Today’s topic will be on cryptocurrency. I have been wanting to do this video for awhile and after seeing videos from Andrei Jikh and Chicken Genius on Bitcoin, how can I also miss out on releasing one.
Cryptocurrency has been a hot topic the past few years and many says that it will be the currency used in the future as it is not like fiat currency, a government-issued currency that isn’t backed by a commodity such as gold. Fiat money gives central banks greater control over the economy because they can control how much money is printed. Take for example the US dollar where the US Federal Reserve has been printing money to counter the effects of Covid-19. This has raised concern on whether the value of the US dollar will drop because more money is printed. I didn’t really study any finance modules in school as I