Tag: bitcoin

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Economics Technology

Bitcoin Halving & Block Subsidy

Bitcoin Halving is a phenomenon or a certain point in time in Bitcoin protocol where the block subsidy is cut in exact half of what it was before that phenomenon. This rule was written in the Bitcoin code as a way to gradually and consistently issue the amount of BTC over time. The issuance of new BTC begins at a fixed rate and gradually reduces until the total distribution of the coin reaches 21,000,000. The code defines when this halving phenomenon occurs and how the Block Subsidy is calculated and distributed to the miner.

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Economics History

Value Exchange

Human civilization has come a long way to be well-organized and operate seamlessly in the society. One of the most challenging problem for humans, was to exchange the value with one another. People bartered before they began using money which was inconvenient to do. Money is a concept which made them easy to trade their products and services. Money is one of the most advanced tools engineered by humans to carry out value exchange for thousands of years. The oldest known coin minting site was in China which began using coins around 640 BC. Since then, humans have been constantly improving and changing the shape and system of money. The new form of digital money is being built and accepted as the new form of money for value exchange as you’re reading this.

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Economics Finance Technology

中央銀行デジタル通貨

日本は2024年上半期に1000円、5000円と10000円札の新紙幣を発行する予定となっている。なぜ国は頻繁に紙幣を交換するのだろうか？ 約20年ごとに行われているこの交換に様々な理由がある。その内の一つが偽造を防ぐためだとされている。世界はデジタル通貨の発行に向かって急速に進んでいるが、日本は新しい紙幣を印刷しようとしている。これは、日本人の多くがいまだに紙幣を使用して貯蓄することを好むからだ。しかし、若い世代はクレジットカード決済、QR決済システムやオンライン・バンキング/ネット・バンキングを利用するようになってきている。今回の紙幣の刷新のタイミングは、一見政府も十分に考慮されてないように思えるが、とにかく一筋縄ではない感じが漂っている。

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Categories
Economics History

Layered Money

This book explores the evolution and functioning of money throughout history and around the globe. Author writes about the concept of layered money, which refers to the different forms and levels of money that exist in modern economies. Basically, this provides an intuitive model view of the history, evolution, current state and future of money. As we know gold has been used for thousands of years but civilization found it hard to divide and carry around so they created various layers of money like IOUs issued by the banks with gold on deposit.

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Economics

The Bitcoin Standard

This book is written by Saifedean Ammous. I highly recommend this book to those who are interested in finance and technology. This does not contain all the technical details of Bitcoin but you can grasp its current state and the economic impact it will have on our lives. This book explores the history of money, the flaws of the current financial system, and suggests the potential of Bitcoin as a decentralized alternative to central banking. Bitcoin has the potential and is very much likely to become the new global standard of money, which is free from government control and its inflationary policies.

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