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Is Barter.Monster token a real money?

Money, fiscal money or legal tender refers to currency that must be accepted by law for the settlement of debts and transactions within a particular jurisdiction. Legal tender means that the currency issued by the government must be accepted as a form of payment and settlement of debts within the country.

Barter.Monster is a community with its own rules, trade restrictions, business transaction contracts and traditions. That makes us a small legal system, trading jurisdiction. Ofcourse, we act within every law in our legal jurisdiction of the United Kingdom and obey all the rules of our legal government jurisdiction..

Before the introduction of paper currency by the United States government (the “greenbacks”), only gold and silver coins were considered legal tender. This means that individuals and businesses were legally obligated to accept these coins as payment for goods, services, and debts.

In contrast, paper money before the greenbacks consisted of banknotes issued by private banks. While these banknotes had value based on the reputation of the issuing bank, they were not considered legal tender. This means that acceptance of these banknotes as payment was subject to the discretion of the parties involved in a transaction.

The introduction of greenbacks represented a shift because they were declared legal tender by the federal government. This meant that the paper currency issued by the United States government became an official medium of exchange that had to be accepted for payment of debts and transactions, thereby increasing its acceptance and usability in the economy.

Is Barter.Monster token real money? Yes. You can buy and sell with tokens, you can earn and even create tokens by trading (token back is equivalent of cash back).

Our community functions within a framework similar to traditional legal systems, with structured rules and agreements governing transactions. Additionally, our commitment to compliance with laws within the jurisdiction of the United Kingdom underscores the legitimacy of Barter.Monster token as real money.

Moreover, just as the introduction of greenbacks increased the acceptance and usability of paper currency in the U.S. economy, the recognition of Barter.Monster token as a legitimate medium of exchange within our community enhances its credibility and utility. Barter.Monster token serves as more than just a speculative asset – it fulfills the fundamental functions of money, such as facilitating transactions and incentivizing economic activity.

Similarly to fiscal money, Barter.Monster token is indeed real money within our community, offering practical utility and operating within a framework that ensures fairness, trust, and compliance with legal regulations. As a community money, the internal token creates communities and prosperity within local communities. As our local communities continue to grow and evolve, Barter.Monster token stands as a testament to the innovative potential of decentralized currencies in shaping the future of finance.