The Pre-Bitcoin History You Should Know: Basic Cash Versus Fiduciary Media

Bitcoin Magazine

This is an opinion editorial by Matthew Mezinskis, creator of the “Crypto Voices” podcast and Porkopolis Economics.

Take a moment to reflect on how long you’ve been in Bitcoin. Now take another to ask yourself how many articles on money you’ve read along the way; And not just those medium-of-exchange or store-of-value pieces. Think about the philosophizing diatribes which purport to identify the mysterious meanings of what “money” is. And then the ultimate twist, how does Bitcoin fit in? Many words have been written by Bitcoiners, many by its detractors. From the “social contract theory” and “something we all agree on,” to the “transactional currency” and that ever-important “cup of coffee” metaphor, everyone always has something to say about money, and thus why or why not Bitcoin.

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