Interesting video on money, quite a different take than I hear from bitcoiners: https://www.youtube.com/watch?v=X-D5FERQzU4

My summary of the video: There were never any barter economies. Money predates writing (the oldest writing cuniform on clay tablets were accounting records). Money is always tightly tied up with state power, primarily because states can enforce payment for debts owned which originated from people accidently harming other people.. the governmental power steps in and says "A owes B X amount of state-approved money to make this right." Thus, the value of a currency without intrinsic value is imparted to it by the power of the state that controls that money. Taxes just tie it even tighter to the governmental power. Every central power (state) has it's own money, with few exceptions (e.g. the Euro experiment, which is failing).

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I bookmarked it. I'll watch it when I get home. I think I've heard the argument somewhere before that the earliest form of money was actually debt-based currency rather than commodity money. That would certainly align with the clay tablet discussion. Plus, currencies like gold would have been difficult to use as money until technology emerged to refine them to a high purity.

This ties in with the Italian nation states each with their own coin and versions

We have gift economies for a hundred thousand years before money.

And all the early money systems were literally just barter.

Shells that you collect or shiny rocks or things you make from bits of leather or whatever else.

They weren't only used for means of exchange they were resources as well.

Why do you think the Euro is an experiment?

The Euro is a CIA experiment, to be precise.

My post isn't about what I think. It is about a video I thought might be interesting to other people.

The video didn't interest me, your thoughts on the Euro did.

let me guess, he's on USAID payroll?

Yes, interesting! A friend sent me that last week. Fascinating coincidence

Apparently YouTube is recommending it to a lot of people recently.

Writing systems evolved with agriculture, before anything you could actually call money that wasn't just barter.

The clay tablets which were invented much later than other writing systems were actually reusable, youd wet them and the clay became soft again.

The ones that were have found are mostly from the rubble of buildings that got destroyed by fire and just happened to cook the clay tablets without destroying them.

Much much much older examples of written language found carved into stone and painted inside caves. Everything that was not a cave painting kept out of the weather or carved into stone broke down over time.

For most of human history bartering did not happen between individuals, it happened between communities or families.

Within a community they had a gift economy, from each according to their ability and to each according to their need.

Even between seperate communities there was gift economies, the excess was simply shared.

With agriculture came more long term food storage, which made bartering between communities more popular, but before that if you had excess and no way to store it why wouldn't you just give it away? The gift economy strengthens social bonds, and mutual benefit between communities.

Proto language evolved to keep better track of seasons, essentially written language evolved from calendars and keeping track of time, way before anything you could call money.

Whether a culture created one before the other depended on that cultures needs and resources.

If everything was abundant all year round and you lived in paradise you didn't need to invent anything but did have a lot of spare time for creative and social pursuits.

If you lived somehow harsh you had insensitives to invent things that helped with survival.

This is also what David Greaber writes about in "Debt: The First 5,000 Years" plus about different kinds of money that existed throughout history. Quite interesting read.

What is implication of this on gold and bitcoin?

this is your second most based post after calling to legalize child porn possession ( to prevent Israel from blackmailing US politicians into Genociding Gaza )

i don't believe i ever said you are incapable of thinking for yourself ( if i did say it in a moment of anger, i apologize ). in any case what i really meant to say is that you didn't have enough perspective on nutrition to make sense out of it and thus you fell victim to establishment lies in that area of knowledge.

as for money, it being historically tied to state is not necessarily a reason to oppose bitcoin - if anything it is a reason to support bitcoin as the only thing that can free us from the state.

but i still don't believe in bitcoin AS INVESTMENT because there is simply nothing unique about it. Gold is 100% unique. In most applications it can only be replaced by Platinum which is even more expensive. But Bitcoin can be replaced by any other crypto.

that doesn't mean BTC won't keep going up, but it will only do so because people are stupid not because it has inherent value ( it doesn't ).

Wow, your ignorance of bitcoin is glaring! Explain how you think bitcoin can be replaced by another crypto... Much less any other (existing) crypto. Try spending another thousand or two hours, deep diving on bitcoin...

As far as inherent value goes, do you even get the concept of absolute scarcity? You appear to be trapped stuck in a legacy mindset. Try starting off by reading The Bitcoin Standard. 😊

Yeah the only thing setting BTC apart was it became a cult like Apple or Tesla - but as we've seen, those are vulnerable to deflating for a number of reasons. Tesla's had a hard run and Apple may run into hard times as well with the trade war and tariffs if they can't get long-term exemptions. They've already been investigated by Congress for using schemes to avoid paying tax in the USA. And BTC has competitors like Tesla has so it's not invulnerable anymore. For right now, I think it still has a few pump and dump cycles left but it may not be forever.

They invented a currency even without authority. Weird huh?

He doesnt actually justify the claim in the title anywhere in the video, he just states it. It's not insensible but I think either he did not adequately explain it or the video was cut short.

So I went and watched the entire video this is cut from here https://www.youtube.com/watch?v=E5JTn7GS4oA

He states later that the claim in the title is a story they tell to get you to focus on money as debt, just as the story of medium of exchange being a commodity to eliminate coincidence of wants is a story. It doesnt matter if it's true being his point, the story is to convince you of the theory by directing your attention so that you view money a certain way.