Letter #211: Bitcoin - A Currency Without Borders

Read now to learn how the friction of exchanging one fiat currency to another can be completely eliminated by using Bitcoin instead.

Dear Readers,

Money has evolved quite a bit over the course of history, but it’s clear that its current form, fiat currencies, is not the final stage of its evolution. Fiat currencies are riddled with political and national biases, are susceptible to inflation and manipulation, and are overall difficult to use.

On that last point, as evidence of the difficulty inherent in using fiat currencies, think no further than the last time you, a family member, or a friend traveled to a different country. It’s almost guaranteed that traveling included a not insignificant amount of hassle related to exchanging your native currency into the fiat currency of the country you were visiting. After all, vendors and other businesses at your destination likely weren’t very interested in accepting your native currency when their local government requires them to transact in the local currency.