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The relationship between monies and goods has been murky. But it's kinda cool to cut a clear line to say that bartering economy exists before money. But I think
by dnprock 7y ago
The relationship between monies and goods has been murky. But it's kinda cool to cut a clear line to say that bartering economy exists before money. But I think they always co-exist. This relationship is more like chicken and egg.
I did some research on how gold became money. Archeologists found evidence of gold usage dated 40,000 BC. When gold shows up in written history around 10,000 BC, it's already money. We did not really know if gold was good first or money first. I conclude that it's a little bit of both when humans first found it. I wrote about the topic in this article:
https://bitflate.org/post/2019/11/29/how-gold-became-money.html https://bitflate.org/post/2019/11/29/how-gold-became-money.h...
Going back further, I think we can say sex was the first kind of currency. Organisms exchange sex to reproduce.
Today, we have Bitcoin. It's also unclear how we should define it: asset or money. The answer is it's a little bit of both. I hope the IRS will lower the tax rate on Bitcoin when they understand this.