Скачать или смотреть Gold v Bitcoin: Durability Benchmark for Sound Money

Welcome back, Crypto Asset News viewers! Having completed Lessons 1 and 2, you should now understand the definition of cryptocurrency and have learned a little about the history of money to see how cryptocurrency found its place as a modern form of money.

In Lesson 3: Is Crypto Real Money? We tackle the difficult question that cryptocurrency had to face in its initial years, when very few people were convinced of its value. We explore why Bitcoin achieved success as a digital currency, leading to the development of many other types of cryptocurrency.

We'll even revisit how early cryptocurrency enthusiasts poked fun at themselves, jokingly calling Bitcoin 'magic internet money.' The concept of real money can appear deceptively simple, especially since things like beads and shells were used as money in the past.

So, what makes cryptocurrency possible, believable, and acceptable as a form of money?. We introduce a crucial economics term called 'sound money.' For any currency to be considered real or to be considered as 'sound money,' it must have several essential traits.

We demonstrate these traits using examples like gold and fiat money (like US dollars), which possess these characteristics:
1. Durable: The currency must be almost indestructible. Gold, for instance, is practically impossible to destroy.
2. Divisible: It must be able to be broken down into smaller units. You can even break down gold to grains.
3. Portable: It needs to be easy to transport. While carrying ingots of gold around is probably not easy, gold coins are fairly easy to transport.
4. Fungible: Each unit must be identical and interchangeable. An ounce of gold will always be exchangeable for an ounce of gold in any shape or form.
5. Scarce: It must be difficult to make. Gold is remarkably scarce and can only be mined in limited quantities throughout the world.
6. Accepted: It must be widely and easily accepted. The yellow precious metal has been universally accepted for centuries, bridging culture and language.

Finally, we begin to analyze Bitcoin as a cryptocurrency and see exactly how it measures up to the same sound money traits. Tune in to understand the fundamental economic validity of digital assets!

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