Video Description
Store of value comes first. After that, history says spending and pricing could arrive in either order. A short history of money in New Amsterdam, the Dutch colony that became New York, and what it says about Bitcoin.
Cory Klippsten walks the southern tip of Manhattan, where New York City started as the Dutch settlement of New Amsterdam, to look at how money actually worked there 400 years ago. New Amsterdam had one unit of account, guilders and stivers, but people paid each other in silver, beaver pelts or wampum. By the late 1650s those forms of money had diverged so far in value that saying something cost 10 guilders wasn't enough information. In 1658 the Director-General and Council set three prices for the same two-pound loaf of white bread: 4 stivers in silver, 6 in beaver, 8 in...
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