"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 transfer it electronicaly, but they lend it out in waves of credit bubbles with barely a fraction in reserve."
218
938 reads
CURATED FROM
IDEAS CURATED BY
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.
“
The idea is part of this collection:
Learn more about crypto with this collection
How to manage risk
How to analyze investment opportunities
The importance of long-term planning
Related collections
Similar ideas to SATOSHI NAKAMOTO
Banks loan money they don't have. Most hold a limited reserve to serve the few who decide to make redraws. When the majority decides to liquidate their bank accounts we have what is called a bank run.
In order to protect the banks, central banks were created to provide a gu...
Bitcoin started on Jan. 3, 2009, when a hacker or group of hackers - working under the name Satoshi Nakamoto - released an ingenious string of computer code that created a system allowing people to transfer money to one another online and directly, without revealing their identity and out...
A central bank digital currency (CBDC) uses a digital token to represent the virtual form of a fiat currenc...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates