Today I asked, what if a penny was made of copper, how much would it be worth. The price of copper is easy enough to find, $3.89/oz, so just need the weight of a penny. Come to find most are 2.5 grams, new pennies are 3.11 g.
#bitcoin #plebchain #growstr
However, when first introduced it was 13.48g of 100% copper. Today that is roughly $1.85. Let that soak in, the penny should have 185x more purchasing power than it does today.
The original fucking intent was to be able to buy you a shitty yet satisfying sandwich, to provide you with enough sustenance to get you to the next meal.
The ability to satisfy a basic human need makes the penny feel way more relevant and useful. Makes you think, maybe we weren’t always a people ruled by mostly incompetent, certainly power hungry, blatantly greedy, potentially evil people. Maybe the founding ideals were actually solid, put in place and agreed upon by good people, who understood the importance of individual liberties and saw first hand the suffering and oppression of tyranny.
However, over time that foundation has been deeply eroded in no small part by monetary debasement. Started with coin clipping, then dilution, graduated to fractional reserve paper, and culminating in fiat digital currencies.
Bitcoin fixes this. Its connection to real world energy and equal enforcement of strict rules governed by nothing other than mathematics, makes it a source of truth that humanity so desperately needs. Respect for and adherence to the laws of nature are required for human flourish.
Ghost of Nick Pacione
@GhostofPacione
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5h
It's $12.37 for a pack of 100 fake plastic pennies.
That's 1200% more valuable than the real metal coins.
Do you realize how far we have fallen?? #Bitcoin
