#3 - What is Money

Exchange starts with barter between small groups of people, money emerges to solve coincidence of wants. Money moves us from direct exchange, good for good, to indirect exchange, good for money for good.

Which objective function does a good optimize to become money? Salability. Salability across scale (small and big transactions), space (across globe) and time (now and in the future) matter.

What is the function of money?

Unit of account

Medium of exchange

Store of value

What qualities make for good money?

Available

Divisible

Durable

Fungible

Portable

Reliable

Coincidence of wants https://en.wikipedia.org/wiki/Coincid...​

Hard currency https://en.wikipedia.org/wiki/Hard_cu...​

Fungibility https://en.wikipedia.org/wiki/Fungibi...​

Zero stroke https://en.wikipedia.org/wiki/Zero_st...