[friendociate]

I was on an email-list for Dennis Kucinich (back when he was running for President ... was that 2004?), and 'he' sent me a link to a video ... I don't know if it was 'the video below,' but I think it told the same story: miners would use their gold to buy products & services, but--rather than lug around tons-&-tons of the precious metal--they would take the metal to a banker, who would weigh it & give them a 'promissory note' for it (a promise that the bank would keep the gold safe until the miner gave back the note in order to withdraw some of the gold).

Naturally, the miners would often just skip 'going back and withdrawing the gold and giving it to the seller' and instead would just 'give them the sellers the promissory note so they could either go withdraw the gold themselves or just give the note to other sellers (who could withdraw the gold or use the note, etc.)

(added 10/28/2018 08:20) The video above explains that money is 'a third good'---something that all parties in a society agree is worth the same amount as another good or service the payer owns or provides but (for the sake of convenience, usually) cannot present to the payee for barter at that moment. The word 'Money' itself comes from the surname of a goddess; so you can imagine that the money is 'a sign of the goddess's approval of the trade.'

Is the money we "make" from ForumCoin 'worth of the goddess's approval'?

[kat82]

I was on an email-list for Dennis Kucinich (back when he was running for President ... was that 2004?), and 'he' sent me a link to a video ... I don't know if it was this video, but I think it told the same story: miners would use their gold to buy products & services, but--rather than lug around tons-&-tons of the precious metal--they would take the metal to a banker, who would weigh it & give them a 'promissory note' for it (a promise that the bank would keep the gold safe until the miner gave back the note in order to withdraw some of the gold).

Naturally, the miners would often just skip 'going back and withdrawing the gold and giving it to the seller' and instead would just 'give them the sellers the promissory note so they could either go withdraw the gold themselves or just give the note to other sellers (who could withdraw the gold or use the note, etc.)

(added 10/28/2018 08:20) The video above explains that money is 'a third good'---something that all parties in a society agree is worth the same amount as another good or service the payer owns or provides but (for the sake of convenience, usually) cannot present to the payee for barter at that moment. The word 'Money' itself comes from the surname of a goddess; so you can imagine that the money is 'a sign of the goddess's approval of the trade.'

Is the money we "make" from ForumCoin 'worth of the goddess's approval'?

Very interesting.... goddess approval for money we earn from forumcoin? I really doubt. Am sure I need to ask someone else about what exactly money is.. Thank you for bringing this to light.

[friendociate]

Am sure I need to ask someone else about what exactly money is.. Thank you for bringing this to light.

Maybe you should ask about 'how bank-managers (loan-officers) "write money into existence" by writing-out bank-loans.'

[diana0208]

for me, money is life cycle because without money everything is also without you, you cannot buy at your own want

[Abigael]

Money is not everything in life and we should not make it our priority but money does make our life better. There is a lot in life that we need money to get.

[Kei]

Goddess? OK!. Since logically, FC coins is only used here for exchange of services and out in the real world, you can't use it unless you convert it to the "money" you talk about, we can say it is also approved.

[friendociate]

for me, money is life cycle because without money everything is also without you, you cannot buy at your own want

Imagine if all the current 'currency' was declared "invalid" by the powers-that-be. Then--I think--you would see exactly 'what money is' (like the video above says it is): a random material that all parties in a barter-system agree is worth "something" (FC 'agrees' that this post (at the moment) is worth a gallon of gasoline in Venezuela (1 ForumCoin being worth $0.002).

[darkthorn]

If you want to understand what is money than you need to understand many other things in this Matrix which we call life. Unfortunately most of us are not prepare to understand the reality unless you are awaken, and even those who are goes trough a series of experiences and events that seem more like a sci-fi movie. My advice is for you to start watching this:

[friendociate]

My advice is for you to start watching this:

That video's not showing-up for me.

[suny]

for me, money is life cycle because without money everything is also without you, you cannot buy at your own want

Imagine if all the current 'currency' was declared "invalid" by the powers-that-be. Then--I think--you would see exactly 'what money is' (like the video above says it is): a random material that all parties in a barter-system agree is worth "something" (FC 'agrees' that this post (at the moment) is worth a gallon of gasoline in Venezuela (1 ForumCoin being worth $0.002).

Actually money (or if you meant currency) is just a name or way to exchange. In olden times when bartering was the only way for fulfilling your needs. I think that would make this world even more practical and help keep a control on unnecessary spending.

[A K Rao]

Actually Money is a promissory note from the Government of a particular country to pay the promised amount mentioned on the note to the bearer of the note in terms of market value. This note is issued by the government after having equivalent amount of Gold in the mint.
Not coming to the point what is money it is verifiable record that is accepted as payment for goods and services and also for repayment of debts. It is a power holding by an individual to get the things done in the form of acquring something, getting done some work or paying back some liability.

[friendociate]

... I guess one of 'the points I'm getting-to' is that there's a problem with the idea that "people work to make money," because (like the first video says) money is 'a third good' in the bartering-system ... You 'do something (that is a valuable service to one person, but relatively worthless to everyone else).' If I'm selling something you need, you can't 'do your job' for me (because a) your contract is with someone else & b) I don't need 'what you do' right now). But 'what you do' is worth an amount of the third-good, and so is 'what I'm selling'; so I can trade 'what I'm selling' for that amount of the third good, and can use the third good to go and purchase what I do need.

So--while you get the money in exchange for the work you do--'the work' isn't what "makes" 'the money!' (Yes, that's a bit 'Frankenstein isn't the monster, but he's the man who made the monster'-nerdy ; but specifics can be important sometimes )

And it comes up here, because people might think that this is some Quid pro Quo setup where you get more FC for more words; but that's not exactly the case! Even if I continued this response for screens-&-screens-&-screens, I wouldn't get much more than the amount this type of post gets!

[darkthorn]

My advice is for you to start watching this:

That video's not showing-up for me.

Sorry for the broken link, here it is:

[talkerbee]

Money is useless if haven't gold saved on the bank. The same with FC, FC has value because of the advertisers and/or investments from the owner. The higher the value of an investment, the higher value of a money. In trading, banker has a big rule.

[friendociate]

Does David mention 'how the banking-systems transformed from "promissory notes backed by valued material" to "bank-notes backed by trust"?

[Chameli]

They say fire is the greatest discovery of main kind and money is the greatest invention. We would not be here if we had no money.

[skysnap]

I'd say money is a form of medium which is making the bartering things easier on common scale.

[friendociate]

We would not be here if we had no money.

Do you mean 'here' as in "on this site"? "on the Internet at all"? (as you probably have to pay for your connection) or "still in existence as a species?"

I'd say money is a form of medium which is making the bartering things easier on common scale.

i.e. you'd say "exactly what the video says"?

[Abigael]

Money is a great resource in life. It is one thing that allows you to have what you want in life. However it does not buy us happiness and so we should not put all our concentration in them. We should remember to visit our friends and families.

[jackchun]

money is for exchanging resources like clothes, living house, eating food, traffic cars service etc