Thorgasail on Nostr: Every single silver based coin was valued on purity and amount of silver in the coin. ...

Every single silver based coin was valued on purity and amount of silver in the coin. That is the network, the base metal. The conveniences layered on top were just that: layers. Coining silver was analogous to credit cards for the dollar or lighting for bitcoin. They are add ons with their own value, but not changes to the network itself. Bitcoin is not revolutionary because it is voluntary, it's revolutionary for various reasons one of the prime being that it cannot be forked or copied. Silver was fully voluntary too. And all moneyness did in fact collapse into it, because that is what the network effect causes. Silver was the universal global money network for at least several hundred years, and contained the vast majority of moneyness. If bitcoin survives, that would also be expected to happen, because networks are invariably subject to the network effect.