1 Kilo loaf of bread for under 1 Sat or we haven't arrived yet.
In 600 B.C. using 1 oz of gold you could buy 350 loaves of bread weighing 1 kilo each. This is the benchmark.
Why do we use bread as the benchmark? Because it's a simple manufactured product that requires a few inputs and some Human labor, and we know the price for 1 kilo of the finished product going back millennia.
Reference: https://web.archive.org/web/20240711023842/https://www.coins-auctioned.com/learn/news/history-of-gold-ounce-price-comparison-to-a-loaf-of-bread
AlejandroHODL / AlejandroHODL ⚡ 🧡 ☮️ 🧘🏻
npub185…yasry
2024-08-02 20:46:44
Author Public Key
npub18576m757fr0vwukvkqrh490c80lfshy0hucvrvql095lswzrm20qnyasryPublished at
2024-08-02 20:46:44Event JSON
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"content": "1 Kilo loaf of bread for under 1 Sat or we haven't arrived yet.\n\nIn 600 B.C. using 1 oz of gold you could buy 350 loaves of bread weighing 1 kilo each. This is the benchmark.\n\nWhy do we use bread as the benchmark? Because it's a simple manufactured product that requires a few inputs and some Human labor, and we know the price for 1 kilo of the finished product going back millennia.\n\nReference: https://web.archive.org/web/20240711023842/https://www.coins-auctioned.com/learn/news/history-of-gold-ounce-price-comparison-to-a-loaf-of-bread",
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