What is Bitcoin #1: A History of Money From Barter to Banknotes to Bitcoin

Grasping the value proposition of Bitcoin can be difficult. For starters, it can take time for newcomers to understand how a currency that lives in the virtual realm can have any real-world value. ‘Seeing is believing,’ and so many have a hard time dissociating between the idea of money and the physical manifestation of money. Ask a child ‘What is money?’ and you’re likely to receive a range of answers, many of which reference something physical. Coins, notes, banks, credit cards are some of the words your young friend might use. Many adults would give a similar response. But there is so much more to money than meets the eye. Throughout history, money has evolved time and again, becoming more abstract in the process. Following this history can give us some perspective into the true nature of money and Bitcoin’s role in ushering in the next phase in the evolution of money.

Today, Bitcoin continues to draw in more and more holders on its aggressive march towards becoming full global money. In fact, the number of active addresses on the Bitcoin network broke records during January thanks to all the extra eyes focusing on Bitcoin.

With all the renewed enthusiasm comes a new wave of holders, many of whom haven’t had to give much thought to the history of money. Until now.

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Barter, Beads, Bullion and Banks: The Four Eras of Pre-Bitcoin Money

Want to see how the story unfolds, head over to our blog and finish it off!