much, except that some people are fond of misusing this feature. Wish there would be a way to trace only those that are using Bitcoin and other cryptocurrencies for a bad purpose, but that wouldn't be possible since it will also be ruining the privacy for those of us that are using it for a good purpose and prefers to stay anonymous and on a low-key.

But that's not a problem, I believe as time goes on the technology will keep on developing, we have still got a long way to go.

Snappycoco

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It has come indeed a pretty long way down. It starts with a simple exchange of animals and other commodities. One of the most astonishing evolution from mankind's creation. But Gold is still one unique piece of essentials.

FanatMonet

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Money has come a pretty long way, from various household items to modern banknotes.
But in my opinion, the best times were when there were gold and silver coins, and their value was really backed up by something substantial, and not just a promise that this banknote should be accepted on a certain territory.

mycryptocoin

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a good article. I also write a article about the currency. The history of money is very long, extending throughout the history of human development. The first is shells, followed by essential items such as salt, cloth, jute ... and then coins like silver, coins and rare metals like gold ... When the exchange of goods appeared chemistry will form monetary form. And Blockchain is a groundbreaking idea of money, where distance restrictions or language and country barriers are almost zero. We can in the United States transfer money to our friends in Japan at a rapid rate. fast, the fee is almost zero and can check your transaction exactly whenever

abhiseshakana

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Quote from: buwaytress on May 09, 2020, 12:07:18 PM

History of money indeed. Some important milestones right there, but that's also missing out on a lot of the other types of money used in various cultures and civilizations throughout the world. Barter, by the way, is making a comeback in some communities -- I know one near me that actually does barter, and there are a whole lot of other money systems being used and experimented now (paying it forward, which is basically not an exchange but a promise to "spend" elsewhere using not cash but in kind).

Before the gold standard and the current US dollar standard, we also had the "daler" or "thaler" silver standard used in Europe and their colonies in the New World (where the dollar got its name from by the way!).

http://library.uniteddiversity.coop/Money_and_Economics/A_History_of_Money-From_Ancient_Times_to_the_Present_Day.pdf

This book can be a reference to this discussion. I have not read as a whole, it's just interesting that there are so many crises and all of them are crises in the financial sector that are believed to be caused by money printing practices carried out by the authorities. Quoting Lord Josiah Stamp who is a former director of the Bank of England who stated that weapons from banks are printing money out of nothing.

https://en.wikipedia.org/wiki/Josiah_Stamp,_1st_Baron_Stamp#Quotes

buwaytress

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History of money indeed. Some important milestones right there, but that's also missing out on a lot of the other types of money used in various cultures and civilizations throughout the world. Barter, by the way, is making a comeback in some communities -- I know one near me that actually does barter, and there are a whole lot of other money systems being used and experimented now (paying it forward, which is basically not an exchange but a promise to "spend" elsewhere using not cash but in kind).

Before the gold standard and the current US dollar standard, we also had the "daler" or "thaler" silver standard used in Europe and their colonies in the New World (where the dollar got its name from by the way!).

aakay

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I think what you explained in the first part is refered to the " trade by barter" system. I just kinda remembered some of the stories i was told concerning those. Some funny actually. Like if you are need for salt, you will have to seek for someone who is willing to exchange and amount of salt for another commodity which you have and is willing to part ways with. We have really come a long way from the past but so sad the world is experiencing this awful pandemic. I just hope the world heals soonest

abhiseshakana

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Quote from: Ucy on May 08, 2020, 07:09:42 AM

It's important to note that barter isn't going away... there is nothing really bad or "primitive or ancient" about it. It depends on what you find convenient in "certain situations".
We could actually barter goods and services in a modern way. I could tell someone: "work in my company for two years, I will provide your basic needs with little weekly money(allowances)"... This is kind of bartering in my opinion.

As long as there is agreement from both parties, a barter system can take place. It's just that it will be hard to find another party who coincidentally and at once:

- Has the same items needed.
- Requires what we offer
- With values that are approximately the same or can be compared.
- Willing to exchange it

The existence of technological sophistication and complexity of the world socio-economy today, it seems that the barter system will be difficult to realize. Unless we build a community economy. Corona pandemic can trigger community economic formation (environment). Primitive times all people produce what is consumed and consume all that is produced. We can apply the idea of independence in the face of a corona pandemic provided there is a commitment from environmental members to support one another and the focus is humanity, not profit. For example in a small environment consisting of 50 families. Each family produces one or two daily basic needed for its community and then exchanged with each other both in barter and buying and selling.

shield132

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Quote

Here when a farmer wanted to trade his farming product for mild he didn’t know how much farming product he must give in return.

I don't agree with you in this. The reason why people started to use coins was that they were looking for something unique that would be valuable for everyone. Maybe I want to buy product from you but you don't want hen from me, so deal was something unique and with help of this I would be able to sell hen on someone and with collected coins, I would be able to buy product from you cause what I offer is something that everyone is looking for and no one is exception.
And this type of exchange is called Barter.

Quote

Here the first generation of the exchanges (Ancient Exchanges) came out, when you wanted to carry 10 million coins with you from Boston to Paris

I hugely doubt anyone even know continent of America that time. I hope you don't think that 18th century is ancient. And if we really talk about ancient exchanges, then I want to remind you that such system belongs to banking 17th century banking.

Quote

governments started to print a huge amount of banknotes and printing huge amount of banknotes lowering value of the money.

It doesn't lower value of money in reality cause society needs money. No money = no work. What lower value of it is banking system where a lot of money is collected and stored.

silversurfer1958

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I thank your detailed article on the history of money. I think cash was invented to facilitate the exchange of goods with each other. And science and technology thrived in the 21st century, producing cryptocurrencies. And BTC is the king in the cryptocurrency market. Cryptocurrencies have many advantages over cash. The advantages are transparency, anonymity and high security. I think in the future cryptocurrencies will be accepted for payment worldwide.

mu_enrico

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Great thread, I like reading something light like this. Anyway, I want to read more about Quantitative Easing (QE) and Open Market Operation (OMO) if OP can extend the discussion since it's the key about "printing money out of thin air" arguments. It got soo bad in the last decade that people should carefully think about it.

Ucy

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Quote from: sheenshane on May 08, 2020, 05:01:42 AM

Barter system during ancient people is very historical information and to add another information, they call it "barter change" when people are exchanging items for another good that they need. Though the thread might be well known to everyone in this forum however the topic only aims and point out the revolution in exchanges how it was before, how it is today and how it might be in the future it only tells us that cryptocurrency can be the future of exchanges replacing fiat and digital currencies.

Anyway, the revolutions in exchanges are possible and I'm looking forward to that cryptocurrency will be the future of it because of the features and advantages that we can benefit from it. But we really dont know when will that happen.

It's important to note that barter isn't going away... there is nothing really bad or "primitive or ancient" about it. It depends on what you find convenient in "certain situations".
We could actually barter goods and services in a modern way. I could tell someone: "work in my company for two years, I will provide your basic needs with little weekly money(allowances)"... This is kind of bartering in my opinion.
You could combine bartering with other
means of exchanging goods and services in a society. Whatever works well for that society can be used.

so98nn

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Reminds me history classes after reading your post. So just went on to see what were the more unique and popular forms of currency out in the world during oldest decades.

I guess the article which I found from the CNBC is pretty amusing. Just loved the Currency number 9th The death penalty dollar and the 1st one which is Rai Stone.

The full article is present Here, The Weirdest Currencies

I will just put on one liners and photos if you wanna have quick look on them.

1. Rai Stone

2. Holy water dollar

3. Squirrel pelts

4. Off with his head!

5. The unlikeliest Kennedy coin

6. The world’s largest note

7. Edible currency

8. Green stamp money

9. The death penalty dollar

10. Wooden bills

Also, one can have cool discussion over the Currency no. 6th which say worlds largest currency whose cost was the 100 Million Billion Pengo. That’s right: 100,000,000,000,000,000,000 Pengos^[Reference]

Well, if we compare this with the today's bitcoin then its nothing in terms of digits. I mean one can have as much as bitcoin and in terms of USD it could be large number.

However, being that big currency its value in 1946 was only $0.20 Now thats funny!

sheenshane

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Barter system during ancient people is very historical information and to add another information, they call it "barter change" when people are exchanging items for another good that they need. Though the thread might be well known to everyone in this forum however the topic only aims and point out the revolution in exchanges how it was before, how it is today and how it might be in the future it only tells us that cryptocurrency can be the future of exchanges replacing fiat and digital currencies.

Anyway, the revolutions in exchanges are possible and I'm looking forward to that cryptocurrency will be the future of it because of the features and advantages that we can benefit from it. But we really dont know when will that happen.

Topic: Money History - Introduction to Ancient Exchanges (Read 387 times)