One currency to end all currencies - Blockchain based / never devalues

[nakedfrog]

Question is why? Who is doing the valuation? Surely not the everyday people. It's the ones who amass wealth, purchase real estate/businesses etc. and magnify the values of these assets so the next sucker pays more for them and so on and so forth. This artificially magnified valuation of assets leads to devaluation of currencies.

What if one goldeck becomes synonymous with the price of a certain Mcdonalds burger and even 1000 years later, one goldeck still buys you that burger. Why should that not be within the realm of possibility? We make our own reality. We can make our own rules. We can make life easier for all of us.

Suppose suddenly we have a much easier way to produce those burgers, or some disease comes along and wipes out half the cows and requires a much more intensive effort to keep the rest safe/alive to produce burgers? Said burgers should still cost one SpaceBuck?

 

[Lost_in_the_HTTP]

Gold-pressed latinum bars or bust.

Feldergarb.

 

[igor_kavinski]

Suppose suddenly we have a much easier way to produce those burgers, or some disease comes along and wipes out half the cows and requires a much more intensive effort to keep the rest safe/alive to produce burgers? Said burgers should still cost one SpaceBuck?

If the situation is that dire, we will have more to worry about than the cost of burgers.

 

[Lost_in_the_HTTP]

Said burgers should still cost one SpaceBuck?

How's that now?

 

[nakedfrog]

If the situation is that dire, we will have more to worry about than the cost of burgers.

That was two situations and you've ignored one of them. Well, both of them, really, people will still want burgers, I assure you, regardless of how dire the situation is. It's definitely easier to hand-wave away than think about the actual ramifications of your proposal.

 

[nakedfrog]

How's that now?

SpaceBucks, not Starbuck, can't you read, kid?

 

[skyking]

The Schwartz is weak with that one.

 

[dullard]

Question is why? Who is doing the valuation? Surely not the everyday people. It's the ones who amass wealth, purchase real estate/businesses etc. and magnify the values of these assets so the next sucker pays more for them and so on and so forth. This artificially magnified valuation of assets leads to devaluation of currencies.

What if one goldeck becomes synonymous with the price of a certain Mcdonalds burger and even 1000 years later, one goldeck still buys you that burger. Why should that not be within the realm of possibility? We make our own reality. We can make our own rules. We can make life easier for all of us.

Who is doing the evaluation? It is exactly the everyday people. If an item is too pricey, the everyday people can choose to not buy it and the price will drop. Or, if they keep buying it, the price will rise. There is no mysterious all powerful entity doing the pricing as it is. It is us, all of us, that are currently choosing the pricing. At the very best, the all powerful federal reserve bankers can make a minute nudge to the pricing. See the graph below to see how little power the fed actually has with their most effective tool (interest rates):




Think about it this way. Suppose a person could make at most 10 burgers per day. Suppose that person sold each burger at 1 goldeck. That person earns a wage of 10 goldeck/day. Suppose now after years of doing this hard work, that person wants a raise or a promotion. How does that person ever get ahead? Either the price for that burger goes up, or that person is stuck forever as there would be no more than 10 goldeck per day to pay them.

That person could magically exceed the physical limit of 10 burgers per day, but now there is extra supply, the price of the burger drops accordingly, and you broke your rule of fixed prices. Or that person could slack off, make less than 10 burgers and there is a shortage and the price of burgers goes up -- again breaking your rule of fixed prices. But importantly since slacking off produces fewer burgers and the price per burger goes up, suddenly that person makes more money per burger by doing less work! The end game is for every person in the world to do less work in order to earn more per amount of work done. I hope you can see that the economy will crash if everyone has (A) no possibility for a raise and (B) an incentive to make more per hour by slacking off.

No possibility for raises/promotions means no reason to work hard. Inflation is necessary for incentives. Otherwise we end up with a downward spiral that destroys the economy. We absolutely need inflation for capitalism to function.

 

[igor_kavinski]

Instead of inflation, we can just be good citizens. Why would you want a raise if you are happy? Why do people want burgers if there is other stuff to eat? If currency stays constant value, everything becomes predictable. More predictability means less fear of uncertainty. Why do we want more money? Because the future is uncertain under the current inflationary economic system and money may help to some extent when things get tight. Remove inflation and you remove the want for gobs of money. Replace need for validation from amount of wealth with the need to feel good by being a good Samaritan.

We currently compete with each other for resources. Why not collaborate and share the resources? But to do that, inflation has to go. As long as we have this concept in our heads that we can raise the price of something, that we can make our burger look superior to someone else's burger and thus charge more, creating an imbalance, things will continue to suck. Why can't all burgers cost the same? If a certain burger doesn't sell, that company will strive to improve the burger or quit.

There is no need to use money as a measure of success. More money just means that now you need to think of more ways on how to spend it. In a happy, balanced economy, people with excess would just donate the money away to those who really have the need for it. Money would just become a means of doing transactions to fulfill needs. It wouldn't be a shortcut to being lazy or slacking off. Most people are not lazy. If our life has a purpose, we get up every morning for it. If not, it shouldn't mean the end of our life. It just means that we are still unsure and searching. Right now, we are forced to work jobs we hate to pay bills that have gotten abnormally high due to inflation. Without inflation and with a constant value economic system, we would be a more happy, satisfied, less competitive, more collaborative and less fearful society.

^^^^I know the above isn't very coherent. But somewhere in there is the secret to a happy life. Inflation and capitalism is not it, unless you are OK with being happy at the expense of others.

 

[Lost_in_the_HTTP]

"Why would you want a raise if you are happy?"

Funny that. There have been a few times in life where I was making a wage that paid all of my bills, let me play a little and still have enough to save quite a bit. Then a raise would come along, usually Annual COLA, or some ofther flat across the board thing. I'd look at the new checks and say ... ' what am I going to do with that? I don't need it ... guess the savings account gets another bump. '

 

[igor_kavinski]

There have been a few times in life where I was making a wage that paid all of my bills, let me play a little and still have enough to save quite a bit.

That's the weird thing in my life too. When my salary was half what it is now, I played more games, slept less, was less exhausted, had more fun. Now it just seems like I have more money to deal with more problems. I still don't understand how time has compressed for me. I used to watch movies and play games. Now I only watch a movie and it's time for bed. One reason could be that before I would grab something junky to eat to save time. Now I have to care about eating right to prevent further health issues.

 

[nakedfrog]

Instead of inflation, we can just be good citizens. Why would you want a raise if you are happy? Why do people want burgers if there is other stuff to eat? If currency stays constant value, everything becomes predictable. More predictability means less fear of uncertainty. Why do we want more money? Because the future is uncertain under the current inflationary economic system and money may help to some extent when things get tight. Remove inflation and you remove the want for gobs of money. Replace need for validation from amount of wealth with the need to feel good by being a good Samaritan.

We currently compete with each other for resources. Why not collaborate and share the resources? But to do that, inflation has to go. As long as we have this concept in our heads that we can raise the price of something, that we can make our burger look superior to someone else's burger and thus charge more, creating an imbalance, things will continue to suck. Why can't all burgers cost the same? If a certain burger doesn't sell, that company will strive to improve the burger or quit.

There is no need to use money as a measure of success. More money just means that now you need to think of more ways on how to spend it. In a happy, balanced economy, people with excess would just donate the money away to those who really have the need for it. Money would just become a means of doing transactions to fulfill needs. It wouldn't be a shortcut to being lazy or slacking off. Most people are not lazy. If our life has a purpose, we get up every morning for it. If not, it shouldn't mean the end of our life. It just means that we are still unsure and searching. Right now, we are forced to work jobs we hate to pay bills that have gotten abnormally high due to inflation. Without inflation and with a constant value economic system, we would be a more happy, satisfied, less competitive, more collaborative and less fearful society.

^^^^I know the above isn't very coherent. But somewhere in there is the secret to a happy life. Inflation and capitalism is not it, unless you are OK with being happy at the expense of others.

Congratulations, you've just invented communism! Let me know how that works out for you.

 

[snoopy7548]

That's the weird thing in my life too. When my salary was half what it is now, I played more games, slept less, was less exhausted, had more fun. Now it just seems like I have more money to deal with more problems. I still don't understand how time has compressed for me. I used to watch movies and play games. Now I only watch a movie and it's time for bed. One reason could be that before I would grab something junky to eat to save time. Now I have to care about eating right to prevent further health issues.

As Biggie used to say...

 

[Red Squirrel]

this seems like it will lead to deflation if population increases faster than gold/golda supply

if i put my golda under my mattress, will it be worth more 10 years from now?

if so there is a risk of a deflation depression like the 1870s-1890s

(also "cybergold" sounds cooler than "golda")

Wouldn't that be a good thing? It would mean your money can buy more and your standard of living could increase without needing to work more. Inflation has been a problem for decades, it needs to go the other way.

 

[FelixDeCat]

Cigarettes and packages of ramen noodles have been used to pay debts for decades in prisons.

I believe this is referred to as a "barter" system.

 

[FelixDeCat]

That's the weird thing in my life too. When my salary was half what it is now, I played more games, slept less, was less exhausted, had more fun. Now it just seems like I have more money to deal with more problems. I still don't understand how time has compressed for me. I used to watch movies and play games. Now I only watch a movie and it's time for bed. One reason could be that before I would grab something junky to eat to save time. Now I have to care about eating right to prevent further health issues.

My health too has been in decline and Ive had to make lots of unwanted changes to try to adapt.

 

[igor_kavinski]

Congratulations, you've just invented communism! Let me know how that works out for you.

Communism is forced by the government. My proposal is voluntary cooperation.

 

[igor_kavinski]

My health too has been in decline and Ive had to make lots of unwanted changes to try to adapt.

I know how that feels

Somewhat good news is I've been having two eggs and a glass of watermelon juice for breakfast. For around 7 hours after that, I kinda feel like I've the energy of a bull

 

[Lost_in_the_HTTP]

But of course comrade. All cooperation is voluntary. We insist on your voluntary cooperation.

 

[igor_kavinski]

Crytpo is co-existing with the current financial system. Hopefully, Golda can too and if it delivers on its promises, it should lead to widespread adoption.

 

[JM Aggie08]