Could it work?
A)It wouldn't be monopolyzed
B)Has real value
C)It is linked to production and population growth
D)It wouldnt rely on foreing countries resources,unlike gold or silver
E) Easy to transport
>>80350544
>>>/biz/
ask them about ethereum
>ordering Pizza
>dingdong.mp3
>Hello Sir, here is your Pizza
>That would be 9 Thunders, plus Sparks
>Ok
>>80350544
And the KW is very easy to measure
Because then a countries value would be completely dependent on population which in turn would lead to mass overpopulation
>>80350691
>ordering Pizza
>dingdong.mp3
>Hello Sir, here is your Pizza
>That would be 3 pieces of paper with the number 5 written on it
>Ok
>>80351027
>Because then a countries value would be completely dependent on population
Not really. It would only affect the monetary mass.
>>80351037
that better be a large pizza with free coke for 15 bucks, jesus you wont get any change for charging this much
>>80351244
>that better be a large pizza with free coke for 15 bucks, jesus you wont get any change for charging this much
>German humour
>>80351131
Which is all countries care about. Only advantage their would be is major advancements in power saving
>>80351379
that was not supposed to be funny.
if you are charging 15 eurones for 1 Pizza, you might aswell just close your shop immediately.
must large pizzas here dont even cost over 10 euro
>>80350544
It can be easily created. Enjoy your inflation.
>>80351490
>Which is all countries care about.
No. Some countries dont even have a saying on their monetary policies,like Ecuador or Andorra.
>>80351551
>It can be easily created
If energy is mass produced,the price of the KW would drop,increasing productivity by a lot,which would result in higher wages. Also,if its mass produced,companies would start losing their profit margin,and it would reorganize the monetary supply at the end,as companies go under the bus
>>80354743
>inflation = 42
Energy is correlated with production.
Ethereum. Buy it
>>80350544
Every MEME coin is based on electricity if you didn't get it yet. Buy MEMES.
>>80351551
This is why MEME coins limit the amount of electricity you can consume.
There already is some good electric currency like Bitcoin or TRUMPcoin
Ethereum.
buy it or stay poor
Purchase ethereum or die penniless
>>80350544
No. Currency is a medium of exchange of goods and services. Currency cannot be a goods or service because then it'd be barter trade. It'd work completely differently, anyone could produce electricity. Currency could be used up. Currency would not be subject to governmental controls.
>>80359804
For an above-average IQ nation that was a below-average post.
>>80350544
It could, but in the long run you'd still need abstract via numbers or material currency.
>>80350544
>E) Easy to transport
Dude what?
>>80350686
Eth is a mess
>>80360423
Electricity is very cheap to transport.
>>80360004
>you'd still need abstract via numbers or material currency.
Dolars and euros would be backed by the KW production of a country,like it happened in the past with gold.
Really, I think the devil would be in the details. Would batteries and other chemical storage devices be considered currency? If not, then we must more narrowly define our "electric" currency, and if so, how do we gauge the value of a battery? Obviously you could work out how much chemical potential energy SHOULD be available, but what about manufacturing errors that lead to shorts, or if the battery is some type of rechargeable battery, how would one account for the loss of capacity over time? This could be done in principle by recording the number of charge/discharge cycles of the battery, but this would not be 100% accurate, and there would still be other factors, such as heat, humidity, quality and stability of the charging source, etc.
The other problem I see with an electric currency is the fact that our productive capability for electricity increase rapidly, and if it were used as currency, it could feasibly increase much, much faster even with available technology. This was not really true of gold or silver, there are caps as to how much gold/silver can be mined, and it can only be found in certain areas, and even with improvements to technology, the rate of gold production is quite a bit more predictable. Electricity, on the other hand, is essentially limited only by the infrastructure available to transport it great distances.
I suppose it might work, if it was more clearly defined and the valuation of the currency could take into account varying production, transport and infrastructure costs (e.g. 1 kWh in, say, Haiti, would have far, far more purchasing power than 1kWh in the US, and if you "saved" 1kWh in a bank, it would lose value very quickly). I think if OP furnished a few more details about his idea, it would become a little more clear if it were feasible or not.
>>80350544
>suddenly money hording turns into energy hording
>ghettos turn to a complete blackout
>electricity becomes a luxury
>>80359562
>Soon to be proof of stake currency
No thanks
>>80362543
>money hording
Pls stop using memes.
> ghettos turn to a complete blackout
Why?
> electricity becomes a luxury
How? Energy is usually cheap to produce.
op you lil choo choo
its already in moition. digital moneyz m8.
>>80350544
i have a feeling fraud would be relatively easy to commit with it. it is now, but easier with electric based currency
>>80362017
>Would batteries and other chemical storage devices be considered currency?
No. The idea would be that the currency could be exchange by KW's, as it happened before with gold. The main idea is that the production of energy is directly related to the population growth and economic growth,which would solve the problems that the gold backed currency had, as the available gold may be scarce,for the population of a country or its consumption,or that said country doesnt have gold mines,so the monetary demand would be determined by miners.
So how would cash money looks like? Batteries?
>>80350544
I love the idea but it probably arrived too late. I think in the future we will just use credit or something like bitcoin.
>>80360004
>below average post
>IQ meme
And where was I wrong? It is technically barter trade. And because of uncontrolled inflation it could not function anything like a currency.
>>80363297
You'd probably just be tied to the grid, you use only what you use and you can sell/buy energy from some online overhead.
>>80363297
>So how would cash money looks like?
Regular bills. The difference is that you could exchange them for KW's,as it was done before with gold.
>>80363118
First of all, I am assuming you mean kWh's, not KW. A kilo-watt measures a rate of energy transfer. There really is no way to use a rate of change as a currency, that is nonsensical.
Second, you really have one misconception that somewhat weakens your argument, "The main idea is that the production of energy is directly related to the population growth and economic growth..." Yes that is true, but really, electricity is only generated in a given area when the expense of infrastructure can be justified by demand--when if becomes economically feasible. If electricity was a currency unto itself, it would ALWAYS be economically feasible to generate electricty, which would lead the the chaotic growth I am talking about.
To clarify, assuming technology does not move or improve AT ALL, electricity production could still be increased by at least ~1-2 orders of magnitude very easily, and this would certainly happen if it became a currency, because, as I said before, it would perpetually be economically feasible. If you take into account growth of technology, alternative energies (especially solar), and so on, the growth of production would very likely become highly unpredictable. As you said, batteries cannot be used to store electricity, so how would electricity be stored? Could it be stored at all in your system?
>>80363297
paper notes.
the thing giving the note value would be that you can trade it in for a certain amount of electricity.
look up "gold standard" if you want to learn about the concept
>>80350544
Electricity generation is mainly based on magnets. While the Jews have their useless Gold, we should hoard all the magnets, and seize control of areas where they are found.
>>80351534
>Being this dense
>>80363848
>f electricity was a currency unto itself, it would ALWAYS be economically feasible to generate electricty, which would lead the the chaotic growth I am talking about.
Cheaper energy=increased of production. As long as some environmental regulations are implemented,it should be fine.
> To clarify, assuming technology does not move or improve AT ALL, electricity production could still be increased by at least ~1-2 orders of magnitude very easily
Energy becoming too cheap is not a real issue.
> As you said, batteries cannot be used to store electricity, so how would electricity be stored? Could it be stored at all in your system?
No need to physically store it. You would be entitle to change your money to Kilowatts,that would be paid by the goverment,bills in reality are loans,and this loans could be paid in Kilowatts of energy.
It is actually a decent idea, but it should be more flexible. Perhaps a currency backed by energy, whether it's nuclear, hydro, gas, coal, etc.
>80363297
But value of kw/h not something universal like a value of gold. It differs from place to place even inside one country.
>>80364419
>But value of kw/h not something universal like a value of gold. It differs from place to place even inside one country.
Nothing wrong with this,as a KW of India would be cheaper than one in the US,which it adjusts it to the economic reality.
>>80364288
Again, kilowatts are a rate of change. Using the gold standard analogy, it would be like saying a note was worth 5oz. of gold per second. It really does not make sense, as it is a rate of change.
As for why chaotic growth is bad, pretty sure you just do not understand my point. The cheapness or expense of electricity does not matter at all, I am saying that you CAN NOT PREDICT the growth because of the ease of production.
I have tried to walk you through this as simply as I could. To be frank, you have no idea what you are talking about, economically or about electricity. I am not saying you are stupid, but you are so profoundly ignorant it is difficult to even help you understand where you are wrong.
99% of transactions these days are done with imaginary numbers on a computer server at a bank.
I'd say that's the future of currency senpai
>>80364886
The enrgy transaction would not be stored m8.You can could change 1 dolar for energy.I am not talking about storing it.
>you CAN NOT PREDICT the growth
This can be said about any currency backed by something.THe discovery of America and the huge influx of silver and gold is a good example,the difference would be that energy consumotion is usually related to economic growth
As soon as you gets yours, take a bath with it fernando
>>80350544
But then power companies would basically become central banks, regulating the value of the currency by producing more or less, just as central banks do now by printing more or less money. You'd end up in basically the same place as before, but with all the difficulties of storing and transporting electricity efficiently.
>>80363848
We buy digital water, digital gold, digital oil all the time. Even your cash is digital.
>>80351718
Or like you and the rest of the EU
>>80361041
>Dolars and euros would be backed by the KW production of a country,like it happened in the past with gold.
Exactly.
>>80363478
>energy
>uncontrolled inflation
Where is that spacefuture fusion generator you've been hiding?
>>80350544
>A)It wouldn't be monopolyzed
>B)Has real value
>C)It is linked to production and population growth
>D)It wouldnt rely on foreing countries resources,unlike gold or silver
>E) Easy to transport
IMPOSSIBLE TO STORE
Amazing surrency mate.
World economy alredy rotates around energy resources such as OIL, oil is energy that can be stored, it already is ruling the world.
>>80368755
>IMPOSSIBLE TO STORE
Oil,coal or Uranium are stored energy.
>>80351534
Achmed, when the EU collapses and the Euro fails you know you're just going to resort to using pound sterling. You'll beg for it, and we'll give it to you.
And then we'll own you.
>>80350544
>A)It wouldn't be monopolyzed
manolo
r u fucking STUPID?
>>80351534
>even krauts have shit cheaper than us
>>80350544
>Lolbertarian Autism Currency v. 58
They never learn
>>80350544
you can't store it so you would want to consume as much as possible which would lead to environmental problems
>>80372752
>manolo
>r u fucking STUPID?
It is expensive as fuck to monopolyze enrgy.Burning shit can produce energy.
The future of fintech will run on block chain and the country's currency
Blockchain like eth and bitcoin will be used for big purchases like a house or car as well as online tech - which can be used to prevent piracy
Currency will be used for small convenient purchases like groceries or a cup of coffee
I don't think this will change until cryptos become easier to purchase and an instant form of payment
>>80366325
Except now there are two groups in charge of manipulating our currency. Central banks and power companies. The monopoly is gone.
