What if you had the power to reinvent money

[The Grand Nudger]

I was expecting some answer like "I will reassign the value of money to kindness so kind people will be rich and since they're kind they'll redistribute their wealth and take care of the more poor folks" but you guys are talking about bitcoin xD

That's not how money works, is the problem.  We don't really assign money it's value.  It stands in as a portable (and non perishable) unit of barter for other things which have value.  How many hugs would you accept as compensation for one years worth of productivity in a potato field?  Will having a pile of hugs solve the problem of poverty? Is that why people are poor....a hug deficit? If wealth were kindness, and the wealthy had piles of hugs to redistribute to the hug-poor, no amount of re-distributing them would make the poor meaningfully, rather than metaphorically, more wealthy.

[Gawdzilla Sama]

When you think about it..the little piece of paper we call money or the coins really doesn't have any intrinsic value. Whatever value it does have is because we pretend it has that value.

Let's say you get a chance to reinvent money. Instead of it being notes and coins you can give the value to something else.

In short, you get to take the value of money from currency notes and coins and assign this value to something else. What would it be?

Gee, maybe a precious metal, like gold? 

[ErGingerbreadMandude]

I would reinvent money as food so that when I run out of money to buy food I can just eat money.

😂
Richest man in your economy:

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😺😺😺

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Gee, maybe a precious metal, like gold? 

Would it kill you to be a little bit more poetic??? 🔫😕

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I was expecting some answer like "I will reassign the value of money to kindness so kind people will be rich and since they're kind they'll redistribute their wealth and take care of the more poor folks" but you guys are talking about bitcoin xD

That's not how money works, is the problem.  We don't really assign money it's value.  It stands in as a portable (and non perishable) unit of barter for other things which have value.  How many hugs would you accept as compensation for one years worth of productivity in a potato field?  Will having a pile of hugs solve the problem of poverty? Is that why people are poor....a hug deficit? If wealth were kindness, and the wealthy had piles of hugs to redistribute to the hug-poor, no amount of re-distributing them would make the poor meaningfully, rather than metaphorically, more wealthy.

...well khem! When you really think about it.. Money system exists because poor and rich exist... If everyone was rich noone would be.. So how can this be the greatest invention when it is what ensures the existence of the poor in our world
🌚

[The Grand Nudger]

If you think about it.... the "money system" exists because it's difficult to carry cattle in your pocket.  It's difficult, even if you could carry cattle in your pocket, to pay for everything with cattle. I'm not going to wire your dryer for a t-bone or for a bag of t-bones.  The "money system" isn't the reason for disparity, it just expresses any disparity in terms of currency. No matter what you decided to use as money, the underlying disparity would exist.

[Astreja]

I think it's an exercise in futility to reinvent money. I don't see any particular advantage to creating a new system that will probably end up as a variation on what we have now.

The problem, as I see it, is that people circumvent the {money = value} principle all the time by demanding cheap consumer goods and avoiding goods that are priced closer to their actual value in human labour. One way around this would be to have more consistency of remuneration worldwide, so that two people working equally hard at similar jobs in two different countries would be on a more equal footing. There's something disheartening about walking through a store and seeing $100 shoes made by someone working unreasonably long hours for crap wages.

[Edwardo Piet]

Hmm. Have you tried hoisting it?

Borammy

One hoists petards, not wheat.

Haborummy

What about yanking it? Although I may be confusing this activity with my own hobby.

Brihamsodyammy

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I would reinvent money as food so that when I run out of money to buy food I can just eat money.

*hic* dats genie yus *hic* dis men's gets it *hic*

[Aegon]

umm cryptocurrency...?

I love bitcoin and the like. But I feel like the more it grows, the less it will be able to achieve its original purpose. They already tried regulating it in NY to disastrous results