Score
Title
759
How To Search ELI5: A Quick Reminder About Rule 7
12079
ELI5: How to find lumps in breast? Everything feels lumpy, I don't get it.
51
ELI5: How is an i7 processor faster than an i3 if the clock speed is almost the same?
14195
ELI5: how do cuts on the inside of your mouth, on your cheek, tongue and lip not get super infected by all of our nasty mouth germs?
14
Eli5: What’s the point of hiccups? Does it serve a purpose for humans to have them.
6
ELI5: what determines whether a surface becomes slippery or sticky when wet?
5
ELI5: What makes the Mona Lisa painting special?
6
ELI5: What is gentrification, and why does everybody that talks about it seem so opposed to it?
32
ELI5: how come people sometimes shake their legs or bounce them up and down repetitively when when they are sitting?
7
ELI5: Why does the marginal cost curve has an U shape?
6
ELI5: Why do so many mobile phone manufacturers sell their devices in different regions of the world with different processors?
7
ELI5: Why are DVDs encoded differently around the world (i.e. Region 1, Region 2, etc.)?
60
ELI5: Why do airplane engines rev up so fiercely upon landing?
3
ELI5: How does acid stay in a person’s stomach after death and not begin to immediately eat away at the body?
2
ELI5: Where does cremation come from and why did it get so embedded with the Slovenian customs while being so rare in other countries?
1
ELI5:What is the greenish crud that builds up on the tips of my metal liquid soap dispensers?
3
Eli5: how do radios with a scanning option know the difference between static and a station that comes in?
3
ELI5: How do glucose monitors actually work?
3
ELI5: Why does water dry out our hands?
4
ELI5: Fed minutes release and why it affects the market
4
ELI5: Why does perception of vision fade when thinking deeply?
2
ELI5 Why does wine give me such a quick buzz?
5
ELI5: How does the body know where send immune cells?
2
ELI5:How is air a good insulator?
11
ELI5:Why does mouthwash burn when you swish?
2
ELI5: What's a PKI
3
ELI5: How does stomach medicine like peptobismol work? As in, what does it do to your stomach?
1
ELI5: e-ink technology
1
ELI5: How do companies like that popular company selling EVs or that other popular ridesharing company lose billions of dollars each quarter and yet manage to avoid bankruptcy? Not only that they are viewed as companies which have a bright future in front of them?
2
ELI5: Why do even the cheapest soap products have their labels in French and in English?
0
ELI5: How come people go to school for so many years?
2
ELI5: Why did adultery become decriminalised in many western countries?
1
ELI5: How much damage will magnets cause in an average house?
3
ELI5: In determining blood type, the O allele is recessive to both the A and B alleles. Why is it then that O is the most common blood type and it's prevalence hasn't declined?
2
ELI5 Hyperloop tunnel?
1
ELI5: what is a high resistance ground system, how does it work, and why is this used?
2
ELI5: If waves only cause medium to oscillate vertically, then how come ocean waves splash water on the shore?
10
ELI5: What is a magic eraser and why does it work?
1
[ELI5] Why is soda/pop/cola carbonated
20406
ELI5: How do movies get that distinctly "movie" look from the cameras?
4
ELI5: How do banks trade physical money with each other in regards to online transactions/transfers?
10 flooey On the vast majority of banknotes, it doesn't mean much of anything anymore. Historically, banknotes were redeemable (at times practically, at other times only theoretically) for a specific amount of precious metal (usually gold). But that hasn't been true for most currency in decades. For example, the Bank of England has this to say about the phrase on their banknotes: > The words "I promise to pay the bearer on demand the sum of five [ten/twenty/fifty] pounds" date from long ago when our notes represented deposits of gold. At that time, a member of the public could exchange one of our banknotes for gold to the same value. For example, a £5 note could be exchanged for five gold coins, called sovereigns. But the value of the pound has not been linked to gold for many years, so the meaning of the promise to pay has changed. Exchange into gold is no longer possible and Bank of England notes can only be exchanged for other Bank of England notes of the same face value. Public trust in the pound is now maintained by the operation of monetary policy, the objective of which is price stability.
1 FinValkyria We need to think back to what notes were actually used for. Early on, currencies were tied to something, usually to the value of gold, also known as the "gold standard", or silver, known as the "silver standard". What this actually means is that your one dollar note was worth a certain amount of gold. This meant that you didn't have to carry gold coins around, which was of course handy. At that time, you could have taken the bill to a bank and demanded they give you the corresponding amount of gold (or silver, respectively), and they would have been obligated to do so. Conversely, you could have taken an amount of gold to the bank and exchanged it for the corresponding amount of dollars. Nowadays that is mostly not the case, as most currencies are not tied to any valuable material or other currencies, but are instead floating, ie. their value is determined by how much people are willing to pay for it. The text mostly remains in bills that are still tied to something, be that gold, silver or even another currency (it would be possible to tie the value of a currency to the US dollar, for example, in which case you could demand US dollars from the bank), but in floating currencies it is either omitted or a relic from that age.
1 cpast It's generally old text that no longer means anything. Originally, bank notes were issued by a bank to represent *real* money (e.g. gold) the bank had, but which wasn't really suitable to carry around all the time. Instead of physically giving you actual gold for a purchase, I'd give you an IOU from a bank saying "we owe whoever has this note $X in gold." But you probably didn't want to deal with physical gold either, so you could just hang on to that something and give it to someone else instead of giving them physical gold. At any point, someone could take this IOU to the bank and get it converted to real money. Over time, these IOUs became just as much "real" money as the gold was; there was generally no reason to convert them to gold. Laws were passed making it so that they counted as a legitimate way to pay off a debt, which gave them a second thing (besides getting gold) that they were legally guaranteed to be useful for. Since exchanging them for gold no longer served much purpose and made it harder to keep the economy running smoothly, governments dropped the idea that they just represented real money. At this point, banknotes *are* real money, not a promise of a certain amount of a commodity. But some designs might still keep the old text.
8 0 flooey On the vast majority of banknotes, it doesn't mean much of anything anymore. Historically, banknotes were redeemable (at times practically, at other times only theoretically) for a specific amount of precious metal (usually gold). But that hasn't been true for most currency in decades. For example, the Bank of England has this to say about the phrase on their banknotes: > The words "I promise to pay the bearer on demand the sum of five [ten/twenty/fifty] pounds" date from long ago when our notes represented deposits of gold. At that time, a member of the public could exchange one of our banknotes for gold to the same value. For example, a £5 note could be exchanged for five gold coins, called sovereigns. But the value of the pound has not been linked to gold for many years, so the meaning of the promise to pay has changed. Exchange into gold is no longer possible and Bank of England notes can only be exchanged for other Bank of England notes of the same face value. Public trust in the pound is now maintained by the operation of monetary policy, the objective of which is price stability.
1 0 FinValkyria We need to think back to what notes were actually used for. Early on, currencies were tied to something, usually to the value of gold, also known as the "gold standard", or silver, known as the "silver standard". What this actually means is that your one dollar note was worth a certain amount of gold. This meant that you didn't have to carry gold coins around, which was of course handy. At that time, you could have taken the bill to a bank and demanded they give you the corresponding amount of gold (or silver, respectively), and they would have been obligated to do so. Conversely, you could have taken an amount of gold to the bank and exchanged it for the corresponding amount of dollars. Nowadays that is mostly not the case, as most currencies are not tied to any valuable material or other currencies, but are instead floating, ie. their value is determined by how much people are willing to pay for it. The text mostly remains in bills that are still tied to something, be that gold, silver or even another currency (it would be possible to tie the value of a currency to the US dollar, for example, in which case you could demand US dollars from the bank), but in floating currencies it is either omitted or a relic from that age.
1 0 cpast It's generally old text that no longer means anything. Originally, bank notes were issued by a bank to represent *real* money (e.g. gold) the bank had, but which wasn't really suitable to carry around all the time. Instead of physically giving you actual gold for a purchase, I'd give you an IOU from a bank saying "we owe whoever has this note $X in gold." But you probably didn't want to deal with physical gold either, so you could just hang on to that something and give it to someone else instead of giving them physical gold. At any point, someone could take this IOU to the bank and get it converted to real money. Over time, these IOUs became just as much "real" money as the gold was; there was generally no reason to convert them to gold. Laws were passed making it so that they counted as a legitimate way to pay off a debt, which gave them a second thing (besides getting gold) that they were legally guaranteed to be useful for. Since exchanging them for gold no longer served much purpose and made it harder to keep the economy running smoothly, governments dropped the idea that they just represented real money. At this point, banknotes *are* real money, not a promise of a certain amount of a commodity. But some designs might still keep the old text.