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Bitcoin News | Fintech Zoom

18 May Bitcoin News | Fintech Zoom

Posted at 16:31h in Bitcoin News by

Physical Properties of Currency

  • Divisible: A currency must be divisible so that units of its value can be paid to match the value of your purchase. Bitcoin News.

  • Scarce: Money has to be sufficiently rare. If the medium of the currency is easily obtainable or reproducible, it will have little
    worth and be easily counterfeited.

  • Portable: For a currency to be convenient, it must be portable.

  • Uniform: Every unit of a currency must be equal in value. Diamonds are not fungible because there are other properties of a diamond that makes it worth more or less than any other diamond.

  • Durable: Money must not have a property that allows it to decay over time. Any perishable items are a good example of this: Apples, Spices, Tea, Milk, etc.

  • Acceptable: Trusted and accepted by all.

 

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Currency? Payment System?
1 Trust Trust
2 No counterfeiting Verification of ownership
Verification of transaction
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