The Big Gunt on Nostr: The 6 Properties of Money The monetary medium chosen by societies has differed by ...
The 6 Properties of Money
The monetary medium chosen by societies has differed by availability and evolved as new materials and technology emerged which better fulfill the properties sought in a monetary medium. What is consistent across history is that goods chosen as money have maintained certain properties that enable monetary functionality.
There are 6 monetary properties that determine a good’s merit for fulfilling the desired functionality as money:
1. Scarcity – is limited in its supply relative to other goods.
2. Durability – can be used repeatedly without losing its func-
tionality.
3. Acceptability – it is used by others and thus accepted widely
in a group.
4. Portability – capable of being moved across distances.
5. Divisibility – can be divided into smaller units of value.
6. Fungibility – one unit is viewed as exactly the same as (and
thus interchangeable with) another unit. #bitcoin
The monetary medium chosen by societies has differed by availability and evolved as new materials and technology emerged which better fulfill the properties sought in a monetary medium. What is consistent across history is that goods chosen as money have maintained certain properties that enable monetary functionality.
There are 6 monetary properties that determine a good’s merit for fulfilling the desired functionality as money:
1. Scarcity – is limited in its supply relative to other goods.
2. Durability – can be used repeatedly without losing its func-
tionality.
3. Acceptability – it is used by others and thus accepted widely
in a group.
4. Portability – capable of being moved across distances.
5. Divisibility – can be divided into smaller units of value.
6. Fungibility – one unit is viewed as exactly the same as (and
thus interchangeable with) another unit. #bitcoin