A Brief History of Money and Bitcoin with Brian Estes (WiM172)
The "What is Money?" Show
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What Is Money?
We started out with kind of prehistoric tools for satisfying this function. We got to gold and silver, and now we've gone away from that. In the eleventh century, the chinese invented paper money. That was new technology a thousand years ago. And then y and then it's 560 years ago, the medici family started using what's called double entry bookkeeping on which created the ledger. The added twist is that it's distributed, and it's up dated every ten minutes. So it's a decentralized ledger that uses the power of the inner nut. You know, it's not a yunow, it's anything like super special where we're inventing like fire.
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