Re:You don't understand money – and it's a good thing for Bi...
by nabla9 on Friday November 15, 2019 @01:48AM
(#21542832)
While this article don't cover everything, it acknowledges the complexity and that money is many things. Starting from coins and going towards things called 'money like'. And the author seems to know that not all bank lending is part of fractional reserve system.
Related to bitcoin one of the most critical and important aspects of fiat money from central banks is the liquidity. Liquidity means that money is available in price that does not fluctuate too much from day to day or month to month. Central banks are lenders of the last resort. Money should be boring and predictable, not exiting like Bitcoin. One of the definitions of money is 'most liquid asset'. If cryptocurrency can't do that, it can't replace money in daily business.
Related to bitcoin one of the most critical and important aspects of fiat money from central banks is the liquidity. Liquidity means that money is available in price that does not fluctuate too much from day to day or month to month. Central banks are lenders of the last resort. Money should be boring and predictable, not exiting like Bitcoin. One of the definitions of money is 'most liquid asset'. If cryptocurrency can't do that, it can't replace money in daily business.