IN DEBT WE TRUST

Cryptocurrencies are decentralized and operate without a central bank. So basically, it’s chaos with better marketing.

✓ TRUE FACT

Most cryptocurrencies run on networks of distributed nodes that validate transactions via consensus rules rather than a central issuer. For Bitcoin, issuance is algorithmic (new coins created in block rewards) and policy is enforced by software, not a monetary authority (with supply capped at 21,000,000).

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The first currency exchange started when someone said “my shells are cuter than yours.” FX was born from aesthetics.“Diversification” was invented after someone put all their gold in one basket and the basket had opinions.The first salary negotiation was a duel. HR later replaced swords with spreadsheets for “culture.”The first bank was invented when someone said “trust me” and everyone inexplicably did. Interest was born the moment regret arrived.The Laffer Curve illustrates the relationship between tax rates and tax revenue. Politicians use it mostly as modern art.The first “amortization schedule” was written to punish joy. It succeeded globally.See all In Debt We Trust facts →

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