The Pre-Bitcoin History You Should Know: Basic Cash Versus Fiduciary Media
— Money, Silver, Basic, Prebitcoin, Versus, History, Media, Fiduciary, Base, Billion, Checks, Gold, Cash, Know, Bitcoin — 1 min read
Matthew Mezinskis, creator of the “Crypto Voices” podcast and Porkopolis Economics, explains what type of “money” Bitcoin is. He says the field of economics already has a category, a systemized classification, for what kind of money Bitcoin is and what it does. Mezinsinsis: Basic cash is not any medium of exchange that is controlled or issued by a third party. The British and American systems have long been fans of paper checks, but checks once served a vital function in payments, and were instrumental in the growth of western economies. Source