Barter to Bitcoin and the Future

This was originally published on shivendramisra.com/blog

“All money is a matter of belief” — Adam Smith

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Fiat Currency enters

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A Quest to Find a New Form Of Money

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Left: David Chaum, Right:Wei Dai
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Left: Nick Szabo, Right: Dorian Nakamoto

“I do sense that the financial system is under the gun. In order to keep our system and economies moving globally, there’s the need to create new money” — Henry Kaufman, President of Henry Kaufman & Co.

Satoshi’s Gift

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“The reason we’re all here is that the current financial system is outdated” — Charlie Shrem, BitAngel, BitPay, Bitcoin Foundation

Can Bitcoin Replace Fiat?

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But, why is bitcoin so volatile?

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Conclusion

“The financial system has been turned over to the Federal Board. The Board administers the financial system by authority of a purely profiteering group. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money” — Charles August Lindbergh, ex-U.S Congressman

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