Post
Topic
Board Bitcoin Discussion
Re: Peter Thiel on Bitcoin
by
Vitalik Buterin
on 04/03/2012, 10:44:41 UTC

Soon it becomes very clear that gold was never "declared" to be a form of money by any "authorities" but rather, became money due to natural market forces.

Interestingly enough, this is actually false - gold coins were originally used by kings as a way of forcing their citizens to support local armies by making it the only legal tender for taxation. Genuine decentralized societies tended to use proto-Ripple-style credit systems. Read David Grabeber's Debt: The First 5000 Years.