Hive Is A Better Monetary System

And HIVE is based on a valuable decentralized social media. Therefore, I believe that the price of HIVE will go higher in the long-term.

It's very interesting!
I guess it is still years before we see the possibility for adoption wide enough that I can pay my bills with with Hive right?

I've got to keep onboarding locals. That is all I can do!

I agree that Hive is a better monetary system and it's one of the best ones that I have seen. So long as people have RCs, then you can do most things without any fees.

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Gracias por tu video, y aclarar dudas para muchos muchas gracias.👍

Summary:

The video discusses the parallels between the current monetary system and historical systems while emphasizing the recurring themes of corruption, human behavior, and economic cycles. The speaker, Task, talks about how political corruption has persisted throughout history, mentioning examples from the Roman Empire to modern-day governments. He delves into the concept of the business cycle, highlighting how human psychology influences economic peaks and troughs. The conversation shifts towards the evolution of money, discussing the historical use of Scrip as a form of legal tender during times of war or economic uncertainty. Task then pivots to cryptocurrencies, particularly focusing on Hive as a private monetary system. He praises Hive for its speed of transactions and settlement compared to traditional banking systems, emphasizing the importance of a robust monetary foundation for any financial system to thrive.

Detailed Article:

The video begins with Task delving into his recent studies on the monetary system, monetary history, banking, and finance. He reflects on the consistent presence of corruption in politics throughout history, pointing out the enduring nature of human behavior. Task draws attention to the cyclical nature of economic highs and lows, underscoring how the business cycle is closely tied to human psychology.

Moving on to the topic of money evolution, Task explores the historical challenges related to the minting of coins due to bullion shortages and introduces the concept of Scrip as a form of legal tender issued by both governments and private entities during times of crisis. He provides examples of military Scrip and private Scrip being used in various historical contexts, emphasizing the adaptability of monetary systems based on available resources and confidence in the system.

Task then transitions to discussing cryptocurrencies, focusing on Hive as a private monetary system. He praises Hive for its quick settlement times, contrasting it with the inefficiencies of traditional banking and even other cryptocurrencies like Bitcoin. Task highlights the importance of a robust and efficient monetary system as the foundation for any financial infrastructure, stressing that what is built on top of it will only be as good as the underlying system.

Furthermore, Task challenges the traditional notions of money being tied to precious metals by presenting historical examples of money being represented by various commodities like cattle, seashells, and beads. He emphasizes the role of confidence in government and the correlation to economic stability, pointing out that hyperinflation often stems from a collapse in confidence rather than excessive money printing.

In conclusion, Task reiterates his stance on the superiority of Hive as a monetary system, emphasizing the need for experimentation and constant improvement in the financial landscape. He advocates for the importance of an efficient communication and accounting system, asserting that these are critical components for the smooth operation of global financial transactions.

Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.