Crypto glossary
Every term this channel uses, defined in one sentence — the same sentence every time.
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Bank
A bank is not a vault — it's a giant notebook (a ledger) of who has what, kept by an institution you trust.
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Bank run
A bank run is when everyone stops trusting the bank's notebook at the same time and lines up to pull their money out at once.
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Deflation
Deflation is the opposite of inflation: money that gets stronger over time, which makes people wait to spend and makes every debt heavier.
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Fiat money
A fiat currency isn't backed by anything you can touch — it exists because a government declares it money, and because all of us keep treating it as money.
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Inflation
Inflation is your money losing power — measured by how much stuff one unit of it can buy.
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Ledger
A ledger is just a notebook that keeps track of who has what.
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Money
Money is shared trust, wearing a convenient costume.
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Purchasing power
Purchasing power is how much real stuff a unit of money can actually buy.