Discussion - A Brief History of Money

Bitcoin Monetary Revolution
#82

In regards to “a brief history of money”, I also consider the Bible as a reliable record of history, which includes plenty examples of barters (cedar in exchange for wheat and oil), monetary designations (silver coins -gerah, shekel, minah, talents), money brokers/dealers (kermatistes in greek), payment scales (to convert monetary metals), head tax, inflation (dishonest weighing of commodities such as grains in order to squeeze more silver shekels from the people) and protests, etc…

For those questioning the barter system, livestock was often figured in barter as a medium of exchange. The latin word for money is drawn from pecus, meaning “cattle”. The usual Hebrew term rendered money means silver.

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#83

At the beggining Barter economy was solution to exchange goods but when you tried to exchange a lot of different thing, it was not possible because you had a huge amount of exchange rate. Then we used a primitive coins likes shells, skins and salt (comoditie to preserve the food).

Monetary metals and coins were born as the world open trade and we started to use gold, cupper, silver, niquel , why ? because there are share this features :slight_smile:

  • fungible
  • divisible
  • portable
  • durable
    But something happened in 1544 it was called The Great debasement. In an other era appeared Paper banknotes, it was a kind of paper that backed up for gold, when you deposit gold you receive a paper banknote

FIat currency is not backed by a comoditie such a gold or silver , it backed by the goverment that issued it and Digital Fiat Money has 1 and 0