Tuesday, December 31, 2013

Why does Promise Language make a difference?

It allows other forms of value to be conveyed to facilitate a transaction.  The individual chooses the form of value.  The efficiency allowed through a common protocol decreases the costs of value translation.  The availability of money is not dictated by a single monopoly.  If, for example, a person who wishes to make the transaction does not have dollars available, and the other party wants dollars, another form of value can be introduced that allows the transaction to complete.  The Wealth Translator takes a fee for that translation.  This might sound like an academic discussion, but is not.  It removes the constraint of a single "money supply"'s availability and allows alternatives to the monopoly.

The people promoting existing currencies all want their currency to be used during the transaction.

People want the things they can buy.

They want value or wealth storage.

By holding their wealth in an easily transferable form like Bitcoin or gold, they can hold an appreciating currency while not requiring the people they do business with to accept Bitcoin or gold.

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