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After the American Revolution, how did they create a new currency?

Posted on 3/4/24 at 11:42 am
Posted by tigerpawl
Can't get there from here.
Member since Dec 2003
22412 posts
Posted on 3/4/24 at 11:42 am
How do you create a new currency for a new country? Anybody have a quick primer on "Creating a New Currency for Dummies"??

In other news, Bitcoin should hit a new high by EOD. Currently $67,000. Are there any parallels between 1776 and 2024?
Posted by UpstairsComputer
Prairieville
Member since Jan 2017
1587 posts
Posted on 3/4/24 at 12:02 pm to
Pretty sure you single handedly ruined Bitcoin with that comment. We didn’t go to a single currency until 1913 and banks still had their own as late as the 20’s.

I see no parallels to the American Revolution. The fact that like 30% think J6 was a resurrection, you establish your population as pussies. If bitcoin ever actually challenged the dollar, you’d see real quick how the government would shut it down.

Everyone is celebrating the recent run up, but the funny part is all these buyers coming in now have registered shares. lol
Posted by Hermit Crab
Under the Sea
Member since Nov 2008
7183 posts
Posted on 3/4/24 at 12:39 pm to
How often is bitcoin used in actual commerce transactions? when was the last time you bought something with bitcoin?
This post was edited on 3/4/24 at 12:40 pm
Posted by HailToTheChiz
Back in Auburn
Member since Aug 2010
49119 posts
Posted on 3/4/24 at 12:49 pm to
quote:

other news, Bitcoin should hit a new high by EOD. Currently $67,000. Are there any parallels between 1776 and 2024?


My God
Posted by grsharky
Member since Dec 2019
185 posts
Posted on 3/4/24 at 2:18 pm to
I can't speak for the parallels between 1776 and 2024, because they're not exactly the same scenarios. However, I can tell you that after the Revolution the American people had such little faith in the national currency that many states issued their own money. As you can imagine that led to a lot of problems with exchange of goods.

Many people on the frontier had no access to paper money and lived in a bartering society, so when states like Massachusetts came looking for paper money for taxes it led to events like Shays Rebellion.

Also the same thing basically happened a few years later in western PA with the Whiskey Rebellion. There are a lot of neat stories about money in early America. The British even flooded the country with counterfeit money to drive down the faith in paper bills.
Posted by SlidellCajun
Slidell la
Member since May 2019
10534 posts
Posted on 3/4/24 at 4:16 pm to
quote:

other news, Bitcoin should hit a new high by EOD. Currently $67,000. Are there any parallels between 1776 and 2024?


What’s causing the run up?

And how do you know if it’s fairly valued ?
This post was edited on 3/4/24 at 4:32 pm
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