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 GazzBut
Refraction
Registered: 10/15/02
Posts: 4,773
Loc: London UK
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 Currency of the future 
#3335837 - 11/09/04 01:30 AM (19 years, 5 months ago) |
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What do you think will be the currency of the future?
Do you think we will keep to a fairly similar system of tokens representing worth or will we evolve past money into something else?
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Always Smi2le
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phi1618
old hand
Registered: 02/14/04
Posts: 4,102
Last seen: 13 years, 11 months
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Re: Currency of the future [Re: GazzBut]
#3335852 - 11/09/04 01:36 AM (19 years, 5 months ago) |
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I think we'll be using money for the forseeable future.
Two obvious scenarios that would eliminate money are: technilogical advancement eliminates scarcity, making money unnecessary, or war destroys the world and the remaining people return to a barter system. Neither one seems all that likely, though the second far outstrips the first.
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GazzBut
Refraction
Registered: 10/15/02
Posts: 4,773
Loc: London UK
Last seen: 3 months, 12 days
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Re: Currency of the future [Re: phi1618]
#3335861 - 11/09/04 01:39 AM (19 years, 5 months ago) |
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Quote:
I think we'll be using money for the forseeable future.
How long would you say that is?
Quote:
technilogical advancement eliminates scarcit
I think it already has. Greed and selfishness causes the scarcity we see in the modern world, not a lack of technology.
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Always Smi2le
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 Innvertigo
Vote Libertarian!!
Registered: 02/08/01
Posts: 16,296
Loc: Crackerville, Michigan U...
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Re: Currency of the future [Re: GazzBut]
#3336055 - 11/09/04 05:03 AM (19 years, 5 months ago) |
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we will have a paperless society. Everyone will have some sort of card sort of like my debit card but harder to hack
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America....FUCK YEAH!!!
Words of Wisdom: Individual Rights BEFORE Collective Rights
"The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants." -- Thomas Jefferson
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GazzBut
Refraction
Registered: 10/15/02
Posts: 4,773
Loc: London UK
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Re: Currency of the future [Re: Innvertigo]
#3336105 - 11/09/04 06:08 AM (19 years, 5 months ago) |
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So you think the need for us to have some form of currency electric or otherwise, will always remain with us? We wont work out a form of society where buying and selling and working for money will become obsolete?
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Always Smi2le
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Innvertigo
Vote Libertarian!!
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Loc: Crackerville, Michigan U...
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Re: Currency of the future [Re: GazzBut]
#3336172 - 11/09/04 06:45 AM (19 years, 5 months ago) |
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Quote:
So you think the need for us to have some form of currency electric or otherwise, will always remain with us?
I think there will always be a need for some sort of currancy, electronic or otherwise. Barter is too much of a hassle and differs per area of the world. In india a cow might go for much more then in the US....
Quote:
We wont work out a form of society where buying and selling and working for money will become obsolete?
one can never tell but if I were a betting man i'd say no. What could possibly replace it? There will always be some sort of exchange.
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America....FUCK YEAH!!!
Words of Wisdom: Individual Rights BEFORE Collective Rights
"The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants." -- Thomas Jefferson
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DNKYD
Turtle!
Registered: 09/23/04
Posts: 12,326
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Re: Currency of the future [Re: Innvertigo]
#3336498 - 11/09/04 09:04 AM (19 years, 5 months ago) |
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I would hope that the criminal "Federal" Reserve bank would be dissolved and instead we could have a constitutional monetary system. But that's just for the USA. I think paper and coin currnecy will still be used for another 100 years at least.
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Gijith
Daisy Chain Eater
Registered: 12/04/03
Posts: 2,400
Loc: New York
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Re: Currency of the future [Re: GazzBut]
#3336563 - 11/09/04 09:20 AM (19 years, 5 months ago) |
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Quote:
Innvertigo said:
we will have a paperless society. Everyone will have some sort of card sort of like my debit card but harder to hack
This seems about right.
And it raises a question for me. In the next hundred years, the virtual disappearance of physical money is most likely gonna happen. There are a few dozen people on this board that would like to see the US return to gold and silver and bartering. Wouldn't that put us in a weird position relative to the rest of the world? We routinely make transactions with other countires where hundreds of millions of dollars are exchanged. The rest of the world will be doing it via computer. Are we going to start sending boats out loaded with bullion? Actually... this would probably lead to all sorts of futuristic pirate scenarios, which seems pretty cool to me. Alright, maybe the libertarians are onto something.
As far as money being eliminated and everyone living in some Star Trek utopia (since money's the root of all evil  ), you can forget it. We've been worshipping money for thousands of years. We'll be doing it for at least a few thousand more
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what's with neocons and the word 'ilk'?
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DNKYD
Turtle!
Registered: 09/23/04
Posts: 12,326
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Re: Currency of the future [Re: Gijith]
#3336602 - 11/09/04 09:32 AM (19 years, 5 months ago) |
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Quote:
Gijith said:
Actually... this would probably lead to all sorts of futuristic pirate scenarios, which seems pretty cool to me. Alright, maybe the libertarians are onto something.
I always wanted to be a Pirate of the Atlantic. Every Friday night we would have monkey knife fights on my flagship, the SS Dank. Of course nobody's monkey could ever defeat mine, since I would be the captain.
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ricyjo
Registered: 07/22/02
Posts: 1,516
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Re: Currency of the future [Re: DNKYD]
#3336782 - 11/09/04 10:28 AM (19 years, 5 months ago) |
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subcutaneous electronic implants that can be encoded with many different types of information regarding who you are.
It would contain information like:
Identity -name, address, social security number, date of birth, etc..
Monetary -All your bank information for electronic purchases..
Medical -Allergies, Medications ...
Police -arrest history, driving records, gun ownership, etc..
and basically ANY type of information whatsoever.
How it would work:
Each piece of information would be encoded to a specific standardized frequency.
For example, when passing through a grocery store transponder, it would request your name and bank account by "pinging" you with two specific frequencies.
When your ready to check out, you simply walk out the store.. no standing in line or handling cards or cash. that's it.
They'll start doing shit like having speakers saying "Hello ______, welcome to fuxforbux, enjoy your shopping experience", ...and crap like that.
The implant would be placed on you in ANY location of your choosing.
This would eliminate thieves from chopping off your hand or arm or whatever to "steal" your money.
This is of course after cars are fitted with remotely controlled kill switches for police use. (to eliminate high speed chases)
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phi1618
old hand
Registered: 02/14/04
Posts: 4,102
Last seen: 13 years, 11 months
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Re: Currency of the future [Re: Gijith]
#3337585 - 11/09/04 02:18 PM (19 years, 5 months ago) |
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As I understand it, the libertarians just want commoditiy money rather than debt/fiat money.
The reason is that whoever issues fiat money has the power of life and death in a capitallist economy; they can print as much money as they want, if their willing to pay the inflationary price. This is what happened in the Revolutionary war, and what happened to European currencies during WWII. Want more guns? Print the money to buy them.
If the money is backed by a commodity like gold, there is a limit to the amount of money that can be printed. Also, any trustworthy party can print their own money, and have it compatable with other commodity currencies. It reduces the concentration of power in the hands of bankers and politicians.
Speaking of which, who decides how much money is printed anyway, and who gets the money that is so created?
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z@z.com
Libertarian
Registered: 10/13/02
Posts: 2,876
Loc: ATL
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Re: Currency of the future [Re: phi1618]
#3337619 - 11/09/04 02:27 PM (19 years, 5 months ago) |
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Quote:
phi1618 said:
Speaking of which, who decides how much money is printed anyway, and who gets the money that is so created?
I may be wrong here, but I think the fed decides to print the money and I think it is given out in government loans. Don't quote me on that though.
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"Of all tyrannies, a tyranny exercised for the good of its victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their own conscience." - C.S. Lewis
"I would rather be exposed to the inconveniencies attending too much liberty than to those attending too small a degree of it." - Thomas Jefferson
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phi1618
old hand
Registered: 02/14/04
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Last seen: 13 years, 11 months
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Re: Currency of the future [Re: z@z.com]
#3337737 - 11/09/04 02:51 PM (19 years, 5 months ago) |
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Quote:
I may be wrong here, but I think the fed decides to print the money and I think it is given out in government loans. Don't quote me on that though.
So, that's like small business and student loans?
Basically, the government gets the money that's issued, but only uses it for giving loans to qualified people? So, the fed issuing money is pretty much just like a smallish tax, that isn't determined by congress or any directly elected official.
I think the system's probably ok, if only for the reason that the amount of currency issued is very small in relation to the size of the economy. The fiat money we use isn't a very good store of value, as a commodity currency would be, but it is a very convenient medium of exchange. If you have money, you shouldn't keep it as cash or cash-equivalent assets anywey.
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z@z.com
Libertarian
Registered: 10/13/02
Posts: 2,876
Loc: ATL
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Re: Currency of the future [Re: phi1618]
#3337771 - 11/09/04 03:00 PM (19 years, 5 months ago) |
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I looked it up and it appears that the fed increases the money supply primarily buy buying US government bonds and decreases it primarily by selling bonds.
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"Of all tyrannies, a tyranny exercised for the good of its victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their own conscience." - C.S. Lewis
"I would rather be exposed to the inconveniencies attending too much liberty than to those attending too small a degree of it." - Thomas Jefferson
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DoctorJ
Registered: 06/30/03
Posts: 8,846
Loc: space
Last seen: 1 year, 5 months
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Re: Currency of the future [Re: GazzBut]
#3343164 - 11/10/04 06:19 PM (19 years, 5 months ago) |
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I predict the rise of electronic funds
I predict that all forms of untracable currency (ie-cash) will soon be illegal.
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Great_Satan
prophet of God
Registered: 09/05/04
Posts: 953
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Re: Currency of the future [Re: DoctorJ]
#3343301 - 11/10/04 06:52 PM (19 years, 5 months ago) |
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I would have thought the paranoid people would have said shekels, but I guess they wouldn't know what those are.
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Mushmonkey
shiftlesslayabout
Registered: 09/25/03
Posts: 10,867
Last seen: 5 months, 28 days
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Re: Currency of the future [Re: Great_Satan]
#3346327 - 11/11/04 11:31 AM (19 years, 5 months ago) |
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hot dogs..
20 hot dogs would equal roughly a nickel, depending on the strength of the yen, I'm not quite sure
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i finally got around to making a sig
revel in its glory and quake in fear at its might
grar.
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Innvertigo
Vote Libertarian!!
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Loc: Crackerville, Michigan U...
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Re: Currency of the future [Re: Mushmonkey]
#3346551 - 11/11/04 12:33 PM (19 years, 5 months ago) |
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20 dogs for a nickle? seeeeet.
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America....FUCK YEAH!!!
Words of Wisdom: Individual Rights BEFORE Collective Rights
"The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants." -- Thomas Jefferson
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