LESSON 1: Cryptocurrency is money, isn’t it?

We are all used to the idea that dollars, euros and rubles are money. But has it always been so? What properties should «real» money have?

In this lesson you will learn:

  • Should we consider cryptocurrency to be the new money?
  • Can we beat inflation with their help?
  • And why Bitcoin is considered to be the father of all cryptocurrencies.

Complete the assignments:

  1. Go to coinmarketcap.com and write in the comments the current Bitcoin exchange rate, time and date the rate was fixed.

  2. Count and write in the comments how many US dollars you can get in exchange for 0.05 Bitcoin at the current rate.

Supplementary materials:

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Text of the Lesson

Download the suggested readings:
Nathaniel Popper «Digital Gold»
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Explore a helpful reference material:
https://coinmarketcap.com — one of the largest analytical services dedicated to crypto: rates, charts, investments, and much more.

let’s check your knowledge

1. Cryptography is the science about:

  • Encryption
  • Digitalization
  • Cryptocurrency

2. Metal money has the property of:

  • Safety
  • Storeability
  • Portability

3. An economic situation in which the purchasing power of money increases is called:

  • Inflation
  • Deflation
  • Decentralization

4. Today, US Dollar is:

  • Cryptocurrency
  • Fiat currency
  • Both crypto and fiat currency

5. What function of money does crypto perform if you buy a Tesla car with it?

  • Universal money
  • Measure of value
  • Means of circulation