What Is Money And Where Does It Come From

What Is Money And Where Does It Come From

Have you ever wondered how money is created, or even what is money?

Some people such as economist point out the differences between money and currency. But for the average person, they are the same.

There are many forms of money. Gold and silver have been considered money for most of human history. But over the last 100 years we have seen a rise in fiat currencies. These currencies begin as worthless paper and governments dictate the value. People must agree to it’s value and use it as a means of exchange.

Cryptocurrencies and money built with blockchain technology will consume¬†the next phase of money. People want control of their assets and they don’t want governments printing more money at random and inflating their currency.

Good money tends to have attributes like wide acceptance, being fungible, being divisible, good at holding value, and easily transportable.

Check out this episode of the True Liberty Podcast.

Watch to learn about money, Bitcoin, fiat notes, and modern systems of central banking (and why decentralized banking is the future)

About The True Liberty Podcast

Why

The world today is broken. There is poverty, suffering, violence, and enslavement. These conditions are not the proper state of the world, nor are they necessary. This world is a reflection of the people within it; people who do not understand Truth, people who are not Free.

How

An answer without a question is a solution without a problem. The world is full of people arguing about answers, but not understanding the questions. One cannot be Free without knowing the Truth, and one cannot learn the Truth without asking questions. One cannot ask questions when one believes he already knows the answer.

What

A better world is possible. A world of Free people, people who seek the Truth. This is the world we wish to create; this is the world in which we want to live. We know it is possible, but we cannot build it alone, for as one suffers, all suffer. By asking questions, and inviting others to ask them with us, together we will learn the Truth, and the Truth will set us Free.

Who

The Co-Founders of True Liberty are Adam Ernest, Nathan Hourt, and Will Long. Read their stories on the True Liberty Blog.

 

Bitcoin Recognized As Currency In Japan

Bitcoin Recognized As Currency In Japan

As of April 2017, Bitcoin is now recognized as an official currency in Japan. The change is due to a new law which categorizes the cryptocurrency as a legal payment option.

The Good Part

New money will be flowing into the global cryptocurrency ecosystem. In this regard the recognition of Bitcoin as money is a good thing. As adoption increases, demand for Bitcoin will drive the price up. Early adopters of bitcoin will see great returns on their investment.

From newsbtc.com:

“The new developments are expected to drive the cryptocurrency usage in Japan to over $9 billion in the next three years (2020), which is more than five times the 2015‚Äôs $1.7 billion worth of cryptocurrencies in circulation.”

 

The Bad Part

Because Bitcoin is now recognized as legal tender in Japan, the government will step in and begin to try and regulate the currency and businesses that operate with Bitcoin.

The new law has big implications for cryptocurrency exchanges, as they will come under heavy regulatory scrutiny.

Businesses that use Bitcoin will have to deal with strict anti-money laundering requirements in addition to know your customer stipulations and annual audits.

THIS IS NOT GOOD.

Bitcoin is a decentralized currency with no central authority. The digital currency is a means to escape the regulatory harassment of governments, that only slow innovation and kill productivity.

Bitcoin Is For Free People

Bitcoin is a currency for free people. Free people know and realize that governments are simply large cartels with no real authority. They magically make new laws, that benefit themselves at the cost of their citizens.

Governments will always try to take a cut of your profit, even when you do not consent. Digital currencies built with blockchain technology prevent this.

But Blockchains provide transparency, right?

Yes blockchains are transparent and allow anyone to see the transactions. Governments may track and record Bitcoin transactions all day long, but they can’t steal your account like they can with a traditional bank account that holds fiat currency.

With Bitcoin you are in control. If you do not wish to send someone money, you don’t have to. You hold the private keys.

It will be interesting to see what governments do when they learn this. They still don’t understand blockchain technology, and will likely never fully comprehend the tech as they will always be looking for a way to control the entire currency system.

And with Bitcoin, it is almost impossible, as it is decentralized or distributed. The only way would be to take over the mining network with at least 51% of the total hashrate. At that point the attacking entity could control the public ledger. In reality, they could only deny new transactions and reverse new transactions. The blockchain history is still immutable.  The majority controller in this situation would still not be able to reverse transactions from years ago, steal coins from wallets, or creat new bitcoins.

EXODUS Bitcoin Wallet Review

EXODUS Bitcoin Wallet Review

In order to obtain and store digital currency, you will need a wallet. For this post we will focus on a popular desktop wallet application for storing multiple types of cryptocurrency. Here is our EXODUS Bitcoin Wallet Review:

In layman’s term a wallet is simply¬†software program that can communicate with a blockchain. It¬†must have unique addresses to¬†receive and send cryptocurrency (virtual tokens).

The Exodus Wallet Fully supports Bitcoin, Ethereum, Dash, Litecoin, and Dogecoin. It is rumored that they will soon support Factoids, the digital token for Factom (a project that stores digital records on the blockchain).

Exodus is rated quite well on CryptoCompare. It currently has a 4.8 out of 5 rating. 

We prefer Exodus because of the beautiful user interface, private key control, and multi asset support.

Built In Exchange

The Exodus wallet leverages the ShapeShift digital currency exchange. It is conveniently built into the wallet.

No longer do you have to risk keeping your funds on an exchange. You can get great exchange rates from within the wallet.

Full Control Of Private Keys

“Exodus encrypts private keys and transaction data locally for your eyes only – no accounts, no servers, no data sharing.”

Additionally you can easily keep your wallet safe and backed up with the Exodus backup wizard.

Exodus Bitcoin Wallet Review Video:

 

Download & Start Using The Exodus Wallet.

How To Purchase Bitcoin With Coinbase

How To Purchase Bitcoin With Coinbase

In this post, we will show you exactly how to purchase Bitcoin with Coinbase.

TL/DR [Too Long, Didn’t Read]

  1. Go to Coinbase.com
  2. Signup and create a digital currency wallet.
  3. Connect your bank account, debit card, or credit card.
  4. Purchase either Bitcoin or Ethereum, easily and securely.

 

About Coinbase:

Coinbase is a reputable digital currency platform. Founded in 2012, the company is currently based out of San Francisco, California.

Coinbase is well known for allowing people to buy Bitcoin, but as of 2017 Coinbase fully supports Ethereum. This is great news, as the company has announced that they want to support even more cryptocurrencies in the future.

Is It Secure?

Yes Coinbase is secure. It is worth noting that the majority of their digital assets are in secure offline storage.

Coinbase technically holds the digital assets for you. If you want complete control of your digital currency tokens. We suggest the more advanced Exodus Wallet.

Coinbase also offers wallets for Android and iPhones. This allows you to access your account securely from different devices, which can be handy. Coinbase utilizes the authy app to complete 2-factor verification.

Customers of Coinbase can be at ease. All the digital currency stored on Coinbase servers is covered by an insurance policy.

 

Several members of the Bitcoin Shirtz team use Coinbase. We have yet to have an issue with the Coinbase platform / company. And we don’t expect to.

 

Video Tutorial:

Start Using Bitcoin With Coinbase Today!