Part 1 - What Is Money and How To Think About It
Money For the Rest of Us
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The Difference Between Public Money and Private Money
The difference between public and private money. The value of money is the trust we have in it that we accept cash, money, dollars,. Because we feel somebody else will take that, they'll accept it as money. There's a network effect. People use money that they think other people will accept. And so that's why it's so incredibly difficult to get money accepted. We need to be able to purchase goods with the same amount from one day to the next.
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