@john is on PowPing!

PowPing is a place where you can earn Bitcoin simply by socializing, for FREE.
Never tried Bitcoin? It's OK! Just come, socialize, and earn Bitcoin.
Check out john's activities

What is Money?

visit channel home
Total Economy: 0 USD
Original article on "What is Money?", a topic I find to be quite at the base of all things regarding "cryptocurrencies" or perhaps what is better referred to as "digital money". https://sym.re/DgeqAPd It's an article about a brief 30 year period where seashell beads known locally as "wampum" were the prevailing commodity of Colonial America. Both prior to, and afterwards, silver-based money was the standard. So it makes for a recent study into the value of money, and perhaps what gave wampum it's price and why that price didn't last. What changed? Did people just agree that wampum wasn't as good of a money as silver? Or did something change about the WORK required to produce wampum which lowered it's RELATIVE value vs silver and gold? Read and add your own conclusions and thoughts. What is Money? How does it derive it's price (per troy ounce, per bushel, per bead, per barrel)?