triskal on Nostr: LynAlden's Broken Money has the answer to this. It was technological advancements ...
LynAlden (npub1a2c…w83a)'s Broken Money has the answer to this. It was technological advancements that made gold too cumbersome. Specifically that of communication: the telegraph kicked it off, then the telephone and eventually the internet. Transactions were moving faster than settlement so fiat and credit/debt were the only systems that could move at that speed.
But now we have Bitcoin, which is not only hard money, but can provide final settlement as fast as an internet transaction. Best of both worlds.
Published at
2024-06-26 08:32:30Event JSON
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"content": "nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a's Broken Money has the answer to this. It was technological advancements that made gold too cumbersome. Specifically that of communication: the telegraph kicked it off, then the telephone and eventually the internet. Transactions were moving faster than settlement so fiat and credit/debt were the only systems that could move at that speed. \n\nBut now we have Bitcoin, which is not only hard money, but can provide final settlement as fast as an internet transaction. Best of both worlds.",
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