I really liked this chapter for showing how society flourishes when we have a good, hard money. I didn't know that the Renaissance was driven by the adoption of the gold standard florin. That's one of my favorite eras to learn about when it comes to art history and culture.

Learning about how silver was used as the easier, more portable, day-to-day use money made me think of the Lightning Network and how it is the easier to spend and use version of Bitcoin. Of course the analogy isn't perfect or not good at all but it did make me think of it while I was reading.

I hope everyone is making it through the chapters. I've been getting much better about setting aside time to read. Have a good week and catch y'all next week!

Haven’t had time to finish the chapter yet… but it strikes me that there are similarities that can be drawn between the demonetization of the silver and the demonetization of the petrodollar we are currently experiencing. As nations ditch the petrodollar as a means of exchange, we can’t help but think that there must be a harder money that will need to fill the vacuum. Some nations are already taking about the gold standard again, but that solution cannot last in today’s society after the advent of Bitcoin. I like this quote from the book:

“This is a historical lesson of immense significance, and should be kept in mind by anyone who thinks his refusal of Bitcoin means he doesn’t have to deal with it. History shows it’s not possible to insulate yourself from the consequences of others holding money that is harder than yours. “

#Nostrbookclub #TheBitcoinStandard