Long before we used paper money, people used many different objects as money.
One of the defining characteristics of money throughout the centuries has been the difficulty of making money. Different societies used different objectives as a means of exchange, but all of them with one key foundational characteristic – they were hard to get, make, or re-create.
Money that is hard to make keeps its value.
When governments started making paper money, they used gold that represented the paper money since it is rare and hard to mine. However, in time, governments got greedy and instead of making the same paper money as gold, they just started printing new money out of thin air.
Over the decades, the value of money has reduced drastically.
Check out the video below that breaks down how Bitcoin came to be and why it is the hardest money around.
Why Money Should Be Hard to Make #Bitcoin pic.twitter.com/qqxj2j8UID
— BitKE (@BitcoinKE) May 5, 2024
