Nick Szabo 🔑 on Twitter: "As for sacral properties of silver & gold, because they had the best monetary properties (including minimized chemical degradation), they became, long predating coinage, the main media of wealth transfer. Among Greeks tripods of precious metal were donated by monarchs to temples.… https://t.co/yzdwmlSFMD"

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17/ Ever since silver has been considered the metal of the money, while gold has been seen as the Sun’s metal. This is also a very strong indication of their sacral character.pic.twitter.com/X4lxOU2ehb

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Pahueg‏ @pahueg Mar 2

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18/ Precious metals are regarded as sacral because they are a symbol for pureness. #Silver is anti-bacterial, while #gold neither oxidize nor bilges, so it’s is really considered the purest of all kinds, purified from secular and temporal things.pic.twitter.com/6Xa9exQRaQ

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Pahueg‏ @pahueg Mar 2

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19/ Given that these sacral aspects have played an integral part in the evolution of money and that the sacral and spiritual elements imputed to precious metals might have been just as important as all the economic characters in the image below…pic.twitter.com/JnSlHzn6Wa

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Pahueg‏ @pahueg Mar 2

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20/ …I truly wonder, what sort of role the sacral still plays in today’s monetization event that we are seeing with Bitcoin.

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Pahueg‏ @pahueg Mar 2

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21/ Fewer and fewer people might identify as Christians, but spirituality and religious cravings don’t seem to have vanished much. People have metaphysical capacities built into them and are still very much seeking in terms of spiritual things.

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Pahueg‏ @pahueg Mar 2

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22/ It’s also pretty unlikely that people don’t hold anything sacred anymore. If I had to guess off the bat, I would say that things like equality, the environment as well as the state are things many people consider quite a sacred thing.

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Pahueg‏ @pahueg Mar 2

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23/ As a matter of fact many people think that #Bitcoin is not really doing well when it comes to equality, environmental protection and the state, of which it is a competitor in money terms.

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Pahueg‏ @pahueg Mar 2

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24/ And what about #technology, isn’t it at odds with the sacral on a fundamental level since technology is all about Math, which is totally calculable other than spiritual matters? Or has #Satoshi’s mystical act of creating Bitcoin been brilliant in this very regard?

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Pahueg‏ @pahueg Mar 2

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25/ I’d love to develop these thoughts further. What do you think: @nic__carter @NickSzabo4 @yassineARK @arjunblj @Moon__Rekt @bquittem @_ConnerBrown_ @HillebrandMax @mrauchs @real_vijay @misir_mahmudov

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Nick Szabo ‏ @NickSzabo4 Mar 2

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Replying to @pahueg @nic__carter and

It's an interesting take, but the main useful observation seems to be the same as that of chartalism -- big creditors (even if what is "owed" is a moral rather than legal obligation) have a disproportionate say in what gets considered money.

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Nick Szabo ‏ @NickSzabo4 Mar 2

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Replying to @NickSzabo4 @pahueg and

As for sacral properties of silver & gold, because they had the best monetary properties (including minimized chemical degradation), they became, long predating coinage, the main media of wealth transfer. Among Greeks tripods of precious metal were donated by monarchs to temples.

2:07 PM - 2 Mar 2019