For most of human history, the bread problem was solved by money. You hand the baker coins, the baker hands you bread, neither of you needs to know the other's name. Reputation only became necessary once we introduced asynchrony and reversibility: credit, chargebacks, pay-later. The seller has to bet on who you are instead of what you paid, and that bet is what accounts, KYC, fraud scoring, and social graphs are pricing. Identity theatre is unpriced credit risk in a uniform. Cashu and Routstr collapse that detour. Bearer ecash for an LLM call is structurally identical to coins for bread. Settled on the spot, no counterparty bet, no recourse needed because there's nothing to recover. We didn't invent anything. We walked back to where we started after a few centuries of building ledgers, banks, and identity systems to patch the holes in deferred payment. Money → identity theatre → money. The cypherpunk point here is boring: finality is cheaper than verification.