If you think about it, at some point, people went had to make a mental shift and accept that "this piece of paper has value" over "this chicken" or "a gun". For common folks, this must have happen around the 19th century. I need answers about how it happened!
Ask HN: Were gambling and casinos part of States ways to promote paper money?
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Re: Ask HN: Were gambling and casinos part of States ways to promote paper money?
#2People had coins way back in the Roman Empire, ancient China, etc. People were used to the idea of precious metal having value, the first step of paper money was somebody issuing a certificate that could be traded in for metals.
Re: Ask HN: Were gambling and casinos part of States ways to promote paper money?
#3Paper money's been around for many many centuries ... a LOT longer than the United States :)
https://www.jpmorgan.com/payments/payments-unbound/volume-2/...