bitcoin what is (the best) money?

to understand bitcoin you have to understand what money is

money is a solution to the problem of barter. a society can only scale with a common good called money

it is not the root of all evil. it is a tech solution in the history of mankind

if we would create the best money it would have these six properties:

  1. fungible: units are interchangeable
  2. durable: doesn’t spoil or fall apart
  3. portable: easy to move or transfer
  4. verifiable: easy to authenticate
  5. divisible: works for tiny amounts
  6. limited: no new units at will

it needs to fulfill this three core functions:

  1. store of value: savings hold purchasing power over time
  2. unit of account: measurement for value. comparable prices
  3. medium of exchange: exchange goods without the need for barter

bitcoin is on the way to check all these boxes. it is the best money humanity has

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