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28min chapter
Discussing Lessons on Monetary Evolution with Femi Longe (WiM442)
The "What is Money?" Show
The Evolution of Money: From Scarcity to Utility
This chapter delves into the evolution of money, starting with the concept of commodity scarcity and its relation to the value of money. It discusses the historical significance of gold as money, its transition to a medium of exchange, and the emergence of banking to centralize gold custody. The conversation also explores Bitcoin as a modern alternative, highlighting its portability, resistance to centralization, and potential benefits of treating it as a currency for everyday transactions.
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