Money is trust, cryptos not (for now?!)

Money is trust, cryptos not (for now?!)


Empress Maria Theresa governed Austria, Bohemia, Hungary and some other pieces of Europe from 1740 to 1780.

Her image is quite well known around the world as it is impressed on the so called Maria Theresa Thaler, one of the most famous coin ever. May be there are people who can recognize her image if they do not know who she had been.

 

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The Maria Theresa Thaler is a Conventional Thaler, as its wheight and silver content conform to which that were established by a treatise that many mints accepted and conformed to.

During the past 250 years the use of the Maria Theresa Thaler became very popular in many countries, not only in Europe, but also in western Africa and Asia.

It was one of the first coins used in USA: the name Dollar derives from Thaler.

After Maria Theresa death mints of Austria and of other countries continued to strike the coin in millions of pieces. From that time the date impressed on the coin is 1780 (the year of Maria Theresa death).

Some kings have tried to replace the use of the Maria Theresa Thaler with other similar coins (same dimension, same silver content, same weight, but different pictures): they failed.

People trusted only on a coin they knew very well and nothing else. In same places of Africa and Asia the coin is still used in personal trades and business.

Maria Theresa Thaler is money as it has been and it is still in use, because it is well known by people, simple to be recognized and trusted.

People trust and accept the coin in exchange of stuff knowing that there are others who will accept.

Will BTC and altcoins become so popular as Maria Theresa Thaler in the future?

Will people trust in BTC as it was money and not something known only by a minority?

Will BTC remain a speculative asset?

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lemming
lemming

I am Italian, over 50, interested in many things: geology, science fiction and cryptos


Reflections about the past, the future and the now
Reflections about the past, the future and the now

Observing what's happen around us: trying to unpuzzling what is puzzling

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