The Money Bag — Scoobi LAND Sale — 6th Wave
Fifth wave has reached the end so let’s now catch the woof of the sixth wave! Same as usual the purchase price is increasing, to own a LAND it will now cost 0.21 ETH. All participant in the 5th wave can now refresh metadata of their LAND to reveal which size they’ve received.
Concerning The Sushi, we are still doing few verification but all eligible hodlers will receive their EXTRA NFT within 24h.
6th wave is on track, we are now introducing The Money Bag as EXTRA NFT. Everyone recognizes the benefits of a universally accepted medium of exchange. But how could such a money come into existence? After all, self-interested individuals would be very reluctant to surrender real goods and services in exchange for intrinsically worthless pieces of paper or even relatively useless metal discs. It’s true, once everyone else accepts money in exchange, then any individual is also willing to do so. But how could human beings reach such a position in the first place?
Sale LIVE on Opensea: https://opensea.io/collection/scoobi-lands
The history of money
Money, whether it’s represented by a shell, a metal coin, a piece of paper, or a string of code electronically mined by computer, doesn’t always have value. Its value — currently estimated at around $420 trillion (source) — depends on the importance that people place on it as a medium of exchange, a unit of measurement, and a storehouse for wealth.
Money allows people to trade goods and services indirectly; it helps communicate the price of goods (prices written in dollar and cents correspond to a numerical amount in your possession, i.e., in your pocket, purse, or wallet); and it provides individuals with a way to store their wealth.
Money is valuable as unit of account — a socially accepted standard by which things are priced and with which payment is accepted. However, throughout history, both the usage and form of money have evolved.
While often the terms “money” and “currency” are used interchangeably, several theories suggest that these terms are not identical. According to some theories, money is inherently an intangible concept, while currency is the physical (tangible) manifestation of the intangible concept of money.
“Those who are counterfeiting will be decapitated.” — Chinese inscription on paper money (source)
By extension, according to this theory, money cannot be touched or smelled. Currency is the coin, note, object, etc. that is presented in the form of money. The basic form of money is numbers; currently, the basic form of currency is paper notes, coins, or plastic cards (e.g., credit or debit cards). While this distinction between money and currency is important in some contexts, for the purposes of this article, the terms are used interchangeably.
From Bartering to Currency
Money–in some form or another–has been part of human history for at least the last 5,000 years (source). Before that time, historians generally agree that a system of bartering was likely used.
Bartering is a direct trade of goods and services; for example, a farmer may exchange a bushel of wheat for a pair of shoes from a shoemaker. However, these arrangements take time. If you are exchanging an axe as part of an agreement in which the other party is supposed to kill a woolly mammoth, you have to find someone who thinks an axe is a fair trade for having to face down the 12-foot tusks of a mammoth. If this doesn’t work, you would have to alter the deal until someone agreed to the terms.
Slowly, a type of currency developed over the centuries that involved easily traded items like animal skins, salt, and weapons. These traded goods served as the medium of exchange (even though the value of each of these items was still negotiable in many cases). This system of trading spread across the world and still survives today in some parts of the globe.
One of the greatest achievements of the introduction of money was the increased speed at which business, whether mammoth-slaying or monument-building, could be done.
In early August 2021, Chinese archaeologists with the State University of Zhengzhou announced that they had discovered the world’s oldest known, securely dated coin minting site. A mint is a facility where currency is created. Sometime around 640 BCE, this facility, located at Guanzhuang in the Henan Province of China, began striking spade coins, likely the first standardized metal coinage. Source
The Emergence of Currency Wars
The shift to paper money in Europe increased the amount of international trade that could occur. Banks and the ruling classes started buying currencies from other nations and created the first currency market. The stability of a particular monarchy or government affected the value of the country’s currency, and thus, the ability for that country to trade on an increasingly international market.
The competition between countries often led to currency wars, where competing countries would try to change the value of the competitor’s currency by driving it up and making the enemy’s goods too expensive, by driving it down and reducing the enemy’s buying power (and ability to pay for a war), or by eliminating the currency completely.
The 21st century has given rise to two novel forms of currency: mobile payments and virtual currency. Mobile payments are money rendered for a product or service through a portable electronic device, such as a cell phone, smartphone, or a tablet device. Mobile payment technology can also be used to send money to friends or family members. Increasingly, services like Apple Pay and Google Pay are vying for retailers to accept their platforms for point-of-sale payments.
Bitcoin, released in 2009 by the pseudonymous Satoshi Nakamoto, quickly became the standard for virtual currencies. All of the world’s bitcoin, as of November 2021, were worth just over $1 trillion, or nearly 3% of all of the world’s money, Virtual currencies have no physical coinage. The appeal of virtual currency is it offers the promise of lower transaction fees than traditional online payment mechanisms, and that they are operated by decentralized authorities, unlike government-issued currencies.
Hopefully now you are good and you know way more about how money has been fabricated. We have created this unique and exclusive NFT to symbolize the significant importance of Money in our humankind history.
Sale LIVE on Opensea: https://opensea.io/collection/scoobi-lands
This post was inspired from Investopedia article. Source: https://www.investopedia.com/articles/07/roots_of_money.asp
💡Reminder: We will release 2 to 4 act per year. Some of the NFT created for each act will be airdropped to reward long term holders, diamond hands who are never selling Scoobi tokens, or at least not all their bag. Last episode of each act will be only available through Airdrop. You will need to hold at least 10M Scoobi to be eligible for the Scoobi NFTdrops. The weight of all holder is calculated by a custom-made algorithm which is taking in account amount of Scoobi held, the LP provided (which will give you a lot of boost to your weight) and the amount of time you have been holding those tokens. If you sell all the Scoobi you are holding, your weight level will not be reset to zero right away, but instead it will decrease slowly and gradually.
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⚠️ Disclaimer: We do not guarantee anything. Past performance is not a reliable indicator of future results and investors may not recover the full amount invested. The value of this collection can greatly fluctuate as a result of Scoobi’s investment policy and it is not guaranteed. The above references an opinion and it is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.