Finished reading the Big Short which went into the details of the financial collapse of 2007. It dovetails well into the recent interest in Bitcoin in 2017, an electronic currency with a limited supply. A large amount of government money was used to clean up the subprime mess in 2007. This also could increase the money supply in the United States.
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Bitcoin passed $10,000 on November 28, 2017. People spend money to buy airline frequent flyer miles. Sometimes it requires 15,000 miles to buy a one way ticket and other times the price is increased to 30,000 miles. Paper currency is a relatively new invention. The United States dollar was not backed by a precious metal during the Civil War and War of 1812. After 1971, it was no longer backed by gold. Bitcoin can be used as an international currency free from local economic risks.
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With a Coinbase wallet, it&
#39;s relatively easy to accept payments with Bitcoin, Ethereum, or Litecoin. Download the app for iOS or Android. Open the wallet for the cryptocurrency, then hit send on the upper right. Copy the text code and send it out. The other option is to have another phone with the Coinbase app scan the bar code and send money. Transaction fees are relatively small for bitcoin about 2%. Between Coinbase accounts, there are no transaction fees.
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