A short Crypto 101 YouTube transcript where the speaker traces money’s evolution from barter to precious metals, coins, paper (gold-backed to fiat), and electronic payments, and presents cryptocurrency (Bitcoin) as a return to a decentralized universal money; ends with a call-to-action to subscribe and comment.
What's going on, cointelegraphers? It's Rodick Mick here with today's Crypto 101. If I will ask you when cryptocurrency appeared, you will answer that it happened around the beginning of 2010. But what if I will tell you that all the history of money was a long way to bitcoins. At the very beginning, people were swapping. But what if things had not the same value? Because did you swap a tiger for a stone? Doesn't make sense. So people decided that we needed a universal tool for payments. This value appeared. It was precious metals. We went from bartering to gold, silver, bronze, then staked coins, and later to paper money backed by gold. And now they're backed by nothing, really. And all the time, the chiefs of all the societies tried to control and distribute the wealth. First it was dukes of tribes, then kingsmen, and then essentially governments. Finally banks, who now regulate all aspects of money, from printing to distributing. In the 20th century, the world has changed. It's not been easy for governments to control money. Cash money is now used in under 10% of all transactions worldwide. Credit and debit cards replace paper money and coins. Now we see cryptocurrency. As a result of these changes, it looks like we are coming back to the Stone Ages. We're sending you back to the future, to uncontrolled swaps. But maybe that is the currency that mankind was always searching for. A universal and decentralized money. To keep learning more about the industry, make sure that you subscribe to the channel down below. And to the person who posts the best comments, we will give you a small price. So post your comments.
