So, we've been putting off a kind of basic question here. What is money? What is currency? How are the two different. Well, not to give away too much, but money has a few basic functions. It acts as a store of value, a medium of exchange, and as a unit of account. Money isn't just bills and coins. It can be anything that meets these three criteria. In US prisons, apparently, pouches of Mackerel are currency. Yes, mackerel the fish. Paper and coins work as money because they're backed by the government, which is an advantage over mackerel. So, once you've got money, you need finance. We'll talk about borrowing, lending, interest, and stocks and bonds. Also, this episode features a giant zucchini, which Adriene grew in her garden. So that's cool.
Special thanks to Dave Hunt for permission to use his PiPhone video. this guy really did make an artisanal smartphone! https://www.youtube.com/watch?v=8eaiNsFhtI8
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The world will not crash when ask and receive is used. People need to be disguised with money. Money came from Satan's prison not God's mind. Kill - annihilate money. It is a destructive beast that is addictive.
Money is just a convenient system of barter exchange accounting.
When you buy crypto who exactly gets your money?
“Don’t worry Tommy my boy. As long as we Americans can buy ale with it paper money will work out just fine.” – Ben Franklin
Invest in assets or capital??
Earnings belong to the shareholders?? haha
The famous, 20th century, philosopher Joseph Campbell said money is congealed energy. We place a spiritual (mental) value in it, and at the root of the U.S. economy is energy. Our entire economy is based upon faith, that is believing that the energy in a dollar bill will do something for us: This is like money is a god and we believe in it; hence, "In God We Trust" on our U.S. money. This also has a implication that money is debt, where we are owed something, and rich people accumulate debt and this is different from actual value like real property.
Unfortunately, this missed a couple of key facts about money. There are three types Currency (cash), Bank reserves (controlled by central bank - FED or BoE) - consumers never see this and finally, Commercial Bank created Money when it lends. (See BoE, and search for "Money creation in the modern economy"). The latter tends to cause the problems in the financial system when it gets out of hand. It also means that the central bank does not have full control on the quantity of money. Banks do perform an intermediary role, however, they do also create and destroy bank money (create when a loan is created, swipe your credit card! and destroy when loan is repaid, pay your credit card bill from deposited money).
@CrashCourse I keep getting the advertise of a company called mobilink-coin whenever I watch your econ videos, I did some research on it because it looks like a pretty good deal but it turns out it is a SCAM! I tried to report their videos to youtube, report their ads to AdSense and I have no idea what else I can do, the advertisement keeps coming up and everytime I check and they have more and more subscribers, people are buying it and I feel so useless, I try to warn ppl on their channel but they just delete my comments. Can you help in any way?! There are probably lots of people seeing it because of this series! I almost fell on their trap myself!
There is no "Nobel prize of economics" but a private prize organized by a swedish bank in memory of Nobel which is not related to the Nobel Peace prize, for instance. It's odd to find this common mistake in such a quality channel
If application owners opt to adopt a freemium or advertisement-based model, these services could be made free to users.
Telegram will distribute Grams following the launch of its TON main network in Q4 2018, and the implementation of its light wallet client.
The development roadmap for the TON blockchain is outlined below.
If it succeeds, the ICO will be the biggest ever by a factor of five.
Telegram will the release Grams to network participants at a later stage.
The funds raised by the token sale will be used for the development of TON, said the company.
Services for decentralized apps, smart contracts, and decentralized web browsing experiences Distributed file storage akin to services like Dropcoin and ICO company Filecoin A proxy service for creating decentralized VPN services and TOR-like secure browsing environments based on the blockchain Payments for micropayments and peer-to-peer transactions.
There are also reports that going further, Telegram will also integrate a feature of a cryptocurrency powered payment system. This system will allow transferring funds quite securely due to the app encryption provided by blockchain technology. Moreover, users will also be able to bypass the remittance fees for transferring of funds across global borders and make micropayments, which otherwise would incur a huge credit card fees.
Blockchain technology from Telegram messenger. TON can be regarded as a decentralized supercomputer and value transfer system.
The following components are scheduled to be released after the TON Blockchain core and will further increase the potential uses of the TON infrastructure.
TON Storage is a distributed file-storage technology, accessible through the TON P2P Network and available for storing arbitrary files, with torrent-like access technology and smart contracts used to enforce availability.