Understanding Money Is Key To Understanding Bitcoin Today

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You might have heard or read this phrase before, as it gets stated often, but without many people realizing that it’s a misquote of the biblical “For the love of money is the root of all evil” (1 Timothy 6:10). This misquote is completely wrong. Money, the Bible asserts, “is the answer for all things” (Ecc 10:19) and therefore is one of, if not humanity’s greatest, inventions of all time.

Take a moment and try to imagine a world without money. Think about all the things you enjoy in your lives: watching movies, playing games, a house, a car, a meal at your favorite restaurant. It’s all possible because you can pay others for these goods and services in the form of money without needing to make these things by yourself. In the absence of money, you would have to participate in barter exchange which has a lot of complications involved in it.

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