Video Description
"The telegraph could carry your payment instructions across a continent, but it couldn't carry your gold. To pay at the speed of the message, you had to trust somebody else's books."
Why was fiat better than physical gold at moving through a network? On this Outside Money from Amsterdam, Cory Klippsten follows bank money from the Wisselbank in 1609 to Bitcoin in 2009, the 148-year gap between a wire that could carry a payment instruction and a network that can carry the asset itself.
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Running the books let banks extend credit far beyond the gold available for redemption,...
đ Why This Matters
This video from Swan Bitcoin provides insights into the latest cryptocurrency developments. Stay informed about BITCOIN market movements, technical analysis, and breaking news from trusted sources in the crypto community.
đĄ What You Should Know
About This Source: Youtube Swan Signal is tracked by Crypto-Headlines to provide you with timely updates from trusted voices in the cryptocurrency community.
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