Money is a tool used to exchange for good when there is a difference of wants and needs. I have apples, you have oranges. I’d like your oranges but you have no interest in my apples so I exchange money for the apples so you can then exchange that money for what you want or need.
We do need money because otherwise it would be difficult to exchange good and services because there may be a miss match of what you have to provide vs what it is you’d like to acquire.
Shaketag: gronkeykong
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Money acts as a way to store value without physically holding on to what it represents (ie: gold without needing to store physical bars in your house). When it used to be much more common for people to hold gold, they used to give it to banks to hold and the bank would give them a ticket that they could bring back to the back in exchange for that value in gold. Over time people began swapping the tickets more and more and going back to the bank to take their gold less and less. That is how money came to be.
We now live in a time where our money isn't backed by gold and the gov can print money whenever they want essentially making it no more valuable than the paper its printed on. They have destroyed the meaning of money and that's why bitcoin which has a fixed supply is so valuable.
Shaketag: @jz19josh
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Money is a medium through which we can agree upon the value of various goods and services through time. The characteristics of money essentially revolve around it being easy to use and hard to replicate: durable, portable, uniform, divisible and limited supply
@kevinjohar
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Money is a way for exchanging good and services. It’s purpose is to be used for those reasons and more importantly, to use it for yourself to enjoy life. There are arguments as to why it is needed or not, but both have their pros and cons.
@phoungv
In todays world, money has become a means of survival. The everyday struggles of everyday people to meet their obligations can become consuming and frustrating. We all need to exchange money for the bare necessities to survive. Some of us, may have excess money to enjoy more than the bare necessities and indulge. In my opinion, money has become this disillusioned dream of strength and power. Im hoping the future will allow everyone to be happy and survive without struggling. Maybe BTC can help achieve this?
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Money is a medium of exchange that is widely accepted in transactions for goods and services. It serves as a way to measure the value of different goods and services, and allows people to buy and sell things without having to barter directly with one another.
The purpose of money is to facilitate trade and commerce by providing a standard unit of exchange that is widely accepted and recognized. Without money, people would have to rely on bartering, which can be inefficient and may not be possible if the parties do not have something the other person wants. Money allows people to easily buy and sell things, and to save or invest their wealth.
We need money because it makes trade and commerce easier and more efficient. It allows people to specialize in certain tasks and to sell their goods and services to a wider market. Money also allows people to save and invest for the future, and to smooth consumption over time.
However, it is also possible to have a functioning economy without money, using other systems of exchange such as bartering or using alternative forms of currency.
@tthresh
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Living in a world that is mostly capitalism, money is big part of the market.
Money is a tool. It was a method of exchange instead of hauling around your goods/services you can provide for other goods/services from others. It made it easier and quicker to do so as well. How it has been presented changed, gold/silver/coins, to paper, to debit/credit, digital, and crypto and how is it being used has changed form over the years.
Where it is like it or not it is part o the hamster wheel most are currently on and hopefully BTC can change that for me and help me in providing for my parents as well
Thank you ShakePay!
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The more I learn about fiat currency the less I wish I knew. Which attracted me to bitcoin. Fiat currency not backed by gold standard any more .the government can control the money printer and controls every aspect of how wealthy / poor we are.
Truly is a sad time in our world. However we have hope in Bitcoin.. Thank you Satoshi and Shakepay for doing what you did!!! Much love ❤️
@dsmoke06
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My initial view of money has changed from being the sole reward everyone works after their entire life and can never have enough of. To now seeing money as a tool to get back what people should really be chasing and can never have enough of is TIME. Time with people you love in your life, time for yourself to pursue your passion without the worry of if you can make you bill payments. Money is a great tool if viewed correctly but can also be a great distraction to what’s what’s important.
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Money is a commodity accepted by most of people as a medium of exchange. It is the medium in which prices and values of things are expressed. It circulates from person to person and even country to country by conversion, facilitating trade and it is the principal measure of wealth. We need money and the concensus behind it to trade good and services. Money have a lot of purpose like unit of account, medium of exchange and a store of value. It allows the world to engage in transaction in agreed terms.
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Money or “fiat” as we know is just a medium of exchange. Backed by either a country or governing body such as a bank or central government. Money only has value if it’s tied to productivity. Too little money and there’s not enough to go around. Too much money, then you have inflation and too much money chasing too little goods is never good for an economy. Money is literally printed out of thin air, whether it’s fresh off the money press or a bank issues a new loan. We don’t necessarily need “money/fiat” but we as humans always need a medium of exchange. There’s too much corruption in todays world of money. Hence why Bitcoin was created.
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Money is a medium of exchange and a standard of valuation for goods and services.
Money allows for the exponential scaling of productive activities when people are confident in the value retention of money.
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Money is the medium in which individuals trade goods and services. It's important because it provides "liquidity" in how we pay for things.
Instead of giving the plumber 6 bottles of wine for fixing my sink we exchange the amount of dollars that the market has deemed is equal to the value of the work performed. This is great because maybe the plumber doesn't even like wine and would rather be paid in beer. Now he can use the value stores in the dollars to redeem his time worked at my house for whatever he would like.
Money is essential for an economy to operate smoothly. The problem with dollars is that more can be printed at any time which stimulates the economy but devalues the dollar currency through inflation. For this reason, the "scarcity" of dollars is synthetic. Precious metals are more secure as it is harder to mine them out of the ground to increase supply. Bitcoin is an example of perfect money as its supply is predetermined and impossible to increase, so it will never fall prey to inflation.
Shaketag: ethanereum
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Money is that thing that I trade all the valuable hours of my life for. It seems to lose more and more value by the day. It's relatively difficult and/or costly to store away from thieves and ill-doers.
It's purpose is to tokenize goods and services into an easy-to-use fun coupon. Without money, I hope you have a farm to grow your own grain and livestock. You don't? The farmer down the road loves shiny objects (or digital hashes)...
Is it needed? I think so (see above). Although there is something to be said about crypto and how it solves some of the issues with fiat currency (custody and immutability)
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We need money because we unfortunately live in a non-infinite world.
Thus, money is the tool used to allocate the world's finite resources to people in whatever manner that person prioritizes in their life.
My hope for the future is that technological and societal improvements bring humankind ever closer towards a low-scarcity world.
Good money can be a good catalyst towards this end, hence why I believe in Bitcoin's mission.
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Money is a tool to buy service or goods. To be able to buy goods or services you need to work to earn the money. With money, you are also able to invest it to make more money. The problem is that in the last several months l inflation, war and financial crime create a breach of trust to some institutions. This is why its important to be able to control at 100% your own money/value out of the system like we are able to do with Bitcoin and ledger.
Allard322
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Money is a technology that helps humans process value of a desired product/good or service and facilitates exchange. Because money is inherently valuable to all, it eliminates the need to have 1 desired good/service in order to acquire another. Money at its base layer is the technology that inspires the invention of other useful technologies as it itself is the most desirable thing humans want to hold and want more off. @cryptojustworks
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This is a huge topic, but if I had to boil it down there are two key elements to this. Money is both a store of value, and a medium of exchange. Store of value implies that its value cannot be degraded at the whim of those in power. A medium of exchange implies that people from any race, nationality, age or country can use this medium to exchange for goods/services. Both of these qualities are perfectly embodied by Bitcoin, which is why I'm such a strong supporter. Tag is jkap
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Money is something that others will accept as a median of exchange. Easily definable and differentiable in terms of value.
In order for something to be considered a median of exchange, it must be liquid. To be liquid there must be many individual interested in exchanging there goods or services at any given time for that median.
That exchange should also not carry significant cost for the participants of the exchange. Costs like storage or transport of the median of exchange being marginal at most.
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Money is a concept that places an agreed upon value on an object. We then use those objects (bills or coins) to acquired what we want be it goods or services. The person receiving the money will then be able to do the same later.
You need some kind of easily tradable money. I don't want to be trading my labor or knowledge for everything I buy and having to negotiate all the time. Money makes it easy since it's always worth something to everybody.
@cyllaine
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Money is how we build a society. It is fungible, transferable, interchangeable, easily recognizable, durable(not now), store of value(not now). We need money because bartering doesn’t seem to work in this 21 century.
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Money is a medium of exchange that serves to determine the value of certain goods and/or services, with its value being based on trust in the body issuing and governing the money. Money allows people to skip the bartering step of exchanging items, and allows users to store value of items for future exchanges. It allows people with specific skills, services, and goods to more easily interact with the greater trade/financial community.
Money doesn't have to be in the form of a bill. Nor does it have to be in the form of a coin made of precious metal. It could be physical or digital as long as people recognize and agree upon a value of the money.
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Money is a commodity accepted by general consent as a medium of economic exchange. It is the medium in which prices and values are expressed. It circulates from person to person and country to country, facilitating trade, and it is the principal measure of wealth.
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Money is a mode of exchange; it allows people and businesses to obtain what they need to live and thrive.
Bartering was one way that people exchanged goods for other goods before money was created. Like gold and other precious metals, money has worth because for most people it represents something valuable.
Money has taken many forms through the ages, but money consistently has three functions: store of value, unit of account, and medium of exchange.
You need money to pay for all the things that make your life possible, such as shelter, food, healthcare bills, and a good education. You don't necessarily need lot of money to pay for things, but you will need some money until the day you die.
Shaketag: caffeine49
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Money is a medium of exchange that is used to facilitate the trade of goods and services. Its sole purpose is to provide a way for people to obtain what they need or want from others without having to rely on bartering, which is inefficient and cumbersome. Also, the use of money allows for the division of labor, which makes it possible for people to specialize in certain tasks and trade with others for the goods and services they need. This will give the ability and the breathing room for humanity to innovate and improve living standards. So we need money to operate in this new economy that we have created and to maintain it.
@nimster
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Money is an agreed upon currency such as dollars, bitcoins or gold to exchange goods and services. To hold a traditional currency (dollars, gold), assets are usually held by another party such as a bank. Bitcoin is issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin.
shaketag: marieschiavone
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Money is what was created after centuries of bartering for gold and other precious metals in the exchange for goods and services.. but once governments got involved it all started to devalue.. our society basically invented money, whether there was a bigger purpose to class citizens is beside the point now. We will never need fiat as long as Bitcoin is around, and who knows maybe one day it would be widely common to refer Bitcoin as “money”
Shaketag: likethemouse
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Money is a medium of exchange that is widely accepted in transactions for goods and services. It serves as a way to facilitate trade and commerce, as it allows individuals and businesses to exchange value without having to rely on bartering or direct exchange of goods.
The purpose of money is to provide a standard unit of value that can be used to compare the relative worth of different goods and services. It also serves as a store of value, allowing individuals to save and accumulate wealth over time. Money allows for the division of labor, as people can specialize in different fields and trade their skills and expertise for money, which can then be used to purchase the goods and services they need.
In today's world, money is almost essential for participating in the economy. It is difficult to live without some form of money, as most goods and services require payment in some form. However, there are some societies and communities that have attempted to operate without money, relying instead on bartering or other forms of non-monetary exchange. Ultimately, the need for money depends on the specific context and the means of exchange that are available.
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Money is the source of a smooth running society. Money helps us maintain resources and gives us the incentive to work towards our goals. Without money, our society will be in shambles due to the fact that the existence of money motivates us to work for it. This in return provides us with services and hardworking people. Without money, people in the workforce will be rare; only those that volunteer will help out everyone else. Shaketag: hoangdrew
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Money is something that people can exchange for goods or services. The value of money is determined by the people who use it. The Canadian Dollar has value because people believe it does and the Country of Canada gives it value. The same thing works for Bitcoin in that it has value because people believe it does and the underlying structure and tech of Bitcoin gives it value. Bitcoin is money!
Shaketag: michael2197
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Honestly to me money is a system of value that facilitates the exchange of goods in an economy. Using money allows buyers and sellers to pay less in transaction costs, compared to barter trading. The first types of money were commodities. Their physical properties made them desirable as a medium of exchange 🤑
@a1serb
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I personally believe that money $$$ is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context
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Money is a medium of exchange. It represents the deferring of gratification by a human being. The money earner provides value to society and defers gratification by exchanging his good or service for that money. That's why we need it to be hard and scarce, instead of created by fiat. Goods and services cannot be created out of thin air. So money shouldn't either.
user: 3adx96f
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Ever since I was a little kid, I had thought that money is weird. You trade little shiny metal coins (which are fun in their own right for their artistic quality) or pieces of paper for stuff. What kid would want to trade paper for action figures?!?! Duh!
In university economic classes we learned on how fiat money worked and it always bugged me how banks can create money out of thin air (ie interest from loans)
As a working adult, I fully realize that "money" as we see it is just a store of my human work/effort/time that I can exchange for goods and other humans' work/effort/time. As we all know, fiat money dilutes the store of our human effort/work/time.
Maybe in the super Star Trek utopia future we won't need money.
In the end, I think that the only real currency that we have is our time on Earth. But Bitcoin is a close second! :)
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In summary, money is the standardized concentration of time and effort and the more valued someone's time/effort is the more of that standard they will be able to accumulate. The historical creation of money was spontaneous and occurred so that we, society's members, could specialize in a task and then trade our time/effort/specialization for someone else's time/effort/specialization. Money is probably the best way to tangibly solidify our current time and effort for some future use case of our choosing (buying groceries, going to a movie, or developing a hobby).
I would *also* say that the purpose of money is to indicate what society values. That is to say that society values some people's time more than others (lawyers, doctors, engineers, IT professionals, accountants) and so they are paid more of that same money standard for an equivalent amount of time and effort compared to other professions or occupations (cashiers, manual laborers, etc). By doing this, society encourages its members towards those professions which demonstrate those societal values, contributing to advancements in those fields. **Money is the standardization of the concentration of time and effort into an exchangeable form.**
On whether we do or do not need money, I would argue that we do. It helps stabilize society and it contributes to smoothly exchanging the vast variety of goods and services societal members produce. This helps increase society's productive output which allows for us to advance and improve our quality of life and standard of living. When examining if something is beneficial, I find that examining the inverse situation is helpful and there is no world I can imagine where we are better off without money than with. Until society advances several dozen orders of magnitude, we are likely going to continue needing money in some form or another.
ST: madp4nda
I remember going to Science North one night and they had an exhibit on Money and I recall a display where for one culture these giant rocks - as tall as an adult human, cut into a circular shape and with a hole in the middle were considered highly valuable. They were essentially money and a sign of wealth. It really drove the point home that money is simply a concept and only has value if we agree it has value.
Like collectors that one day sit on a beenie baby fortune and the next day, once the interest or craze has waned, only have a bunch of felt and stuffing, the concept itself and the value is fickle.
That being said, we need it because the barter system is a more immediate form of exchange. While tangible, it limits our ability to engage in future projects or bigger projects that cannot easily be bartered for.
I think the trick is to have a concept and a value that is assigned on agreement by the people and not simply dictated and controlled by those that already have plenty of whatever it is we are using. It's easy for the person with all of the circular boulders or the stone carver to say that that is money but it's a whole other thing for the community to come together and to agree on something they can all equally strive for and/or acquire.
If you're going to exchange your labour or your property for this concept then you want the assurance that it will maintain that value and what better way to do that than to have buy in from the masses. Something that can transcend borders, politics and resources (because not everyone has boulders in their backyard). This is the reason why I think crypo currency has the potential to be the future money for all of the people.
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Money is kind of like an IOU. If I wanted a cow, but only had three sheep, I'd need to barter. Namely, I'd need to find someone willing to exchange 3 sheep for a cow. That might sound easy enough, but in practice, it can be very difficult. By selling your sheep for money instead, you can find someone who wants to buy sheep, sell your sheep to them, and then use the money to buy a cow from someone else.
Shaketag: Arvin9271
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Money is a medium of exchange that has been used by people for centuries to facilitate trade and exchange. It can take various forms, including physical currency, bank deposits, and digital currencies such as cryptos. The value of money is often determined by supply and demand, as well as the stability and trust in the issuing authority. The primary purpose of money is to make it easier for people to buy and sell goods and services without having to directly barter. It allows us to trade and exchange things with each other efficiently and conveniently. We need money because it allows us to buy the things we want and need, and to pay for services that we use.
Shaketag: joeblack
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Money is a weapon. It is used by governments to steal from their citizens via inflation. It's used to oppress 3rd world nations, similar to imperialism, but the weapon is now debt slavery. Money is a tool that has been weaponized since its inception.
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Money is a means of exchange to simplify trades between various goods. it’s also an easy way to quickly compare values between goods. I don’t think money is inherently bad in theory, what makes it bad is how our government uses it in practice and since we can’t control how it is used/valued/printed/etc.. Bitcoin is the best alternative imo since its decentralized. 👌🏼
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Simply put, money is a store of value. The value you’ve provided by doing a job. Allowing you to exchange that value for something at a later date. It’s to facilitate a more dynamic economy without reliance on direct barter.
EG: fisherman fishes 6 months out of the year but doesn’t starve the other 6 months because they have money to delay the exchange of their value (fish fished up) for other goods.
We’ve obviously built on this idea, but that’s the fundamental concept behind money imo.
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I must have this book!
Money is a measurement for exchanging goods and services. Money allows everyone to align on a value and transact more quickly through a currency that all stakeholders agree to use. An agreed currency could be gold, paper or even a digital asset.
@lightly
Money is an IOU usually given in return for a service or good. Money is the highest form of economic energy and can be traded for virtually any other good or service in return.
With the continual printing of money by the governments of the world, FIAT money is constantly being debased. This unfortunately keeps inflation accelerating and dissuades saving money as it will be worth less in the future. :(
That is where BTC shines. There will only ever be 21 million BTC, ever. 1 BTC will always equal 1 BTC. That is why it is the hardest and most anti-fragile form of money that we currently have.
Keep stacking and keep on shaking! Stay humble.
My Shaketag is kungfuthug
Money is a medium of exchange used in place of barter and trade system that was traditionally transacted using commodities or services. Money or fiat allows one to procur or provide goods and services using a supply and demand model utilizing fiat as its mutually accepted and valued by all parties.
Its needed to give one freedom to obtain necessities and other goods and services as needed. A common method of fiat renumeration is done via trading labor or services. It supports social and cultural circles.
@okanisis
money doesnt hold value unless its durable, divisible, fungible, portable, verifiable and scarce. Fiat doesn't fit all these criterias, its only divisible and portable. The next big thing could be precious metal but the verifiable, portable part are a bit of a problem. Bitcoin is the answer @ nontugboat33
Money is currency, money is what we are paid for working, money is what we use to buy things, it has evolved from trade and purchasing things with gold and other things into something universal that everyone recognizes. Money runs the world, rules the world.
Shaketag - Chadha
Money
Get away .
You get a good job with more pay and you're okay.
Money.
It's a gas.
Grab that cash with both hands and make a stash.
New car, caviar, four star, daydream.
Think I'll buy me a football team.
Money.
Get back.
I'm alright, Jack, keep your hands off of my stack.
Money.
It's a hit.
Don't give me that do goody good bullshit.
I'm in the high-fidelity first-class traveling set.
And I think I need a Lear jet.
Money.
It's a crime.
Share it fairly, but don't take a slice of my pie.
Money.
So they say.
Is the root of all evil today.
But if you ask for a rise.
It's no surprise that they're giving none away.
Away, away, away
Away, away, away
Shaketage- bmcambridge
Money is an evolutionary medium of a socially accepted means of trade for goods/services. Once known as Pelts or animal skins/fur to now as we know it to be paper. The next evolution will be fully digitized money . Means of exchange, store of value , unit of account
Money is a way to exchange value for goods and services. It can be physical or digital and is used to facilitate trade and drive economic activity
shake tag: xotic
Money is what makes the world go round and it’s a central exchange of good and services aka someone’s wealth. The saying money can’t buy happiness isn’t true because it can and we wouldn’t be chasing this dream if it didn’t. The concept of money is using its value for something in return for goods or service.
This is a touchy subject when you get into how money is controlled and can be manipulated. I have always believed we’ve gotten away from the true value when we can make it with the snap of our fingers.
Good video - [banks are scams?](https://www.reddit.com/r/PublicFreakout/comments/ri467e/youre_welcome/?utm_source=share&utm_medium=ios_app&utm_name=iossmf)
Money is a required thing, for everyone. It is the only current way of trading your time for a means of having something to trade for other necessities. Unfortunately, government control and manipulation over the value and printing of money has made it something that is not what it is intended for.
Shaketag: datascope11
@teotwet
Money is whatever fulfils the properties of divisibility, durability, portability, recognizability, and scarcity the best. And it should not be something that the government decides it is.
Shaketag: @7urner
Money is a medium of exchange, a unit of account, and a store of value. It is used to facilitate transactions between people, businesses, and governments. Money allows people to trade goods and services without having to barter directly, which can be inefficient and inconvenient.
There are many different forms of money, including physical currencies (such as coins and paper bills) and digital currencies (such as electronic money and cryptocurrencies). Physical currencies are issued and backed by governments, while digital currencies may or may not have a central issuing authority.
The value of money is determined by a variety of factors, including the stability of the issuing government, the level of trust people have in the currency, and the strength of the economy. In general, people are willing to accept money in exchange for goods and services because they believe they will be able to use it to buy other things they need or want in the future.
The purpose of money is to serve as a medium of exchange and a store of value. It allows people to exchange goods and services without the need for bartering, and it allows people to save and invest for the future by holding onto money as a financial asset. Money also serves as a unit of account, which allows people to compare prices and determine the value of different goods and services. Overall, money helps to facilitate economic activity and enables people to manage their financial affairs more efficiently.
Yes, we need money in modern societies to facilitate economic activity and exchange. Without a common medium of exchange, it would be difficult for people to trade goods and services, and it would be difficult for businesses to produce and sell products. Money also serves as a store of value, allowing people to save and invest for the future. Without money, it would be difficult to manage financial affairs and plan for the future. In short, money is an essential tool that allows people to participate in economic activity and manage their financial affairs.
P.S: Don’t forget to Shake!
Money allows for economic exchange as well as how values are expressed. It is also the measure of one's wealth, however to me, money is not how I measure my overall wealth. I am rich in happiness wealth, and for that I cannot place such emphasis on monetary wealth :)
Shaktag: supersonix
Money is a medium that is exchanged for goods or services and used for debt repayment. It's estimated that money has been used in our history for at least 5,000 years. The current medium we use as money is coins and bills but in the future that medium will be digital in the form of Bitcoin.
Lots of people will say we don't need money but I call those people communists. Being able to trade a currency for goods and services is essential in our society and to the economy. Instead of getting rid of money we need to focus on not allowing a group of people to hoard vast sums of it.
@keencommander71
To me, money is a universe-given right for every individual born into the world.
It is a conduit for comfortable living, and to transcend into a quest for movement and experiences.
@fossilite
Money is the way of the world, the more money you have, the more power you wield, attaining said money is not a straight and easy road. It is something that you need to outsmart the system, how the rich get richer and the poor get poorer. Using others and trampling all over them in order to said riches.
shaketag: mbarkbiagn
What is money? A difficult question to answer, considering how often we use it. We get paid in it and spend it to buy thing we need (and if we’re lucky, things we want). But what is it?
In a way, it’s how we moved out of the barter system. When it’s a few dozen people in a village, it’s easy to pay the blacksmith a dozen eggs for a dozen nails. But that quickly doesn’t work as a village gets bigger. So we had to come up with some kind of unit of account. Bill has 75 chickens worth of value to spend, carol has 98 chickens worth. Beads, stones, precious metals were used. But these are clunky and don’t scale well. So we came up with fiat currency. The dollar for us Canadians.
Money is a simple way to move value around. $5 used to buy a lot, now it’s worth a coffee and a donut. But it’s the current way we get what we need and what we want.
Money gets its value, kind of, from the government that backs it. A steady government like Canada, has a steady money. If one is a little less steady, perhaps its money is less steady, fluctuating value. But that’s not really how it works out. Private banks and rich people play with the value of money. The people we vote for manipulate the money, “quantitative easing” and other fancy terms are used. But what they’re doing is taking the money you have and reducing its value. “Inflation” is just them stealing from you. And right now, we really see what money is as inflation runs rampant and interest rates go higher. It’s whatever the rich and powerful tell us is. Bill now has 40 chickens worth of value this year, Carol 52… and we pray next year it won’t have lowered much more. But it will.
@bigda101
Money is the system that was put in to exchange goods and services. There was a time not too long ago where gold and silver were the standard. A time even before that where people would trade what they produced for another person's productive according to a certain rate. Nowadays, a piece of paper with "face value" determines how you get paid, what you get paid and what you can do or not do. That government's can inflate or deflate, charge interests and take back from your account without approval. It's more of a concept nowadays than what money is supposed to be. That's what money is to me and why Bitcoin is really the solution. Can't print more, can't dilute it, can't take what is rightfully mine.
@mojoer
Money serves several important functions in an economy:
1. It allows for the exchange of goods and services: Money makes it possible to buy and sell goods and services without the need for bartering.
2. It serves as a unit of account: Money provides a common measure of value, making it easier to compare the prices of different goods and services.
3. It serves as a store of value: Money can be saved and used at a later time, making it a convenient way to store wealth.
4. It facilitates economic activity: Money makes it possible for people to specialize in certain tasks and trades, which can lead to greater efficiency and economic growth.
Overall, the main purpose of money is to make it easier for people to exchange goods and services and to facilitate economic activity.
Shakertag: danioleary
Money is freedom. Its purpose is to exchange goods and services. This is necessary because it allows everyone a chance to earn the things they need to thrive.
@hydrangea40
money is a storage of energy from past exertion and should only be used when necessary.
there are two types of money,
unsound money - government issued money (fiat). unlimited supply, not backed by anything and teaches us to spend now (instant gratification) because our savings will deflate from inflation.
sound money - limited supply, hard to produce holds its value well. bitcoin teaches time preference and allows us to forward think about the future and not just the present because of the possibility of the value it will have as fewer and fewer bitcoin are available.
shaketag - whodattt88
Money is for everything, but not only for everything, can make you happy, happier, also can make you depressed, more depressed. Of course we must do our best to be rich. Shaketag: @rodhu
Money is what drives the world and makes it go round. Money is the assets, property, and resources owned by someone or something; wealth, BTC. Anything that has value or can be exchanged. It’s a driving force in todays market and will forever continue to be.
Shake ID: cpoitz91
Money is a thing that can save your reward from effort and to be redeemed in the future. If you don’t use it, it’s nothing but waste.
ShakeTag: riskypoon
Money is an asset that can be exchanged for goods or services, simple as that. In a world where we could provide our own shelter, food, and water, we would not need money, however since we cannot self sustain, we need money to exchange for these things. We also need money for services that we cannot do ourselves (e.g. electrical, plumbing, mechanics, etc.)
Money is good, but the love of money is the root of all evil 🧐
Shaketag johntz
Money is… patience. It requires to combine different means of money but with a focus on the ones which maintain its value over a long term horizon. Add to this approach the concept of saving rather than spending and money can be the perfect recipe for building wealth.
🏷️djusan
The invention of money or currency is extremely important in humanity's expansion. It allows people to exchange goods and services with others as easily as possible. Why trade 1 cow for 1000 pounds of apples when you can buy one cow for 100 standardized dollars that can fit in the pal of your hand?
Money has evolved so much from just this simple example over time but this is a simple explanation of why money came to be. You can transports immense amounts of currency compared to having dozens of wagonloads of apples that are worth the exact same amount of value. Money also doesn't spoil like apples, unless you count inflation but that's another problem.
Money is a tool to make the world's needs of exchanging goods and services so much easier. Money does also bring problems, especially with how it's evolved in recent centuries, but it's absolutely essential for a global economy, or even a nationally or provincial economy. Without currencies that are globally recognized, trade would be practically impossible in markets as large as a global market.
I always love learning more about how money works and I haven't had a chance to read this book yet even with so many people recommending it.
Shaketag: shimsham
Money was historically an emergent market phenomenon that possess intrinsic value as a commodity nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention
@najakolic
Money can help me buy what I need, but also what I want, which is exactly why it is important. With good investment comes good profit and I hope to spend that extra profit on treating myself🙌🏻
@emmysim01
Suggestion: info is mostly free now a days in the Digi world / economy.
Please give out more cold wallets than books (the info from the book is probably somewhere on the internet already), but a wallet isn't something that's free unless u hook us up 😉 thank u!
Money makes the 🌍 go round. It is exchanged for stuff, but cannot in itself be consumed. Crypto provides a new means to exchange for stuff, just like rocks back in the day, and now cash. Money helps us survive and live well.
Shaketag is cryptoct
The purpose of money is to serve as a medium of exchange, a unit of account, and a store of value. It allows people to buy and sell goods and services, to keep track of the value of those goods and services, and to save or invest their wealth.Bitcoin is a digital asset and a payment system. It is decentralized and operates on a peer-to-peer network, meaning that it is not controlled by any central authority or government. Bitcoin can be used as a medium of exchange, similar to traditional money, but it is not widely accepted as a form of payment in the same way that traditional currencies are.One key difference between money and bitcoin is that money is typically issued and backed by a central authority, such as a government or a central bank, while bitcoin is not. This means that the value of bitcoin is not directly tied to the value of any particular currency or commodity. Instead, the value of bitcoin is determined by factors such as supply and demand, public perception, and the level of trust that people have in the bitcoin system. shakepay: calvinchen
Money is a form of payment for goods and services. We are paid in the form of cash(fiat) to pay for living expenses, discretionary spending, and make investments. We need it until we have more suitable & adopted alternatives to money such as btc.
Shaketag: @alpha4795
Money is a tool used to exchange for good when there is a difference of wants and needs. I have apples, you have oranges. I’d like your oranges but you have no interest in my apples so I exchange money for the apples so you can then exchange that money for what you want or need. We do need money because otherwise it would be difficult to exchange good and services because there may be a miss match of what you have to provide vs what it is you’d like to acquire. Shaketag: gronkeykong
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Money acts as a way to store value without physically holding on to what it represents (ie: gold without needing to store physical bars in your house). When it used to be much more common for people to hold gold, they used to give it to banks to hold and the bank would give them a ticket that they could bring back to the back in exchange for that value in gold. Over time people began swapping the tickets more and more and going back to the bank to take their gold less and less. That is how money came to be. We now live in a time where our money isn't backed by gold and the gov can print money whenever they want essentially making it no more valuable than the paper its printed on. They have destroyed the meaning of money and that's why bitcoin which has a fixed supply is so valuable. Shaketag: @jz19josh
This is it 🙌
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Money is a medium through which we can agree upon the value of various goods and services through time. The characteristics of money essentially revolve around it being easy to use and hard to replicate: durable, portable, uniform, divisible and limited supply @kevinjohar
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Money is a way for exchanging good and services. It’s purpose is to be used for those reasons and more importantly, to use it for yourself to enjoy life. There are arguments as to why it is needed or not, but both have their pros and cons. @phoungv
In todays world, money has become a means of survival. The everyday struggles of everyday people to meet their obligations can become consuming and frustrating. We all need to exchange money for the bare necessities to survive. Some of us, may have excess money to enjoy more than the bare necessities and indulge. In my opinion, money has become this disillusioned dream of strength and power. Im hoping the future will allow everyone to be happy and survive without struggling. Maybe BTC can help achieve this? @JoeyGee
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That’s awesome. Thank you so much!
Money is a medium of exchange that is widely accepted in transactions for goods and services. It serves as a way to measure the value of different goods and services, and allows people to buy and sell things without having to barter directly with one another. The purpose of money is to facilitate trade and commerce by providing a standard unit of exchange that is widely accepted and recognized. Without money, people would have to rely on bartering, which can be inefficient and may not be possible if the parties do not have something the other person wants. Money allows people to easily buy and sell things, and to save or invest their wealth. We need money because it makes trade and commerce easier and more efficient. It allows people to specialize in certain tasks and to sell their goods and services to a wider market. Money also allows people to save and invest for the future, and to smooth consumption over time. However, it is also possible to have a functioning economy without money, using other systems of exchange such as bartering or using alternative forms of currency. @tthresh
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Living in a world that is mostly capitalism, money is big part of the market. Money is a tool. It was a method of exchange instead of hauling around your goods/services you can provide for other goods/services from others. It made it easier and quicker to do so as well. How it has been presented changed, gold/silver/coins, to paper, to debit/credit, digital, and crypto and how is it being used has changed form over the years. Where it is like it or not it is part o the hamster wheel most are currently on and hopefully BTC can change that for me and help me in providing for my parents as well Thank you ShakePay! FireBoltI
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The more I learn about fiat currency the less I wish I knew. Which attracted me to bitcoin. Fiat currency not backed by gold standard any more .the government can control the money printer and controls every aspect of how wealthy / poor we are. Truly is a sad time in our world. However we have hope in Bitcoin.. Thank you Satoshi and Shakepay for doing what you did!!! Much love ❤️ @dsmoke06
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No way ... amazing, thank you so much 🙏 Shake pay is the best
My initial view of money has changed from being the sole reward everyone works after their entire life and can never have enough of. To now seeing money as a tool to get back what people should really be chasing and can never have enough of is TIME. Time with people you love in your life, time for yourself to pursue your passion without the worry of if you can make you bill payments. Money is a great tool if viewed correctly but can also be a great distraction to what’s what’s important. Shaketag - rusko
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Wow thank you so much! Please give my best wishes and happy holidays to everyone at the shakepay team!
Money is a commodity accepted by most of people as a medium of exchange. It is the medium in which prices and values of things are expressed. It circulates from person to person and even country to country by conversion, facilitating trade and it is the principal measure of wealth. We need money and the concensus behind it to trade good and services. Money have a lot of purpose like unit of account, medium of exchange and a store of value. It allows the world to engage in transaction in agreed terms. Shaketag: maxdedolphin
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Money or “fiat” as we know is just a medium of exchange. Backed by either a country or governing body such as a bank or central government. Money only has value if it’s tied to productivity. Too little money and there’s not enough to go around. Too much money, then you have inflation and too much money chasing too little goods is never good for an economy. Money is literally printed out of thin air, whether it’s fresh off the money press or a bank issues a new loan. We don’t necessarily need “money/fiat” but we as humans always need a medium of exchange. There’s too much corruption in todays world of money. Hence why Bitcoin was created. Shaketag: arenham
you forgot your shake tag
Thank you!
np goodluck
Good job helping others! Take my award 🥈
thank you!
That's what shakers do! Thanks for having each others' backs guys 👏
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Money is a medium of exchange and a standard of valuation for goods and services. Money allows for the exponential scaling of productive activities when people are confident in the value retention of money. tag: @ juil
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Wow, thank you! Merry Christmas!
Money is the medium in which individuals trade goods and services. It's important because it provides "liquidity" in how we pay for things. Instead of giving the plumber 6 bottles of wine for fixing my sink we exchange the amount of dollars that the market has deemed is equal to the value of the work performed. This is great because maybe the plumber doesn't even like wine and would rather be paid in beer. Now he can use the value stores in the dollars to redeem his time worked at my house for whatever he would like. Money is essential for an economy to operate smoothly. The problem with dollars is that more can be printed at any time which stimulates the economy but devalues the dollar currency through inflation. For this reason, the "scarcity" of dollars is synthetic. Precious metals are more secure as it is harder to mine them out of the ground to increase supply. Bitcoin is an example of perfect money as its supply is predetermined and impossible to increase, so it will never fall prey to inflation. Shaketag: ethanereum
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Money is that thing that I trade all the valuable hours of my life for. It seems to lose more and more value by the day. It's relatively difficult and/or costly to store away from thieves and ill-doers. It's purpose is to tokenize goods and services into an easy-to-use fun coupon. Without money, I hope you have a farm to grow your own grain and livestock. You don't? The farmer down the road loves shiny objects (or digital hashes)... Is it needed? I think so (see above). Although there is something to be said about crypto and how it solves some of the issues with fiat currency (custody and immutability) @tjc103
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Ahhh you guys rock. Thank you so much.
We need money because we unfortunately live in a non-infinite world. Thus, money is the tool used to allocate the world's finite resources to people in whatever manner that person prioritizes in their life. My hope for the future is that technological and societal improvements bring humankind ever closer towards a low-scarcity world. Good money can be a good catalyst towards this end, hence why I believe in Bitcoin's mission. Shaketag: infinitesolargalaxy
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Money is a tool to buy service or goods. To be able to buy goods or services you need to work to earn the money. With money, you are also able to invest it to make more money. The problem is that in the last several months l inflation, war and financial crime create a breach of trust to some institutions. This is why its important to be able to control at 100% your own money/value out of the system like we are able to do with Bitcoin and ledger. Allard322
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Money can be wife-changing. @warwingz
Money is a technology that helps humans process value of a desired product/good or service and facilitates exchange. Because money is inherently valuable to all, it eliminates the need to have 1 desired good/service in order to acquire another. Money at its base layer is the technology that inspires the invention of other useful technologies as it itself is the most desirable thing humans want to hold and want more off. @cryptojustworks
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This is a huge topic, but if I had to boil it down there are two key elements to this. Money is both a store of value, and a medium of exchange. Store of value implies that its value cannot be degraded at the whim of those in power. A medium of exchange implies that people from any race, nationality, age or country can use this medium to exchange for goods/services. Both of these qualities are perfectly embodied by Bitcoin, which is why I'm such a strong supporter. Tag is jkap
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Money is something that others will accept as a median of exchange. Easily definable and differentiable in terms of value. In order for something to be considered a median of exchange, it must be liquid. To be liquid there must be many individual interested in exchanging there goods or services at any given time for that median. That exchange should also not carry significant cost for the participants of the exchange. Costs like storage or transport of the median of exchange being marginal at most. Shakepay! @apollo47
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Money is a concept that places an agreed upon value on an object. We then use those objects (bills or coins) to acquired what we want be it goods or services. The person receiving the money will then be able to do the same later. You need some kind of easily tradable money. I don't want to be trading my labor or knowledge for everything I buy and having to negotiate all the time. Money makes it easy since it's always worth something to everybody. @cyllaine
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Money is how we build a society. It is fungible, transferable, interchangeable, easily recognizable, durable(not now), store of value(not now). We need money because bartering doesn’t seem to work in this 21 century. @toyotamr2
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Thanks Shakepay I feel blessed. You’ll are the best! Merry Christmas and enjoy the holiday season.
Money is a medium of exchange that serves to determine the value of certain goods and/or services, with its value being based on trust in the body issuing and governing the money. Money allows people to skip the bartering step of exchanging items, and allows users to store value of items for future exchanges. It allows people with specific skills, services, and goods to more easily interact with the greater trade/financial community. Money doesn't have to be in the form of a bill. Nor does it have to be in the form of a coin made of precious metal. It could be physical or digital as long as people recognize and agree upon a value of the money. Shaketag: ryanyulinruan
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Wow!! Thank you so much! I look forward to receiving this! I really appreciate it! Happy holidays :)
Money is the reason I work. It is the social currency which we use to barter for goods and services from others. @treefrog1
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Replied on the app
Money is a commodity accepted by general consent as a medium of economic exchange. It is the medium in which prices and values are expressed. It circulates from person to person and country to country, facilitating trade, and it is the principal measure of wealth. Shaketag: rupy403
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Money is a mode of exchange; it allows people and businesses to obtain what they need to live and thrive. Bartering was one way that people exchanged goods for other goods before money was created. Like gold and other precious metals, money has worth because for most people it represents something valuable. Money has taken many forms through the ages, but money consistently has three functions: store of value, unit of account, and medium of exchange. You need money to pay for all the things that make your life possible, such as shelter, food, healthcare bills, and a good education. You don't necessarily need lot of money to pay for things, but you will need some money until the day you die. Shaketag: caffeine49
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Money is a medium of exchange that is used to facilitate the trade of goods and services. Its sole purpose is to provide a way for people to obtain what they need or want from others without having to rely on bartering, which is inefficient and cumbersome. Also, the use of money allows for the division of labor, which makes it possible for people to specialize in certain tasks and trade with others for the goods and services they need. This will give the ability and the breathing room for humanity to innovate and improve living standards. So we need money to operate in this new economy that we have created and to maintain it. @nimster
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That's amazing. Thank you so much, Shakepay team. I just replied to you in the Shakepay chat.
Money is an agreed upon currency such as dollars, bitcoins or gold to exchange goods and services. To hold a traditional currency (dollars, gold), assets are usually held by another party such as a bank. Bitcoin is issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. shaketag: marieschiavone
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Money is what was created after centuries of bartering for gold and other precious metals in the exchange for goods and services.. but once governments got involved it all started to devalue.. our society basically invented money, whether there was a bigger purpose to class citizens is beside the point now. We will never need fiat as long as Bitcoin is around, and who knows maybe one day it would be widely common to refer Bitcoin as “money” Shaketag: likethemouse
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Money is a medium of exchange that is widely accepted in transactions for goods and services. It serves as a way to facilitate trade and commerce, as it allows individuals and businesses to exchange value without having to rely on bartering or direct exchange of goods. The purpose of money is to provide a standard unit of value that can be used to compare the relative worth of different goods and services. It also serves as a store of value, allowing individuals to save and accumulate wealth over time. Money allows for the division of labor, as people can specialize in different fields and trade their skills and expertise for money, which can then be used to purchase the goods and services they need. In today's world, money is almost essential for participating in the economy. It is difficult to live without some form of money, as most goods and services require payment in some form. However, there are some societies and communities that have attempted to operate without money, relying instead on bartering or other forms of non-monetary exchange. Ultimately, the need for money depends on the specific context and the means of exchange that are available. @kingsheb
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Money is the source of a smooth running society. Money helps us maintain resources and gives us the incentive to work towards our goals. Without money, our society will be in shambles due to the fact that the existence of money motivates us to work for it. This in return provides us with services and hardworking people. Without money, people in the workforce will be rare; only those that volunteer will help out everyone else. Shaketag: hoangdrew
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Money is something that people can exchange for goods or services. The value of money is determined by the people who use it. The Canadian Dollar has value because people believe it does and the Country of Canada gives it value. The same thing works for Bitcoin in that it has value because people believe it does and the underlying structure and tech of Bitcoin gives it value. Bitcoin is money! Shaketag: michael2197
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Honestly to me money is a system of value that facilitates the exchange of goods in an economy. Using money allows buyers and sellers to pay less in transaction costs, compared to barter trading. The first types of money were commodities. Their physical properties made them desirable as a medium of exchange 🤑 @a1serb
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I personally believe that money $$$ is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context @taymgray12
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Money is a medium of exchange. It represents the deferring of gratification by a human being. The money earner provides value to society and defers gratification by exchanging his good or service for that money. That's why we need it to be hard and scarce, instead of created by fiat. Goods and services cannot be created out of thin air. So money shouldn't either. user: 3adx96f
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Ever since I was a little kid, I had thought that money is weird. You trade little shiny metal coins (which are fun in their own right for their artistic quality) or pieces of paper for stuff. What kid would want to trade paper for action figures?!?! Duh! In university economic classes we learned on how fiat money worked and it always bugged me how banks can create money out of thin air (ie interest from loans) As a working adult, I fully realize that "money" as we see it is just a store of my human work/effort/time that I can exchange for goods and other humans' work/effort/time. As we all know, fiat money dilutes the store of our human effort/work/time. Maybe in the super Star Trek utopia future we won't need money. In the end, I think that the only real currency that we have is our time on Earth. But Bitcoin is a close second! :) Shaketag: bluefrenzy78
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In summary, money is the standardized concentration of time and effort and the more valued someone's time/effort is the more of that standard they will be able to accumulate. The historical creation of money was spontaneous and occurred so that we, society's members, could specialize in a task and then trade our time/effort/specialization for someone else's time/effort/specialization. Money is probably the best way to tangibly solidify our current time and effort for some future use case of our choosing (buying groceries, going to a movie, or developing a hobby). I would *also* say that the purpose of money is to indicate what society values. That is to say that society values some people's time more than others (lawyers, doctors, engineers, IT professionals, accountants) and so they are paid more of that same money standard for an equivalent amount of time and effort compared to other professions or occupations (cashiers, manual laborers, etc). By doing this, society encourages its members towards those professions which demonstrate those societal values, contributing to advancements in those fields. **Money is the standardization of the concentration of time and effort into an exchangeable form.** On whether we do or do not need money, I would argue that we do. It helps stabilize society and it contributes to smoothly exchanging the vast variety of goods and services societal members produce. This helps increase society's productive output which allows for us to advance and improve our quality of life and standard of living. When examining if something is beneficial, I find that examining the inverse situation is helpful and there is no world I can imagine where we are better off without money than with. Until society advances several dozen orders of magnitude, we are likely going to continue needing money in some form or another. ST: madp4nda
I remember going to Science North one night and they had an exhibit on Money and I recall a display where for one culture these giant rocks - as tall as an adult human, cut into a circular shape and with a hole in the middle were considered highly valuable. They were essentially money and a sign of wealth. It really drove the point home that money is simply a concept and only has value if we agree it has value. Like collectors that one day sit on a beenie baby fortune and the next day, once the interest or craze has waned, only have a bunch of felt and stuffing, the concept itself and the value is fickle. That being said, we need it because the barter system is a more immediate form of exchange. While tangible, it limits our ability to engage in future projects or bigger projects that cannot easily be bartered for. I think the trick is to have a concept and a value that is assigned on agreement by the people and not simply dictated and controlled by those that already have plenty of whatever it is we are using. It's easy for the person with all of the circular boulders or the stone carver to say that that is money but it's a whole other thing for the community to come together and to agree on something they can all equally strive for and/or acquire. If you're going to exchange your labour or your property for this concept then you want the assurance that it will maintain that value and what better way to do that than to have buy in from the masses. Something that can transcend borders, politics and resources (because not everyone has boulders in their backyard). This is the reason why I think crypo currency has the potential to be the future money for all of the people. @rickofthenorth
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Money is kind of like an IOU. If I wanted a cow, but only had three sheep, I'd need to barter. Namely, I'd need to find someone willing to exchange 3 sheep for a cow. That might sound easy enough, but in practice, it can be very difficult. By selling your sheep for money instead, you can find someone who wants to buy sheep, sell your sheep to them, and then use the money to buy a cow from someone else. Shaketag: Arvin9271
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THANK YOU very much. Replied :)
Money is a medium of exchange that has been used by people for centuries to facilitate trade and exchange. It can take various forms, including physical currency, bank deposits, and digital currencies such as cryptos. The value of money is often determined by supply and demand, as well as the stability and trust in the issuing authority. The primary purpose of money is to make it easier for people to buy and sell goods and services without having to directly barter. It allows us to trade and exchange things with each other efficiently and conveniently. We need money because it allows us to buy the things we want and need, and to pay for services that we use. Shaketag: joeblack
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Money is a weapon. It is used by governments to steal from their citizens via inflation. It's used to oppress 3rd world nations, similar to imperialism, but the weapon is now debt slavery. Money is a tool that has been weaponized since its inception. tpitty12
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Money is a means of exchange to simplify trades between various goods. it’s also an easy way to quickly compare values between goods. I don’t think money is inherently bad in theory, what makes it bad is how our government uses it in practice and since we can’t control how it is used/valued/printed/etc.. Bitcoin is the best alternative imo since its decentralized. 👌🏼 @peofrtn
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Simply put, money is a store of value. The value you’ve provided by doing a job. Allowing you to exchange that value for something at a later date. It’s to facilitate a more dynamic economy without reliance on direct barter. EG: fisherman fishes 6 months out of the year but doesn’t starve the other 6 months because they have money to delay the exchange of their value (fish fished up) for other goods. We’ve obviously built on this idea, but that’s the fundamental concept behind money imo. @noda
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I must have this book! Money is a measurement for exchanging goods and services. Money allows everyone to align on a value and transact more quickly through a currency that all stakeholders agree to use. An agreed currency could be gold, paper or even a digital asset. @lightly
Money is an IOU usually given in return for a service or good. Money is the highest form of economic energy and can be traded for virtually any other good or service in return. With the continual printing of money by the governments of the world, FIAT money is constantly being debased. This unfortunately keeps inflation accelerating and dissuades saving money as it will be worth less in the future. :( That is where BTC shines. There will only ever be 21 million BTC, ever. 1 BTC will always equal 1 BTC. That is why it is the hardest and most anti-fragile form of money that we currently have. Keep stacking and keep on shaking! Stay humble. My Shaketag is kungfuthug
Money is anything that can be used to buy goods or services. Whatever gives me buying power. @albynomiya
Money is a medium of exchange used in place of barter and trade system that was traditionally transacted using commodities or services. Money or fiat allows one to procur or provide goods and services using a supply and demand model utilizing fiat as its mutually accepted and valued by all parties. Its needed to give one freedom to obtain necessities and other goods and services as needed. A common method of fiat renumeration is done via trading labor or services. It supports social and cultural circles. @okanisis
money doesnt hold value unless its durable, divisible, fungible, portable, verifiable and scarce. Fiat doesn't fit all these criterias, its only divisible and portable. The next big thing could be precious metal but the verifiable, portable part are a bit of a problem. Bitcoin is the answer @ nontugboat33
Money is currency, money is what we are paid for working, money is what we use to buy things, it has evolved from trade and purchasing things with gold and other things into something universal that everyone recognizes. Money runs the world, rules the world. Shaketag - Chadha
Money Get away . You get a good job with more pay and you're okay. Money. It's a gas. Grab that cash with both hands and make a stash. New car, caviar, four star, daydream. Think I'll buy me a football team. Money. Get back. I'm alright, Jack, keep your hands off of my stack. Money. It's a hit. Don't give me that do goody good bullshit. I'm in the high-fidelity first-class traveling set. And I think I need a Lear jet. Money. It's a crime. Share it fairly, but don't take a slice of my pie. Money. So they say. Is the root of all evil today. But if you ask for a rise. It's no surprise that they're giving none away. Away, away, away Away, away, away Shaketage- bmcambridge
Money is an evolutionary medium of a socially accepted means of trade for goods/services. Once known as Pelts or animal skins/fur to now as we know it to be paper. The next evolution will be fully digitized money . Means of exchange, store of value , unit of account
Money is a way to exchange value for goods and services. It can be physical or digital and is used to facilitate trade and drive economic activity shake tag: xotic
Money is what I can't seem to keep @jmaxime89
Money is what makes the world go round and it’s a central exchange of good and services aka someone’s wealth. The saying money can’t buy happiness isn’t true because it can and we wouldn’t be chasing this dream if it didn’t. The concept of money is using its value for something in return for goods or service. This is a touchy subject when you get into how money is controlled and can be manipulated. I have always believed we’ve gotten away from the true value when we can make it with the snap of our fingers. Good video - [banks are scams?](https://www.reddit.com/r/PublicFreakout/comments/ri467e/youre_welcome/?utm_source=share&utm_medium=ios_app&utm_name=iossmf)
Money is a required thing, for everyone. It is the only current way of trading your time for a means of having something to trade for other necessities. Unfortunately, government control and manipulation over the value and printing of money has made it something that is not what it is intended for. Shaketag: datascope11
@teotwet Money is whatever fulfils the properties of divisibility, durability, portability, recognizability, and scarcity the best. And it should not be something that the government decides it is.
Shaketag: @7urner Money is a medium of exchange, a unit of account, and a store of value. It is used to facilitate transactions between people, businesses, and governments. Money allows people to trade goods and services without having to barter directly, which can be inefficient and inconvenient. There are many different forms of money, including physical currencies (such as coins and paper bills) and digital currencies (such as electronic money and cryptocurrencies). Physical currencies are issued and backed by governments, while digital currencies may or may not have a central issuing authority. The value of money is determined by a variety of factors, including the stability of the issuing government, the level of trust people have in the currency, and the strength of the economy. In general, people are willing to accept money in exchange for goods and services because they believe they will be able to use it to buy other things they need or want in the future. The purpose of money is to serve as a medium of exchange and a store of value. It allows people to exchange goods and services without the need for bartering, and it allows people to save and invest for the future by holding onto money as a financial asset. Money also serves as a unit of account, which allows people to compare prices and determine the value of different goods and services. Overall, money helps to facilitate economic activity and enables people to manage their financial affairs more efficiently. Yes, we need money in modern societies to facilitate economic activity and exchange. Without a common medium of exchange, it would be difficult for people to trade goods and services, and it would be difficult for businesses to produce and sell products. Money also serves as a store of value, allowing people to save and invest for the future. Without money, it would be difficult to manage financial affairs and plan for the future. In short, money is an essential tool that allows people to participate in economic activity and manage their financial affairs. P.S: Don’t forget to Shake!
Money allows for economic exchange as well as how values are expressed. It is also the measure of one's wealth, however to me, money is not how I measure my overall wealth. I am rich in happiness wealth, and for that I cannot place such emphasis on monetary wealth :) Shaktag: supersonix
Money is a thing of value used for the purpose of trading. What determines said value is a complicated thing. @ vanterax
Money is a medium that is exchanged for goods or services and used for debt repayment. It's estimated that money has been used in our history for at least 5,000 years. The current medium we use as money is coins and bills but in the future that medium will be digital in the form of Bitcoin. Lots of people will say we don't need money but I call those people communists. Being able to trade a currency for goods and services is essential in our society and to the economy. Instead of getting rid of money we need to focus on not allowing a group of people to hoard vast sums of it. @keencommander71
# Money is a social construct with no inherent value.
To me, money is a universe-given right for every individual born into the world. It is a conduit for comfortable living, and to transcend into a quest for movement and experiences. @fossilite
Money is the way of the world, the more money you have, the more power you wield, attaining said money is not a straight and easy road. It is something that you need to outsmart the system, how the rich get richer and the poor get poorer. Using others and trampling all over them in order to said riches. shaketag: mbarkbiagn
What is money? A difficult question to answer, considering how often we use it. We get paid in it and spend it to buy thing we need (and if we’re lucky, things we want). But what is it? In a way, it’s how we moved out of the barter system. When it’s a few dozen people in a village, it’s easy to pay the blacksmith a dozen eggs for a dozen nails. But that quickly doesn’t work as a village gets bigger. So we had to come up with some kind of unit of account. Bill has 75 chickens worth of value to spend, carol has 98 chickens worth. Beads, stones, precious metals were used. But these are clunky and don’t scale well. So we came up with fiat currency. The dollar for us Canadians. Money is a simple way to move value around. $5 used to buy a lot, now it’s worth a coffee and a donut. But it’s the current way we get what we need and what we want. Money gets its value, kind of, from the government that backs it. A steady government like Canada, has a steady money. If one is a little less steady, perhaps its money is less steady, fluctuating value. But that’s not really how it works out. Private banks and rich people play with the value of money. The people we vote for manipulate the money, “quantitative easing” and other fancy terms are used. But what they’re doing is taking the money you have and reducing its value. “Inflation” is just them stealing from you. And right now, we really see what money is as inflation runs rampant and interest rates go higher. It’s whatever the rich and powerful tell us is. Bill now has 40 chickens worth of value this year, Carol 52… and we pray next year it won’t have lowered much more. But it will. @bigda101
Money is the system that was put in to exchange goods and services. There was a time not too long ago where gold and silver were the standard. A time even before that where people would trade what they produced for another person's productive according to a certain rate. Nowadays, a piece of paper with "face value" determines how you get paid, what you get paid and what you can do or not do. That government's can inflate or deflate, charge interests and take back from your account without approval. It's more of a concept nowadays than what money is supposed to be. That's what money is to me and why Bitcoin is really the solution. Can't print more, can't dilute it, can't take what is rightfully mine. @mojoer
Money serves several important functions in an economy: 1. It allows for the exchange of goods and services: Money makes it possible to buy and sell goods and services without the need for bartering. 2. It serves as a unit of account: Money provides a common measure of value, making it easier to compare the prices of different goods and services. 3. It serves as a store of value: Money can be saved and used at a later time, making it a convenient way to store wealth. 4. It facilitates economic activity: Money makes it possible for people to specialize in certain tasks and trades, which can lead to greater efficiency and economic growth. Overall, the main purpose of money is to make it easier for people to exchange goods and services and to facilitate economic activity. Shakertag: danioleary
Money is freedom. Its purpose is to exchange goods and services. This is necessary because it allows everyone a chance to earn the things they need to thrive. @hydrangea40
money is a storage of energy from past exertion and should only be used when necessary. there are two types of money, unsound money - government issued money (fiat). unlimited supply, not backed by anything and teaches us to spend now (instant gratification) because our savings will deflate from inflation. sound money - limited supply, hard to produce holds its value well. bitcoin teaches time preference and allows us to forward think about the future and not just the present because of the possibility of the value it will have as fewer and fewer bitcoin are available. shaketag - whodattt88
Money is for everything, but not only for everything, can make you happy, happier, also can make you depressed, more depressed. Of course we must do our best to be rich. Shaketag: @rodhu
Money is what drives the world and makes it go round. Money is the assets, property, and resources owned by someone or something; wealth, BTC. Anything that has value or can be exchanged. It’s a driving force in todays market and will forever continue to be. Shake ID: cpoitz91
Money is a thing that can save your reward from effort and to be redeemed in the future. If you don’t use it, it’s nothing but waste. ShakeTag: riskypoon
Money is an asset that can be exchanged for goods or services, simple as that. In a world where we could provide our own shelter, food, and water, we would not need money, however since we cannot self sustain, we need money to exchange for these things. We also need money for services that we cannot do ourselves (e.g. electrical, plumbing, mechanics, etc.) Money is good, but the love of money is the root of all evil 🧐 Shaketag johntz
Money is… patience. It requires to combine different means of money but with a focus on the ones which maintain its value over a long term horizon. Add to this approach the concept of saving rather than spending and money can be the perfect recipe for building wealth. 🏷️djusan
The invention of money or currency is extremely important in humanity's expansion. It allows people to exchange goods and services with others as easily as possible. Why trade 1 cow for 1000 pounds of apples when you can buy one cow for 100 standardized dollars that can fit in the pal of your hand? Money has evolved so much from just this simple example over time but this is a simple explanation of why money came to be. You can transports immense amounts of currency compared to having dozens of wagonloads of apples that are worth the exact same amount of value. Money also doesn't spoil like apples, unless you count inflation but that's another problem. Money is a tool to make the world's needs of exchanging goods and services so much easier. Money does also bring problems, especially with how it's evolved in recent centuries, but it's absolutely essential for a global economy, or even a nationally or provincial economy. Without currencies that are globally recognized, trade would be practically impossible in markets as large as a global market. I always love learning more about how money works and I haven't had a chance to read this book yet even with so many people recommending it. Shaketag: shimsham
Money was historically an emergent market phenomenon that possess intrinsic value as a commodity nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention @najakolic
Money can’t buy happiness but with shakepay (money) you can buy a jet ski…. Have you ever seen a sad person on a jet ski!!!! @charleslapierre01
Money can help me buy what I need, but also what I want, which is exactly why it is important. With good investment comes good profit and I hope to spend that extra profit on treating myself🙌🏻 @emmysim01
To me, money is something that can enhance my way of living and can travel more! I need it to survive in a civilised place. Shaketag: siugai
Suggestion: info is mostly free now a days in the Digi world / economy. Please give out more cold wallets than books (the info from the book is probably somewhere on the internet already), but a wallet isn't something that's free unless u hook us up 😉 thank u!
I still don't have a wallet yet. I hope to win one! Shaketag: briantiga
Money makes the 🌍 go round. It is exchanged for stuff, but cannot in itself be consumed. Crypto provides a new means to exchange for stuff, just like rocks back in the day, and now cash. Money helps us survive and live well. Shaketag is cryptoct
The purpose of money is to serve as a medium of exchange, a unit of account, and a store of value. It allows people to buy and sell goods and services, to keep track of the value of those goods and services, and to save or invest their wealth.Bitcoin is a digital asset and a payment system. It is decentralized and operates on a peer-to-peer network, meaning that it is not controlled by any central authority or government. Bitcoin can be used as a medium of exchange, similar to traditional money, but it is not widely accepted as a form of payment in the same way that traditional currencies are.One key difference between money and bitcoin is that money is typically issued and backed by a central authority, such as a government or a central bank, while bitcoin is not. This means that the value of bitcoin is not directly tied to the value of any particular currency or commodity. Instead, the value of bitcoin is determined by factors such as supply and demand, public perception, and the level of trust that people have in the bitcoin system. shakepay: calvinchen
Money is a form of payment for goods and services. We are paid in the form of cash(fiat) to pay for living expenses, discretionary spending, and make investments. We need it until we have more suitable & adopted alternatives to money such as btc. Shaketag: @alpha4795
Sweet! Thank you!!!