List the three or four basic "functions" of money - the roles it plays in the economy - and explain the meaning of each. Consider the interesting challenges that cryptocurrency offers to the traditional economic structure. How effective might they be at fulfilling each of these functions? How might the different features of different cryptocurrencies, such as volatility and limitations on issuance, influence their ability to serve as a functional currency?

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The three or four basic functions of money are 1 Medium of Exchange Money serves as a widely accepted intermediary in transactions allowing goods and services to be exchanged without the need for bart... View the full answer