Tally Sticks & Monetary Evolution (June 15th)
Description
Bitcoin is the next evolution in money and in value. Quick little history lesson on money. Initially, you had a good or a service and that had value. Let's say you raised goats and someone else had a farm and they had corn and you would barter. You would trade for those things. Barter became a very inefficient system because it wasn't disintermediated, meaning there was no middleman, and therefore, if you were out of goats and someone had too much corn, it might be difficult to trade.
The barter system evolved into essentially a measuring stick where one person would have a building and they would store a stick in there and they tally it up and they were called tally sticks. That was the first iteration of a disintermediated bank, essentially.
From that it became well, let's find something that can create a store of value for everybody which was gold. We all know the story of gold, which was then disintermediated again, into what we now know as Fiat currency.
The difference is in the barter system, it was peer to peer - people were trading with each other. In the tally system it was still generally community driven in a very localized way. Gold became something that everyone agreed upon as a standard of value. Whereas in the fiat model, the governments took over and now the governments have decided what has value and doesn't.
Here's where Bitcoin gets really interesting. It represents the freedom of wealth, the separation of wealth from state in the same way in the US we have a separation of church and state, Bitcoin, as the next evolution of money, is the separation of wealth and state.
That is going to see it go across border. People in Nigeria or Japan or Canada, United States, anywhere in the world, all have money completely independent of the government and jurisdiction they choose to live in. And that is going to create a very exciting future for all of us.