#MediumOfExchange

[unpluggedfinancial]

The Services of Money: A Comparative Analysis of Bitcoin, Gold, and USD

Introduction

Money, in its various forms, plays a fundamental role in our daily lives, serving as a medium of exchange, a store of value, and a unit of account. Over the centuries, different forms of money have emerged, each offering unique advantages and drawbacks. In this blog post, we will explore the essential services that money provides: portability, durability, recognizability, scarcity, and divisibility. We will then compare these services across three prominent forms of money: Bitcoin (BTC), gold, and the US Dollar (USD).

The Essential Services of Money

Portability refers to how easily money can be transported and transferred from one place to another. It's crucial for facilitating trade and commerce in a globalized world. Imagine needing to carry a significant amount of gold for a transaction—it's cumbersome and impractical. This is where the ease of transporting digital currencies like Bitcoin or even digital USD can be a game changer.

Durability is the ability of money to withstand wear and tear over time. Durable money maintains its physical form and value, ensuring it can be used repeatedly without deteriorating. Gold is incredibly durable, maintaining its luster and form over centuries. In contrast, physical USD notes can wear out, but digital USD remains intact and Bitcoin, being purely digital, doesn’t degrade at all.

Recognizability means that money is easily identifiable and accepted by people. This ensures that money can be trusted and used for transactions without extensive verification. Gold’s historical status gives it unparalleled recognizability, while the USD’s global use ensures it is accepted almost anywhere. Bitcoin, though newer, is rapidly gaining recognition as more people and institutions accept it.

Scarcity refers to the limited availability of money, which helps maintain its value. Money that is too abundant loses its value, while scarce money retains or increases in value over time. Gold’s natural scarcity has preserved its value for millennia. Bitcoin’s fixed supply cap of 21 million coins ensures its scarcity, driving its value. The USD, however, can be printed in large quantities, which can lead to inflation and a decrease in its value.

Divisibility is the ability to divide money into smaller units to facilitate transactions of varying sizes. This allows for precise pricing and exchange, catering to different economic needs. The USD is easily divisible into cents, making it convenient for all transaction sizes. Bitcoin is highly divisible down to eight decimal places (satoshis), and can be further divided through soft forks if necessary. Gold, on the other hand, is not easily divisible for practical everyday use.

Comparative Analysis

Bitcoin excels in portability, being entirely digital and capable of being transferred globally within minutes without the need for physical transportation. Its durability is unmatched as a digital asset that does not degrade over time, existing on the blockchain to ensure its longevity and integrity. The recognizability of Bitcoin has grown significantly, with increasing acceptance by merchants, investors, and institutions worldwide. Its scarcity is a defining feature, with a fixed supply cap of 21 million coins, making it highly valuable. Bitcoin is also highly divisible, down to eight decimal places, and can be soft forked to allow for infinite divisibility, ensuring it can meet any future transactional needs.

Gold, while less portable due to its weight and bulk, remains incredibly durable, resistant to corrosion and tarnish, ensuring it retains its physical form over centuries. Its historical and universal recognition as a store of value is unparalleled, trusted and accepted globally. The natural scarcity of gold, with limited new discoveries and mining, helps maintain its value over time. However, dividing gold into smaller, practical units for everyday transactions is challenging, limiting its use as a daily medium of exchange.

The USD is relatively portable, with physical cash being easy to carry, and digital transactions facilitating global transfers. While physical USD notes and coins are durable to an extent, they do wear out and need replacement; digital USD, however, is virtually indestructible. As the world’s primary reserve currency, the USD is widely recognized and accepted for international transactions. The Federal Reserve controls the supply of USD, and while it is abundant, inflation can erode its scarcity and value. The USD is highly divisible into smaller denominations, making it convenient for transactions of all sizes.

Conclusion

Each form of money—Bitcoin, gold, and USD—excels in different areas of the essential services money provides. Bitcoin stands out for its portability, divisibility (with the potential for infinite divisibility through soft forks), and fixed scarcity, making it a strong contender in the digital age. Gold remains unparalleled in durability and historical recognizability but faces challenges in portability and divisibility. The USD, while highly portable and divisible, grapples with issues of inflation that impact its scarcity and long-term value.

As we look to the future of money, understanding these characteristics helps us appreciate the unique strengths and weaknesses of each form. Whether one will ultimately prevail over the others remains to be seen, but the evolution of money will undoubtedly continue to shape our economic landscape.

[achwaqkhalid]

#Dogecoin might be my fav #Cryptocurrency. It’s pretty cool. - Elon Musk 🌐 🐕 🗺 #CryptoCurrencies #Blockchain #Bitcoin #DigitalCurrency #Borderless #QR #Code #ShibaInu #Doge #Dog #Meme #InternetMeme #Tipping #Exchange #Wallet #DigitalAsset #MediumOfExchange #Cryptographic #Key #Decentralized #DistributedLedger #Satoshi #Nakamoto #Money #PublicKey #PublicAddress #Business #Finance (at Casablanca, Morocco) https://www.instagram.com/p/B1C9_kegJEA/?igshid=qllzgf3npiwk

[coinweez-blog]

#bitcoinstandard #currency of the internet. #consensus #proofofwork #PoW #mining #trustcode #newage #storeofvalue #mediumofexchange #btc #bch #internetmoney #limitless #boarderless #decentralized (at Decentralized) https://www.instagram.com/p/BnF2IgwgQYi/?utm_source=ig_tumblr_share&igshid=114mzpz71y907

[news99alert]

Top Medium-of-Exchange Crypto for 2022: Bitcoin, Dash,

Top Medium-of-Exchange Crypto for 2022: Bitcoin, Dash,

Industry experts believe that 2022 is likely to witness a rapid maturing rate of the global crypto sector. Many countries are actually trying to find ways to regulate the crypto space, without completely banning the activities associated with it. As the crypto space prepares for more expansion, let’s take an in-depth look at the elements of this sector. In previous editions, we have covered the…

[velxenon]

#personalty #law #movable #property #conversion #subscription #investment #presidentsclub #mediumofexchange #unitofaccount #investmentclub #unittrust #storeofvalue #legalinsurance #club #association #exlibris #prose #prosocio #prosolido 🤝 (at President Street) https://www.instagram.com/p/CTkN-L1LP-f/?utm_medium=tumblr

[mrpeaceandliberty]

Search Google for "ANN AMRO FORECLOSURE" , and you will find documents and videos where #mikemontagne reads the letter which sent the bank in late 2013, which forced the bank to walk on $10 Million of debt because they cannot answer the question of consideration and an equally important question of knowledgeable public assent. Although there have been many cases with similar outcomes across the globe since 1976, this one is exemplary. . . "Specifically, we desire to know without confusion evasion or equivocation, how it is that banking contends it creates money as purported debts to a purported banking system which may or may not even give up commensurable consideration in the process. . . This after all, is something we would expect you already know from such plentiful and faithful documentation as legitimate enterprise would already have provided." . . ~ Mike Montagne . . #banksmoredangerous #contractlaw #fraudsters #commonsense #economicjustice #norisk #banksters #misdirection #sleightofhand #mediumofexchange #tokensofwealth #youcreate #strangertothecontract #consideration #irrefutablepursuit #trueprinciples #pfmpe #wecreatewealth #leviticuschapter19 #contractualfraud #publicassent #confederation #moneycreation #contractualenforceability #lawfulconsideration https://www.instagram.com/p/Byctcr-AwLa/?igshid=m6maandbk56t

[lovezacblr]

Had he been legit in his claims he could’ve just created a federated sidechain.  In fact, all of the 17,000+ shit coins could’ve done exactly that, instead of monetizing their own token for get rich quick schemes (Dogecoin, Shiba, BNB, Mana, XRP, Solana, Cardano ect)

By doing such they’ve created a digital casino of speculative assets (like trading beanie babies in hopes of a profit), run and maintained by junior companies so unscrupulous. They cant even manage to go public - despite having market caps of $35 billion+

#Ethereum #DigitalGiftCard #LateStageSocialism #CrackUpBoom #CreditBubble #MassScams #Theft #Misinformation #DistortedPriceSignals #SocietyBuiltOnLies #MoneyHasThatPower #ItsASocialContract #SimilarToConstructs #LikeRace&Nationality #StoreOfValue #MediumOfExchange #UnitOfAccount #CorruptTheMoney #CorreuptTheWorld #WhyWouldTheyTeachThis #Peru #Lebanon #SocietyRevolt #AgainstMarxist #StealingThePriceOfTime #LowInterestRates #GotYouWorkingTilDeath #NoRetirement #SocialSecurityRunOut 🔥🏛💵💵💵💵💵💵💵

[mrpeaceandliberty]

Whatever #wefear about taking on the banks, we should fear the inevitable consequences of *not* taking on the banks. But it can only be done with irrefutable, legally omnipotent arguments that prove in #nouncertainterms that we do NOT #borrowmoney from banks. With cases across the globe going back to 1976, not a single bank has dare challenge the #irrefutableproof that, never in the entire history of the contemporary it known as "banking", it is impossible that the banking system #lendsmoney into #existence without giving up #lawfulconsideration in the process. Banks walk on as much as $10 Million debts, rather than face is in a just court of law. Only #wethepeople #createmoney when we sign out promises to pay each other. Likewise, we are the only true creditors, because we give up property in exchange for those promises to pay. #whatismoney Do banks build houses? So banks develop and market software? Do banks drive buses? Do banks actually produce anything at all? Absolutely not! The substance of money comes from the value we give up for it. Therefore, since banking bears no more than the cost of publishing our promises to pay each other, they NEVER have the principal at risk; they are strangers to the contract, which is all that money is. If money is to be comprised of fully redeemable, immutable representations of entitlement, or what people commonly refer to as a #mediumofexchange then it must be issued free of extrinsic exploitation. The value of money and property must be protected from manipulation at all times. The only way to do that is by maintaining a volume of circulation that, at all times is equal to the value of the property of represents. There is only one way to accomplish this (a two-step prescription): 1) Eradicate interest 2) Pay principal *only* at the rate of consumption/depreciation of the related property Anything else is unjust and guarantees terminal monetary failure. (at West Flagler) https://www.instagram.com/p/BwpHY6WnKjv/?utm_source=ig_tumblr_share&igshid=12bahc6hb3vk4

[mrpeaceandliberty]

View this post on Instagram

A post shared by Chuck Muldoon (@mrpeaceandliberty)

Search Google for "ABN AMRO FORECLOSURE" , and you will find documents and videos where #mikemontagne reads the letter he sent the bank in late 2013, which forced the bank to walk on $10 Million of debt because they cannot answer the question of consideration and an equally important question of knowledgeable public assent. Although there have been many cases with similar outcomes across the globe since 1976, this one is exemplary. . . "Specifically, we desire to know without confusion evasion or equivocation, how it is that banking contends it creates money as purported debts to a purported banking system which may or may not even give up commensurable consideration in the process. . . This after all, is something we would expect you already know from such plentiful and faithful documentation as legitimate enterprise would already have provided." . . . ~ Mike Montagne . For full context, #directmessage me for the video where he explains and reads the whole letter. . . Listen to Mike Montagne every Saturday at 3pm EST at peopleforpeople.ning.com #foreclosuredefense #abnamro #thesystemisbroken #netherlands #finca #spain #interestonlyloan #banksmoredangerous #contractlaw #economicjustice #mediumofexchange #pfmpe #wecreatewealth #leviticus1913 #legitimateenterprise #contractualfraud #moneycreation #contractualenforceability #lawfulconsideration #2020presidentialcandidates #goodshabbos #shabbatshalom @mrpeaceandliberty @berniesanders @joebiden @speakerpelosi @betoorourke @kamalaharris @@saragideonme @elizabethwarren @dccc @repanniekuster @economicpolicy @whitehouse @the_federal_reserve @europeancentralbank @worldbank @abnamronl (at West Little Havana, Miami) https://www.instagram.com/p/B3zlRDkgSti/?igshid=6mlcy7x0lm9w

[mrpeaceandliberty]

View this post on Instagram

A post shared by Chuck Muldoon (@mrpeaceandliberty)

The bank is, has always been and will forever be a stranger to the contract. -Mr. Peace & Liberty #banksmoredangerousthanstandingarmies #contractlaw #fraudsters #commonsense #economicjustice #norisk #banksters #misdirection #sleightofhand #mediumofexchange #tokensofwealth #youcreate #strangertothecontract #consideration #irrefutablepursuit #trueprinciples #pfmpe #wecreatewealth https://www.instagram.com/p/BxSiNIcnZEJ/?utm_source=ig_tumblr_share&igshid=1v8vnmeeteg8z