Whilst the future of money and #crypto is very exciting, the history of money is equally interesting.
For example, cattle played a very important role as a form of #money throughout history.
Time for a thread.
For example, cattle played a very important role as a form of #money throughout history.
Time for a thread.
A good example of its impact is its use today in modern European languages.
The word pecuniary, which means "related to money," is derived from the Latin pecuniarias, meaning "wealth in cattle."
The word pecuniary, which means "related to money," is derived from the Latin pecuniarias, meaning "wealth in cattle."
Chattel—any item of movable personal property—comes from the same source.
Cattle as a form of exchange ultimately remained in use in many parts of the world for many years so did other forms of livestock.
Cattle as a form of exchange ultimately remained in use in many parts of the world for many years so did other forms of livestock.
Until the 20th century, horses were the main monetary unit of the Kirghiz of the Central Asian steppes.
Sheep were used as subsidiaries, with lambskins being used as small change.
Sheep were used as subsidiaries, with lambskins being used as small change.
Animal skins and furs, meanwhile, proved extremely useful in Russia, Siberia, and North America, but they had little practical use in the warmer markets of the Caribbean, Africa, South America, and southern Asia.
The Canadians used beaver pelts.
The settlers used the skin of the North American deer.
Each skin was known as a buck, a word that has survived as a slang term for the dollar.
The settlers used the skin of the North American deer.
Each skin was known as a buck, a word that has survived as a slang term for the dollar.
If you like such topics, make sure to follow me on Twitter (@HenriArslanian) and to subscribe to my weekly newsletter on the Future of Money: bit.ly/3AQTuRs
• • •
Missing some Tweet in this thread? You can try to
force a refresh
