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    Summary of Paul Vigna & Michael J. Casey's The Age of Cryptocurrency
    Summary of Paul Vigna & Michael J. Casey's The Age of Cryptocurrency
    Summary of Paul Vigna & Michael J. Casey's The Age of Cryptocurrency
    Ebook58 pages30 minutes

    Summary of Paul Vigna & Michael J. Casey's The Age of Cryptocurrency

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    Get the Summary of Paul Vigna & Michael J. Casey's The Age of Cryptocurrency in 20 minutes. Please note: This is a summary & not the original book. Original book introduction: In THE AGE OF CRYPTOCURRENCY, Wall Street journalists Paul Vigna and Michael J. Casey deliver the definitive answer to this question. Cybermoney is poised to launch a revolution, one that could entirely re-invent traditional financial and social structures while bringing the world's billions of "unbanked" individuals into a new global economy. Cryptocurrency represents the promise of a financial system without a middleman, one owned by the people who use it and one safeguarded from the devastation of a 2008-type crash.

    LanguageEnglish
    PublisherIRB Media
    Release dateNov 30, 2021
    ISBN9781638159810
    Summary of Paul Vigna & Michael J. Casey's The Age of Cryptocurrency
    Author

    IRB Media

    With IRB books, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

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      Book preview

      Summary of Paul Vigna & Michael J. Casey's The Age of Cryptocurrency - IRB Media

      Insights on Paul Vigna and Michael J. Casey's The Age of Cryptocurrency

      Contents

      Insights from Chapter 1

      Insights from Chapter 2

      Insights from Chapter 3

      Insights from Chapter 4

      Insights from Chapter 5

      Insights from Chapter 6

      Insights from Chapter 7

      Insights from Chapter 8

      Insights from Chapter 9

      Insights from Chapter 10

      Insights from Chapter 11

      Insights from Chapter 1

      #1

      Money is a system of exchange that has been adopted by society to efficiently measure and value goods and services. It has also been used to measure and value human lives.

      #2

      When people don’t have faith in a country’s currency, they will often sell that currency in favor of something they believe is more trustworthy, such as the U. S. dollar, gold, or another currency. This is why many countries have suffered from hyperinflation.

      #3

      The author had a difficult time getting his money out of Argentina after the country went through yet another financial crisis. He had to use a casa de cambio, a currency exchange house, to convert his dollars to pesos.

      #4

      The author was invited to visit Argentina by a friend who wanted to buy property there. He was told by the person he was meeting with that all would be fine since the property was being bought with a contract, which would guarantee its legitimacy.

      #5

      The author was supposed to meet a representative from a foreign exchange house the next day, who would exchange his dollars for pesos and then deposit the money in his account. He was astonished to discover that the money had already been deposited.

      #6

      Money is essentially a system of trust. People must have trust in the money system in order to use it. Cryptocurrency, on the other hand, is marketed as a trustless system of money because it is based on mathematics instead of humans.

      #7

      Money, as an abstract concept, has been instrumental in the development of civilization. However, our minds still think in terms of material objects.

      #8

      The dollar bill is a perfect example of a material object with no intrinsic value. Its value depends entirely on society’s agreement that a dollar is worth a certain amount of goods and services.

      #9

      The gold standard is a monetary system based on gold, in which the value of a dollar is based on an ounce of gold. However, this does not mean that gold has intrinsic value.

      #10

      The debate over money goes back to the ancient times, when people

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