Half of nearly all transactions involve money, a medium of exchange (MOE). For almost everyone, one of those halves has always been derived, considered, instituted by governments. Also known as fiat, government money, notes, they appear to us as inevitable, right as rain, plainly self evident. However, for the first time in a long time, those notions are being challenged by cryptocurrency. At least one of the world’s most popular versions has a real chance to take the advance of cash (peer-to-peer, permissionless, final, censorship resistant MOE) and make it a global reality. Digital cash is closer than ever imagined to mimicking its government paper predecessor, without the bother of inherent violence, carrying distinct advantages previously unavailable in history.
Also read: Five Reasons Why Bitcoin Cash is About to Win Big
What Have Governments Done to Our Money?
If you’re new to thinking about money, welcome. It’s a vast, broad subject, and one that repays upon consideration and review. Chances are you’ve given the subject more thought these days due to wild cryptocurrency price speculation news. And it is thrilling. To think you’re able to invest in a digital asset at any stage, in full or fractions, and ride its swings can fill our heads with dreams of wealth accumulation. And if that’s the spark causing you to click over here, awesome. You should also begin to learn just why this bitcoin thing, this crypto thing, this brave new world is maybe even more important than typical manias or get-rich-quick schemes.
It doesn’t take long to learn a truism: government money loses value over time. Empirically, you know this. You don’t have carry a Nobel in economics to understand most products you purchased only a short time ago are more expensive. You’ve noticed, but,
