Before we dive into the world of cryptocurrencies, let us take a step back and learn some basics about the concept of money. Money is everything that can be used as a medium of exchange Money had many different forms throughout human history Before the invention of money, people used barter systems (though newer research suggests that money developed after the invention of debt ) Bitcoin is the biggest financial innovation since the introduction of credit cards in the 1950s and the dawn of online banking in the late 1990s In this lesson, you will learn the fundamentals of money. W hat is money? People have been exchanging things with each other since the dawn of humankind. First there were barter systems. People exchanged items that they attributed equal intrinsic value to, as in “I give you this animal hide and you give me that sharp stone you found.” This system works quite well for exchanges between two people, but is usually too complex as soon as more people, mor...
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