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𝐆𝐄𝐓 𝐓𝐇𝐄 𝐁𝐈𝐓𝐂𝐎𝐈𝐍 𝐂𝐎𝐔𝐑𝐒𝐄➜➜➜ https://www.trader.university/courses... Use the discount code YT99 to get the best price. In this video, I discuss whether Bitcoin is backed by anything, in the context of the history of money. Like fiat money and gold, Bitcoin is not backed by anything. New forms of money emerge when users converge on them for their superior monetary properties (scarcity, durability, portability, divisibility, fungibility, etc). This was how gold demonetized seashells and copper, and also how Bitcoin is in the process of demonetizing gold. In the future, due to Bitcoin's superior monetary properties, I expect Bitcoin to be used as the primary global reserve asset that is used to settle trade imbalances. Bitcoin is highly suited for this function because it is a neutral asset that is not issued by any nation-state and that cannot be controlled, confiscated, or debased by any actor. Gold has a 10,000 year history as money, but so did horses for transportation-- until the automobile came along. Bitcoin is at least a 10x improvement on gold, and has been stealing market share as a result. Expect Bitcoin to continue to eat the world. Not investment advice! Consult a financial advisor. $10 gold certificate: https://i.pinimg.com/originals/a5/39/... Qaddafi, gold, and crude oil: https://theecologist.org/2016/mar/14/... Wampum as legal tender: https://daily.jstor.org/wampum-was-ma... Check out my online trading courses: https://www.trader.university/join Use this secret coupon code to get a discount: YT99 Check out my Amazon best-seller, "A Beginner's Guide to the Stock Market": https://www.amazon.com/Beginners-Guid... I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals. #bitcoin #crypto #gold Disclaimer Neither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.