Hanshan / Hanshan is on Nostr

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Nostrich since 761114.

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2026-09-20 21:03:50 UTC

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Not even close. Most debts ("moneyness") were settled through credit. Reputation.
That is the de facto monetary standard of the time. Ledgers and credit.
Poor people settled their debts in local fiat or other base metals.
Silver became ONE important settlement network for the wealthy and for a few hundred years as it was insanely profitable to mine it in the Americas and transport it to China. Many money systems had nothing to do with silver at all.
Only the most *desperate wishful thinking gets to "all money returns to one" from there 🙄

2026-09-20 20:53:27 UTC

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Yeah silver is awesome. Youre just describing consistent demand for a material asset, not a payment network or money system.
The point stands that it was never global money, it just became one (of many) settlement layer.
And retaining spending power obviously isn't the only important property of a monetary asset.
"Resilience" is a good one. If the network isn't reliable, it doesn't have utility for value transfer. Sometimes we call this "security" and decentralization plays a big role here.
"Transferability" also comes to mind. If someone can't reassign ownership to somebody else, it isn't particularly useful.
And of course, we're all about the ability to reassign value without any third party's consent or knowledge.
Which is just to say,
Manhattan real estate might be a good store of value, it doesn't make it a monetary system.

2026-09-20 20:38:26 UTC

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Its true that people finding value in shiny bits of metal lasts longer then empires.
There was widespread demand for silver, so it was used for settlement across jurisdictions. Most people just used their local network, which didn't necessarily settle into silver.
This is different than "all money returns to one".
If you want Bitcoin to replace Swift, I think that's great and there's historical evidence that we need something like that.
There ISN'T any historical evidence that everybody will end up using the same value transfer system.

2026-09-20 19:49:05 UTC

Bitcoin should just be a international settlement system between nation-states like silver was in the middle ages.
Us plebs will just carry on, using our local payment networks like we always have.
#bitcoin #monero
#nevent1q…lq0a

2026-09-19 18:28:32 UTC

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There nothing "anti Bitcoin" about monero

2026-09-18 23:30:10 UTC

Bitcoin doesn't fail if other chains provide utility
we've always had different value transfer networks that people have used for their own reasons and convenience
#nevent1q…mhtg

2026-09-02 02:39:56 UTC

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But why? 🧐

2026-06-15 02:53:32 UTC

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to turn it around,
who decides the elasticity of the credit system built on top of the fixed layer?