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Ripped From the Headlines: History

A guide to understanding the wider context behind stories in the news.

History of Cryto Currencies

Although Bitcoin was first released in 2009, there were many earlier attempts at creating a digital cash system dating back to the 1980s and 1990s.

Alternative Currencies

                        

At many times in history, but especially during wars and times of economic uncertainty, alternative currencies, produced outside of the national financial systems, flourished.  

Money Theory

Money has been used since ancient times as a way of obtaining goods and services.  In modern times, money is produced by nations which have a monopoly on its issuance.  Most modern systems include a treasury and a banking system headed by a central bank which attempts to provide stability and guard against inflation.  Crytpo currencies work entirely outside and independent of this type of system.

Bitcoin Civil War

The Bitcoin civil war refers to the idea that differing factions within the cryto currency community have differing ideas about how the currency should move forward.  This disagreement has resulted in a "hard fork," which splits the blockchain and creates new currencies.