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[Economy] Money-Bitcoin: Functions of Money, Exchange Medium, Transfer Value-NEFT-RTGS-Bitcoins, Money Illusion, Overcapitalization (Part 3)

In Economy by Mrunal

Prologue Money: functions Primary functions of money #P1: As a medium of exchange #P2: As a measure of value Secondary Functions / Derivative functions #S1: As a store of value #S2: Transfer of Value / Purchasing Power Transfer of Value in Bitcoin System Transfer of Value: NEFT vs RTGS vs Bitcoin #S3: as a standard of deferred payment Contingent Functions …

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[Economy] Barter-Money-Bitcoin: Circular Flow of Income, Savings to Investment, Time Value of Money, Deferred Payments (Part 2)

In Economy by Mrunal

Prologue #5: Difficult to store Value #6: Savings don’t turn into investment What is Circular flow of income? #7: Account-keeping = mission impossible #8: Lack product specialization #9: Future contracts and deferred payments Time value of money Bitcoins and Smart Contracts Mock Questions Prologue In the previous article (Part I), we evaluated Barter-Money-Bitcoin systems on four parameters: features barter Fiat …

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[Economy] Barter-Money-Bitcoin: Fungibility, Double coincidence of wants, division of labour (Part 1)

In Economy by Mrunal

Prologue Bitcoins overview Barter system #1: Double coincidence of wants #2: Division of Labour #3: Divisibility of Value #4: Fungibility Bitcoin and Fungibility Mock Questions Prologue Original plan was to write on Bitcoins. But for Bitcoin related MCQs, group discussion (GD) and interview questions, one must know the basics of money itself. Only then you can see how Bitcoin is …