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4min chapter
WiM026 - Money Hierarchies with Nik Bhatia
The "What is Money?" Show
The Problems Within Using Gold and Silver as Money
Both of these metals, the reason that human beings holistically set it on, settled on the two of them, was that they maintained value across tribes, across oceans and across generations. Nothing else could do all of those things over a long enough time horizon. And so to gauge how much value you have, and i have, in a business transaction where very, ah, you know, in this case, every gram counts, right? A, we need a better way to do that than my gold chain and your gold chain. B, coins offered an advance on that front, the measurability and the execution of a transaction, the speed of a transaction. E, coin change the
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