There is a very interesting discussion in economics about which came first, the credit system or the monetary system.

This discussion has inspired the general direction of many subsequent mechanism designs. Vitalik believes that the credit system came first, meaning that the circulation of bonds preceded the emergence of money, and that the liquidity of credit originates from collateral. This also became the core idea of Proof of Stake proposed by Vitalik: Staking.
The other direction, which is also the starting point of "The Bitcoin Standard", argues that the monetary system predates the credit system, emphasizing the role of money as a medium of exchange, and the prerequisite for becoming a medium of exchange is being a store of value. Its value derives from its scarcity, that is, the time cost of production. This became the core idea of Proof of Work proposed by Satoshi, and the price of Bitcoin will eventually tend toward the Nash equilibrium of mining costs.
What do you think?