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Bill Haywood

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The mine owners "did not find the gold, they did not mine the gold, they did not mill the gold, but by some weird alchemy all the gold belonged to them!"
Haywood, William D. The Autobiography of Big Bill Haywood. New York: International Publishers, 1929, p. 171.

Bill Haywood

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This 'Improv' sign is all over, all the improvs have it, and in Tempe, Arizona, the sign is made out of gold. I swear to God. And the dude wasn't gonna pay me, so I stole the 'M', 'cause the 'M' seems like it weighs the most. Followed by the 'R'. Then the 'P'. The 'P' was one little thing away from being as heavy as the 'R'. So I had a gold 'M', and I asked the guy if he'd like to buy a Gold 'M'. He said "No, what the f**k do I want a gold 'M' for?" "Well how 'bout a gold 'W'?" {pause for laughter} I had a bad set here last night, and they added an 'E' to the end of the sign.

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Gold, he learned, was considered to be a reliable store of value because extracting it from the ground required a certain amount of effort that tended to remain stable over time. When new, easy-to-mine gold deposits were found, or new mining technologies developed, the value of gold tended to fall. It didn’t take a huge amount of acumen, then, to understand that the value of virtual gold in the game world could be made stable in a directly analogous way: namely, by forcing players to expend a certain amount of time and effort to extract a certain amount of virtual gold…

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Gold! Gold! Gold! Gold!
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