Fiat Money and the Case for Bitcoin
Our monetary system, while being deeply embedded in our society, suffers from clear limitations. Significant macro risks are looming on the horizon, but Bitcoin may help to mitigate these risks.
(The Money Lender and his Wife - Quentin Matsys, 1514)
What is money?
Conventionally, economists acknowledge the following three major functions of money:
1. A medium of exchange – used to buy goods and services.
2. A store of value – transfer of purchasing power from th…
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