Topic: "We need to think deeply about the economic function of money" - page 2. (Read 288 times)

Don Pedro Dinero

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I think bitcoin was the result of some people deeply thinking about the economic function of money.

Quote from: EvaGC on February 23, 2018, 08:24:47 AM

«... No currency, in particular no fiat currency, has survived the test of time over the very long term.»

That’s why bitcoin has a cap of 21 million, as a way to prevent to prevent devaluation. The cap is actually going to have to opposite effect (as long as bitcoin keeps becoming more adopted): as time goes by, the value keeps increasing as it is a scarce good.

EvaGC

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«To successfully manage wealth over the long term, we need to think deeply about the economic function of money, particularly as a store of value but also as a medium of payment and a unit of account. We also need to adopt a more holistic approach to risk, heeding the lessons of economic history: No currency, in particular no fiat currency, has survived the test of time over the very long term.»

Read more: https://medium.com/@globcoin_io/currency-baskets-for-wealth-management-7af7de07a3b4

These are quotes from the study “Overcoming the Notion of a Single Reference Currency: A Currency Basket Approach” written by Helie d’Hautefort and Giuseppe Ballocchi; published by the CFA Institue Research Foundation

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