CRYPTOCURRENCY
What Makes Something Money?
What gives money value, and what is the best way to build wealth in the 21st century?
By Jesse Rogers
Disclaimer: I am not a financial advisor, and this is not financial advice. This article is for educational purposes only. Do your own research.
Have you ever wondered what gives money so much power?
Why is it that workers are willing to exchange so much time and effort to get their hands on colorful pieces of paper with pictures of dead people drawn on them?
Those are exactly the questions that the famous historian Yuval Noah Harari discusses in lesson 8, part 3 of his course titled A Brief History of Humankind.
According to Dr. Harari, “trust is the real raw material from which all types of money in history have been minted.”
Money is a system of mutual trust. You accept other people’s money for your goods and services precisely because you expect other people to do the same when you offer them money.
But how does this arrangement come about? How did trust develop in the first place? What is happening right now in the world of money? Most importantly, how…
