2 ms·
>One intuition is that cash is a really unfortunate technology that had to exist in the past as a compromise due to technological limitations I can't vouch for
by perl4ever 6y ago
>One intuition is that cash is a really unfortunate technology that had to exist in the past as a compromise due to technological limitations
I can't vouch for the accuracy of the historical perspective, but I came across an intriguing and new-to-me assertion/idea that credit is the oldest financial tech, and cash/coinage was originally a niche tech used perhaps for mercenaries and/or other people who were outsiders relative to a money-using (i.e. credit using) community.
Hence, it might be that what bitcoin aspires to be never was mainstream or primary in the widest context of all of human history.
It reminds me of the general pattern of fundamentalists looking back to an original state of something that never really existed.