Listen Money Matters - Free Your Inner Financial Badass. All The Stuff You Should Know About Personal Finance.

If you haven’t noticed, everyone has been hysterical lately about Bitcoin (to say the least). We talked to Professor Edward Castronova, an expert on investing in cryptocurrency to talk about how the market works. What is the definition of money? According to economists, anything used as a medium of exchange, as a unit of accounting, and as a store of value.  This is why anything from the dollars in our wallets to cigarettes in  POW camp, to Bitcoins can be considered money. What makes it money? Social expectation.  If you have a stone and someone is willing to trade your stone for a cup of coffee, then your stone is money and has value. The difference in forms of currency is how well they perform.  Stones are bulky and heavy, dollars are small and lightweight.  A dollar also has security.  Legally dollars must be accepted as a form of payment.  There is no such law governing stones.  If a vendor won’t accept your stone for a coffee, your stone is worthless. Cryptocurrencies are not regulated And also n