bitcoin what is (the best) money?
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:
- fungible: units are interchangeable
- durable: doesn’t spoil or fall apart
- portable: easy to move or transfer
- verifiable: easy to authenticate
- divisible: works for tiny amounts
- limited: no new units at will
it needs to fulfill this three core functions:
- store of value: savings hold purchasing power over time
- unit of account: measurement for value. comparable prices
- 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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