UPDATED, 2025-11-22

The Start of a Merry-Go-Round that takes Everyone with it; the Killer of All Debts, Public (!) & Private: The 1st Coin (top / left) Minted in the Ancient Kingdom Lydia from Electrum (natural alloy of Gold & Silver) approx 2'700y ago (<650BC). The 1st Coin (bottom / right) minted from Gold by the Lydian King Kroisos approx 550BC.

Not just gold; and not just a sign. Instead, the combination of a rare metal and the unique (ie. monopolistic) artistic further processing & minting (ie. signature) on the one side plus the Kings claims of exactly this ("money") on the other side make it a desirable must-have (German: begehrenswert not wünschenswert) that everyone is reaching for; sound money with value.

This innovation entered the world-stage more than 2'500y ago and never really left it again.

And now, what is the parallel to watches here?

Ad 2025-11-22: How this trio (rarity, signature and claims / demands in this very same) is the essence and source (!) of all value is easy to imagine. It is also obvious that the historical triumph depends on the combination of all three ingredients.

Now, crypto comes with just one of these features: limitation ("rarity"). To think of it as sound money shows just a lcak of understanding of the above said. Even more the idea that limitation alone creates value is faulty: everything is limited. Instead this leaves you with the question: "Rare versus what?" And it is this question, that creates the hope of all Coin-plebs, that US-President Trump declares it a legal tender -- but I have some doubts this will happen and for a good reason they will not do such ("Strategic Bitcoin Reserve" ;-)).

And: The title of this blog-post is a line of an as easy as great children-song "Talerlied" (Angelika Mann & Reinhard Lakomy, sel.). It is an outstanding easy, catchy and substantial song and seems a good fit.