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A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state.
Not sure where you're getting
A currency can only exist by decree, in a commercial Babylonian jurisdiction. Currency is not money, it lacks substance, or, economically speaking, it lacks the store of value function.
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I'm getting it from law.
Banknote = private company promissory note, a promise to pay. Can be currency. A coin as a standardized piece of precious metal, is money. A standardized piece of non precious metal is currency.
I can link some resources if necessary wikipedia is a shitcoin ;)
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You nail it!
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That is referring to a currency as legal tender... and that is another story.
people in a nation state.
that is a a key point... "nation state".
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that is a a key point... "nation state". cancel
That's the more general definition and also just the most common example. This might be the source of our disagreement.
Gold was a currency, sea shells were a currency. Currency used to have nothing do with "legal tender" or "by decree" or "nation states".
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no. Those were money, medium of exchange. Is something different.
The "what is money" podcast is explaining very well this.
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