Time Futures

[BDGBDG]

You can trade futures on everything from risk to weather; do you think we will ever see a futures market in time?

 

[CONR]

Time on what? When Isreal takes out Iran.

 

[BDGBDG]

No, just time. Like hours or minutes or years.

 

[CONR]

I'm not following. Time only progresses. If it stops, you've got bigger things to worry about than how many contracts you're long.

 

[BDGBDG]

Well, just say you are a building company and you need to get something built by a certain time. If you can't finish in time, instead of paying a penalty, you offer to pay in time (like a currency), which can they be used later by the recipient. I just think the person who can commoditize time will become very, very rich.

 

[BDGBDG]

It is probably impossible, but one never knows.

 

[MTE]

How about futures on sex!? With physical delivery, no cash settlement.

 

[CONR]

Quote from BDGBDG:

It is probably impossible, but one never knows.

I wouldn't say immpossible. Like everything else these days, somebody comes up with something.

 

[hirsch.im.wald]

If you've read Adam Smith (the real one, 18th cent.) you know that money is accumulated work, i.e. time.

The only problem is, there is no "pure money". There are only credits backed by entities ( like the US) or commodities.
Adam Smith identified wheat as the real "hard currency" in his time, because a set amount of wheat represents a set time of survival and therefore work.
In our days that would be more complicated, I guess...

 

[Thunderdog]

Quote from BDGBDG:

Well, just say you are a building company and you need to get something built by a certain time. If you can't finish in time, instead of paying a penalty, you offer to pay in time (like a currency), which can they be used later by the recipient. I just think the person who can commoditize time will become very, very rich.

You're bored, aren't you?


The example you gave would just complicate life, would it not? If the building company did not complete on time, how much "commoditized" time should be given to the client? And when would this time be made available? And how does that help the client who needs his factory/office/store NOW? I doubt that the receiving end of the equation will accept a deferred payment which would smell a bit like passing the buck. Further, how would you go about establishing a "commoditized" time contract? Lawyers tend to charge more than plumbers, and there are even variations within a given field, reflecting experience and ability.

You're bored, aren't you?