History of Money
Money is simply a form of trust.
Money is just a form of trust.
While many people view Crypto merely as a technology, in reality, it is an "evolution of the monetary system."
People see Crypto as just a technology, but in reality, it is an "evolution of the monetary system."
Did you know that stones were once used as money? 🪨💰
Did you know that limestone was once used as money?
Before we talk about Crypto, we need to understand what "money" actually is. In ancient times, people exchanged what they possessed to get what they wanted (the Barter System). For example, if you wanted a chicken, you might trade a basket of rice for it.
Before talking about Crypto, it’s important to first understand what "money" actually is. In ancient times, people exchanged what they had to get what they wanted (Barter System). For example - if you wanted a chicken, you might trade a basket of rice for it.
But here’s the problem: what do you do if the chicken owner doesn't want rice? 🤔
But what do you do if you encounter a chicken owner who does not want rice?
Because of this, humans began trying to designate specific mediums of exchange as "money." They used seashells, stones, and eventually, "Gold." This was because gold is rare, durable, and difficult to counterfeit.
In this way, people began to try to designate a medium of exchange as "money." They used seashells, stones, and ultimately used "Gold." This is because gold is rare, durable, and hard to counterfeit.
So, does the paper money we hold today carry the same value as gold? I’ll continue the story in the next post. 👇
So, do the paper money we are holding now carry the same value as gold? I will continue to explain in the next few days.
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