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What is Money?

Watch this lecture to review what money is and how it works.

 

Unlike traditional money that is based not on a tangible asset (like gold), or on the faith of a government (like dollars), Bitcoin is a currency based on cryptography and algorithms. To transfer bitcoins, one uses keys and an algorithm. The currency is independent of banks and governments.

 

License

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Macroeconomics Copyright © by Lumen Learning is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.

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