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Farmer Joe owes Storekeeper Fred 2 bushels of wheat, and I can prove it!

Updated: Aug 14, 2021

Before we had coins, we had credit; and maybe even a futures market.

I can imagine a small band of hunters that met up with a community of gatherers and decide to trade some veggies for a few steaks. Or maybe a container of grog for a knife and an axe. After a few grogs, and more encounters, the farmers said to the hunters; "come back and have a few grogs later when we harvest our wheat. We'll have a cook out. you bring the hot dogs and some extra knives and we'll supply the buns and grog."

And Bingo, a futures market was established. Further along, they decided to trade stuff before it was available, but they trusted each other to supply the items as the harvest came; and then along came the smart phone and iPad, and next thing you know someone lied about the value or quantity of a trade and we had to move to blockchain 3.0. Trustless my ass. I have to trust something.

Somebody Please take notes! At least keep a running bar tab so no one runs off without paying the tab. IDK maybe a ledger or something.

If you find this time line hard to follow, don't worry. Trust me. I hit the important highlights. You can fill in the blanks to make this story your own. But I really do believe that items (even people and slaves) were traded on credit before different clans or cities or states could agree on a common form of currency.

How bout those trading pairs? Do you have trouble finding the coin you want to trade, or do you trade to a stable coin and then buy the coin you actually wanted.

This is nothin new. Bob wanted a new set of wheels for his fertilizer cart (S$!t Coin?) and Bill wanted some wheat. Bob and Bill both had the wrong items to trade, so along came Edward with some shiny silver and glass beads. He worked out a deal so that they both could take some silver to the wheel maker and and the farmer and trade. (liquidity?) This is not a DEX, but it does look like it.

So, as much as we complain about all the new stuff we have to learn, it really is an old system with a few new tricks added so that you can reach a more distant and varied customer/supplier group. So just remember : Profit with each trade if you can. Buy low and sell high. AND..... This is a story. Not Fact nor financial advice. If you need a wheel for your cart DYOR. When your new wheel falls off and kills the farmers cow then don't be an ass and you won't blame me for the choice you make with your new set of wheels. Trust me.


FNL content including, but not limited to, articles, podcasts, videos, live streams, and websites are intended for informational purposes and should NOT be considered financial, investment, nor trading advice. Cryptocurrency, futures, foreign currency and options trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing one’s financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.


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