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FOR EDUCATION ONLY

Money represents value and a medium of exchange.

We have fiat money, paper money, which was originally backed by gold. Fiat money and gold were interchangeable, we trusted something.

Thereafter we trusted someone, the Central Bank of America, the Federal Reserve, instead of something. President Richard Nixon stopped fiat money and gold interchangeability.

We introduced later digital money, such as the credit card and the wire transfer.

Bitcoin is digital money, Internet money, and an alternative to the monetary system.

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