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What is money & what is debt?

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Films - WE THE ECONOMY. Bitcoin is Gamification. Pocket: Log In. Understanding "Gold Farming" and Real-Money Trading as the Intersection of Real and Virtual Economies. The PDF file you selected should load here if your Web browser has a PDF reader plug-in installed (for example, a recent version of Adobe Acrobat Reader).

Understanding "Gold Farming" and Real-Money Trading as the Intersection of Real and Virtual Economies

If you would like more information about how to print, save, and work with PDFs, Highwire Press provides a helpful Frequently Asked Questions about PDFs. Alternatively, you can download the PDF file directly to your computer, from where it can be opened using a PDF reader. To download the PDF, click the Download link above. Fullscreen Fullscreen Off This work is licensed under a Creative Commons Attribution 3.0 License. The full website for the Journal of Virtual Worlds Research can be found at: Money & Debt: Crash Course World History 202. The History of Money. Share Posted 10.26.96 NOVA What is money?

The History of Money

Why do we value gold? Mankind's attitude to gold is bizarre.

Why do we value gold?

Chemically, it is uninteresting - it barely reacts with any other element. Yet, of all the 118 elements in the periodic table, gold is the one we humans have always tended to choose to use as currency. Why? Are Bitcoins and Unusual Hats the Future of Currency? Why Everybody Who Doesn’t Hate Bitcoin Loves It: Full Transcript. This is a transcript of the Freakonomics Radio podcast “Why Everybody Who Doesn’t Hate Bitcoin Loves It.”

Why Everybody Who Doesn’t Hate Bitcoin Loves It: Full Transcript

[MUSIC: Greg Ruby Quartet, “Swing for Dudley” (from Look Both Ways)] Stephen J. DUBNER: Hey, podcast listeners. California Passes Bill to Legalize Complementary Currencies. Top image credit:

California Passes Bill to Legalize Complementary Currencies

Authored by Chris Tittle A community without dollars is not a community without wealth – this basic insight lies at the heart of the community resilience movement. With income and wealth inequality still on the rise in our “post-recession” economy, communities are finding creative ways to meet their needs and maintain social ties through community-created forms of exchange, or complementary currencies.

And, as with most social innovations, existing legal and regulatory systems take some time to catch up. With the recent passage of the California Alternative Currencies Act, AB 129, California has taken a significant step toward fostering more just and resilient local economies. Driven both by economic necessity and innovations in technology, communities across California and across the world are creating their own means of exchange that support economic resilience and social cohesion in the face of rapidly changing economies.

Bitcoin logic. To understand Bitcoin, one must first understand what its function is.

bitcoin logic

Bitcoin, technophilic headline-grabber of contemporary times, is a cryptocurrency. What this means is not that the transactions are encrypted, but the method by which the units of currency exist is guaranteed by cryptography. Bitcoins are just a series of numbers, and no one runs Bitcoin. The only reason that I own Bitcoin #101 rather than you is because the transaction log says that you gave it to me, and I haven’t given it to anyone else yet. Bitcoin Explained. Bitcoin is ludicrous, but it tells us something important about the nature of money. There was a great piece in the satirical news source The Onion a few years ago in which it “reported” that Fed chairman Ben Bernanke experienced a moment of existential panic during a congressional hearing as he paused, shook his head, and said, “It’s just an illusion . . .

Bitcoin is ludicrous, but it tells us something important about the nature of money

Just look at it: meaningless pieces of paper with numbers printed on them. Worthless.” Sayeth the Onion headline: “U.S. Economy Grinds to Halt As Nation Realizes Money Just A Symbolic, Mutually Shared Illusion.” It's all just an illusion, man. Which brings us to bitcoin. Bitcoin Fever: Using Digital Currency to Understand the Nature of Money. Overview | What are bitcoins, and why are people buying them?

Bitcoin Fever: Using Digital Currency to Understand the Nature of Money

What makes currency valuable? In this lesson, students explore the fundamental characteristics of currency by reading and researching about the bitcoin, the experimental and upstart digital commodity that has grabbed the attention of speculators, investors, bankers and regulators around the world. Materials | Computers with Internet access.

Bitcoins and Tax Liability. Bitcoins are all the rage lately.

Bitcoins and Tax Liability

Proponents claim the online currency is safer than old fashioned "fiat money" issued by national central banks. Some people appear to agree and have been rapidly buying them up, leading to a speculative frenzy. Bitcoins that were valued at $5 a year were selling for as much as $260 in early 2013 before they fell back down below $100. Some speculators have been making real money off Bitcoins. Are the profits they earn subject to federal (and state) income tax? The Myth of Virtual Currency. Bondsy and the Modern Myth of Barter. In the first chapters of every Economics 101 textbook there’s a misleading hypothetical about the origins of money.

Bondsy and the Modern Myth of Barter

David Graeber, in his book Debt: The First 5,000 Years calls it “the founding myth of our system of economic relations.” This myth is so pervasive that even people who have never taken an Economics 101 class know, and believe in, this myth. We tend to assume that before money there was this awkward barter system where you had to keep all your chickens and yams with you when you went to market to buy a calf. A Living Wealth Money System. Agenda: Root the power to create and allocate official money in democratically governed communities.

The New Economy Money Story University economics courses teach that money is a medium of exchange, which is correct, and a storehouse of value, which may work for an individual but is a fiction for society. A society can store wealth only in real physical, social, and natural capital. Emperors, clothes, money. BBC Radio 4′s documentary series Analysis has a fascinating programme that explores the little-asked question ‘What is Money?’ The Ascent of Money. Jem Bendell - The Money Myth. The History of Debt. Money is Not Wealth. This is a guest post by Greg Linster, a graduate student studying economics at the University of Denver. Benjamin Wallace on the price of happiness.