timechainman on Nostr: “Why #bitcoin ?” 1. Ming Dynasty Paper Money (China) Duration: 1368 – 1450 ...
“Why #bitcoin ?”
1. Ming Dynasty Paper Money (China)
Duration: 1368 – 1450
Reason for Failure: Overproduction led to severe inflation, causing the currency to lose value and be abandoned in favor of silver.
2. Swedish Riksdaler (Sweden)
Duration: 1604 – 1776
Reason for Failure: Excessive issuance of paper money without sufficient backing led to depreciation and loss of confidence.
3. French Livre (France)
Duration: 781 – 1795
Reason for Failure: Replaced by the franc during the French Revolution due to inflation and monetary reform.
4. Assignat (France)
Duration: 1790 – 1796
Reason for Failure: Overproduction and counterfeiting led to rapid depreciation and eventual abandonment.
5. Continental Currency (United States)
Duration: 1775 – 1782
Reason for Failure: Over-issuance and lack of backing caused massive depreciation, leading to the phrase “not worth a continental.”
6. Confederate States Dollar (Confederate States of America)
Duration: 1861 – 1865
Reason for Failure: Overproduction, lack of backing, and the Confederacy’s defeat rendered the currency worthless.
7. German Papiermark (Weimar Republic)
Duration: 1914 – 1923
Reason for Failure: Post-World War I reparations and economic mismanagement led to hyperinflation, making the currency worthless.
8. Hungarian Pengő (Hungary)
Duration: 1927 – 1946
Reason for Failure: Post-World War II hyperinflation led to the replacement of the pengő by the forint.
9. Zimbabwean Dollar (Zimbabwe)
Duration: 1980 – 2009
Reason for Failure: Economic mismanagement and land reform policies led to hyperinflation, causing the currency to be abandoned in favor of foreign currencies.
10. Argentine Peso (Argentina)
Duration : 1983 – 1985
Reason for Failure: Chronic inflation led to the replacement of the peso with the austral in 1985.
11. Peruvian Sol (Peru)
Duration: 1863 – 1985
Reason for Failure: Hyperinflation in the 1980s led to the sol being replaced by the inti, and later the nuevo sol.
12. Soviet Ruble (Soviet Union)
Duration: 1919 – 1991
Reason for Failure: The dissolution of the Soviet Union led to the abandonment of the ruble in favor of new national currencies by successor states.
13. Greek Drachma (Greece)
Duration: 1832 – 2001
Reason for Failure: Replaced by the euro in 2001 as part of Greece’s entry into the Eurozone.
14. Italian Lira (Italy)
Duration: 1861 – 2002
Reason for Failure: Replaced by the euro in 2002 due to Italy joining the Eurozone.
15. Spanish Peseta (Spain)
Duration: 1868 – 2002
Reason for Failure: Replaced by the euro in 2002 as Spain adopted the common European currency.
16. Portuguese Escudo (Portugal)
Duration: 1911 – 2002
Reason for Failure: Replaced by the euro in 2002 with Portugal’s entry into the Eurozone.
17. French Franc (France)
Duration: 1795 – 2002
Reason for Failure: Replaced by the euro in 2002 as France joined the Eurozone.
18. Dutch Guilder (Netherlands)
Duration: 1680 – 2002
Reason for Failure: Replaced by the euro in 2002 with the Netherlands adopting the common currency
19. Austrian Krone (Austria-Hungary)
Duration: 1892 – 1925
Reason for Failure: Collapsed after World War I and the dissolution of the Austro-Hungarian Empire; replaced by the Austrian Schilling.
20. Ottoman Lira (Ottoman Empire)
Duration: 1844 – 1923
Reason for Failure: Replaced by the Turkish Lira after the collapse of the Ottoman Empire.
21. Chinese Da-Qing Baochao (China)
Duration: 1853 – 1868
Reason for Failure: Hyperinflation due to excessive issuance caused it to lose all value.
22. Chinese Yuan (Nationalist Era)
Duration: 1912 – 1949
Reason for Failure: Hyperinflation during the Chinese Civil War led to its replacement by the Renminbi under the People’s Republic of China.
23. Mexican Peso (Old Series)
Duration: 1821 – 1993
Reason for Failure: Chronic inflation and economic crises led to the re-denomination of the peso into the “nuevo peso” in 1993.
24. Brazilian Cruzeiro (Brazil)
Duration: 1942 – 1986
Reason for Failure: Hyperinflation led to multiple replacements, eventually giving way to the Real in 1994.
25. Chilean Escudo (Chile)
Duration: 1960 – 1975
Reason for Failure: High inflation prompted its replacement with the peso.
26. Cuban Peso (Old Series)
Duration: 1857 – Present
Reason for Failure: While it technically exists, its value collapsed due to economic isolation and mismanagement.
27. Polish Zloty (Old Series)
Duration: 1924 – 1950
Reason for Failure: Replaced after World War II due to inflation and monetary reform.
28. Yugoslav Dinar (Yugoslavia)
Duration: 1920 – 2003
Reason for Failure: Hyperinflation and the breakup of Yugoslavia rendered it worthless; replaced by multiple successor currencies.
29. Russian Ruble (Imperial)
Duration: 1704 – 1917
Reason for Failure: Collapsed during the Russian Revolution and replaced by the Soviet Ruble.
30. Russian Ruble (Post-Soviet)
Duration: 1991 – 1998
Reason for Failure: Hyperinflation after the fall of the Soviet Union led to the re-denomination of the ruble.
31. Venezuelan Bolívar (Pre-Sovereign Bolívar)
Duration: 1879 – 2008
Reason for Failure: Hyperinflation led to multiple re-denominations, most recently the Bolívar Soberano.
32. Indonesian Rupiah (Old Series)
Duration: 1945 – Present
Reason for Failure: Severe inflation following independence led to multiple currency reforms.
33. Indian Rupee (British Raj)
Duration: 1835 – 1947
Reason for Failure: Replaced by the modern Indian Rupee after independence.
34. Spanish Real (Spain)
Duration: 1350 – 1868
Reason for Failure: Replaced by the Spanish Peseta as part of modern reforms.
35. Korean Won (Old Series)
Duration: 1902 – 1953
Reason for Failure: The Korean War and inflation caused the introduction of a new won.
36. German Reichsmark (Germany)
Duration: 1924 – 1948
Reason for Failure: Replaced after World War II by the Deutsche Mark during monetary reform.
37. Italian Florin (Italy)
Duration: 1252 – 1861
Reason for Failure: Unified into the Italian Lira during the unification of Italy.
38. Finnish Markka (Finland)
Duration: 1860 – 2002
Reason for Failure: Replaced by the euro in 2002 as part of the Eurozone.
39. Afghan Afghani (Old Series)
Duration: 1925 – 2002
Reason for Failure: Political instability and inflation led to the issuance of a new Afghani.
40. Iraqi Dinar (Old Series)
Duration: 1932 – 2003
Reason for Failure: Replaced after the U.S. invasion and economic restructuring.
41. Paraguayan Guarani (Old Series)
Duration: 1944 – Present
Reason for Failure: While technically still in circulation, its value has been eroded by inflation.
42. Egyptian Pound (Old Series)
Duration: 1885 – Present
Reason for Failure: Chronic inflation has severely diminished its purchasing power.
43. Thai Baht (Old Series)
Duration: 1851 – Present
Reason for Failure: Devaluations over time due to global economic crises.
44. Burmese Kyat (Myanmar)
Duration: 1948 – Present
Reason for Failure: Economic mismanagement has led to periodic collapses in value.
45. Cambodian Riel (Old Series)
Duration: 1953 – 1975
Reason for Failure: Abandoned during the Khmer Rouge era; later reintroduced.
46. Haitian Gourde (Haiti)
Duration: 1813 – Present
Reason for Failure: Chronic mismanagement and inflation have eroded its value.
47. Lebanese Pound (Lebanon)
Duration: 1924 – Present
Reason for Failure: Severe inflation and banking crises have diminished its value. thebitcoinway (npub1lrj…mzx2)
48. South Sudanese Pound (South Sudan)
Duration: 2011 – Present
Reason for Failure: Economic instability and inflation since independence.
49. Turkish Lira (Old Series)
Duration: 1923 – 2005
Reason for Failure: Replaced due to inflation and re-denomination to the New Turkish Lira.
50. Czechoslovak Koruna (Czechoslovakia)
Duration: 1919 – 1993
Reason for Failure: Dissolved after the breakup into the Czech Republic and Slovakia.
#fuckfiat #freedom #selfcustody #neversell
1. Ming Dynasty Paper Money (China)
Duration: 1368 – 1450
Reason for Failure: Overproduction led to severe inflation, causing the currency to lose value and be abandoned in favor of silver.
2. Swedish Riksdaler (Sweden)
Duration: 1604 – 1776
Reason for Failure: Excessive issuance of paper money without sufficient backing led to depreciation and loss of confidence.
3. French Livre (France)
Duration: 781 – 1795
Reason for Failure: Replaced by the franc during the French Revolution due to inflation and monetary reform.
4. Assignat (France)
Duration: 1790 – 1796
Reason for Failure: Overproduction and counterfeiting led to rapid depreciation and eventual abandonment.
5. Continental Currency (United States)
Duration: 1775 – 1782
Reason for Failure: Over-issuance and lack of backing caused massive depreciation, leading to the phrase “not worth a continental.”
6. Confederate States Dollar (Confederate States of America)
Duration: 1861 – 1865
Reason for Failure: Overproduction, lack of backing, and the Confederacy’s defeat rendered the currency worthless.
7. German Papiermark (Weimar Republic)
Duration: 1914 – 1923
Reason for Failure: Post-World War I reparations and economic mismanagement led to hyperinflation, making the currency worthless.
8. Hungarian Pengő (Hungary)
Duration: 1927 – 1946
Reason for Failure: Post-World War II hyperinflation led to the replacement of the pengő by the forint.
9. Zimbabwean Dollar (Zimbabwe)
Duration: 1980 – 2009
Reason for Failure: Economic mismanagement and land reform policies led to hyperinflation, causing the currency to be abandoned in favor of foreign currencies.
10. Argentine Peso (Argentina)
Duration : 1983 – 1985
Reason for Failure: Chronic inflation led to the replacement of the peso with the austral in 1985.
11. Peruvian Sol (Peru)
Duration: 1863 – 1985
Reason for Failure: Hyperinflation in the 1980s led to the sol being replaced by the inti, and later the nuevo sol.
12. Soviet Ruble (Soviet Union)
Duration: 1919 – 1991
Reason for Failure: The dissolution of the Soviet Union led to the abandonment of the ruble in favor of new national currencies by successor states.
13. Greek Drachma (Greece)
Duration: 1832 – 2001
Reason for Failure: Replaced by the euro in 2001 as part of Greece’s entry into the Eurozone.
14. Italian Lira (Italy)
Duration: 1861 – 2002
Reason for Failure: Replaced by the euro in 2002 due to Italy joining the Eurozone.
15. Spanish Peseta (Spain)
Duration: 1868 – 2002
Reason for Failure: Replaced by the euro in 2002 as Spain adopted the common European currency.
16. Portuguese Escudo (Portugal)
Duration: 1911 – 2002
Reason for Failure: Replaced by the euro in 2002 with Portugal’s entry into the Eurozone.
17. French Franc (France)
Duration: 1795 – 2002
Reason for Failure: Replaced by the euro in 2002 as France joined the Eurozone.
18. Dutch Guilder (Netherlands)
Duration: 1680 – 2002
Reason for Failure: Replaced by the euro in 2002 with the Netherlands adopting the common currency
19. Austrian Krone (Austria-Hungary)
Duration: 1892 – 1925
Reason for Failure: Collapsed after World War I and the dissolution of the Austro-Hungarian Empire; replaced by the Austrian Schilling.
20. Ottoman Lira (Ottoman Empire)
Duration: 1844 – 1923
Reason for Failure: Replaced by the Turkish Lira after the collapse of the Ottoman Empire.
21. Chinese Da-Qing Baochao (China)
Duration: 1853 – 1868
Reason for Failure: Hyperinflation due to excessive issuance caused it to lose all value.
22. Chinese Yuan (Nationalist Era)
Duration: 1912 – 1949
Reason for Failure: Hyperinflation during the Chinese Civil War led to its replacement by the Renminbi under the People’s Republic of China.
23. Mexican Peso (Old Series)
Duration: 1821 – 1993
Reason for Failure: Chronic inflation and economic crises led to the re-denomination of the peso into the “nuevo peso” in 1993.
24. Brazilian Cruzeiro (Brazil)
Duration: 1942 – 1986
Reason for Failure: Hyperinflation led to multiple replacements, eventually giving way to the Real in 1994.
25. Chilean Escudo (Chile)
Duration: 1960 – 1975
Reason for Failure: High inflation prompted its replacement with the peso.
26. Cuban Peso (Old Series)
Duration: 1857 – Present
Reason for Failure: While it technically exists, its value collapsed due to economic isolation and mismanagement.
27. Polish Zloty (Old Series)
Duration: 1924 – 1950
Reason for Failure: Replaced after World War II due to inflation and monetary reform.
28. Yugoslav Dinar (Yugoslavia)
Duration: 1920 – 2003
Reason for Failure: Hyperinflation and the breakup of Yugoslavia rendered it worthless; replaced by multiple successor currencies.
29. Russian Ruble (Imperial)
Duration: 1704 – 1917
Reason for Failure: Collapsed during the Russian Revolution and replaced by the Soviet Ruble.
30. Russian Ruble (Post-Soviet)
Duration: 1991 – 1998
Reason for Failure: Hyperinflation after the fall of the Soviet Union led to the re-denomination of the ruble.
31. Venezuelan Bolívar (Pre-Sovereign Bolívar)
Duration: 1879 – 2008
Reason for Failure: Hyperinflation led to multiple re-denominations, most recently the Bolívar Soberano.
32. Indonesian Rupiah (Old Series)
Duration: 1945 – Present
Reason for Failure: Severe inflation following independence led to multiple currency reforms.
33. Indian Rupee (British Raj)
Duration: 1835 – 1947
Reason for Failure: Replaced by the modern Indian Rupee after independence.
34. Spanish Real (Spain)
Duration: 1350 – 1868
Reason for Failure: Replaced by the Spanish Peseta as part of modern reforms.
35. Korean Won (Old Series)
Duration: 1902 – 1953
Reason for Failure: The Korean War and inflation caused the introduction of a new won.
36. German Reichsmark (Germany)
Duration: 1924 – 1948
Reason for Failure: Replaced after World War II by the Deutsche Mark during monetary reform.
37. Italian Florin (Italy)
Duration: 1252 – 1861
Reason for Failure: Unified into the Italian Lira during the unification of Italy.
38. Finnish Markka (Finland)
Duration: 1860 – 2002
Reason for Failure: Replaced by the euro in 2002 as part of the Eurozone.
39. Afghan Afghani (Old Series)
Duration: 1925 – 2002
Reason for Failure: Political instability and inflation led to the issuance of a new Afghani.
40. Iraqi Dinar (Old Series)
Duration: 1932 – 2003
Reason for Failure: Replaced after the U.S. invasion and economic restructuring.
41. Paraguayan Guarani (Old Series)
Duration: 1944 – Present
Reason for Failure: While technically still in circulation, its value has been eroded by inflation.
42. Egyptian Pound (Old Series)
Duration: 1885 – Present
Reason for Failure: Chronic inflation has severely diminished its purchasing power.
43. Thai Baht (Old Series)
Duration: 1851 – Present
Reason for Failure: Devaluations over time due to global economic crises.
44. Burmese Kyat (Myanmar)
Duration: 1948 – Present
Reason for Failure: Economic mismanagement has led to periodic collapses in value.
45. Cambodian Riel (Old Series)
Duration: 1953 – 1975
Reason for Failure: Abandoned during the Khmer Rouge era; later reintroduced.
46. Haitian Gourde (Haiti)
Duration: 1813 – Present
Reason for Failure: Chronic mismanagement and inflation have eroded its value.
47. Lebanese Pound (Lebanon)
Duration: 1924 – Present
Reason for Failure: Severe inflation and banking crises have diminished its value. thebitcoinway (npub1lrj…mzx2)
48. South Sudanese Pound (South Sudan)
Duration: 2011 – Present
Reason for Failure: Economic instability and inflation since independence.
49. Turkish Lira (Old Series)
Duration: 1923 – 2005
Reason for Failure: Replaced due to inflation and re-denomination to the New Turkish Lira.
50. Czechoslovak Koruna (Czechoslovakia)
Duration: 1919 – 1993
Reason for Failure: Dissolved after the breakup into the Czech Republic and Slovakia.
#fuckfiat #freedom #selfcustody #neversell