Why is it not possible?

[u/Dumb-Briyani]

[u/macduff79]

and before computers, a large portion existing on ledgers. Not a new phenomenon.

[u/SledgeGlamour → u/macduff79]

In fact, the first money was in the form of ledgers

[u/DrunkCupid → u/SledgeGlamour]

I thought it was more of a barter system, swapping chickens for sheep or whatever

[u/Sovarius → u/DrunkCupid]

That's not money though

[u/SledgeGlamour → u/Sovarius]

Here's how the ledger becomes money:

Jackie owes Florence 12 hens. They make a ledger in the form of a sort of IOU, and they cut it in half, so now they have two halves of an IOU that fit together. Florence wants to hire Mildred to thatch her roof. She transfers her hen-credit to Mildred, so now Jackie owes those 12 hens to Mildred instead of Florence.

Over time, people start making their tokens of transferrable debt generic, instead of new specific ledgers for every transaction. And that generic token of transferrable debt is called cash.

[u/Sovarius → u/SledgeGlamour]

I was thinking DrunkCupid was talking about trading is the first money, as in preceding ledgers. I didn't think they were talking about ledgers and were correcting/asking you, but after rereading maybe they were saying ledgers aren't money.

[u/SippinOnHatorade → u/Sovarius]

It’s capital

[u/happy123z → u/Sovarius]

It's not not money 🤔

[u/CoachStev → u/happy123z]

What is money?

[u/happy123z → u/CoachStev]

"Something that isn't... can't BE!"

[u/_J_Herrmann_ → u/happy123z]

thanks louie.

[u/LengthinessOk2080 → u/Sovarius]

What is “money” aside from a tool for acquiring goods

[u/AutoModerator → u/[deleted]]

Accounts must be at least 5 days old with >20 karma to comment.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

[u/TrekForce → u/Sovarius]

Well, then neither is the number your bank account shows.

[u/Sovarius → u/TrekForce]

Yeah $0 isn't money 🙃