Money
When the money supply is increased.
What is monetary inflation?
An institution which holds one's money and provides various services, such as payments.
What is a bank?
What is a Quokka?
A trustless system for making direct payments.
What is the Bitcoin System?
Because it allows them to avoid the problems of bartering.
Why do people use money?
When prices increase due to monetary inflation.
What is price inflation?
This is when you pay someone through a bank or other third party.
What is Indirect Payment?
This has been recognized as money for thousands of years.
What is gold?
What are direct payments?
Salt, tobacco, wheat, sea shells, silver, gold, and paper currencies.
What things have been used as money?
Goods that are scarce always have this.
What is a price?
Banks use this to keep track of who has how much money.
What is a list?
Always an important factor in business and life.
What is Time?
A single list of who owns which bitcoins.
What is a block?
Usability, Long-term Value, and Widespread Acceptance.
What properties do we like in money?
Every one in history has been devalued, some completely destroyed.
What is paper (or fiat) money?
This institution controls the central banking system.
What is the government?
This where people securely store their private keys and the amount of bitcoin they own.
What is a Wallet?
What is the block chain?