Money Is Not Real...

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▶️ Watch on 3Speak


...it just feels that way.

Money is something manmade. It is basically a social agreement.

In this video I discuss how we are entering an era where cryptocurrency is allowing many people to know what only the affluent knew before. And that is money is not real. Now we are understanding that with our "Magical Internet Money".


▶️ 3Speak



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It is argued that people tend to view their wealth and income in nominal monetary terms rather than actual. In other words, people are presumed to ignore inflation, believing that a dollar is worth the same as last year.

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I would argue people ignore what inflation provides them. They look at it as losing purchasing power which isnt the case.

A dollar goes a lot further for oil than it did 15 years ago. In fact that is true for most commodities. We also see a plethora of things that can be purchased that wasnt the case a few decades ago.

The inflation situation is the most misunderstood topic I can find.

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Money is something manmade. It is basically a social agreement.

And also a disagreement in many cases. For example, when a government of a country intentionally keep many of its citizens under the local minimum wage. I am in this situation. I live with multiple disabilities, and my pension-like income is approximately only $250 USD. Nowadays I also work as a packager in a four hours per day part time job, and my total income, which is approximately only $470 USD, still does not reach the local minimum wage, which is (or rather should be) approximately $550 USD.

And the government asks things like "would you raise the minimum wage?" in propaganda.

Huge shame on the Hungarian government.

Greetings from Hungary.

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Good to see other hungarians here. Do you know others? We should make a tribe.

Also, bojler eladó

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Van néhány aktív magyar. Például @schiba, @buzzgoblin, @gabbynhice, @katamori (kurátorként). Amúgy egyetértek. Valahogy össze kellene hozni a magyar közösséget. Amúgy régebben többen voltunk, csak többen ilyen-olyan okokból kiléptek. Legutóbb @kalemandra. Előtte @jomeszaros és @piaristmonk. Viszont valószínűleg vannak mások is aktívak, akiket nem ismerek. Például @stefanov98 is, akit ma láttam először. Pont itt szólt hozzá, szóval üdv.

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Köszi,
Kell valami ami miatt csatlakoznak és aktívak lesznek. Bár jó dolognak tartom hogy összehozzuk a csapatot, konkrét okot nem tudok felhozni miért kellene :D

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Közösségépítés, egymás segítése, stb. Egy jó közösséggel nagyon komoly dolgokat lehet elérni. Én például ismerek olyan spanyolt, aki konkrétan abból él, amit itt a Hive-on megkeres.

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En nem vagyok semmi jonak elrontoja :) Igaz majd 3k Hiveot leszedtem az accomrol, de azert maradt meg egy keves amit szivesen felhasznalok. Jo lenne egy tribe nekunk szerintem.

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Gondoltam már rá, még pár nap és lesz is annyi likvid HIVE-om, hogy itt az Ecency-n tudjak csinálni egy Team Hungary közösséget. Persze ha van rá igény. Amúgy ha jól láttam Splinterlansen is van egy magyar klán, szóval kéne legyen még itt pár ember a Hive-on csak nem blogolással foglalkoznak.

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A hive csodája. Te ezek szerint ecency-n írsz, viszont én leofinance-en olvasom. Egyébként jó ötlet a közösség ha tudsz ilyet csinálni.

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As I always say nothing has any "value" on it until point of sale/transaction. What one person is willing to do or give you in exchange for something else. That could be paper backed money FIAT or Crypto if people want it then it has real value.

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I would like to see crypto used more for day to day and business transactions but I guess your point of view is also valid. However I don't see how that will help the wealth distribution as the ones who tend to hold on to it are at least somewhat well-off. Of course I guess it's just the asset game in the stock market where people earn more the longer they hold on to it.

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Werent a bunch of non-well off people the original hodlers of Bitcoin?

So it seems that with each new innovation in this area, it isnt the well off involved to start.

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Yes that was in the beginning but how many of them do you think have sold out? I would think most of them have and there is only a minority of people who did not lose their keys or sell out.

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Well considering that the price was love for a lot of years, it means that there were lots who got in low.

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It might have been a lot of people who got it for low prices but we all know people get tired on sideway markets and they are also quick to take profits.

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(Edited)

Quite educative watch!
The concept of money is tied around value placed on an entity. This makes the definition of money quite volatile especially as we progress in a world highly dependent on technology and innovation.
Things might even likely change in the near future and take a turn on something new being used as the "concept of money".

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If the Federal Reserve hasnt been able to define money in 50 years since it lost control of the money supply, there is no reason to believe that we can define it clearly either.

Nevertheless, as we progress forward with economic innovation, we will see a vastly different world.

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Maaaan I wanted that video to end. It was great, but I could make a 12 part series responding to all the info you dropped there. Overwhelmed with topics I want to talk about. I'll drop some tiny bits and save most of it for future blogs/vlogs.

1 I thought of money as energy for a while until I realized it's not even that, it's just a vehicle for energy/trust, and hardly the only one.

2 I read a cool theory that the barter economy was likely just a myth. According to that theory, when most people were living in villages and earlier, bartering was just used with travelers. People who knew each other used an informal reputation economy that had slightly different rules depending on the culture. "All my chickens died and you won't give me any eggs? Well I'm going to tell the whole town what a dick you are". Downvoting ancient style.

3 The moment I realized that the desire to grow and expand forever is a natural and healthy part of life and our programing....was the moment I started appreciating your work. ;-) True story.

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