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Basics_02: Monetary History & The Rise of Bitcoin
Blue Collar Bitcoin
Why Did Gold Fail?
Gold failed because it was heavy, cumbersome and manipulated by third parties. But Bitcoin has a solution for all of the problems that gold faced - including its self-cannibalizing effect on price. The difficulty adjustment is one way to control how many Bitcoins can be issued at any given time. It's just such a clever way of introducing new units or controlling the units of Bitcoin up to this fixed cap supply of 21 million.
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