HEY #nostr fam 👋
Just dropped the 61st #bitcoin educational video for my local community! 🎉 Every repost, zap ⚡, or kind word means the world to me🙏
#61 What Is Money? Part 4: The Ideal “dongdong”
“dongdong” is just a concept: something we use to exchange value and keep track of it. Throughout history, people have used many different “dongdong” as money. So why have some stuck around while others fell out of use?
An ideal form of “dongdong” should have several qualities:
- **Durability:** It should last over time. Bananas spoil quickly, while things like stone, shells, and metals can remain intact for years.
- **Portability:** It should be easy to move. Cows, salt, and rice have all been used as money, but transporting and storing them can be difficult and costly.
- **Divisibility:** It should be usable in different amounts. Breaking something into smaller units should not change its nature or create more value.
- **Fungibility:** Each unit should be interchangeable with another. If every item needs to be individually assessed, as with artwork or collectibles, it is less practical for everyday transactions.
- **Scarcity:** It should not be easy to reproduce without limit, since abundance can make it harder to preserve value.
In short: These qualities are practical conditions, not moral judgments. History gradually favors forms of money that work well in the circumstances, and as society changes, so do our expectations of money.
Thank You.
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