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The history of money until ... Bitcoin Cash

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Written by   792
5 months ago

However, before digressing further on the topic, it is necessary to first understand what money really is, because then we will understand why it is so important for modern societies.

What is money

Money_ is the medium used to exchange goods, can be in coins or notes used for the purchase of goods and payment for services that come from the labor force, whether in foreign currencies or in financial transactions that take place in the market, the money is controlled by the government of each country that has the function of issuing according to the needs of society and is the only one that has this task on its emission.

The use of government money may be of implicit, explicit, free or coercive use, that is, the citizen may be required to use this to reserve value.

A relatively curious fact is that the money does not (implicitly) depend on a central or governmental authority, but on the market needs, but the most accepted and frequent one is that issued by the central governmental authority. Most countries in the world have their money recognized locally or internationally and only they can issue this money, but we also have currencies such as the US dollar (USD) and the Euro (produced by the European bank) that are also used in the general world. Make no mistake, money does not have to be in the form of banknotes and coins issued by the state, but there are also other forms of value such as metals, rare shells, precious stones, cigarettes or even relatively superficial things that have the buying and selling power in the market. This is because what society is looking for is a means of circumventing the scarcity of circulating value, opening up an opportunity for the creation of emergency money, currently cryptocurrencies work very well here as they fight inflation and produce value in the market, have the purchasing power and sales and demand is relatively high.

It is important to keep in mind that the most used form of money in the world is the banknotes and coins issued by central banks, but gold and silver (metals) also retain many of the outstanding characteristics of money, however, in recent times these forms of money are practically impractical and very expensive to handle which makes them unused. What society is really looking for are simplified forms of money and practices of use taking into account the cost, value, production or whatever the lower its usage charge, the better for society.

But where does the money come from

Money goes back to several centuries ago, when primitive man still lived in caves and harvested wild fruits, hunting or fishing and with the passage of time and the acquisition of superior intelligence, these same primitive men noticed the need to have a better comfort and look at your neighbor, so the need for trade arises. It was with the beginning of these commercial exchanges that, lasted several centuries, where man began to have returns to what he called "wages" (often paid in products such as salt, cattle, porcelain in African territories and much more).

The appearance of the first coins, as we know them today, had their appearance in Turkey, called Lydia in times past, and they were generally made of minted metal which was a type of money for which the hammer worked as a stamp on the large plates of molten metal. recorded in the 7th century B.C (Before Christ). These monetary values ​​had an impact on the value of the transaction by checking the metal used in the exchange, that is, gold and silver.

With the emergence of money, banks also appeared, this because it was also necessary to protect these large metals, but before that there was a need to use lighter metals for commercial transactions, many of which were chosen for their beauty and cultural expression and also represented their commercial value. These same choices of metals for the beauty and cultural value of metals also influenced the power of societies and their wealth.

Banks emerge as a need to keep these same coins (metals minted with a hammer, which were gold and silver and certain metals chosen for their shape like bronze, copper ...) where they were kept by guards and with the responsibility exercised by the security given to negotiators of gold and silver. These gentlemen thus become the first bankers of mankind!

As a form of proof of gold custody in their banks, gold and silver negotiators attributed receipts to their clients, the "goldsmith's notes" and over time they have been used as a form of payment to their holders, much because they are more than using cash (gold and silver). These receipts gave rise to the first paper notes "paper money from the bank" and gold and paper traders evolved into the first banking institutions.

The first Banks

History says that the first official banks first appeared in Sweden in 1656, in England in 1694, in France in 1700 and in Brazil in 1808. Of course, there were many more banking institutions in the world, but you are mentioned above, they were pioneers in the industry and started to the world banking system. The word Bank comes from the Italian "bank", which were the banks where value traders from Italy operated their businesses in London's public squares.

Bitcoin Cash as money evolution

"In the twenty one century surges the world of cryptocurrencies, in which many of them entered the market to serve as digital money but failed to deliver, some because the fundamentals behind others because aren't accepted by vendors and merchants, high fees lower transactions turn down the desires of the people who are willing to use and embrace them (the majority of the planet) but not all of them are cursed to fail, no not at all".

Nowadays many of us do not know this story behind money simply referring to recent facts, facts that do not help to understand why there is a need to have a form of digital money not controlled by the state, where the user is bank itself and with its value can influence the buying and selling power in the market without its funds losing value. For those who do not know, money had to be scarce, that is, it had to have a finite supply in which it should not be printed anymore, but in reality it does not.

This folly in the printing of government money causes inflation to recur and directly affects the peaceful citizen who depends on this same money, controlled and issued by the State and which often only damages his way of life.

From the evolution of ancient times until today one thing has become clear, money is important for the balance of human societies living in it, but it has also become clear that the government is not the only one that can make this, even though it is the only one that do this other forms of money can also be issued in a decentralized manner, such as Bitcoin Cash.

Bitcoin Cash is the evolution of money in its form of digital money where everyone is a part of without excluding anyone, BCH fights inflation by fighting against the devaluation of money in the square and ensuring that transactions made on its network are safe and cheap valuing the user and giving more than sufficient reasons for the increasing use of the same technology. Today Bitcoin Cash is what the primitive man longed for in the past a way of exchanging values ​​with his fellow man in which each party could have a "salary" and could maintain their lifestyle. We are still in the genesis phase and in 2050/60 other forms attached to Bitcoin Cash will be so evolved that our children/grandchildren will be happy to say "this all started with our ancestors".

Bitcoin Cash is the better form of decentralized money for the world.

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Written by   792
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