Did you miss the most important thing about BitCoin?
WHAT IS MONEY?
The majority of people don’t know what money is, and very smart programmers can just as easily be in that camp. However, if you know what money is; you can master BitCoin much faster than legions of folks who have far more technical knowledge than you. So let’s hand you that advantage as succinctly as we can, but first let’s give you what money is NOT: The vast majority of modern peoples will tell you money is based on faith — a collective agreement amongst sharing peoples to value something which has no value otherwise. They will tell you the US Dollar since the early 1970s (see: Nixon) has no asset backing it — thus is proof that money is faith-based. WRONG. A costly wrong. People who think money is based on faith; are doomed to eventually lose all their cash wealth. You won’t, because you’re here reading this and will know better…
Moneta: [Latin], plural monetas [1: see references at bottom]
- coin
2. a place where coins are made; a MINT
3. a special name for the goddess Juno. The Romans made coins at the temple of Juno Moneta, whose structure took on the abbreviated name “Moneta” — which became synonymous with Roman coinage
This is the best most-efficient definition you will ever read for money. Money is/was coins — universally-valued metal-asset objects stamped, and thus authenticated, by a trusted entity. Money’s etymological forefather, “monetas”, is also quite…
