Summary of Antony Lewis's The Basics of Bitcoins and Blockchains
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Summary of Antony Lewis's The Basics of Bitcoins and Blockchains
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Narrated by:
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Paul Bartlett
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Written by:
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Slingshot Books
About this listen
No time to read? Get the main key insights from this summary of Antony Lewis’ The Basics of Bitcoins and Blockchains in just a short listen.
A few key insights from Chapter 1:
1. The most widely accepted academic definition of money states that it should fulfill three functions: a medium of exchange, a store of value, and a unit of account.
2. A medium of exchange means money is a payment mechanism used to pay someone for something or to pay off a debt or financial obligation.
3. A store of value means that, in the near term, your money should be worth either the same as it is today or worth more so you can become richer.
4. A unit of account means that money is something that you can use to compare the value of two items, or to count up the total value of your assets.
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