During Tuesday 14th of 2017, I went to listen to a presentation which talks about the Cryptocurrency system in the world and most specifically in Cambodia. Two of the guys were explaining about how Bit-Coin has inspired them to come up with a new digital currency in Cambodia. Satoshi Nakamoto is the man who’s created the first Bit-coin. What bitcoin is, is that it a decentralized digital currency that uses the block-chain technology. Historically, people are happen to have a lack of coincidence of wants. Way back then, there are some solution due to barters with money:
Acceptable, Scarce, Durable, Fungible, Uniform, Store of Value. Moreover, the objective theory of value of a good is based on the individual’s subjective perception. By having Bitcoin there are some values to it such as: fair, inexpensive to sent, easy to sent and decently private. Lastly, the two guys stated that, bitcoin is useful as money: 1. No intermediary, 2. High quality data, 3. Durability, reliability and longevity.