{"type":"rich","version":"1.0","title":"bitcoinwell wrote","author_name":"bitcoinwell (npub19m…qkfu2)","author_url":"https://yabu.me/npub19mf4jm44umnup4he4cdqrjk3us966qhdnc3zrlpjx93y4x95e3uq9qkfu2","provider_name":"njump","provider_url":"https://yabu.me","html":"\"A man worth his salt\" 🧂\n\nYou've heard before it, maybe you've said it yourself \n\nBut why is this expression used in admiration or respect, when a box of salt costs a couple bucks at the grocery store? \n\nAnd what does salt have to do with bitcoin? \n\nThe answer may surprise you!\n\nFirst, let's go back to Ancient Rome, its 100 BC \n\nSalt is a valuable commodity \n\nSalt frees people from the whims of the seasons by enabling long term food preparation\n\nSalt could mean the difference between life and death \n\nSalt production was minimal, salt was hard to obtain\n\nRome learned how to import salt from the Mediterranean, some say the first roman roads were built to transport salt from the sea to the capital\n\nRoman soldiers were paid, in part, in salt. Likely a mixture of coinage and salt.\n\nIf a Roman Soldier slacked at his duties, the salt from his payment would be cut as he was 'not worth his salt'. \n\nThe latin world 'sal' means salt.\n\nIt is believed that roman soldiers were paid in salt and thats why the latin word 'salarium' is our origin for 'salary'.\n\nToday salt is not a precious commodity. \n\nIncreased technological sophistication meant that harvesting salt became increasingly easier, increasing the amount of available salt and lowering its price. \n\nThis is the case with most commodities today, even gold.\n\nAs technology increases, stock to flow increases as well. \n\nAs bitcoiners know, an increasing stock to flow ratio can lower the per unit value of a commodity.\n\nBitcoin is immune to salt's downfall because increased technological sophistication cannot increase bitcoin production\n\nWho knows, a few decades from now when bitcoin becomes the primary monetary system+unit in the world, maybe people will stop saying \"a man worth his salt\"\n\nBitcoin will be the money everyone desires. \n\nThe expression may even evolve to be:\n\"a man worth his sats\" 🤔"}