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Beginners Guide #2: What Is Money With Parker Lewis

In half 2 of The Bitcoin Beginners Guide, I discuss to Parker Lewis head of enterprise improvement at Unchained Capital. Parker solutions the query, what’s cash? We additionally focus on the historical past of cash and the traits of sound cash.

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****

99% of people dont know how the dollar works and 99% of people wont know how Bitcoin works, but it just works better as the next form of money.

Parker Lewis

Location: Skype

Date: Monday, sixth January

Project: Unchained Capital

Role: Head of Business Development

Welcome to The Beginner’s Guide to Bitcoin

Bitcoin will be intimidating for newcomers. The protocol is difficult, the group will be aggressive and unforgiving, foolish errors can lose you cash, and it’s simple to succumb to altcoin advertising.

Bitcoin does although, give you the chance to carry a brand new kind of financial asset, one which may’t be seized by the federal government and is censorship resistance and It has the potential to alter the way in which the world.

The purpose of What Bitcoin Did has at all times been about making issues easy; there aren’t any silly questions, and the present is right here to assist newcomers navigate this new world. To kick off 2020, we’re launching a particular sequence to assist newcomers perceive Bitcoin. We might be wanting on the fundamentals from breaking down the protocol to explaining the economics and discussing the potential societal shift.

Part 2 – What is Money with Parker Lewis

As the previous adage says: cash makes the world go spherical, however why? Money permits without cost commerce between individuals, fixing the double coincidence of needs drawback.

To facilitate commerce, early cash took many kinds: from Rai stones to salt to shells. The traits of base metals shortly led them to turn into the dominant type of cash as soon as launched, with gold being essentially the most valued.

In the 1800s, each the UK and the US, in addition to many different nations, carried out a gold normal, permitting banks to situation paper cash to symbolize the gold that they held in reserve. The gold normal maintained gold as a tough forex however with paper payments fixing the issue of transporting heavy bullion and divisibility.

In the 1930s, throughout the melancholy, the US authorities devalued gold and made it unlawful to personal privately. In 1931 the UK deserted the gold normal, and in 1971 the US severed any remaining ties to it. This marked the start of the present period of cash.

Whereas gold has the traits of sound cash – it’s sturdy, divisible, fungible and scarce, the brand new fiat financial system didnt and due to this fact was open to abuse by authorities. With its infinite provide, it misses the important thing traits of sound cash, shortage and price of manufacturing.

Bitcoin has all of the traits of sound cash; nevertheless, in a single key space, it far exceeds gold – transferability. In a digital age, Bitcoin is sound cash that may be despatched over the web and has the potential to alter the character of cash for everybody.

In half 2 of The Bitcoin Beginners Guide, I discuss to Parker Lewis head of enterprise improvement at Unchained Capital. Parker solutions the query, what’s cash? We additionally focus on the historical past of cash and the traits of sound cash.

Beginners Guide #2: What Is Money With Parker Lewis

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15 Comments

  1. Im from Argentina. In 20 years of life ive already lived 1 hiperinflation (coming the second season in 2021 hahaha), 1 “corralito” as you perfectly said that means the goverment wont let you use or get your money from your bank account, and “cepo” wich we have rigth now that is you just simply can not have any other currency (we use US dollar a lot).
    So basically youre stuck with a currency that, in normal years have 10-15% inflation and goes up to more than 400%.
    I understood perfectly the core problems that btc solves the first time i heard about it.

  2. With Nexo you will receive 50% in fiat of your BTC collateral the next day, no credit checks. Get the paper money you need for bills yet keep your BTC!! No need to sell your BTC 🙂

  3. Bitcoin is not scarce.
    Bitcoin is FINITE⚠️
    The difference between the two is continental… get it right because this misnomer personally doesn't inspirer confidence in what you have to say.

  4. Bitcoin is the Philosopher's stone. Alchemy of the mind @ it's finest. Bitcoin turns an ordinary civilian woman & man into a formidable entity. Bitcoin is the best retirement plan along with ETC.

  5. BlockFi will rehypothecate your BTC⚠️ Do Your Own Reserch ⚠️ it'll work until it won't :/
    NYKeys☆NYBTC

  6. There are not 21million Bitcoin. Satoshi has 1mill locked for ever & 5mill @ least are gone for good. There will never be more than 15million BTC in circulation, in fact more BTC are lost everyday. 💚ETC has the same fondamentales than BTC💛

  7. Bitcoin is the bar of Gold & the 500 pallets of nickels.
    To own any Bitcoin is not like having a Suisse bank account it's like being a Suisse bank with all it's financial tools & more… Bitcoin is so much more than currency.

  8. When I take profits, I don't liquidate into stable coins that could crash; I buy Gold that might go up.

  9. That's why I move from finite to scarce back into finite… BTC highs I buy Paxos G tokens BTC lows I sell them back for more BTC… finite to scarce back into finite🕴

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