Historical Perspective On Bitcoin and Why It Will Rule All Money

To fully grasp the impact of bitcoin it has to be seen from a historical perspective.

This article is for edutainment only is not intended to be construed as investment advice.

To truly put a technology as disruptive to the status quo as bitcoin into perspective we need to look beyond the endless cacophony of the media — not just news media, but also the litany of YouTubers, Instagrammers, bloggers, and armchair economists that are clogging up minds with all sorts of nonsense.

In order to fully appreciate the magnitude of the technological marvel that is bitcoin, we need to look into the history of money itself.

From Wampum to Currency

Before money, people bartered. Not just for day-to-day needs, but also for supply chains. If you give me those sexy fur boots, I’ll give you this lovely seal pelt so you can make ten more pairs.

However, barter is very limited in its usefulness. It’s not easy to barter for something like a Castle.

In order to get people to help you build your empire, you have to pay them in some form — grain, for example. Everyone needs to eat. But grain doesn’t make a very good currency. What if…