the first scenario is well known in fiat history. But I have never heard of the second one? people didn't use to have an alternative that was better at being cash, so they reverted to gold which had a lower velocity than cash by its physical nature.
What the chain says
- Block
- 648 371
- Time
- 2020-08-16T08:53:49Z
- Signer
- 19nTUyw97xhqL7eVJzmAJT2RbTvbW84gwv
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#561
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
19nTUyw97xhqL7eVJzmAJT2RbTvbW84gwv Verified