History of money and cryptocurrency

The cryptocurrency market is in decline and many crypto enthusiasts say that "everything is bad", "Cryptocurrency is dying" and so on. Having studied history, I decided to give this a positive and, I hope, a very interesting article:

The problem of the cryptocurrency market is caused only by its very young age. Many may believe that 10 years is enough for cryptocurrencies to prove themselves and become a full-fledged financial instrument on a par with money and securities. This is a strong misconception.

The first money from natural metals (silver, gold) appeared in VII BC on the territory of modern Turkey. Coins were distinguished by strength, durability and compactness. They do not deteriorate in contact with water, fire-resistant, they were difficult to forge, and the metal used is difficult to obtain. They meet all the needs of the time and are used in circulation until now, after 27 centuries. At the same time, more recently, in the history of money, people in Japan, until the end of the XIX century, in all calculations used rice.

The most interesting money sign, from the point of view of modern society, are cowrie shells. The first evidence of their use as a money falls on (!) XV century BC, 8 centuries before the appearance of coins. They were forced out of circulation only at the end of the XIX century. Think about it - 3 400 years, part of the world's population used shells as money. Do not think that such an exotic trademark was used only by the natives within tribes, it was a very valuable and universally recognized currency in many countries of Africa and Asia, which was bought for gold and rice.

Cryptocurrencies for 10 years made the main thing, with them began to be considered as an alternative and even a new money sign, a system of mutual settlements. The recognition of cryptocurrencies has already taken place, further evolution will follow. Like other types of money, cryptocurrency has its own characteristics that distinguish it from traditional (fiat) money – decentralization and anonymity, the complexity of production and the lack of the ability to forge it, each mined coin are unique, but most importantly, that cryptocurrency, in the era of IT – relevant.

Cryptocurrency is a new, modern money sign and it will not disappear. She appeared thanks to the modern problems that are destroying the global financial system, excessive centralization, control, corruption, etc. The cryptocurrency will only grow, not only in the coming years and centuries, like coins or cowrie shells. Wars, revolutions, great depressions, an overthrow of kings and state regimes – this is all that happened "in the name" of the money known to us (gold, shells, rice or dollar) and this is all that cryptocurrency has to go through. You can be sure of that. The way of cryptocurrencies will take hundreds of years.