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Bank of Amsterdam (BoA)

Bank of Amsterdam (BoA)

It was created back in 1609 and thanks to the world's first joint-stock company, the Dutch East India Company (Vereenigde Oostindische Compagnie, or VOC).

The VOC was the first example of equity investors providing capital in exchange for a share of ownership in the form of a paper certificate.

As the shares increased in value, original investors wanted to realize gains by selling them for cash to new investors, and that is how the first stock market was born.

All cashiers were forced to surrender precious metal to the Bank of Amsterdam and were issued BoA deposits in return.

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1K reads

MORE IDEAS ON THIS

Forms of Money

Forms of Money

Let's see different forms of money used historicaly:

  • Seashells
  • Animal Teeth
  • Jewelry
  • Livestock
  • Iron tools

And then...

GOLD & SILVER appeared.

120

2.15K reads

A Renaissance of Money

A Renaissance of Money

Bitcoin originated back in 2008, forty-six days after the fall of Lehman Brothers. Its whitepaper was sent to a very small online community called the Cryptography Maling List.

The paper was written by Satoshi Nakamoto. The...

121

680 reads

HAL FINNEY

"Bitcoin-backed banks will solve these problems. They can work like banks did before nationalization of currency. Different banks can have different policies, some more aggressive, some more conservative. Some would be fractional reserve while others may be 100% Bitcoi...

HAL FINNEY

117

564 reads

Bretton Woods

Bretton Woods

In 1944, world leaders gathered at a hotel in Bretton Woods, New Hampshire and formalized that all currencies besides the dollar were forms of third-layer money within the dollar pyramid.

Federal Reserve notes still promised the be...

116

773 reads

HAL FINNEY

"Actually there is a very good reason for Bitcoin-backed banks to exist, issuing their own digital cash currency, reedemable for bitcoins. Bitcoin itself cannot scale to have every single financial transaction in the world be broadcast to everyone and inlcuded in the b...

HAL FINNEY

117

585 reads

Centralizd Banking

Centralizd Banking

With the emerging layered money the arise of centralized entities was a matter of time.

The first to appear and take control of the monetary system were the Bank of Amsterdam and the Bank of England.

Both entities gave unprede...

117

1.23K reads

SATOSHI NAKAMOTO

"The steady addition of a constant amount of new coins is analogous to gold miners expending resources to add goldto circulation."

SATOSHI NAKAMOTO

116

708 reads

Money

Money

Prior to the existance of Layered Money there was simply money.

Money is a tool which allows peers the exchange of goods within a consensus value.

117

2.7K reads

Federal Reserve Act

Federal Reserve Act

The Federal Reserve Act's stated the following purposes:

  • To provide for the establishment of Federal reserve banks.
  • To furnish an elastic currency.
  • Means of rediscounting commercial pap...

118

761 reads

Central Bank Digital Currencies

Central Bank Digital Currencies

The invention of Bitcoin has changed money forever and forced central banks to respond with their own iteration of cryptocurrency.

Worldwide, central banks are preparing to launch central bank digital currencies (CBDCs) as another second-la...

117

616 reads

Federal Reserve System

Federal Reserve System

Shortly after an earthquake in 1906 rocked San Francisco, the US immersed into a financial crisis.

Congress passed into law the Federal Reserve System on Decemeber 23, 1913.

The Fed was founded to combat financial crises, and it would...

118

857 reads

NIK BATHIA

"Today, our financial system is broken. It works, but the fractures within make it prone to ruptures. It almost collapsed in 2008 and again in 2020. The Federal Reserve has done its job as lender of last resort in each circumstance and kept the financial system alive, ...

NIK BATHIA

123

715 reads

J.P.MORGAN

"Gold is money. Everything else is credit."

J.P.MORGAN

129

1.02K reads

Defining Bitcoin

Defining Bitcoin

It is a completely revolutionary form of money which is characterized by being:

  • Immutable and Antifragile.
  • Secure and Trustless.
  • Transparent and Neutral.

122

726 reads

SATOSHI NAKAMOTO

"A puely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial instituton."

SATOSHI NAKAMOTO

120

774 reads

Cons of Gold & Silver Coins Usage

Cons of Gold & Silver Coins Usage

Gold & Silver Coins were a huge implementation for humanity growth & evolution. Unfortunately they had some cons:

  • Coin Multiplicy: There were too many different currencies, which was an issue to money velocity (how quickly money changes ha...

116

1.45K reads

Bank of England (BoE)

Bank of England (BoE)

The Bank of England was created in 1694 with the purpose to purchase new government bonds in an effort to rebuild the country after a crushing defeat of the English navy.

It was tasked with taking custody of precious metal,...

117

804 reads

No Gold for the People

No Gold for the People

Franklin Roosevelt issued Executive Order 6102 on April 5, 1933 which instructed all "gold coin, gold bullion, and certificates to be delivered to the government."

The order was effectively a forced sale of gold in exchange for Fed notes (c...

119

774 reads

Eliminating Gold Convertibility

Eliminating Gold Convertibility

In 1971, the United States suspended gold convertability for the dollar; the suspension was supposed to be temporary, but the dollar never returned to any linkage with the commodity.

Two years later, the modern era of free-floating currencies

115

664 reads

SATOSHI NAKAMOTO

"The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and...

SATOSHI NAKAMOTO

119

613 reads

Gold & Silver Coins

Gold & Silver Coins

Initialy, gold and silver coins were issued as a first-layer form of money. Which means that coins where backed by its own value depending of the purity of gold/silver contained.

First records of coins usage trace back to a...

117

1.52K reads

PERRY MEHRLING

"Always and everywhere, monetary systems are hierarchical."

PERRY MEHRLING

117

1.53K reads

Medici Banking Dynasty

Medici Banking Dynasty

First of all we need to see the difference between first layer & second layer money:

  • A gold coin - First Layer Money.
  • A piece of paper (bills of exchange) that says: "The Medici banking family will pay one gold coin to the ...

121

1.25K reads

Bitcoin Analogies

Bitcoin Analogies

BTC is digital gold. It's a form of money. People trust BTC because they believe it to be rare and valuable. It has a price in hundreds of different currencies. It doesn't origin...

123

607 reads

Blockchain and Bitcoin Mining

Blockchain and Bitcoin Mining

The Bitcoin blockchain most fundamentally describes a record of transactions simultaneously kept by all peers in the network. Blockchain can be understood as a Distributed & Public Ledger.

Bitcoin mining is the process of verifying new transactions to the B...

120

598 reads

CURATED FROM

CURATED BY

maxpamies

Business Administration and Management Student | Blockchain, DEFI & Web3 | Social Worker | "Fix the money & fix the world."

Understand money history and the layers that conform our monetary system, as well as the revolutionary form of money Bitcoin.

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Equity Market

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An equity market is a market in which shares of companies are issued and traded, either through exchanges or over-the-counter markets. Also known as the stock market, it is one of the most vital areas of a market economy. It gives companies access to capital to grow their business, and investors ...

Investing in Stocks

  • It means investing in common stock, which is another way to describe business ownership or business equity.
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The first generation of ballpoint pens cost around 55 shillings (£82.50/$107.50 in 2020 prices). It was in the same style as fountain pens. They were made of metal and intended to be refilled with ink. But with so many companies selling it, the market became saturated, buying ref...

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