Instance of strange currencies which have been used through the years including: Micronesian Rai, tea bricks, cheese, squirrel pelts, $1 million dollar gold coin, and bitcoin
It’s understandable here that we have lots of content covering bitcoin’s ins, outs, and all things in between. And with regards to traditional, centralized currencies many people are accustomed to, bitcoin is certainly unusual. But is the fact that an adverse? How about other strange currencies used throughout background and even todays? Once you’re done studying this, bitcoin might not appear such as the only oddball in the end.
Rai, an unusual currency from Micronesia, leans against a mens house around the Micronesian Island of Yap.
A brief history of 1 of Micronesia’s island states, Yap, includes using rai gemstones as currency. Rai gemstones are large circular limestone disks that fluctuate in dimensions, using the largest being around 12’ across and 1.5’ thick. Very durable and resilient to counterfeiting, they gain their value using their size, weight, and history. We ought to also mention a stone of the size will weigh 8,800 pounds. Not quite a handy fit for the wallet, right? Thankfully, transferring possession of those massive coins is thru a shared ledger of vocal exchange and doesn’t require moving them. Whew.
Wheels of mozzarella dairy product, among strange currencies which are edible, is stored in a dairy cooperative in Modena, Italia.
Nowadays we have currencies which are broadly recognized from place to place, that are also easily exchangeable. And bitcoin, which may be recognized by anybody with a web connection, has become more and more accessible globally. Before currencies with mass adoption, a typical medium for exchange incorporated valued goods. And perhaps, the selected medium was edible. Yes, that is correct.
Salt, an very valuable commodity accustomed to preserve and season food, was one of these. Other currency-worthy edibles include pepper, and tea bricks (bricks of tea leaves), that have been used at different points ever in China, Russia, and Tibet, to mention a couple of.
Strange currencies in edible forms are used somewhat today. Italy’s banks have used cheese as collateral for money loans, a convention that goes back towards the Medici era. Bitcoin might not be tasty (unless of course you want the flavour of ASIC mining chips), but will it still appear such as the oddball?
Not-so tasty currencies
A req squirrel, the pelts which were utilised as currency in Finland and Russia, within the forest (Sciurus vulgaris).
Maybe much more of an acquired taste for their former edible counterparts, regions including regions of Finland, Russia, and The United States, considered animal pelts to become a valued medium of exchange. The Finnish word for the money, ‘raha’, is really a direct mention of the their utilization of squirrel pelts as currency. With no, the practice is not commonplace today, based on a Finnish user on Reddit.
Over the Atlantic, beaver skins grew to become such a fundamental element of early North America’s 17th century economy that the gold coin known as the Made Beaver (one gold coin symbolized one good shape beaver skin) is made for easy trade between Europeans and Aboriginals.
Canada’s massive $1 million dollar gold coin
Ending having a grand finale, the Royal Canadian Mint describes producing their $a million dollar gold coin as “[i]incredible, but true.” The gold coin itself weighs 100kg, and consists of 99999 pure gold bullion. There have been no intentions to breed it initially, but after the first generated interest, five additional coins happen to be purchased. Within an unfortunate turn of occasions, among the gargantuan coins made headlines lately after it had been stolen from the Berlin museum.