Create 2021-4-26-time-is-your-only-money.md

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+---
+layout: post
+title: Startup ideas for 2021
+description: Why time is your only true money
+categories: [startup]
+keywords:
+  [time, money, life, advice]
+---
+
+Time is money. You’ve probably heard this phrase before.  
+I would argue that time is the only real money we humans have. Money has three primary functions.  
+It is a medium of exchange, a unit of account, and a store of value. Let’s see how time fits into all these categories:  
+
+- **Medium of Exchange**: When money is used to intermediate the exchange of goods and services, it is performing a function as a medium of exchange.  We, humans, exchange time in return for money but what we exchange is just time. When you order pizza delivery for $10 you spend money to save time. On the other side, someone is spending their time delivering that pizza to you. Assuming the delivery took 30 minutes, you both value your time at $10.  
+- **Unit of Account**: It is a standard numerical unit of measurement of the market value of goods, services, and other transactions. It is a standard of relative worth and deferred payment, and as such is a necessary prerequisite for the formulation of commercial agreements that involve debt. To function as a unit of account, money must be divisible into smaller units without loss of value, fungible (one unit or piece must be perceived as equivalent to any other), and a specific weight or size to be verifiably countable. You can measure time in seconds, hours, years, etc… When you spend time, you can quantify it. This way actions that take more time “worth” more than shorter actions.  
+- **Store of Value**: To act as a store of value, money must be reliably saved, stored, and retrieved. It must be predictably usable as a medium of exchange when it is retrieved. Additionally, the value of money must remain stable over time. This is trickier.  Time has a deflationary aspect into it - the older you get the more you need it. The value of time also fluctuates a lot based on your status in life. If you have 3 kids, two full-time jobs, and lots of earnings, having a free hour may be worth more to you than to someone who’s retired.  An extra week worth more for someone who’s about to die than to a 7-years old kid in school. Someone who’s in prison will want time to pass faster than someone who’s enjoying her weekend getaway.  
+
+Unlike fiat currencies, you cannot “print” more time. Unlike Bitcoin, you don’t know when you will run out of your funds.  
+Time is scarce, time is exchangeable and time is your only money in this world.  
+
+Use your time wisely. 
+
+
+