Satoshi was so badass (h/t Martti Malmi (npub1g53…drvk)):
Historically, people have taken up scarce commodities as money, if
necessary taking up whatever is at hand, such as shells or stones. Each
has a kernel of usefulness that helped bootstrap the process, but the
monetary value ends up being much more than the functional value alone.
Most of the value comes from the value that others place in it. Gold,
for instance, is pretty, non-corrosive and easily malleable, but most of
its value is clearly not from that. Brass is shiny and similar in
colour. The vast majority of gold sits unused in vaults, owned by
governments that could care less about its prettiness.
Until now, no scarce commodity that can be traded over a communications
channel without a trusted third party has been available. If there is a
desire to take up a form of money that can be traded over the Internet
without a TTP, then now that is possible.
Satoshi
calle 👁️⚡👁️
npub12r…485vg
2024-02-23 19:19:25
Author Public Key
npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vgPublished at
2024-02-23 19:19:25Event JSON
{
"id": "ef3594d5f1fd4947f5ba5cff5e13e6cb88f840e6308445e2ef2b86db48bd75e5",
"pubkey": "50d94fc2d8580c682b071a542f8b1e31a200b0508bab95a33bef0855df281d63",
"created_at": 1708715965,
"kind": 1,
"tags": [
[
"p",
"4523be58d395b1b196a9b8c82b038b6895cb02b683d0c253a955068dba1facd0",
"",
"mention"
]
],
"content": "Satoshi was so badass (h/t nostr:npub1g53mukxnjkcmr94fhryzkqutdz2ukq4ks0gvy5af25rgmwsl4ngq43drvk):\n\nHistorically, people have taken up scarce commodities as money, if \nnecessary taking up whatever is at hand, such as shells or stones. Each \nhas a kernel of usefulness that helped bootstrap the process, but the \nmonetary value ends up being much more than the functional value alone. \n Most of the value comes from the value that others place in it. Gold, \nfor instance, is pretty, non-corrosive and easily malleable, but most of \nits value is clearly not from that. Brass is shiny and similar in \ncolour. The vast majority of gold sits unused in vaults, owned by \ngovernments that could care less about its prettiness.\n\nUntil now, no scarce commodity that can be traded over a communications \nchannel without a trusted third party has been available. If there is a \ndesire to take up a form of money that can be traded over the Internet \nwithout a TTP, then now that is possible.\n\nSatoshi",
"sig": "831897bb86aca15f28f4ec92db3c761d8aa6141f8c2eb5405707da2a025d8ec03deb325991f3de6a235348bc329c5bd53dbe8c7b53f0f28b9628923465452257"
}