SO WHAT EXACTLY IS MONEY?

in #blockchain7 years ago

SO WHAT EXACTLY IS MONEY?

A couple of weeks ago, a travelling circus visited our town, and we had to use their own TOKENS to pay for all the crazy stuff they had available inside their little "setup".

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When I saw those tokens, I just knew that I have to share something with you...

You see, most people simply don't get it ....

They think that MONEY as we know it is something either firmly enforced by governments or backed by gold (NOT since 1971!).

You may be surprised if I told you that money is EXACTLY what you see on the picture.

It's just an agreement between you and me that...

I can buy THIS, for THIS much of it.

Governments have made these agreements too, but it doesn't mean that "their" inventions are what you must use, and we know WELL today that there are MANY, MANY other options.

Anything that you and the person mutually agree to, that represents value (medium of exchange), can be considered as "MONEY".

If the circus tells me that 1 ride on a carousel costs 4 tokens ... and I agree with that, I pay them 4 tokens and off I go!

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I have willingly coins their "circle" because I've seen what they are offering and agreed to "rules of the game".

Can you NOW see why Cryptocurrencies are also increasing in popularity?

On top of that, with them, you exchange value on PEER-TO-PEER basis (me to you, no 3rd party between), dealing with a medium of exchange (cryptocurrency or token) that is strictly limited in supply, of which transfers ONLY typically take a few minutes and are conducted for a minimum fee.

Over the coming months and years, you will be seeing more and more news with regards to this space... but you really have to decide right NOW ...

Whether you will only be an OBSERVER of arguably the biggest technological shift of this century or an ACTIVE PARTICIPANT.

So HOW is it going to be?

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Money is value exchange!

I'm writing a long post about differentiating value-creating cryptocurrencies (fits the definition of money) and those that just jump into the bandwagon of new technology. Hope you read and critique it.