@failspyactive 3 years, 5 months ago
Javair wrote a new post, Quantum Mechanics, Entanglement, Teleportation, and plentiful confusion., on the site Javair's Musings 6 years, 10 months ago
So this happened recently:
What that title means is we were able to transfer data, the state one of the photons were […]
I’ve had 2.2 business weeks to think of my first post, and at first I thought it was going to be a simple list of things I did, and learned. I now know, it’s going to be a lot more then that. There’s way to much to mention in this blog post, so I decided to just do the most interestings of this week, or this blog post would go up to 2,500+ word count and ain’t no body got time to write that or read it.
The most interesting things of my week was definitely the Philosophy of Economics, and the 2-person field trip to the MET.
Starting with the MET,
Abby was planning to go on a field trip on Thursday to the MET with all her “Adventure Buddies”. (Ask her for the details of who those people are, as I cannot recall the people she listed)
They were all absent, along with most of her spawn point.
During Scrum, she had realized this, and had asked if anyone was interested, no response. Due to there only being one other person from her spawn, she had joined our spawn point for the day so she had more people to share and hear the intentions of/with others. She was given the ability to share first, and had said she’s not sure what she’s going to do since no one wished to go on the field trip with her. I decided that I could at least talk to her about it, and am I glad I did. I had made it my intention to talk to her after spawn to talk to her and see if it’s worth it to go. She had convinced me to go whilst threading a skull pattern on to a backpack.
When we arrived, my brain went into brainstorm mode. 9 recorded ideas had popped into my head and who knows how many ideas I forgot while on the train to the MET, walking through it, and leaving it. Abby had thankfully told me to write all my ideas down, due to the fact that neither of us would’ve been able to remember everything I had come up with. You’ll hear about 8 of the other ideas in future blog posts hopefully, but that one that you’ll know about after reading this is the Philosophy of Economics.
Philosophy of Economics:
This idea actually helped become more organized with the help of Ryan, who I had scheduled Writing with on the day of going on a field trip.
I had told him I wanted to merge the Philosophy I wanted to do the next day with the Writing today, I had showed him the video Humans Need Not Apply. Which I should probably mention at this point the original philosophy idea was just about that idea. He was documenting all the points the video was mentioning, and by the end of it he was writing the assumptions of the video, and ended up writing something about currency and money (you’ll find out I’m not very good at recollection if you continue to read my blog as I blog more), and had pointed out the fact that currency and money is different, this conversation slowly evolved into an economic topic about what makes “value”, and what can be defined as money vs currency.
This is where the title comes in, the United States Dollar(USD) is NOT money. It is a fiat currency, but can be referred to as just currency. Fiat, meaning an authoritative determination(Definition from Merriam-Webster). After all, the dollar is just paper with some special stuff to make sure it can’t be easily counterfeited that represents a specfic “value”.
Money has a store of value. We’ll use gold for an example simply because that is the most commonly referred to commodity when it comes to money, by the accurate definition. Gold cannot be printed, the USD can, and is being printed all the time. Back around the 1930s, the dollar bill used to be backed 100% by Gold in the Federal Reserve, our government decided “Meh, let’s screw over all our citizens and have them lose their purchasing power”. But back to 1930s, you used to be able to take a 20 dollar bill to the bank and make a withdrawal of whatever gold was represented to that dollar. Today, good freaking luck to trying that, because the tellers there will give you some weird stares and probably will be completely unaware to the fact that it was a thing you could do at one point.
Gold has a constant value. You cannot change it unless we were to find a large patch of gold. This is due to the fact it is limited in accessible quantity. To change it, we’d need to increase the known value of gold, or decrease it by either mining or jettisoning it into the farthest reaches into space.
So, with this logic, you can get the correct amount of gold to buy a loaf of bread in your country, you can then take it anywhere around the world, and as long as the person isn’t overcharging you, you’d be able to spend that gold on that loaf of bread.
There’s lots more things that define money, but that is the difference between Money vs Currency.
It’s this that makes me believe BitCoin is soon to be a valid investment. BitCoin(along with LiteCoin, DogeCoin, etc.) is getting more and more stable by the day. This is due to the “mining” process that is involved in gaining BitCoin. They named it BitCoin Mining for a reason, and that’s because they wanted a store of value for it. All BitCoin mining does is take the unused resources of your CPU or Graphics Card(most preferably) and has it do lots of mathematical operations and I imagine other stuff as well. The more people have mined, the harder it becomes to find BitCoin blocks, or a better name for it is BitCoin veins. Similarly to ore veins. There’s a whole technical level to bitcoin mining, but that’s the best way I can explain it. It is the equivalent of mining the earth for valuable resources.
I could go on and on with this, but the word count has already reached 1000+. So I choose to stop here.
My question to you now is, what do you think doesn’t belong in this list:
A. Monopoly Money
B. United States Dollar
C. Gold Coin
I’ll leave you to figure this out, but I’ll tell you an interesting fact about it. Ivy League Professors got it wrong, young children got it correct.
Have a thoughtful day.