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Topic: When money dies (Read 4893 times)

member
Activity: 420
Merit: 10
November 24, 2014, 03:28:30 PM
#43
always find
exchange good
member
Activity: 79
Merit: 10
November 24, 2014, 03:18:14 PM
#42
Kind of misleading.

Fiat might die, but money will not. Society always find a way to exchange good using a medium of exchange (aka money).

+1000
donator
Activity: 1736
Merit: 1014
Let's talk governance, lipstick, and pigs.
November 24, 2014, 03:14:33 AM
#41
Year 3000. Once all of the Earth's natural resources are mapped, quantified, and there is no need for labor, who decides what is traded and its price?
A subspecies of Roko's basilisk that charges obscene prices to people who opposed the automation of all labour?
Without labor, where will Roko's customer's with money come from?
edit: I'd not seen that argument. It's silly.
legendary
Activity: 4542
Merit: 3393
Vile Vixen and Miss Bitcointalk 2021-2023
November 24, 2014, 03:12:01 AM
#40
Year 3000. Once all of the Earth's natural resources are mapped, quantified, and there is no need for labor, who decides what is traded and its price?
A subspecies of Roko's basilisk that charges obscene prices to people who opposed the automation of all labour?
donator
Activity: 1736
Merit: 1014
Let's talk governance, lipstick, and pigs.
November 24, 2014, 02:29:03 AM
#39
One one currency fails, another take over. Money will never die.
Year 3000. Once automation has replaced 99% of human labour... where is the place for money there?
Human labour is only part of the production process. The process can be automated, but production itself still requires energy, raw materials, and real estate, all of which are in finite supply and must therefore be traded in some way (such as money).
Year 3000. Once all of the Earth's natural resources are mapped, quantified, and there is no need for labor, who decides what is traded and its price?
legendary
Activity: 4542
Merit: 3393
Vile Vixen and Miss Bitcointalk 2021-2023
November 24, 2014, 02:00:27 AM
#38
One one currency fails, another take over. Money will never die.
Year 3000. Once automation has replaced 99% of human labour... where is the place for money there?
Human labour is only part of the production process. The process can be automated, but production itself still requires energy, raw materials, and real estate, all of which are in finite supply and must therefore be traded in some way (such as money).
hero member
Activity: 672
Merit: 503
November 23, 2014, 01:58:52 PM
#37
One one currency fails, another take over. Money will never die.
Year 3000. Once automation has replaced 99% of human labour... where is the place for money there?
full member
Activity: 169
Merit: 100
November 23, 2014, 10:21:25 AM
#36
One one currency fails, another take over. Money will never die.
newbie
Activity: 28
Merit: 0
November 22, 2014, 04:45:25 PM
#35
And that is why we have bitcoin coming into the picture now

Not so fast. The only thing most people do with the bitcoin is buy money. For as long as bitcoin is tied to fiat it will not become real money. To make bitcoin real money we need to create an economy around it. This means we need to trade bitcoins not just simply for goods at a store but also for property such as cars and land. In addition the bitcoin will need to enter the stock market. As of today the bitcoin cannot replace money.
legendary
Activity: 1163
Merit: 1005
November 22, 2014, 08:19:58 AM
#34
Money can die,
maybe yes...

Money just made by wood

But we can use other medium transaction like gold or silver
hero member
Activity: 1022
Merit: 500
November 21, 2014, 10:48:22 PM
#33
Quote
In 1914 there was a minor increase in the wholesale price index. That index, with a base of one in 1913, had increased to 2.45 by the end of 1918. Beginning in 1919, the speed of the inflation increased, advancing to 12. 6 in January 1920; 14.4 in January 1921 and 36. 7 in January 1922. By the second half of 1922, that index stood at 101 in July; it was 74,787 in July 1923 and 750 billion on 15 November 1923.

A good read:
http://mises.org/daily/6945/When-Money-Dies-Germany-and-Paper-Money-After-1910

I will read the article, thanks.

When USSR wanted money to disappear through inflation it went bad. When the USD, EURO and Yen  will implode, people will still be able to exchange Gold and Bitcoin Wink
member
Activity: 68
Merit: 10
November 21, 2014, 09:38:19 PM
#32
why do we even play games with money printing and interest rates, working so hard to prop prices up.
lets just skip right to a north korean command economy model and dictate what the price of everything should be and be done with it.

Bingo!
full member
Activity: 210
Merit: 100
November 21, 2014, 03:34:19 PM
#31
Quote
In 1914 there was a minor increase in the wholesale price index. That index, with a base of one in 1913, had increased to 2.45 by the end of 1918. Beginning in 1919, the speed of the inflation increased, advancing to 12. 6 in January 1920; 14.4 in January 1921 and 36. 7 in January 1922. By the second half of 1922, that index stood at 101 in July; it was 74,787 in July 1923 and 750 billion on 15 November 1923.

A good read:
http://mises.org/daily/6945/When-Money-Dies-Germany-and-Paper-Money-After-1910

Very interesting article. Thanks for sharing.
sr. member
Activity: 294
Merit: 250
November 09, 2014, 12:18:34 AM
#30
money never dies  Wink
hero member
Activity: 675
Merit: 500
November 08, 2014, 10:54:22 PM
#29
Yeah btw, money as in paper money is dying a slow painful death, it will take decades but it will die, it's brain dead and on machines now kept alive by banksters and conmen in the governments.
Thanks Nostradamus. Any other vague claims?

Just look at the amount of physical money (notes and coins) versus the total money supply. If everybody tried to withdraw their money from banks, it just wouldn't be possible. Paper money has been replaced by 1's and 0's on a network.
full member
Activity: 1834
Merit: 166
November 07, 2014, 11:02:05 PM
#28
Yeah btw, money as in paper money is dying a slow painful death, it will take decades but it will die, it's brain dead and on machines now kept alive by banksters and conmen in the governments.
Thanks Nostradamus. Any other vague claims?
member
Activity: 63
Merit: 10
November 06, 2014, 05:17:41 AM
#27
Yeah btw, money as in paper money is dying a slow painful death, it will take decades but it will die, it's brain dead and on machines now kept alive by banksters and conmen in the governments.
full member
Activity: 1834
Merit: 166
November 05, 2014, 10:34:47 PM
#26
when money dies we all get back to barter economy or other
Man, it sure would be easier if we could barter using an efficient means of exchange that everyone recognized...
newbie
Activity: 42
Merit: 0
November 05, 2014, 09:20:17 PM
#25
when money dies we all get back to barter economy or other
newbie
Activity: 42
Merit: 0
November 05, 2014, 06:40:09 PM
#24
There are so many reasons that one currency could die. And if that happens, it would simply be replaced with another one. Paper currency is backed-up by an issuing countrys gold reserved, thats why they cant just print money. Over printing would lead to a lower value of that currency.
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