Virtual currency
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Discussion of current money system and some virtual currency and digital currency alternatives for the future...
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Virtual currency
- 1. Virtual Currencies “ Analyzing BitCoin and Market Crashes to Understand the Future of Money” By: Bryan Copeland
- 11. Key Measures of Wealth
- 12. Purchasing Power
- 15. Thanks! -> Movie guide to Occupy Wall Street (by Reuters) -> Money as Debt , Zeitgeist series , Clarke & Dawe (clips used) -> The Creature from Jekyll Island (by G. Edward Griffin) -> The Money Masters , Capitalism and Freedom (by Milton Friedman) -> Who Got Bailed Out? , Which Banks Got Loans? (economic analysis) -> Loan Repayment Calculator , Retirement Calculator (useful tools) -> Complimentary Currency , CommunityExchange (alternative currency projects)
Editor's Notes
- Today in Canada and most other nations worldwide, we exchange labor, ideas, products or other intangible intellectual property (call this 'goods and services') for a fiat currency called 'Canadian dollars'. Private Corporations and Public Organizations act as Employers when they pay people for their goods and services, those people in turn spend that same currency or a portion thereof on products and services they personally need such as food, shelter, transportation, electricity to power home appliances, entertainment, etc... It hasn't always been this way though. By taking a look back to how money has evolved over time, we can better predict what the future forms of money might look like, and possibly start to understand the economies and markets that form around a currency.
- Any currency, whether digital or otherwise, used for representing the value of an exchange which takes place in a 'Virtual Economy', such as within a game, or, for participation in an online community.
- Still not secure enough to replace existing money
- Mt.Gox the biggest exchange only used MD5 to protect buyer/seller accounts, and was hacked in June, 2011 in a selloff that brought BitCoins down to $0.01/BTC.