What is money? What is Cryptocurrency?
Aside from earning a crust, buying things, and squirreling it away in a bank, most people know little about the nature of money.
This series hopes to provide a stepwise introduction to describe what money is, and by extension, to what cryptocurrency is.
I intend is to make each posting educational and entertaining. Clap if it’s working…
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A Mild Dose of History
The alternative to money is barter, and when money fails — as it does in situations of hyperinflation (caused by moronic politicians believing you can print mountains of money without consequences) — barter takes over.
Then people have to find ways of swapping goods and services with each other and it’s complicated. The problem is that without money there is no unit of measure for value. You know this already.
You have an inner psychic mechanism that assigns value to things based on the currency you are familiar with: Dollars in the US, Balboas in Panama, Quetzals in Guatemala, and Dongs in Vietnam.
Try changing country. If you’ve ever done that, you’ll know its hard to adjust your sense of value, because costs are different, taxation varies, trade barriers exist and different (cultural) values predominate.
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