Lecture 3 of The Bitcoin Standard breaks down how primitive moneys rose and fell—spoiler: production difficulty = everything.
Rai stones, glass beads, seashells—all collapsed when supply became easy to manipulate.
Sound money isn't just scarce. It's HARD to produce.
This is why $BTC's proof-of-work matters. Easy money = death spiral. Always has been.
If you're not studying monetary history, you're ngmi in this cycle.
Rai stones, glass beads, seashells—all collapsed when supply became easy to manipulate.
Sound money isn't just scarce. It's HARD to produce.
This is why $BTC's proof-of-work matters. Easy money = death spiral. Always has been.
If you're not studying monetary history, you're ngmi in this cycle.