Quote:
Originally Posted by Giggleton
The way most of you describe timebanks makes it sound like money. I view timebanks as just a bit of bookkeeping to keep things organized.
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Here you have clearly shown, not understanding the concept of money. The saying "Time is money." is to be understood literally, because money itself IS only a bookkeeping tool to keep things simpler. The difference is only on which resource its value is based on. While ATM mankind uses rare resources like gold or silver to do so (depending on which currency is used) nobody prevents the definition of time as a base for a currency system. What I pointed out in my previous post were the troubles of value determination in such case.
This is exactly why it is preferred to have the value transfer resources (money) more detached from the exchanged goods: it raises the versatility in comparison to bartering, which can become a complicated business. (As I actually like to swap goods and have taken part in a web community dedicated to this, I know what I speak about.) Another (than money) example of such a value transfer currency detached from the acquired goods are Experience Points used in role-playing games.