Dan on Nostr: Money velocity is how fast money can move. People don't pay much attention to it, but ...
Money velocity is how fast money can move. People don't pay much attention to it, but it's a phenomenon as important as how fast electricity moves.
The slower money moves, the more expensive it is to manage. An example most people don't see is ACTUALLY how slow a credit card charge is. Most credit card charges take up to 2 weeks, involve 4 different institutions, cost up to 5%, before they actually settle.
In the old days, moving gold/silver coins & bars across the country took months and was really expensive and risky. There has been a quest for speedy financial settlement ever since.
In 2008, Satoshi Nakamoto, published the Bitcoin white-paper. What this did was to spell out how to move real money around the world at low cost, at the speed of light to any entity with a basic internet connection. This effectively gave money the same velocity as our fastest technology. This innovation will change everything.
The slower money moves, the more expensive it is to manage. An example most people don't see is ACTUALLY how slow a credit card charge is. Most credit card charges take up to 2 weeks, involve 4 different institutions, cost up to 5%, before they actually settle.
In the old days, moving gold/silver coins & bars across the country took months and was really expensive and risky. There has been a quest for speedy financial settlement ever since.
In 2008, Satoshi Nakamoto, published the Bitcoin white-paper. What this did was to spell out how to move real money around the world at low cost, at the speed of light to any entity with a basic internet connection. This effectively gave money the same velocity as our fastest technology. This innovation will change everything.