Cryptocurrencies Have Reached Exit Velocity
If central banks and governments wanted to finish off cryptocurrencies, that moment has now passed and each day that they continue to exist, is a challenge to the legitimacy of fiat-based institutions.
The post Cryptocurrencies Have Reached Exit Velocity appeared first on LUXUO.
Photo by Sharon McCutcheon on Unsplash
In the economic life of man, what constitutes value and qualifies as a medium of exchange is a far more plastic concept than anyone living in that age often gives credit for.
At its core, currency is about efficiency.
You have milk I need and I have potatoes you want, but instead of bartering for it (because I might not need the milk right now), currency becomes that temporary store of value until it?s time for me to go get that milk.
And contrary to popular opinion, our concept of the various forms that money should take also evolve relatively rapidly.
From pieces of eight to credit cards, each generation has waged its own battle for the soul of portable economic power and today, an ideological battle between the ?crypto-anarchists? in one corner and the central bankers with their fiat-based system in the other, is underway.
For now at least, the central bankers may be feeling confident that they?re winning this ideological battle.
Cryptocurrencies On the Ropes
Photo by Executium on Unsplash
In March, U.S. Federal Reserve Chairman Jerome Powell, speaking at a virtual panel discussion on digital banking hosted by the Bank for Int...
The post Cryptocurrencies Have Reached Exit Velocity appeared first on LUXUO.
Photo by Sharon McCutcheon on Unsplash
In the economic life of man, what constitutes value and qualifies as a medium of exchange is a far more plastic concept than anyone living in that age often gives credit for.
At its core, currency is about efficiency.
You have milk I need and I have potatoes you want, but instead of bartering for it (because I might not need the milk right now), currency becomes that temporary store of value until it?s time for me to go get that milk.
And contrary to popular opinion, our concept of the various forms that money should take also evolve relatively rapidly.
From pieces of eight to credit cards, each generation has waged its own battle for the soul of portable economic power and today, an ideological battle between the ?crypto-anarchists? in one corner and the central bankers with their fiat-based system in the other, is underway.
For now at least, the central bankers may be feeling confident that they?re winning this ideological battle.
Cryptocurrencies On the Ropes
Photo by Executium on Unsplash
In March, U.S. Federal Reserve Chairman Jerome Powell, speaking at a virtual panel discussion on digital banking hosted by the Bank for Int...
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