How Bitcoin was created?
Bitcoin is considered to be the currency of the future together with other altcoins. So why is that?
In order to figure it out we need to examine money evolution through ages.
Fasten your belts, we are going back to the future!

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9 COMMENTS

  1. TL;DR Read Debt the first 5000 years; barter is not an actual thing that has ever been used by society.

    You should read David Graeber's book Debt the First 5000 Years if you want to know the real history of money, debt and economics across human history. In his research he found that no society ever used barter; it is a myth made up by modern economists. In the earliest societies people borrowed and lent to each other and kept it in a ledger almost like an IOU system. In some places these IOUs could be traded so that if Person A borrowed something from Person B, Person B could then use that IOU to get something from Person C, there were no direct exchange of goods. Then people began to value things based on a third item such as cattle, gold or silver, although few trades actually occurred in cattle, gold or silver, they were still written down on a ledger of debts. The origin of coinage came about in the Axial Age when governments needed a way to fund wars. They created coins with which they paid their soldiers, and then demanded that taxes be paid in their coin, thus merchants had to sell their goods for coins, which actually created markets where there were no markets to begin with. Anyway read the book it is really great and will give an interesting perspective on modern economics and the place of Bitcoin today.

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