Store of wealth is actually a "bad" function for money. That's what "wealth" is for.
Money is for transacting, a unit of account, a medium of exchange. Something easy, and usually fundamentally valueless. Contracts and debts require an inflating base for the debtors to use, and it's better for the savers to simply save in a different unit than the "common" money.
Wow. So unless you run out and spend every dollar you earn - you are doing something harmful? No.
Choosing to Not spend your money is an individual's choice, and, saving instead of spending part of your income sends a message to the market about the condition of the real pool of savings/wealth available.
The reason gold or bitcoin has value is because people believe it does. It's about trust. We could just as well use shells or beads or giant rocks. As long as enough people believe something will function as a means of exchange to receive what they want from others who believe the same, it can function as money. Fiat money meets that definition, so does Steem itself.
No, money is commodity. Very real. Paper money acts as proof of ownership of actual goods. Until the Federal reserve came along now it's just paper.
Hey if money is not real, why do you want money UBI payments? Unless you want to increase your 'measurements' without working for it.
Money is a tool of measurement. Are inches real? Do they become real when we put them on a ruler made of gold instead of paper?
Much more than that. It is a store of value. Or at least in the case of gold/silver it has been for a long, long time. Not so much for fiat.
Store of wealth is actually a "bad" function for money. That's what "wealth" is for.
Money is for transacting, a unit of account, a medium of exchange. Something easy, and usually fundamentally valueless. Contracts and debts require an inflating base for the debtors to use, and it's better for the savers to simply save in a different unit than the "common" money.
Wow. So unless you run out and spend every dollar you earn - you are doing something harmful? No.
Choosing to Not spend your money is an individual's choice, and, saving instead of spending part of your income sends a message to the market about the condition of the real pool of savings/wealth available.
The reason gold or bitcoin has value is because people believe it does. It's about trust. We could just as well use shells or beads or giant rocks. As long as enough people believe something will function as a means of exchange to receive what they want from others who believe the same, it can function as money. Fiat money meets that definition, so does Steem itself.
Thanks for standing up to this guy, he is all about wealth redistribution, but with a really hip name like UBI
No, money is commodity. Very real. Paper money acts as proof of ownership of actual goods. Until the Federal reserve came along now it's just paper.
Hey if money is not real, why do you want money UBI payments? Unless you want to increase your 'measurements' without working for it.
No money a medium of exchange because it is a first commodity. And you can't consume it before it is first produced.