Guess the Oldest Fiat Currency

The longest fiat currency in the world is the British pound. It has been in existence for more than 300 YEARS. I saw an article online talking about it. Not well articulated but draws out the fact that "the pounds sterling has lost 99.5% of its value".

This goes to show that for someone who has decided to use the fiat currency as it store of value, it is in for the losing game. The constant devaluation of our currency make it the worst form of store of value. In this generation, savers are losers. You can not save your way to be a millionaire. You have to invest. This is not a Financial Advice! Do your own research. One of the most liquid investment around is cryptocurrency.

Bitcoin which is the oldest and most important of it all is working like Gold. Since inception, bitcoin has performed incredibly well against the US Dollar. As impressive as it sounds, it does not come without some demerits.

1. It is highly volatile.
2. The risk is solely yours i.e. you are responsible for the security of your wallet.
3. It cannot be oversimplified i.e basic knowledge of the information age is needed.

Nevertheless, it has been the saving grace for a lot of people who have been under the bondage of harsh economic crisis. The hyperinflation in Venezuela, Argentina and Zimbabwe have opened a lot of peoples eyes to the risk of trusting the government and its currency.

Advantage of Bitcoin
1. It cut across border i.e it can be transferred to any part of the world in minutes.
2. It is not controlled by any government i.e it is decentralised
3. It is highly liquid i.e it can easily be converted to local currency of your location.
#silveretblack