🐰💬 Money history says BTC is the way to survive.
Ever really perceived the nemesis yourself?
That the deposits in the bank are depreciating every day.
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Before you feel screwed, you have to know the money.
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The evolution of money reflects the transition of "trust" from a belief based on the relationship between people, to a belief in the authority of institutions and the state.
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Historically, humans exchanged with a system, an economy of gratitude - a system that relies directly on personal relationships and trust, such as today I divide food for you, tomorrow you repay that gratitude. This system works in a small community that everyone knows.
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But as society grows beyond the boundaries of personal relationships, Barter exchanges occur, this system does not require "credibility," but instead relies on real-to-real exchanges.
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A major turning point occurred when there was coinage in the 7th century BC.
Coins are not only valuable because of the metal inside, but because the power of the king is the certifier of value, counterfeiting is considered a direct attack on power, and this is the beginning of "centralized trust."
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Later in the Fiat Money era,
Money value is no longer bound to precious metals, but is based on "confidence in governments and central banks." This is a transition from a distributed personal trust to a centralized trust in institutional systems.
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But even so,
This system was heavily criticized, especially after the 2008 financial crisis, which exposed the systemic vulnerability of banks that were seen as creating global risk, both as stabilizers. It relied on the injection of government money to prevent collapse, and that further reinforced doubts about "centralized credibility."
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Commercial banks have also been criticized for "making money out of aircraft."
When approving a loan, the bank does not actually pay, but simply adds a number to the borrower's account, which is literally only the bank's "promise," so the value is based on a structure of belief, not real assets.
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Of these failures themselves.
Bitcoin was born in 2009 to offer a system that does not rely on trust in any institution, its principle being "In code we trust" - providing blockchain transparent codes and mechanisms as authenticators instead of people or organizations.
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Although Bitcoin is not the perfect choice and has limitations on usage, energy and price stability, what it gives is an important question to the global financial system: Should we still leave all our confidence to institutions that we cannot control?
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Source: A Brief History of Money: From Favors to Bitcoin and Beyond
The 4 Eras of Money: Why Bitcoin is the Future
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