Bitcoin and Cryptocurrency
Michael Kendall
November 28, 2017
Money has three roles; a medium of exchange, store of value, and unit of account. A unit of account is the most important role of money and the least understood. A unit of account is a monetary standard of reference. …
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Michael Kendall
October 6, 2017
The primary utility of any currency is as a unit of account. Its other roles are a store of value and medium of exchange. The unit of account is a monetary standard of measure. It is a reference upon which…
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