What is money? Is it gold? Is it is bank notes? Is it even real?
Throughout time currency has taken the form of salt, stone and gold coins eventually leading up to what we now recognise today as an stablished currency. Although constantly evolving in form, it has always represented our global perception of worth and acts as an intermediary for exchange as a globally recognised store of value. For more info on how it. has evolved, checkout the video at the end of this blog by OpenLearn. But what guarantees its robustness and measure of worth? With its evolution overtime, how can we be sure that it has reached its final form? Surely it is naive depend on our current currency to stick around forever and close out minds to the possibility of another evolution in finance. We must question what can hold worth, and ask ourselves what is in store for the future of money?
The issue with paper money despite being regulated and controlled, it can be reprinted and loose value with inflation. Credit and other non-physical stores of cash can be hacked, and also loses value with inflation. This is where bitcoin is differentiated. It is in categorical limited supply, it is a digitised, decentralised (no one owns or controls price) store of worth. Arguably it is still subject to a degree of bad behaviour, but nobody can print it or manipulate it.
No one can guarantee what the future will hold, however it is up to each of us to prepare for it. Money is simply worth what we believe it is worth, so we must choose to invest in what we believe to be the strongest, most robust hold of worth.
I look forward to your future engagement with me on my blogging journey, please feel free to drop a comment below and stay tuned for my updates!
Fantastic article! Can I suggest you do one on the cyber security issues involved in Bitcoin as it is a very interesting topic. Looking forward to future blog posts, thanks for writing.
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