THEORETICAL - DO NOT PEEPEEPOOPOO

[Anonymous No.28046212]

hi brothers. wanna know my shitty historical analogy for crypto??

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Thought of this as an analogy of bitcoin whilst having a shit last night, turns out some academic already had the same.thought...

https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-could-be-spanish-piece-eight-21st-century-says-us-academic-10186316.html

Interestingly, a Spanish silver dollar was often split into 8 pieces (hence the name pieces of eight) but these were known as bits. A quarter was 2 bits, where the phrase' 2 bit' to mean cheap comes from.

World's first major currency basically used for world trade. Definitely a good BTC analogy.

[Anonymous No.28046289]

Found an academic paper earlier though talking about how personal wealth of the common man in northern parts of UK during the period (1700-1830) only really started gathering pace when the Spanish dollar hit shores. London minted the currency back then and only distributed it within 30 miles so the more north you went in England the more you were likely to bump into Spanish silver dollars. Scotland was full of them.

Some say the speculative bubble of railwaymania (starting around Manchester/Liverpool) arose from this new found confidence and wealth that this ease of settlemen brought. (Before this workers often shopped at company stores with company issued tokens and settled debts monthly with local tradespeople after doing the work/receiving produce on a tab, strictly due to lack of coinage and a distrust of paper money outside of the upper class circles).

If as theorised the silver dollar facilitated the ushering in for all that industrial boom, then what did bitcoin facilitate the ushering in of?

It's a 3 letter answer.

[Anonymous No.28046486]

ETH is that industrial boom. That was coal powered, this is Gas powered.

Just as the industrial revolution needed a sound financial footing to emerge, ETH ecosystem needed bitcoin to be in place in order for it to be able to emerge. How else would people have bought in at ICO? Debit card? Doubtful.

Wrapped bitcoin is analogous to early paper money in my "history rhymes" theory. Sterling pound notes, sterling silver promissory notes for that rare rare hard-mined silver. It says we promise to pay the bearer on demand, except not actually in metals anymore, since 1970, in just more notes. BTC was created due to this reckless abandonment of hard money.

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We need hard money on ETH.
If they say is it not hard enough?
We say no Vitalik, we want it harder!

Good day gents.

[Anonymous No.28046616]

Interesting, thanks for sharing.

[Anonymous No.28047229]

>>28046212

OP types alot
someone just tell me wot coin to buy?