Is credit currency a virtual currency
Publish: 2021-04-29 10:28:26
1. So far, no one can guarantee the value of bitcoin. Bitcoin is a virtual currency without any actual credit support. Its real value lies in that when everyone believes in it, it is worth money. When everyone does not believe in it, it is worthless
of course, its selling point is to speculate that there is no inflation. However, a limited number of currencies is not absolutely inflation free, because the original price can rise or fall arbitrarily when people's confidence can not be guaranteed. This means that inflation can be as difficult to control as any currency
when gold has no monetary function, it at least retains the functional value of ornament and metal, and then it can become a real currency again through value exchange in any society with money
however, any virtual currency in the form of pure credit, whether it is paper money of a certain country or the so-called electronic currency, must have an equal amount of real wealth value injection before it can start to obtain the real form of credit guarantee and value, and then it can have the real credit value. Any so-called credit currency that lacks this process of injecting value and obtains guarantee is zero credit currency
as long as bitcoin does not have any social entity with economic credit (such as a government) to inject real value and make formal guarantee for it, it will always be just a nominal currency with legal credit equal to 0. Any country can take this form of electronic currency to improve the function of currency counterfeiting and other management functions, but this pure electronic currency itself can not be separated from the attributes and forms of a credit currency itself. For example, US dollar or RMB can be issued and managed in the form of this kind of electronic currency, However, this does not mean that the US dollar and RMB itself can be separated from an actual form of credit guarantee and valuation process to become truly valuable currencies
any certain amount of money can be diluted and decentralized by a larger number of other "nominal money with no equal wealth value" and suffer devaluation. For example, the central bank issues money to the market for use out of thin air; On the other hand, the dominant value of any fixed amount of credit money can also change when its real wealth assignment changes. When it is abandoned by the original credit supporters, the credit right of its real wealth value will also end. For example, a country whose economic expenditure is basically bankrupt, Even if the amount of money is fixed, it will fall to the bottom, because the money itself has lost the control of the original normal amount of wealth. However, when a currency has not been assigned a value by a formal political entity in the legal form and process, its value can only be empty
the above points are only for some mentally retarded people who may fall into financial fraud. I hope that those who don't understand will not participate in speculation and avoid losses. As for the specific financial knowledge, many experts actually understand that bitcoin, as a form of credit currency, is a relatively new electronic currency. Many people want to observe what specific reactions it will have in the actual actions of the society. On the contrary, it has not aroused much vigilance for its possible adverse effects
reference: bitcoin: so far = empty credit currency
hope to adopt
of course, its selling point is to speculate that there is no inflation. However, a limited number of currencies is not absolutely inflation free, because the original price can rise or fall arbitrarily when people's confidence can not be guaranteed. This means that inflation can be as difficult to control as any currency
when gold has no monetary function, it at least retains the functional value of ornament and metal, and then it can become a real currency again through value exchange in any society with money
however, any virtual currency in the form of pure credit, whether it is paper money of a certain country or the so-called electronic currency, must have an equal amount of real wealth value injection before it can start to obtain the real form of credit guarantee and value, and then it can have the real credit value. Any so-called credit currency that lacks this process of injecting value and obtains guarantee is zero credit currency
as long as bitcoin does not have any social entity with economic credit (such as a government) to inject real value and make formal guarantee for it, it will always be just a nominal currency with legal credit equal to 0. Any country can take this form of electronic currency to improve the function of currency counterfeiting and other management functions, but this pure electronic currency itself can not be separated from the attributes and forms of a credit currency itself. For example, US dollar or RMB can be issued and managed in the form of this kind of electronic currency, However, this does not mean that the US dollar and RMB itself can be separated from an actual form of credit guarantee and valuation process to become truly valuable currencies
any certain amount of money can be diluted and decentralized by a larger number of other "nominal money with no equal wealth value" and suffer devaluation. For example, the central bank issues money to the market for use out of thin air; On the other hand, the dominant value of any fixed amount of credit money can also change when its real wealth assignment changes. When it is abandoned by the original credit supporters, the credit right of its real wealth value will also end. For example, a country whose economic expenditure is basically bankrupt, Even if the amount of money is fixed, it will fall to the bottom, because the money itself has lost the control of the original normal amount of wealth. However, when a currency has not been assigned a value by a formal political entity in the legal form and process, its value can only be empty
the above points are only for some mentally retarded people who may fall into financial fraud. I hope that those who don't understand will not participate in speculation and avoid losses. As for the specific financial knowledge, many experts actually understand that bitcoin, as a form of credit currency, is a relatively new electronic currency. Many people want to observe what specific reactions it will have in the actual actions of the society. On the contrary, it has not aroused much vigilance for its possible adverse effects
reference: bitcoin: so far = empty credit currency
hope to adopt
2. In order to become legal tender, digital currency must meet three requirements:
the first is technical security, which is the most basic requirement< The second is universal acceptance. At present, no digital currency of any commercial organization has reached the level of "universal acceptance". Bitcoin is not only far from being a kind of currency, or even not considered as a kind of currency to a certain extent, because its liquidity and tradability are not universal, and the currency value is very unstable, so it is impossible to become a currency with general equivalent characteristics without solving the universal acceptance< Thirdly, we should have supply elasticity. At present, it is generally recognized that the reason why digital currency can not become an effective means of circulation lies in its lack of supply elasticity, resulting in currency instability.
the first is technical security, which is the most basic requirement< The second is universal acceptance. At present, no digital currency of any commercial organization has reached the level of "universal acceptance". Bitcoin is not only far from being a kind of currency, or even not considered as a kind of currency to a certain extent, because its liquidity and tradability are not universal, and the currency value is very unstable, so it is impossible to become a currency with general equivalent characteristics without solving the universal acceptance< Thirdly, we should have supply elasticity. At present, it is generally recognized that the reason why digital currency can not become an effective means of circulation lies in its lack of supply elasticity, resulting in currency instability.
3. Credit money is a kind of money which is stipulated by national laws and is not based on any precious metal and plays an independent monetary function. At present, the currency issued by all countries in the world is basically credit currency. Credit currency is a credit circulation tool provided by banks. Its own value is far lower than its monetary value, and different from the substitute currency, it is completely decoupled from precious metals and no longer directly represents any precious metals. In the 1930s, there was a worldwide economic crisis, which caused economic panic and financial chaos, forced the major capitalist countries to break away from the gold standard and the silver standard, and the paper money issued by the state could not be exchanged for metal money. Therefore, credit money came into being. Nowadays, almost all countries in the world adopt this form of currency
the content of this article comes from: financial code of the people's Republic of China: application edition, China Law Press
the content of this article comes from: financial code of the people's Republic of China: application edition, China Law Press
4. Credit currency is a kind of currency which is stipulated by national laws and is not based on any precious metal and plays an independent monetary function. At present, the currency issued by all countries in the world is basically credit currency, and the RMB we use is credit currency
5. Credit currency refers to the currency whose face value is higher than the real value, which is guaranteed by the national law and backed by the national credit. The currency in circulation in modern countries is credit currency. Its main forms are: paper money, inferior metal coins, and bank check deposits
6. Credit currency is the further development of substitute currency.
credit currency refers to the currency whose value is lower than the value it represents as currency, or even has no value, and only circulates by virtue of the credit of the issuer. The reason why credit currency can replace metal currency is that the quantity of precious metal currency can not meet the demand of expanding money supply e to the further expansion of proction and circulation, and it is extremely inconvenient to use metal currency in more and more bulk commodity transactions; Second, when money acts as a medium of exchange, it contains the possibility of credit money. As a medium of exchange, people are concerned about whether it can be exchanged for goods of equal value rather than money itself. As long as people are willing to accept it, money can be completely replaced by goods of lower value or even symbols of no value. The typical forms of credit currency are bank notes and government notes. The former can be called cashable credit currency because it is a debt certificate issued by the bank to the holder to guarantee the payment of gold and silver. The latter can be called the cashless credit currency, because it is a value symbol issued by the government and forced to circulate by the state power. Nowadays, in the name of the central bank and through credit channels, bank notes have generally taken the place of government notes to perform the function of national unified currency. After the 1950s, credit money mainly took the form of non physical deposit money. Only a small part of people's money was held in the form of cash (banknotes and coins), and most of it existed in the form of bookkeeping symbols on the bank's books. When the money was received, the bank transferred the deposit on the payer's account to the payee's account; When the money needs to be paid, the payer can issue a check issued by the bank to inform the bank to transfer a certain amount of money from its deposit account to the payee's account. With the progress of society and the rapid development of science and technology, the check transfer method of deposit currency is more and more replaced by "electronic money transfer system"
credit currency (legal currency): the most significant feature is that the value as a commodity is different from that as a currency
it is not cashable, just a symbol, and it is determined by law that it must be accepted when it pays its debts, that is, the repayment currency of law
credit currency: it is a form of currency that is guaranteed by credit, issued through certain credit proceres, and used as a means of circulation and payment. It is a modern form in the development of money<
credit currency is a kind of credit security which can replace the metal currency as the means of circulation and payment.
credit currency has the following characteristics:
1. It is the value symbol of currency.
2. It is debt currency.
3. It is mandatory.
4. The state controls and manages credit currency
credit currency refers to the currency whose value is lower than the value it represents as currency, or even has no value, and only circulates by virtue of the credit of the issuer. The reason why credit currency can replace metal currency is that the quantity of precious metal currency can not meet the demand of expanding money supply e to the further expansion of proction and circulation, and it is extremely inconvenient to use metal currency in more and more bulk commodity transactions; Second, when money acts as a medium of exchange, it contains the possibility of credit money. As a medium of exchange, people are concerned about whether it can be exchanged for goods of equal value rather than money itself. As long as people are willing to accept it, money can be completely replaced by goods of lower value or even symbols of no value. The typical forms of credit currency are bank notes and government notes. The former can be called cashable credit currency because it is a debt certificate issued by the bank to the holder to guarantee the payment of gold and silver. The latter can be called the cashless credit currency, because it is a value symbol issued by the government and forced to circulate by the state power. Nowadays, in the name of the central bank and through credit channels, bank notes have generally taken the place of government notes to perform the function of national unified currency. After the 1950s, credit money mainly took the form of non physical deposit money. Only a small part of people's money was held in the form of cash (banknotes and coins), and most of it existed in the form of bookkeeping symbols on the bank's books. When the money was received, the bank transferred the deposit on the payer's account to the payee's account; When the money needs to be paid, the payer can issue a check issued by the bank to inform the bank to transfer a certain amount of money from its deposit account to the payee's account. With the progress of society and the rapid development of science and technology, the check transfer method of deposit currency is more and more replaced by "electronic money transfer system"
credit currency (legal currency): the most significant feature is that the value as a commodity is different from that as a currency
it is not cashable, just a symbol, and it is determined by law that it must be accepted when it pays its debts, that is, the repayment currency of law
credit currency: it is a form of currency that is guaranteed by credit, issued through certain credit proceres, and used as a means of circulation and payment. It is a modern form in the development of money<
credit currency is a kind of credit security which can replace the metal currency as the means of circulation and payment.
credit currency has the following characteristics:
1. It is the value symbol of currency.
2. It is debt currency.
3. It is mandatory.
4. The state controls and manages credit currency
7. Today's credit currency is divided into the following three types:
1, paper currency and corresponding subsidiary currency
2. Deposit currency. That's what you have in the bank
3. Securities. For example: bills of exchange, treasury bills
1, paper currency and corresponding subsidiary currency
2. Deposit currency. That's what you have in the bank
3. Securities. For example: bills of exchange, treasury bills
8. Legal tender is credit currency
credit money is a kind of currency which is stipulated by national laws and is not based on any precious metal and plays an independent monetary function. At present, the currency issued by all countries in the world is basically credit currency. Credit currency is a credit circulation tool provided by banks. Its own value is far lower than its monetary value, and different from the substitute currency, it is completely decoupled from precious metals and no longer directly represents any precious metals. In the 1930s, there was a worldwide economic crisis, which caused economic panic and financial chaos, forced the major capitalist countries to break away from the gold standard and the silver standard, and the paper money issued by the state could not be exchanged for metal money. Therefore, credit money came into being. Nowadays, almost all countries in the world adopt this form of currency
legal tender / fiat money refers to the fact that it does not represent real goods or goods, and the issuer has not fulfilled its obligation to cash the money in kind; A currency that becomes legal currency only by government decrees. The value of fiat money comes from the owner's belief that money will maintain its purchasing power in the future. Money itself has no intrinsic value, that is to say, when paper money comes into being, legal tender is essentially the paper money that can be circulated according to the law.
credit money is a kind of currency which is stipulated by national laws and is not based on any precious metal and plays an independent monetary function. At present, the currency issued by all countries in the world is basically credit currency. Credit currency is a credit circulation tool provided by banks. Its own value is far lower than its monetary value, and different from the substitute currency, it is completely decoupled from precious metals and no longer directly represents any precious metals. In the 1930s, there was a worldwide economic crisis, which caused economic panic and financial chaos, forced the major capitalist countries to break away from the gold standard and the silver standard, and the paper money issued by the state could not be exchanged for metal money. Therefore, credit money came into being. Nowadays, almost all countries in the world adopt this form of currency
legal tender / fiat money refers to the fact that it does not represent real goods or goods, and the issuer has not fulfilled its obligation to cash the money in kind; A currency that becomes legal currency only by government decrees. The value of fiat money comes from the owner's belief that money will maintain its purchasing power in the future. Money itself has no intrinsic value, that is to say, when paper money comes into being, legal tender is essentially the paper money that can be circulated according to the law.
9. Credit currency refers to the currency whose value is lower than or even has no value, which can be circulated only by virtue of the credit of the issuer. The promissory notes, bills of exchange, bank notes and cheques circulating in transactions all belong to credit currency. It reflects the credit relationship between creditors and debtors. Compared with traditional money, electronic money has different backgrounds, such as social background, economic conditions and technological level; Its manifestations are as follows: electronic money is transmitted and displayed by electronic pulse instead of paper, which is processed and stored by microcomputer without the size, weight and imprint of traditional money; Electronic money can only circulate in the field of transfer, and the circulation speed is much faster than that of traditional money; Traditional currency can be used in any area, while electronic currency can only be used in credit card market; The traditional currency is issued by the state and circulates compulsorily, while the electronic currency is issued by the bank. Its use can only be guided by propaganda, not forced orders. In addition, in use, legal currency should be used to reflect and realize the value of commodities, and settle the creditor's rights and debts between commodity procers; The influence of e-money on society is wider and deeper.
10. Credit currency is a kind of credit tool that can give full play to the function of currency. It includes commercial bills, bank notes issued by commercial banks, bank notes issued by the central bank and bank deposits that can be transferred and settled. Credit currency is proced on the basis of credit relationship. It is issued through credit procere and has derivative function. It is the currency form adopted by modern countries.
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