Bitcoin: The Island Of Stone Bitcoins

[RuecanOnRails]

An interesting audio/written article telling the story of Yap,their stone currency, and how it can be compared to Bitcoin. Both in concept, and in how bureaucrats manipulated the people, not the currency. With the recent regulation talks occurring, many business are requesting regulation in order to comply with government ruling. Could Bitcoin become the next currency to have it's users manipulated into devaluing and eventually destroying the currency. 

 

A great listen for anyone interested in Bitcoin, or trying to find ways to explain what Bitcoin is.

 

 

http://letstalkbitcoin.com/the-island-of-stone-bitcoins/

 

 

 

Yap was lush in vegetation and fairly sustainable but had no precious metals or minerals to be found.  So, for function of currency they made stone coins.  The people of Yap, keen on not half-assing this ‘coin’ thing, decided to go big AND to go home.  They sailed up to four hundred miles to other islands with vast limestone quarries so that they could carve out enormous stone discs three to twelve feet in diameter, wheel them over to rafts, and sail them back to Yap.