After some recent research I ran into some facts about some of the terminology we regularly use that I thought were very interesting. Now maybe I’m just a bit behind the curve but this was news to me….
According to invesopedia,
Currency can be defined as the following- an asset that maintains the following properties: a medium of exchange, a unit of account, portable, fungible, divisible and durable.
No surprises there
However the defition of money is as follows:
Money is a currency (has all the above features) but also acts as a STORE OF VALUE.
Money is a form of currency. But currency ain’t no money.
Huh fancy that…. So really btc should fall into cryptomoney, not cryptocurrency. But I guess it doesn’t have that ring to it.
Never again will I consider fiat as money.
“You owe me some money for that burrito, but If you don’t have sats I suppose ill take some currency”
Let me know if this is news to you or I’m just an idiot
Source: https://www.investopedia.com/terms/m/money.asp
That’s right! I learned that from Mike Maloney’s YouTube series (highly recommended, even though it’s a gold bug show, it pathed the way to my orange pilling)
Gold has always been money but fiat these days are just currency and it’s sad that people can no longer tell the difference (probably the result of some deliberate education over many decades)
https://youtu.be/DyV0OfU3-FU
(And we can see the younger Max Keiser in the first episode). To me, to become a bitcoiner, these 7 or 8 episodes are the prerequisite)
Learn where a term is being used. If it’s in a contract, it should show the definition. If it’s in law, there must be a cite or it doesn’t exist.
If it’s in The News, the term means … whatever …
i can’t tell if you’re being sarcastic, or really don’t know wtf you’re talking about