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21 May 2024
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Fiat Lost Its Essence, Is Bitcoin Taking Us Back To The 18th Century?

Go back to ancient times. People exchange bread for butter and hair services for garlands, trading is limited to everyday use items, slavery is a concept and then slowly and steadily farming and peasantry shows up. Irrigation develops, times change, emperors show up, empires form, people work too hard and the idea of freedoms changes, as religions enter the scene. More and more the rights of people and ideas get locked under ancient laws and rulers that were poorly informed. Invasions take place, armies form, money is there on the horizon, communities begin to refine their craft, borders form, cultures spread in regions. More and more people begin to be known as local advisors, King’s informers, thinkers, until books show up through the advent of papyrus.

Times are changing. Cleopatra can send her lover’s long scrolls on fabric and in hieroglyphs, ancient Greek societies are formulating their best concepts of liberty, love, and politics. The world is changing. Money is not the capitalist form of power, which today is too little for the peasant and the same amount is too much for the landowner or boujee rich capitalist, because of networking, relations, authority and multiple and better use of the same amount in different ways.

Money is scattered and the use is limited, but the money is in the form of gold and precious metals. This is the beauty of the concept, even though it is unfairly divided and the poor are actually poor but lives are not as miserable, not as painful like today, money can be earned with effort.

Those gold coins, the gems, yes those shiny little gems that the owners own, rulers fight over and are mined with ore and tools so archaic we would not understand them, those are what cryptocurrency is helping us go back to.

We live in exhausting desperate times, the mechanics of the world around us greatly rely on the power of the economy and the government, more than the money, paper itself has no meaning, the government printing, originality, and its serial number adds value to this, cryptos on the other hand use algorithms, these indicate greater truth like the age-old coinage systems with genuine gold and metal value attached to them.

Governments and economists can fool around with fiat and bank notes, but the crypto world is decentral and it is not contingent to how bad or great the political condition that has to be responsible or in charge of the money’s performance.


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