Learn more about with this collection
How to develop a healthy relationship with money
How to create a budget
The impact of emotions on financial decisions
Currency
These are the simplest coins. They’re programmable money. They’re looking to become a medium of exchange for goods and services. Either that or they’re a store of value like gold or silver. Some are deflationary, some inflationary. Some are meant to move fast and others are meant to hold so you can buy things with it later.
The granddaddy of them all is Bitcoin.
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MORE IDEAS ON THIS
The Amazon of Tomorrow
Cryptocurrencies give you the chance to do what venture capitalists do. Up until now, it’s been the exclusive right of people with lots and lots of money to invest in early-stage companies. But now it’s the little guy’s turn too.
The statistics on companies that succeed or fail in a venture...
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Utility Coins
The problem with most utility coins is they have no utility.
You’re supposed to use these coins to consume services like identity lookups or decentralized DNS lookups but there is no platform to use these coins yet, so they’re some of the riskiest because they have to survive long enough to...
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The Contenders
Right now coins are starting to split up into three major categories:
- Currency
- Platform
- Utility
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Platforms
Platform coins are looking to do things that are the sole domain of servers and clouds right now. They want to power decentralized applications, run smart contracts as law and power everything from identities to storage to voting.
The platforms have the longest way to go. They have to solve...
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Gold, psychology, and society
If the modern paper-money economy were to collapse, we would fall back to gold.
- People need to find ways of working together, which leads us to find ways of exchanging goods and services.
- Gold is the logical choice of this exchange as it is one of the only substances on eart...
Gold as a method of exchange
In the old days, a coin of some metal was easier to exchange than to implement a barter system. Of all the metals, gold was the logical choice.
- Metals like iron, lead, copper, and aluminium are prone to corrode over time.
- The "noble...
On putting eggs in one basket
One of the more popular uses of Bitcoin is as a gold-like store of value over the long-run. Claims that Bitcoin may someday be valued as high as $100,000 per coin are based on this idea of the coin as "digital gold."
However, a number of studies have suggested that
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