zach on Nostr: In war, boots. In flight, a place in the boat or a seat on the lorry may be the most ...
In war, boots. In flight, a place in the boat or a seat on the lorry may be the most vital thing in the world. More desirable than untold millions.
In hyperinflation a kilo of potatoes was worth, to some, more than the family silver.
A side of pork more than the grand piano.
A prostitute in the family was better than an infant corpse.
Theft was preferable to starvation.
Warmth was finer than honor.
Clothing more essential than democracy.
Food more needed than freedom.
(Adam Ferguson, When Money Dies)
In hyperinflation a kilo of potatoes was worth, to some, more than the family silver.
A side of pork more than the grand piano.
A prostitute in the family was better than an infant corpse.
Theft was preferable to starvation.
Warmth was finer than honor.
Clothing more essential than democracy.
Food more needed than freedom.
(Adam Ferguson, When Money Dies)
quoting nevent1q…c044I've spent the bear market diving deep into the halls of financial history, of humans' relationship with money.
We repeat the same cycles over and over. From Ancient China, to Imperial Rome, to medieval Europe, to pre-revolutionary America. Every story is similar: human greed duplicates money trivially, thus creating excessive claims on the real economy. Prices of commodities skyrocket, confidence is lost, and economic collapse ensues.
In the rubble of the crash, the people inevitably return to the safety and solace of commodities- to outside money. In the past these were precious metals, grains, tobacco leaves, silks, etc. Each of these served as real money for a time, and each had inherent flaws. History is rife with these tales.
When the next systemic reset occurs as it invariably will, emptying fiat hands will seek shelter in a money that cannot be diluted or debased, which cannot be censored or confiscated. A borderless, decentralized digital commodity now exists to fill that void.
There they will find Bitcoin.