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@ Stefan
2025-05-08 14:35:02Money has always been more than a medium of exchange. It reflects what societies value, how they organize trust, and what they choose to remember. This article explores the idea that money functions as a form of collective memory, and how Bitcoin may be restoring this role in a new way.
The Asante Example
In the Asante Empire, which flourished in West Africa during the 18th and 19th centuries, gold dust served as the primary medium of exchange. To measure it, traders used ornate spoons made of brass. These spoons were often carved with birds, animals, or abstract symbols. They were not currency themselves, but tools used to handle gold dust accurately.
Importantly, these spoons also carried meaning. Symbols and proverbs embedded in the spoons conveyed lessons about honesty, community, and continuity. For example, the Sankofa bird, shown turning its head backward to retrieve an egg from its back, represented the proverb, “It is not wrong to go back for that which you have forgotten.” This was a reminder to learn from the past.
The spoons reflect an understanding that money and its instruments are not just practical tools. They are cultural artifacts that store shared values. In the Asante context, even measurement was ritualized and tied to ethics and memory.
Money as a Cultural Medium
This connection between money and cultural meaning is not unique to the Asante Empire. Modern fiat currencies also carry symbols, phrases, and designs that reflect national identity and political values.
The U.S. dollar includes Latin phrases and national symbols meant to convey stability and purpose. The British pound features royal iconography, reinforcing the idea of continuity and sovereignty. When the euro was introduced, it deliberately avoided specific national references. Itsdesign used bridges and windowsto suggest openness and cooperation across the continent.
These design choices show that societies still embed meaning into their money. Even in a digital or fiat context, money is used to transmit a story about who we are, where authority lies, and what we value.
The Fragility of Fiat Memory
While fiat money carries cultural symbols, the narratives behind those symbols can be fragile.
In 2021, the central bank of the Philippines removed democratic leaders from its banknotes,triggering public criticism. In the United States, attempts to replace Andrew Jackson with Harriet Tubman on the $20 billfaced repeated delays. These examples show how political control over money includes control over what stories are told and remembered.
Unlike objects passed down through generations, fiat memory can be edited or erased. In this sense, it is vulnerable. The meaning encoded in fiat systems can shift depending on who holds power.
Bitcoin as a New Form of Memory
Bitcoin is described as digital money. But it also introduces a different model of how societies can record value and preserve meaning.
The Bitcoin network launched in 2009 with a small message embedded in its first block: “Chancellor on brink of second bailout for banks.” This was a reference to a newspaper headline that day and a clear sign of protest against financial bailouts, centralized monetary policy, and forever wars.
This moment marked the beginning of a system where memory is stored differently. Instead of relying on governments or institutions, Bitcoin stores its history on a public ledger maintained by a decentralized network of participants. Its memory is not symbolic or political; it is structural. Every transaction, every block, is preserved through time-stamped computation and consensus.
No single authority can change it. The rules are clear and publicly auditable. In this way, Bitcoin offers a version of money where memory is both neutral and resilient.
Cultural Expression and Community Values
Even though Bitcoin lacks the traditional symbols found on banknotes, it has developed its own culture. Phrases like “Don’t trust, verify” or “Stay humble, stack sats” are shared widely in the Bitcoin community. These ideas reflect a focus on self-responsibility, verification, and long-term thinking.
These proverbs can be compared to the carved messages on the Asante spoons. While the contexts are very different, the underlying idea is similar: a community using language and symbols to reinforce its shared values.
Bitcoin also has a well established and growing art scene. Bitcoin conferences often feature dedicated sections for art inspired by the protocol and its culture. Statues of Satoshi Nakamoto have been installed in cities like Budapest, Lugano, and Fornelli. These physical works reflect the desire to link Bitcoin’s abstract values to something tangible.
Looking Back to Look Forward
The Asante example helps us see that money has long been tied to memory and meaning. Their spoons were practical tools but also cultural anchors. Bitcoin, while new and digital, may be playing a similar role.
Instead of relying on political symbols or national myths, Bitcoin uses code, transparency, and global consensus to create trust. In doing so, it offers a way to preserve economic memory that does not depend on power or politics.
It’s still early to know what kind of legacy Bitcoin will leave. But if it succeeds, it may not just change how money works. It may also change how civilizations remember.